Day Five Bull Flag Pullback...HRB Gaps Up...URBN Gaps Down...

Setups to Watch for Thursday

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Technical Commentary

QQQ, SPY, DIA = 5-day Bull Flag price pattern following record highs last week

IWM = close below short term support for second day

Non-farm payrolls will be reported on Friday March 10, this week.

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

Sideways: XLB

Down Trend: XLE

Breadth strengthened slightly as decliners led 2,199 to 822 on the NYSE and led 1,689 to 1,167 on the NASDAQ.

Wednesday – strengthened slightly, decliners led, +4, 1sector unchanged

Tuesday – continued weak, decliners led, 1 sector unchanged

Monday – weakened, decliners led, +1

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

Thursday – weakened, decliners led, +1

QQQ +0.18%, SPY -0.19%, DIA -0.27%, IWM -0.66%,

Stock indexes were down on average volume on Wednsday.

SPY down .44 at 236.56 on 78.1 million shares, 5% above average volume,

VIX up .41 at 11.86

TLT down .64 at 117.78…on 11.3 million shares 28% above average volume

Oil futures were down 2.59 to close at 50.20 on Wednesday.  Oil prices fell after the weekly EIA Petroleum Report showed an 8.2 million barrel crude oil inventory increase vs. and forecast a 1.97 million increase – last week was 1.5 million increase

The SPY MFC green line is pointed down in the upper zone at 81 bullish, prepare to become defensive.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

SPX and NDX Highlights

SPX down 5 points at 2,363.

SPX  gainers HRB, TRIP, PPG, COH, M, LEN, JWN, KSS, VIAB, REGN, HOLX, AAP, ULTA, SPLS, FL, PHM, RHI, INCY, FOSL, VLO, QCOM, PVH, SIG, TSCO, EXPE, SWKS, MAS, ADSK, DG, RL, BBBY, LB, VRSN, MNST, BMY, DHI

QQQ closes up .23 at 130.74.

   

NDX point leaders: MSFT, AMZN, QCOM, GOOG, FB, REGN, GILD, BIIB, CELG, GOOGL and JD

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

68 NDX stocks are above their 30 DMA, pullback day 5.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

BMRN, CHKP, ULTA, VOD,

Moving Below 30 DMA = 2

CSX, LVNTA,  

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: QQQ, SPY, DIA, XLK, XLF, FAS, XLI, XLP,

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

FAST, INTU, MU, MYL, PAYX, NTES, STX, LRCX, NTAP, CTRP, NCLH, MAR,

GLW, FLEX, MS, SQ, LOW, BAC, WFC, ZION, HBAN, HIG, SCHW, LUV, CC, GD, SODA, GM,

One Day Pullback:

Bull Flag Bounces include: MNST, JD, AMZN, KLAC, SHOP, PCLN, YHOO, MMM, C, SRCL, SWKS, BIIB, CELG, CHKP, INCY, ULTA, (16)

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Horizontal Breakout Setups include: MSFT, VIAB, TSCO, TXN, WUBA, PYPL, SOXL, GOOGL, BBY, ADBE, DE, DD, NRG, BABA, MXIM, CL, AVGO, WIX, AA, WDC,

Horizontal Breakouts include: QCOM, SYMC,

New Highs include: AMAT, ATVI, EA, FB, HOLX, NXPI, SYMC, UNH, ADI, AAPL, CLX, MU,

At Support Setups include: AMD, USB, CSX, IYR, STI, RF, INTC, ALK, CCL, WB, X, NUE, TMUS, ROST, PG, IBM, EBAY, NKE, PANW, UPS, AMBA, PCAR, ETFC, COST, CAT, STLD, MGM, GDXJ,

Support Bounce: RCL, NVDA, ULTA, ADSK,

Break of Support: HAL, VALE, TLT, LNG, MT, CHK, BHI, IWM, CLF, HES, CF,

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Earnings

This week:

Monday –

Tuesday – HRB, URBN

Wednesday –

Thursday – SIG, SPLS, ULTA

Friday –

Earnings Reports

Positive earnings reactions

HRB +3.10, +14.88%

Negative earnings reactions

URBN -0.66, -2.60%

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