Eight of nine sectors moved higher on Thursday…XLE,
XLU and XLK were the
strongest sectors while XLV was the weakest sector. Oil rose $1.56 to
close at 33.72.
Breadth strengthened
as advancers led decliners
led 2.03 to 1 on the NYSE and 1.07 to 1 on
the NASDAQ.
Thursday-
strengthened, advancers led
Wednesday – weakened, decliners led
Tuesday –
strengthened, advancers led
Monday – weakened, decliners led
Friday – strengthened, decliners led
SPY up
.98 at 189.11 on 143.7
million shares, 6% below average volume
VIX down .69
at 22.42…
TNX down .16 at 19.85…
TLT up .18 at 126.23…on
10.5 million shares, 18% above average volume
XLF up .01 at 21.13…on
64.9 million shares, 13% above average volume
AAPL up .67 at 94.09 on 55.6 million shares, average volume
FB up 14.66 at 109.11 on 107.4
million shares, 250% above average volume
Technical Commentary:
QQQ +1.41%, DIA +0.76%, SPY
+0.52%, IWM -0.02%.
After Hours Alert: AMZN -85.35, -13.43%, EA
-5.54, -7.94% on negative earnings reaction, MSFT +2.19, +4.22%, SWKS +2.42,
+3.74% on positive earnings reaction
Regarding
Wednesday’s FOMC reaction we wrote, “Remember, economic announcements generally may add volatility to
the price action but typically don’t alter trend. The nine-day trend is sideways and the five-day trend is up. Wednesday’s selloff pushed price back to
the three-day support area and still represents a higher low area in the five-day trend. Chart Signals does not view Wednesday’s
price fluctuation as trend change.
“One day does not a trend make.”’
The SPX rallied on Thursday.
FB +14.66, +15.52%, gapped up on a positive earnings
reaction.
PYPL +2.65, +8.39%, gapped up on a positive earnings
reaction.
CAT +2.76, +4.73%, gapped up on a positive earnings
reaction.
CTXS +2.61, +3.96%, gapped up on a positive earnings
reaction.
CHKP +1.64, +2.18%, gapped up on a positive earnings
reaction.
EBAY -3.29, -12.45%, gapped down on a negative earnings
reaction.
QCOM -3.94, -8.29%, gapped down on a negative earnings
reaction.
CELG -5.10, -4.98%, gapped down on a negative earnings
reaction.
V -1.58, -2.23%, gapped down on a negative earnings
reaction.
Earnings this week:
Monday: MCD, HAL, KMB
Tuesday: DD, JNJ, MMM, PG,
AAPL, CA
Wednesday: BA, BIIB, LRCX,
CTXS, EBAY, FB, PYPL, QCOM, SNDK, TSCO, TXN, UTX, VRTX
Thursday: CAT, CELG, CHKP, V,
AMGN, AMZN, EA, KLAC, MSFT, SWKS, WDC
Friday: AAL, CVX, PCAR,
STX
YTD:
SPX Leaders: SWN, EQT, SE, RRC, M, COG, NEM, VIAB, ED, TWX
(80)
SPX Losers: ESV, URI,
FCX, BWA, WRK, AN, MU, CHK, AA, ADS
NDX Leaders: VIAB, DISCK, KHC, FB, CTSH, DLTR, XLNX, EA, ORLY,
MAT (11)
NDX Losers: INCY, MU BMRN,
NCLH, STX, VRTX, ADSK, JD, TRIP, TSLA
DJI Leaders: VZ, WMT, MCD, PG
DJI Losers: AXP, DD, BA, CSCO,
JPM, INTC, GS, IBM, DIS, AAPL
Remember: “It’s
a market of stocks, not just a stock market.”
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 29.
__________________
Setups
Horizontal Breakout: AVGO, DPS, CA, DLTR, JNJ, WMT, TWX, EAT,
SPWR, CSIQ, PSA, CTSH, ADI, ROST, XLNX,
Diagonal Breakout: TSL, EXR,
CUBE,
Bull Flag: HAS, M
Gap Up: MSFT, SWKS
Gap Down: AMZN, EA,
Bear Flag: JAH, LVLT, MAS, CSCO, HD, JPM, UTX,
At Support: AAPL, BA, X, GILD, AIG, TEVA, DIS, ESRX, DD, ADBE, BIDU,
PCLN, TRIP
Moves
New Highs: MCD,
H Breakout: ITW
Gap Up: FB, PYPL,
CAT, CTXS
Gap Down: EBAY, QCOM, CELG
Bear Flag: ESRX, NVDA,
Support Break: AXP, AKAM, CRM, LUV,
______________________
49 of 100
NDX stocks closed higher on Thursday.
19
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 7
AMZN, FAST, FB, FISV, PYPL, SBUX,
TSCO
Moving Below 30 DMA = 0
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Neutral
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