Dow Closes Above 20,000 First Time in History...NDX, SPX New Closing High...Financials Regain Momentum...

Up Trend: XLI, XLB, XLY, XLE, XLK, XLP, XLRE, XLV

Sideways: XLU, XLF

Down Trend: XLE

Breadth weakened slightly as advancers led 1,947 to 1,077 on the NYSE and led 1,962 to 809 on the NASDAQ.

Wednesday – weakened slightly, advancers led, +7 sectors

Tuesday – strengthened, advancers led, +8 sectors

Monday – weakened, advancers led on the NYSE, +4

Friday – strengthened, advancers led, +9

Thursday – weakened, decliners led, +1

Oil futures were unchanged to close at 52.94 on Wednesday.   

SPY up 1.97 at 229.57 on 84.4 million shares, 3% above average volume,

VIX down .26 at 10.81

TLT down 1.51 at 118.80…on 11.1 million shares, 11% above average volume

Technical Commentary

QQQ +1.01%, IWM +0.94%, SPY +0.87%, DIA +0.79%,

The Dow Jones Industrial Average closed at 20,068.50, above 20,000 for the first time in history, while the NDX and SPX made new all-time closing highs on Wednesday.

The VIX closed at 10.81, a new 52-week low.

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SPX up 18 points at 2,298, a new all-time closing high.

SPX  gainers STX, ROK, HBAN, HBI, WDC, ISRG, TEL, BA, FLR, IP, VRTX, WFC, GM, QCOM, WY, CFG, NSC, MLM, CHK, PGR, MU, FTI, SPGI, STI, CXO,DSU, JEC, ETN, WRK, COTY, PH, FOSL, PNR, LUK, DLPH, RF, UAA, MS, CMA, PCAR, RIG,

QQQ makes a new closing high up 1.25 at 125.43.

   

NDX point leaders: AAPL, AMZN, FB, GOOG, QCOM, GOOGL, GILD, AVGO, AMGN, TXN, STX, ISRG, MSFT, WDC, CELG, YHOO and CSX

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Earnings

This week:

Monday – HAL, MCD, ZION

Tuesday – AA, AKS, ATI, BABA, CA, DD, GLW, ISRG, JNJ, KMB, LMT, MMM, STLD, STX, TRV, TXN, VZ,

Wednesday – BA, CTXS, EBAY, FCX, FFIV, HBAN, HES, LRCX, LVS, MUR, NSC, QCOM, STT, T, URI, UTX, VRTX, WDC, XLNX

Thursday – BHI, BIIB, CAT, CELG, CMCSA, ETFC, F, FCAU, GOOGL, INTC, JBLU, JNPR, KLAC, LUV, MSFT, MXIM, PYPL, RCL, SBUX, VMW, WYNN

Friday –

Earnings Reports

Positive earnings reactions

STX +5.23, +13.97%

HBAN +0.77, +5.81%

ISRG +33.95, +5.10%

BA +6.81, +4.24%

NSC +3.91, +3.35%

Negative earnings reactions

STLD -2.39, -6.59%

CA -1.64, -4.98%

FCX -0.52, -3.06%

HES -1.06, -1.84%

STT -2.72, -3.38%

After-hours reports

EBAY +2.61, +8.63%

CTXS -3.96, -4.14%

LRCX

LVS

QCOM

WDC

2016 Q4 EPS

EPS Positive Reactions

STX, BA, HBAN, ISRG, NSC, ATI, GLW, RMD, DHI, DD, MB, BABA, CA, YHOO, SWKS, KSU, PG, CFG, COL, IBM, CHKP, NFLX, UNP, FAST, WFC, SNX, MSM, CUDA, GPN, MU, CAG, NKE, KMX, CCL, JBL

EPS Negative Reactions

STLD, CA, FCX, HES, STT, AKS, VZ, JNJ, LMT, MMM, TRV, HAL, MCD, GE, NTRS, CSX, C, CMA, MS, UNH, AYI, CMC, STZ, SCHN, RHT, BBBY, FINL, AGN, FDX, GIS, ADBE

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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.

Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

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: SQ, FISV, AAPL, MCD, NFLX,

One Day Pullback: ATI, CHKP, DISCA, MT,

Bull Flag Bounces include: ATVI, SHOP, GM, COST, MAR, AAPL,

At Support Setups include: MMM, TRV, ADP, ROST, HES, X, NUE, LUV, EBAY, CTXS, APA, CLF, GD,

Support Bounce: MS, DAL, AAL, HIG, GS, ZION, HBAN, KEY, MU, IWM, FAS, PNC, BAC, CMA, JPM, RF, USB, FTI, C, BHI, UTX

Horizontal Breakout Setups include: MS, TMUS, INTC, IYR, ADSK, MSFT, PAYX, WB, NTES, PCLN, ADI, NVDA, EA, FAST, ALK, SHOP, GM, COST, MAR, ETFC,

ICE, FCAU, UPS, MGM,

Horizontal Breakouts include: SPY, DIA, BA, SOXL, HAL, FB, PCLN, CFG, AAPL, PCAR, SBUX, RCL, WFC, ICE, HABN, STI, USB, MGM, XLNX,

New Highs include: STX, LNG, BA, KLAC, STI, CFG, SCHW, SOXL, SPY, HAL, PWR, WDC, QQQ, AVGO, YHOO, ADBE, AMZN, TXN, CSX, LRCX, RCL, NCLH, JD, AMAT, MXIM, GOOGL, CHTR, BABA, VALE, NRG, DE, ATI, CF, NFLX, SYMC, SWKS, TSLA, VIAB, CMCSA,

Break of Support: AKS, TLT, STLD,

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The SPY MFC green line is in the upper zone at 87 bullish. 

75 of 100 NDX stocks closed higher on Wednesday.

77 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

AAL, AKAM, EBAY, HOLX, STX,

Moving Below 30 DMA = 5

CA, DISCA, ESRX, SBAC, VOD

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up