QQQ Leads Closes Above 30 DMA...Bounce Setups and Signals...

All nine sectors moved higher on Thursday …XLK, XLE and XLV were the strongest sectors while XLF was the weakest sector.  Oil futures rose .06 to close at 43.70.

Breadth strengthened as advancers led 2,267 to 755 on the NYSE and led 2,053 to 755 on the NASDAQ.

Thursday – strengthened, advancers led, +9

Wednesday – strengthened, decliners led, +5

Tuesday – weakened, decliners led, +0

Monday – strengthened, advancers led, +9

Friday – weakened, decliners led, +0

SPY up 2.13 at 215.28 on 145.7 million shares, 93% above average volume

VIX down 1.84 at 16.30

TLT down 0.58 at 133.67…on 10.2 million shares, 48% above average volume

Technical Commentary:

QQQ +1.55%, IWM +1.19%, DIA +1.01%, SPY +1.00%,

SPY gained $2.13 and closed above the high of Tuesday and Wednesday.  Short-term support 212.31 held for the fifth straight day.

QQQ was the leading broad market ETF for the third straight day while closing above its 30 DMA.  Leading NDX stocks included SWKS, NVDA, DISH, AAPL, VRTX, EA, MU, ADSK, TMUS, ADI, INTC, WDC, AMAT, MNST, NXPI, BIDU, PYPL, CTRP, AVGO, ATVI and TXN.

SINA +0.95, +1.25% gave a bull flag bounce chart signal.

MU +0.52, +3.07% gave a bull flag bounce chart signal.

YHOO +0.53, +1.22% gave a bull flag bounce chart signal.

INTC +94, +2.64% gave a bull flag bounce chart signal.

BIDU +4.32, +2.37% gave a bull flag bounce chart signal.

BURL +1.58, +1.92% gave a bull flag bounce chart signal.

FB +0.58, +0.45% forming a bull flag pattern.

WMB +0.10, +0.34% forming a bull flag pattern.

STX +0.38, +1.05% forming a bull flag pattern.

JD +0.12, +0.46% forming a bull flag pattern.

CHK +0.08, +1.12% forming a bull flag pattern.

V +0.52, +0.64% forming a bull flag pattern.

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: UAL, AAL, CHK, V, STX, FB, JD, WMB, SE, BURL, SYMC, EBAY, APA, WRK, ZION, BAC, JPM, GS, CHTR,  HRS, NFLX, AKAM, CSCO, WBA SWN, KSS, RL, NTAP, MSI,

Bull Flag Bounces include: XLNX, MU, ADSK, BABA, BIDU, SINA, YHOO, INTC, BURL, SCHW, WDC, AMAT, URBN, FL, STT, AMZN, QCOM,

Horizontal Breakout Setups include: BABA, CAVM, MU, INTC, AMAT, NVDA, PYPL, BURL, FL, VLO, MPC, MA, MS, GT, STT, ADI, AVGO, CMCSA, CSX, EA, LVNTA, NTAP, QCOM, SWKS, SYMC, TMUS, TXN, WDC,

Horizontal Breakout include: ATVI, PYPL, GT, SWKS, PCLN,

New Highs include: ETFC, NTES, LVS, LITE, AAPL, ATVI,

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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 down at 24, bearish.  SPY is still above short-term support.

93 of 100 NDX stocks closed higher on Thursday.

41 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 11

AMZN, AMGN, AVGO, BMRN, CSCO, DISH, GILD, LRCX, NVDA, QCOM, TMUS,

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral