QQQ, SPY Bounce on Day 7 of Bull Flag Pullback...ULTA Reverses, Closes Higher After EPS...

Setups to Watch for Monday

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Technical Commentary

QQQ, SPY, = Bull Flag bounce on Day 7

DIA 7-day Bull Flag price pattern

IWM = hammer on day 7 of pullback at support

Non-farm payrolls report at 235K new jobs was above forecasts of 200K.

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

Sideways: XLB, XLRE

Down Trend: XLE

Breadth strengthened as advancers led 1,997 to 985 on the NYSE and led 1,652 to 1,190 on the NASDAQ.

Friday – strengthened, advancers led, +7 sectors

Thursday – strengthened slightly, decliners led, +4

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

Tuesday – continued weak, decliners led, 1 sector unchanged

Monday – weakened, decliners led, +1

IWM +0.44%, QQQ +0.42%, SPY +0.35%, DIA +0.23%,

SPY up .83 at 237.69 on 81.9 million shares, 10% above average volume,

VIX down .64 at 11.66

TLT up .41 at 117.25…on 9.2 million shares 4% above average volume

Oil futures were down 1.23 to close at 48.39 on Friday

The SPY MFC green line is pointed down at 78.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

SPX and NDX Highlights

SPX up 8 points at 2,372.

SPX  gainers INCY, ULTA, EL, FTR, PSX, LRCX, HRB, RIG, SPLS, MLM, ADSK, HOG, FLR, COTY, ABBV, GE, FMC, COH, TSN, AMAT, AVGO, ALK, CTSH, RCL, URBN, CTL, CCL, CMI, PHM, FLS, KSS, ILMN, AYI, PWR, EVHC, VMC, R, DHI, PNR, KLAC, LEN

QQQ closes up .55 at 131.39.

   

NDX point leaders: AAPL, INCY, AMGN, AVGO, GOOG, MSFT, FB, GOOGL, TXN, QCOM, CSCO, AMAT, ULTA and CTSH

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

68 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

ADSK, CHKP, FAST, STX,

Moving Below 30 DMA = 1

FOXA

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: DIA, XLF, FAS,

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

MU, NTAP, MYL, PAYX, NTES, INTU, MAR, BIIB, MNST,

BAC, GLW, ZION, HBAN, LUV, CC, GD, SODA, GM, USB, SQ,

One Day Pullback:

Bull Flag Bounces include: QQQ, SPY, XLK, XLP, NCLH, LRCX, CTRP, WFC, SCHW, FLEX, LOW, AAPL, (12)

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Horizontal Breakout Setups include: QQQ, XLK, SOXL, RCL, SHOP, QCOM, WUBA, MU, HIG, WFC, MXIM, PYPL, TXN, MS, C, NTAP, GLW, NRG, NCLH, AMD, FLEX, AMZN, YHOO, VIAB, GOOGL, MSFT, WUBA, DE, BABA, CL, WIX, JD, SRCL, TSCO, BBY, CELG, AAPL, PG, PANW, UPS, CCL, ADSK

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Horizontal Breakouts include: LRCX, KLAC, AVGO, MMM, SWKS, DD, CCL, ADSK, ULTA, ADBE, 

New Highs include: AMAT, ATVI, EA, FB, HOLX, NXPI, SYMC, UNH, CLX, PCLN, INCY, ULTA,

At Support Setups include: IWM, ADI, STX, WDC, STI, RF, CSX, IYR, WB, NUE, AA, TMUS, EBAY, NKE, COST, STLD, MGM, IBM, CAT, HAL, VALE, TLT, LNG, CHK, CF

Support Bounce: ULTA, INTC, ALK, ROST, PG, PANW, UPS, PCAR, ETFC, GDXJ, NVDA,

Break of Support: X, AMBA, MT, BHI, CLF, HES,

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Earnings

This week:

Monday –

Tuesday – HRB, URBN

Wednesday –

Thursday – SIG, SPLS, ULTA

Friday –

Earnings Reports

Positive earnings reactions

ULTA +12.65, +4.62%

2016 Q4 EPS (since Feb 15)

EPS Positive Reactions

ULTA, SIG, HRB, 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

SPLS, URBN, 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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