QQQ, SPY, DIA Drift Lower on Light Trading...IWM Moves Up...Markets Closed Friday for Christmas Holiday

One of nine sectors moved higher on Thursday…XLV, XLI and XLK were the strongest sectors while XLE was the weakest sector. 

Breadth weakened as advancers led decliners 1.22 to 1 on the NYSE and 1.25 to 1 on the NASDAQ.

Thursday- weakened, advancers led

Wednesday – strengthened, advancers led

Tuesday – strengthened, advancers led

Monday – strengthened, advancers led

Friday – strengthened slightly, decliners led

SPY down .34 at 205.68 on 48.5 million shares

VIX up .17 at 15.74…

TNX down .21 at 22.43…

TLT up .70 at 121.83…on 3.3 million shares

XLF down .02 at 24.01…on 11.2million shares

AAPL down .58 at 108.03 on 13.5 million shares

FB up .39 at 105.02 on 6.5 million shares

Technical Commentary:

IWM +0.19%, QQQ -0.02%, SPY -0.17%, DIA -0.34%.

Stocks traded in a narrow range with light volume on Thursday’s half day of trading. 

Markets are closed on Friday for the Christmas Holiday.  Merry Christmas, have a wonderful and safe weekend

NDX gainers included QCOM, FB, GILD, AMGN, ALXN, BIIB, ILMN and NXPI.

SPX gainers included NAVI, CSRA, UAL, NEM, HRS, FCX, WDC, MU, AAL, CHK, FSLR.

MU +0.18, +1.26% rose after Wednesday’s negative earnings reaction.

SUNE +0.53, +9.83% on talks of new credit facility.

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

The SPX MFC green line is pointed up at 40. 

Short-term Chart Targets:

SPY =...207.25…

QQQ = 112.69, 114.13…

IWM = 114.94, 115.56…

                   

Support Levels

SPY = 201.55

QQQ = 111.05

IWM = 111.44

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Setups

Horizontal Breakout: IWM, KR, MAT, DPS, MYL, ROST, VRX, PG, ADBE, AMBA, ILMN, JD, LRCX, AIG, BABA, DAL, KWEB, PLAY, RCL, SEDG, YELP, TSL, NTES, CCL, CRUS, FINL,

Diagonal Breakout: SPY, QQQ, NVDA, PANW, SLCA, SVXY,

Bull Flag: ATVI, W, AMZN, EXPE, SCTY, WUBA, RUN, TERP, JASO,

Potential Bullish Divergence: LNKD

Bear Flag: VRSN, TPX,

At Support: NKE

Moves

New Highs: SONC, SPWR, CSIQ,

H Breakout: FSLR, AIG, MPEL

Bull Flag Bounce: SUNE, NTES

C- Pattern: YNDX

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49 of 100 NDX stocks closed higher and three were unchanged on Thursday.

55 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

NXPI, QCOM, SIRIS, VRTX  

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up