Stocks Move Lower...RUT...SPY...In Bull Flag Formations...NKE Up In After Hours Trading After Q4 Results...Bull Flags In Abundance...

Only one sector moved higher on Thursday…that was XLV…XLE was the weakest sector.

 

Breadth strengthened slightly as decliners led advancers 1.73 to 1 on the NYSE and 1.17 to 1 on the NASDAQ.

Thursday – strengthened, decliners led

Wednesday – weakened, decliners led

Tuesday – weakened, advancers led

Monday – strengthened, advancers led

Friday – weakened, decliners led

SPY down .64 at 209.86 on 97 million shares

VIX up .75 at 14.01…

TNX up .22 at 23.93…

TLT down .41 at 116.54…

XLF down .15 at 24.81 on 35.5 million shares

AAPL down .61 at 127.50 on 31.8

FB down .88 at 87.98 on 27.2 million shares

Technical Commentary:

IWM -0.05%, QQQ -0.20%, SPY -0.30%, DIA -0.76%.

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

Short-term Chart Targets:

SPY = 212.67, 213.78...

QQQ = 110.81, 111.16…

IWM = 128.99, 131.36…

Support Levels

SPY = 208.62, 206.76...

QQQ = 108.63, 106.80…

IWM = 123.94, 122.52...

The SPX Market Forecast is pointed down at 66.

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Setups

Horizontal Breakout: JCP, NCLH, ZION, ANGI, MFRM, SBUX,

Diagonal Breakout:  

Bull Flag:  SPY, QQQ, IWM, AIG, ASNA, BAC, C, CIEN, CYBR, ETFC, KKD, NKE, PANW, QIHU, RCL, STI, UBNT, W, ZU, AMZN, BIDU, CELG,

Potential Bullish Divergence:

Gap Up: 

Gap Down:

Bear Flag:  

At Support: BX, HABT, MU, WYNN,  

C- Pattern: 

Moves

New Highs: ADBE,  

H Breakout: MBLY,  

D Breakout:

Breakout Test:  

Bull Flag Bounce: GOGO, SPLK, SWKS, CMCSA,

MACD Divergence Bounce:   

Bounce:  SHAK, UNG, VXX, SWI, FB, MNST,

Gap Up:

Gap Down: CREE,   

C- Pattern:   

Bear Flag:  

Support Break: HPQ, JD, JUNO, LC, SLCA, JDSU, GMCR,

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Watch List Stocks

Leading stocks > +2% on Thursday: GOGO, MBLY, AMBA, UNG, SFUN, SHAK

                                                       

Lagging stocks < -2.0% included: SLCA, JUNO, GLNG, SHOP, Z, JD, SUM, ATI, YOKU, FAS, GME

34of 100 NDX stocks closed higher on Thursday and two were unchanged.

Leading NDX 100 stocks included: MNST, TSLA, CTSH, TSCO, CMCSA, VRSK, NVDA, ORLY, SBUX, ADBE

Lagging NDX stocks included: GMCR, STX, NFLX, WDC, CA, NTAP, BBBY, VIP, GILD, BIDU

 6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral/Down