DIA, SPY, QQQ Another New-high Close...Financials, Healthcare Bull Flag Setup...

Eight of nine sectors moved higher and one was unchanged on Thursday …XLE, XLY and XLI were the strongest sectors while XLP was the weakest sector.  Oil futures rose 1.97 to close at 43.46.

Breadth strengthened as advancers led 1,876 to 1,101 on the NYSE and led 1,656 to 959 on the NASDAQ.

Thursday – strengthened, advancers led, +8

Wednesday – weakened, decliners led, +4

Tuesday – strengthened, advancers led, +4

Monday – weakened, advancers led on NYSE, +4

Friday – strengthened, advancers led, +8

Thursday – weakened, advancers led on NYSE, +4

SPY up 1.01 at 218.65 on 72.4 million shares, 1% below average volume

VIX down .37 at 11.68

TLT down 1.25 at 138.91…on 7.6 million shares, 7% below average volume

Technical Commentary:

DIA +0.64%, IWM +0.48%, SPY +0.46%, QQQ +0.43%,

DIA, SPY, QQQ each make a new high close.. 

SPY, QQQ, IWM, XLK horizontal bull flag setups

DIA, XLB, XLI, XLY horizontal breakout setups

XLF, XLV bull flag setup

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.

Earning’s Announcements:

Positive Reactions: M, KSS, JWN

M +5.81, +17.09%

KSS +6.15, +16.17%

JWN +3.33, +7.53%

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:  PCAR, PCLN, NTES, SIRI, DHI, BIIB, JNJ, VLO, WHR, CNC, MPC, ALXN, CELG, DISCA, MAR, JPM, ZION, ETFC, HPE, EA, BAC, C, WFC, FAS, STI, TMUS, BXP, JD,

Bull Flag Bounces include: XLV, GRMN, VLO, UNH, MRK, AMGN, ILMN, MNST, NFLX, REGN, SYMC, WMB,

Horizontal Breakout Setups include: UA, PG, DLTR, BX, CAT, STX, SBAC, MU, AMAT, TSN, CSCO, LMT, BURL, HLT, ORLY, COST, CINF, QCOM, EBAY, TXN, FB, URI, ROST, MAT, LB, CSX, MXIM, ADI, KHC, BA, EXPE,

Horizontal Breakout include: ADSK, AMZN, IBM, KMX, ULTA, TJX,

New Highs include: AMBA, AVGO, CHTR, CTRP, LMT, NTAP, NVDA,STT, SPY, QQQ, MSFT, CERN, ULTA, CBL, CBG, TSN, IWM, XLNX, AAPL, XLF, 

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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 97, bullish.

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

78 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

BBBY, FAST, INTU, PAYX

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral