Bull Flags Form on Friday as Buyers Buy, Creating Balance with Sellers Following Thursday's Selloff...COST Falls, BIG Rises...

Setups to Watch for Monday

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Technical Commentary

SPY, DIA, QQQ, IWM = Bull Flag price pattern following record highs on Wednesday

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Non-farm payrolls will be reported on Friday March 10, one week from today.

Up Trend: XLF, XLI, XLB, XLY, XLK, XLP, XLU, XLV, XLRE

Sideways: XLE

Down Trend:

Breadth strengthened as advancers led 1,537 to 1,432 on the NYSE and decliners led 1,444 to 1,392 on the NASDAQ.

Friday – strengthened, advancers led on the NYSE, +4 sectors

Thursday – weakened, decliners led, +1

Wednesday – strengthened, advancers led, +8

Tuesday – weakened, decliners led, +2

Monday – strengthened, advancers led, +5

QQQ +0.18%, SPY +0.06%, DIA +0.01%, IWM -0.07%,

SPY up .15 at 238.42 on 81.9 million shares, 6% above average volume,

VIX down .85 at 10.96

TLT up .31 at 119.354…on 9.5 million shares 1% above average volume

Oil futures were up .64 to close at 53.20 on Friday.  

NVDA is a MACD bullish divergence setup.

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The SPY MFC green line is in the upper zone at 92 bullish. 

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

SPX and NDX Highlights

SPX up 1 point at 2,383, following Thursday’s 14 point selloff.

SPX  gainers MU, UAL, INCY, GPN, ALK, MET, EVHC, AAL, FAST, TRIP, LUV, UHS, FTR, OKE, WMB, CSX, PCAR, ALB, WDC, CBS, HRB, LOW, NRG, SWN, MCK, PXD, ALXN, AA, BIIB, MNST, NEM, PWR

QQQ closes up .24 at 131.02.

   

NDX point leaders: AAPL, MSFT, AMGN, CELG, MU, BIIB, FB, CSX, INCY, TMUS and AAL

63 of 100 NDX stocks closed higher and one was unchanged on Friday.

78 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

AAL, PCAR, WDC

Moving Below 30 DMA = 4

CHTR, DISCA, DLTR, ROST

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: QQQ, SPY, DIA, IWM, XLB, XLF, FAS, XLI, XLK, XLP, IYR, XLY, SOXL

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AXP, BA, DIS, JPM, MCD, UTX, GS, IBM, PG,

ADSK, AVGO, CHKP, CTRP, EBAY, GOOGL, JD, KLAC, LRCX, MCHP, MSFT, NCLH, NTES, PAYX, ROST, SBUX, SWKS, SBUX, ROST, TXN, VIAB, YHOO

GLW, SCHW, C, WFC, USB, ZION, STI, RF, HBAN, HIG, LUV, ALK, RCL, FLEX, SQ, SHOP, WIX, CC, GD, SODA, HAL, WB, CLF, SRCL, VALE, AMD,

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One Day Pullback: X, STLD, NUE,

Bull Flag Bounces include: LOW, INTU, TMUS, AMAT, (4)

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Horizontal Breakout Setups include: PYPL, ADBE, SYMC, WDC, AMAT, MS, CSX, ATVI, DE, AA, GM, DD, DIS, AMZN, TMUS, ULTA, NRG, BABA, CL, INTC, CCL,

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Horizontal Breakouts include: MU, FB, NTAP, GM

New Highs include: MU, UNH, PCLN, FB, BAC, AAPL, MMM, ADI, CLX, STX,

At Support Setups include: NVDA, TLT, LNG, MAR, CAT, NKE, PANW, MXIM, UPS, MT, FCX, MGM, HES, CF, CHK, AMBA, BHI,

Support Bounce: BBY, PCAR, ETFC, GDXJ

Break of Support: COST

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Earnings

Next week:

Monday –

Tuesday – HRB, URBN

Wednesday –

Thursday – SIG, SPLS, ULTA

Friday – 

Earnings Reports

Positive earnings reactions

BIG +1.98, +3.79%

Negative earnings reactions

COST -7.72, -4.34%

2016 Q4 EPS (since Feb 15)

EPS Positive Reactions

BIG, MNST, BURL, DLTR, AVGO, LOW, MYL, DCI, WUBA, ALB, BWXT, IONS, PCLN, ENDP, FL, KSS, INTU, JWN, NCLH, CTRP, WMT, HD, HSIC, XRAY, SHPG, NTES, SRCL, NTAP, CSCO, SHPG, WIX, ADI, WYN, SODA,

EPS Negative Reactions

COST, KR, PANW, BBY, AMBA, ROST, TGT, QVCA, BIDU, BMRN, TSLA, SINA, LB, SLCA, VRSK, DISH, TRIP, ALXN, FOSL, AIG, DVN, KHC,

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