AMZN, FB Move higher on Postive EPS...SPX Trades in Narrow Range...

Six of nine sectors moved higher on Thursday …XLP, XLU and XLF were the strongest sectors while XLB was the weakest sector.  Oil futures fell.

Breadth was mixed as advancers led 1,530 to 1,420 on the NYSE and decliners led 1,410 to 1,165 on the NASDAQ.

Thursday – mixed, advancers led on NYSE, +6

Wednesday – weakened, advancers led on NASDAQ, +3

Tuesday – strengthened, advancers led, +5

Monday – weakened, decliners led, +1

Friday – strengthened, advancers led, +9

SPY up .25 at 216.77 on 64.7 million shares, 35% below average volume

VIX down .11 at 12.72

TLT down .26 at 140.39…on 7.2 million shares, 20% below average volume

Technical Commentary:

QQQ +0.35%, SPY +0.12%, DIA -0.11%, IWM -0.31%,

SPY continued in its 11-day sideways trend while QQQ closed at a new high.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Earnings Reactions

AMZN +15.94, +2.16%

FB +1.66, +1.35%

GRPN +1.09, +28.84%

CRUS +8.05, +19.27%

GPRO +1.45, +12.53%

WFM -3.03, -9.01%

After-hours

GOOGL +31.39, +4.10%

Earning’s Announcements:

Positive Reactions: AMZN, FB, GRPN, CRUS, GOOGL

Negative Reactions: WFM

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  TXN, LMT, CNP, CMG, COST, NKE, AIV, EA, INTU, ATVI, PCLN, JNJ, DHI, CCI, UA, ALB, SBUX, MSFT, GGP, KSS, SPG, CBL, PAYX, FISV, CSX, ESRX, CF, VRSK, AES, EW, GPS, ROST,

Bull Flag Bounces include: HCN, MAT, CINF, UNH, MAC, CTXS, TSN, MNST, ORLY

Horizontal Breakout Setups include: ZION, XLB, SCHN, STLD, AMAT, JD, AA, NUE, AMBA, JBLU, SWN, VIAB, AAL, NCLH, TRIP, IRM, RCL, TSLA, CCL,

Horizontal Breakout include: STT,

New Highs include: X, GRMN, FB, BMRN, WHR, EXPE, BURL, LRCX, ADSK, QCOM, REGN, CPA, ADI, NTES, DLTR, EBAY, NVDA, URI, CSCO, KMX, STX, CERN, MLM, TJX, CBG, LB, NTAP, TGT, BXP, ULTA, BIIB, AMBA, 

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

The SPY MFC green line is in the upper zone at 96, bullish.

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

83 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

DISH,

Moving Below 30 DMA = 3

ADP, DISCA, WFM

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral