Oil Stocks Run Following Oil Bull Flag Bounce...Airlines Fly...Financials Steady as SPY Trading Range Now 24 Days...

Three of nine sectors moved higher and on Thursday…XLE, XLU and XLV were the strongest sectors while XLY was the weakest sector.  Oil futures rose 1.18 to close at 47.32 today following Wednesday’s bull flag bounce entry.

Breadth weakened as decliners led 1,654 to 1,377 on the NYSE and led 1,431 to 1,386 on the NASDAQ.

Thursday – weakened, decliners led, +3

Wednesday – strengthened, advancers led, +5

Tuesday – weakened, advancers led, +6

Monday – Labor Day Holiday

Friday – strengthened, advancers led, +9

SPY down .50 at 218.51 on 74.1 million shares, 18% above average volume

VIX up .57 at 12.51

TLT down 1.75 at 137.79…on 14.3 million shares, 117% above average volume

Technical Commentary:

IWM -0.20%, SPY -0.23%, DIA -0.27%, QQQ -0.59%,

SPY stayed within its $3.57 trading range for the twentieth-fourth day.  Bonds TLT dropped on rising volume as the broad stock indexes paused once again. 

Airline stocks DAL UAL AAL LUV and ALK continued to rise on Thursday.

FB -0.78, -0.60% pauses on Thursday after new all-time high on Wednesday.

45 Up Trending Stocks that you might want in your watch list:

ADBE, ADSK, AMAT, CHTR, CSCO, CTRP, EA, FB INTC, MU, NTAP, NTES, NVDA, QCOM, SWKS, SYMC, XLNX, FAS, IWM, UBNT, YELP, AMD, CHK, XEC, GT, MSI, TSN, CTAS, HRS, WMB, CAVM, BURL, WRK, BABA, SINA, JPM, V, BAC, ZION, MS, SCHW, GS, C, FL, HRL

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.

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: C, ZION, WFC, BAC, SCHW, AMBA, CHTR, BURL, BIDU, MSI, XLNX, TIF, URBN, SWKS, MSFT, HLT, AVGO, ADBE, TSN, HRL, SINA, CAVM, KSS, RL, CBG, YELP, TWTR, FL,

Bull Flag Bounces include: MS, URBN,

Horizontal Breakout Setups include: SPY, QQQ, ETFC, ADSK, URI, KMI, CBL, UBNT, NVDA, KMX, PAYX, WDC, PCLN, HPE, NFLX, ATI, ROST, NUE

Horizontal Breakout include: SWN, VLO, MU, MPC,

New Highs include: CHK, SWN, WMB, AAL, GS, ETFC, JPM, MS, GT, JD, BABA, SYMC, WDC, IWM, FB, STX, WRK, V, NTAP, FAS, STT, HRS, SYMC, XLF, EA, INTC, AMAT,

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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 pointed up at 78, bullish. 

39 of 100 NDX stocks closed higher on Thursday.

51 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

DISH, EXPE, LMCA

Moving Below 30 DMA = 8

AAPL, BIIB, CERN, CTSH, CTXS, INTU, MSFT, SBUX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral