SPX Continues Post FOMC Announcement Rise...Nearing Highs...RCL Cruising...

All ten sectors moved higher on Thursday …XLRE, XLP and XLV were the strongest sectors while XLE was the weakest sector.  Oil futures rose .50 to close at 46.12.

Breadth weakened slightly as advancers led 2,524 to 540 on the NYSE and led 2,020 to 797 on the NASDAQ.

Thursday – weakened slightly, advancers led, +10

Wednesday – strengthened, advancers led, +10

Tuesday – weakened, decliners led, +5

Monday – strengthened, advancers led, +5

Friday – weakened, decliners led, +2

SPY up 1.36 at 217.18 on 76.3 million shares, 11% below average volume

VIX down 1.28 at 12.02

TLT up 1.08 at 136.95…on 12.4 million shares, 71% above average volume

Technical Commentary:

IWM +1.44%, QQQ +0. 80%, SPY +0.63%, DIA +0.55%,

The SPX/SPY rises moving back to August highs and horizontal resistance.

Leading NDX stocks on Thursday included QVCA, DISCA, INCY, ALXN, TMUS, NCLH, WBA, ISRG and ESRX.

ADBE +7.16, +7.12% positive eps reaction.

RHT +2.98, +3.87% positive eps reaction.

EPS Positive Reactions

RHT, FDX, ADBE

Cruise line stocks RCL, NCLH and CCL broke through short-term resistance as CCL earnings approach.  CCL reports earnings before the open Monday September 26.

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.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: INTC, PYPL, SYMC, ETFC, LVS, VLO, UAL, CHK, URBN, ZION, BAC, GS, RL,

Bull Flag Bounces include: AAPL, EBAY, JD, GT, UAL, HRS, WBA MSI,

Horizontal Breakout Setups include: IWM, AMAT, ATVI, EA, FB, GILD, NTAP, QCOM, TXN, WDC, YHOO, V, KSS, BURL, FL, MPC, MS, SINA, WRK, SCHW, X, JPM, CHTR, MU, STX, SWKS, WMB, SE, STT, REGN, CTRP, ULTA, NUE, ISRG, NVDA, PCLN, ROST, FOSL,

Horizontal Breakout include: IWM, RCL, ADI, AMZN, CAVM, FL, DVA, AKS,

New Highs include: BABA, QQQ, IWM, LITE, MA, APA, ADSK, NTES, CMCSA, LMCA, ATVI, SWKS, PCLN, CSX, BIDU, NVDA, AMZN, ISRG

______________________

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 46, bullish. 

81 of 100 NDX stocks closed higher and one was unchanged on Thursday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 11

CTRP, DISCA, FISV, KHC, LVNTA, MDLZ, NCLH, ORLY, PAYX, TMUS, WBA,

Moving Below 30 DMA = 0

 

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up