SPY, QQQ, DIA, IWM Pause...EBAY, BIIB, QCOM Gain on EPS...INTC, TSCO Drop on EPS...After-hours: AMD Gains...SWKS Falls...

Two of nine sectors moved higher on Thursday …XLU, XLV and XLY were the strongest sectors while XLI was the weakest sector.  Oil futures fell 1.12 to close at 44.54.

Breadth weakened as decliners led 1,719 to 1,254 on the NYSE and led 1,599 to 964 on the NASDAQ.

Thursday – weakened, decliners led, +2

Wednesday – strengthened, advancers led, +6

Tuesday – weakened, decliners led, +2

Monday – strengthened, advancers led, +7

Friday – weakened, advancers led, +2

SPY down .82 at 216.26 on 67.5 million shares, 35% below average volume

VIX up .97 at 12.74

TLT up .28 at 138.56…on 10.3 million shares, 12% above average volume

Technical Commentary:

QQQ -0.23%, SPY -0.38%, DIA -0.43%, IWM -0.47%,

SPY, DIA, XLI, XLY, XLP, XLU, XLY near all-time high bull flag

XLV new YTD high close

QQQ, IWM, XLB, XLE, XLF bull flag

SPY, DIA, QQQ and IWM pulled back on Thursday.  DIA slumped with 24 stocks moving lower with weakest stocks INTC, AXP, NKE, GS, HD and BA.  Just six stocks rose MCD, CAT, DD, PFE, JNJ and MRK.

SPY volume was again light on Thursday.   

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

EBAY +2.94, +10.89%

URI +6.39, +9.15%

BIIB +20.04, +7.64%

QCOM +4.11, +7.36%

INTC -1.42, -3.98%

TSCO -3.39, -3.64%

NUE -1.77, -3.27%

After-hours

AMD +0.59, +2.09%

SWKS -3.33, -4.70% 

Earning’s Announcements:

Positive Reactions: EBAY, BIIB, QCOM, AMD

Negative Reactions: INTC, TSCO, SWKS

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:  AA, X, EQR, ATI, NEM, SYK, O, KIM, AES, MNST, GPRO, SCHN, AAL, ADI, AMAT, COST, INTC, LMT, AMBA, MSFT, JD, ESRX, TMUS, OKE, NKE, CCI, AWK, BCR, AIV, MDLZ, CMCSA, EA, NEE, SWN, KHC, WDC, CA, INTU, NI, PNW, CF, EIX, RIG, NFX, ATVI, MAT, NCLH, PAYX, DVN, CINF, CVX, NKE,

VRSK, NUE, STLD, PCLN, FISV, ADP, TRIP, CCL, ORLY, CSX,

Bull Flag Bounces include: MAR, CMS, VIAB, FOSL, WEC,

Horizontal Breakout Setups include: SPG, FB, NVDA, LRCX, NXPI, TSLA, PYPL, NTES, DLTR, AKAM, VTR, NTAP, CNP, BMRN, UNH, SE, ADSK, CTXS, UDR, SBUX, EW, N, AMZN, IRM, RCL,

Horizontal Breakout include:  BXP, CBG, KMX,

New Highs include: EBAY, URI, KMX, QCOM, BIIB, GGP, HCN, STX, GPS, JNJ, CBL, REGN, ROST, CSCO, EXPE, TXN, ULTA, CPA, MAC, DHI, CERN, MLM,

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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 95, bullish.

27 of 100 NDX stocks closed higher on Thursday.

88 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

DISH

Moving Below 30 DMA = 4

CHKP, EA, TSCO, WBA

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral