SPX Continues Down...VIX Rises and Confirms...QQQ Weak on FB, AAPL...More EPS Winners and Losers...

Four of ten sectors moved higher on Thursday …XLE, XLU and XLF were the strongest sectors while XLK was again the weakest sector.  Oil futures dropped .84 to close at 44.67, its lowest close since Sep. 23.

Breadth strengthened as decliners led 1,801 to 1,198 on the NYSE and led 1,809 to 928 on the NASDAQ.

Thursday – strengthened, decliners led, +4

Wednesday – weakened, decliners led, +0

Tuesday – weakened, decliners led, +1

Monday – strengthened, advancers led on the NYSE, +6

Friday – strengthened, decliners led, +5

SPY down .96 at 208.78 on 88.9 million shares, 2% above average volume

VIX up 2.76 at 22.08

TLT down 1.01 at 130.57…on 6.0 million shares, 22% below average volume

Technical Commentary:

DIA -0.13%, SPY -0.46%, IWM -0.48%, QQQ -0.98%,

SPX continued below 2,120, closes at 2,088

Bearish on the SPX below 2,115

VIX rises for eighth straight day

QQQ down on weakness in FB and AAPL

FB dropped 5.64% on guidance of slowing growth in mid-2017

Jobs report Friday

SPX Leaders: MRO, FMC, FOXA, RIG, LNC, AA, HOLX, MUR, BX, HAR, PRU, NOV, SPGI, AES, MET, DVN, NRG, DISCA, VIAB, AVY, AIZ and UNM

Earning winners and losers again indicates institutional money is rotating based on earnings.  Tuesday’s winners included MRO, FMC, FOXA, RIG, LNC, HOLX, BDX, HAR and PRU.  Losers included FSLR, WYNN, APA, CHD, FB, XEC, FOSL and AIG.

After-hours Trading

Higher: UBNT

Lower:

Earnings Announcements

Monday – CHKP, DO, SCTY, TSO,

Tuesday – ADM, COH, GILD, HRS, HLF, ILMN, MOS, NFX, NBL, PAYC, DATA, CAVM, VRSK, SQ, X

Wednesday – BABA, AIG, FB, FSLR, QCOM, HSIC, SHOP, FOXA, UVE, YELP, RIG

Thursday – DDD, APA, ATVI, CHTR, CI, CS, FOSL, LVS, LBTYA, MNST, SWKS, SBUX, SLCA, UBNT

Friday – MCHP,

EPS Positive Reactions

RIG, DDD, YELP, SHOP, ABC, SQ, HSIC, ZTS, DVN, NBL, ANTM, ADP, EA, VRSK, ADM, HRS, MOS, CHKP, COH, TSO, RCL, HBI, SRCL, HSY, EMN, VRSN, UBS, BIDU, CRUS, EXPE, MO, CVX, FFIV, WDC, COP, DOW, AKAM, JNPR, BA, NCR, OI, FLIR, ROL, TSS, LMT, KEY, FCX, VLO, BHI, SAVE, AKS, TMUS, MCD, PYPL, MSFT, MXIM, AXP, SNA, MAT, BK, STLD, WBA, ALK, URI, HAL, MS, USB, NFLX, HOG, UNH, GS, CE, DPZ, CMA, UAL, HAS, DAL, CSX, COST, RHT, FDX, ADBE

EPS Negative Reactions

FSLR, WYNN, CS, APA, FB, UVE, AIG, CHTR, PAYC, DATA, CAVM, BABA, X, GILD, HLF, ILMN, NFX, DO, SCTY, AMZN, MCK, ABC, CAH, GT, ABBV, LM, COG, CA, AMGN, AET, LITE, XOM, CLF, ORLY, NEM, POT, AAPL, EW, CMG, LUV, CMCSA, UA, P, WHR, PNRA, JBLU, GM, MMM, NLSN, WAT, SHW, MAS, PNR, MCO, EBAY, TRV, LRCX, TSCO, INTC, ISRG, ST, JNJ, IBM, AA, FAST, ILMN, MU, PAYX, CCL

EPS Neutral Reactions

CI, QCOM, FOXA, GOOGL, PSX, SKYW, BX, CA, TWTR, UPS, TSLA, MO, NXPI, STT, GD, KO, ESRX, VRTX, PCAR, AAL, NUE, XLNX, CTXS, LLTC, BAC, C, JPM, PNC

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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SStrong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: STLD, AKAM, CE, NFLX, CMA, GS, USB, JPM, BAC, C, MS, RCL, HSY, MLM, NCLH, CCL, SCHN, MSFT, PYPL, TMUS, WDC, NVDA, QCOM, MXIM, SAVE, MDLZ, VRSN, STI, EXPE, HAS, ZION, DPZ,

Bull Flag Bounces include: AKS,

Horizontal Breakout Setups include: NUE, UAL, SQ, NEM, AAL, 

Horizontal Breakouts include:

New Highs include: DAL,

Horizontal Break of Support Setups include: TRIP, CAVM, DO, ATVI, CMCSA, DLTR, PCAR, ULTA, NTES,

Break of Support: ALK, ADSK, COST, SBUX, AMZN, BBBY, BIDU, CERN, CTRP, JD, TSLA, 

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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 19, bearish. 

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

25 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 2

CELG, ESRX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down