QQQ, XLY and AMZN Make New All-time High...STX and WDC Lead NDX...

Technical Commentary

The rally continued on Thursday as QQQ and XLY made a new all-time closing high.

The intermediate and long-term trends are still up.

IWM +0.76%, SPY +0.32%, DIA +0.32%, QQQ +0.17%,

                 (click image to enlarge)

Up Trend: XLY, XLK, XLU, XLV

Sideways: XLB, XLF, XLRE, XLI, XLP,

Down Trend: XLE

Breadth weakened slightly as advancers led 1,823 to 1,182 on the NYSE and led 1,724 to 1,160 on the NASDAQ.

Thursday – weakened slightly, advancers led, +7 sectors

Wednesday – weakened slightly, advancers led, +7

Tuesday – strengthened, advancers led, +9

Monday – strengthened, advancers led, +2

Friday –weakened, decliners led, +1

SPY up .75 at 236.29 on 56.7 million shares, 30% below average volume,

VIX up .12 at 11.54

TLT down .98 at 120.36…on 7.0 million shares 11% below average volume

Oil futures were up .73 to close at 50.33 on Thursday.

The SPY MFC green line is pointed up at 51, bullish with the SPY remaining above short-term support/resistance at 234.72.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

SPX and NDX Highlights

SPX up 7 points at 2,368.

SPX gainers COP, FCX, COF, GCI, HBAN, FITB, KEY, RF, ZION, AMD, NAVI, GPN, LNC, HPQ, BAC, CMG, XOM, DNB, PRU, PBCT, SPLS, BEN, SYF, CMA, STI, C, NWSA, PNC, RJF, QRVO, MET, AMP, AA, BK, BBY, BBT, SCHW, FDX, ETFC, UNM

                   (click image to enlarge)

QQQ closes up .22 at 132.47.

   

NDX percentage gainers: STX, WDC, VIAB, ESRX, DISCA, NVDA, MU, LBTYA, AAL, SIRI, DLTR, ALXN, NFLX, SBUX, BIDU

                  (click image to enlarge)

64 of 100 NDX stocks closed higher and two were unchanged on Thursday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

CMCSA, DISCA, INTC, SIRI, STX

Moving Below 30 DMA = 3

FISV, QCOM, XRAY

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: CCL, RCL, XLU, AMAT, FISV, MXIM, HD, JNJ, CLX, WIX, UNH, MNST, TLT, GDXJ,

Bull Flag Bounces include: NVDA, TXN, FLEX, MMM, EBAY, (5)

One Day Pullback: NRG,

MACD Histogram Bullish Divergence: IBM, PANW,

Horizontal Breakout Setups include: NVDA, SYMC, UAL, X, STX, QQQ, DIA, XLE, ROST, IYR, BA, EA, AVGO, DIS, LVS, ADBE, CTRP, MCD, AAL, LUV, CSX, YHOO, HOLX, KLAC, LRCX, PYPL, GLW, SWKS, SOXL, INTC, ALK, TSLA, AMD, DAL, EXPE, HAS, ADI, CF, SPY, LNG, AA,

Horizontal Breakouts include: STX, ULTA, RF, ZION, STI, NXPI, NFLX, CHK, SWN,

New Highs include: QQQ, XLY, WDC, CC, AMZN, FB, ATVI, HUN, WYNN, AAPL, MAR, PCLN, BABA

At Support Setups include: NTES, ADP, CMCSA, V, PAYX

Support Bounce: GS, NUE, AMBA,

Break of Support: 

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Earnings

This week:

Monday – DRI, RHT

Tuesday – MKC, CCL, 

Wednesday – PAYX

Thursday –

Friday –

Earnings Reports

Positive earnings reactions

DRI +7.04, +9.31%

RHT +4.28, +5.21%

Negative earnings reactions

PAYX -1.52, -2.51%

After-hours reports

MU +2.72, +10.28%

2016 Q4 EPS (since Mar 7)

EPS Positive Reactions

DRI, RHT, CCL, MU, PVH, CTAS, FDX, TIF, ADBE, ORCL, ULTA, SIG, HRB

EPS Negative Reactions

PAYX, MKC, ACN, NKE, LEN, GIS, URBN,

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