Thursday, March 9, 2017

Day Six Bull Flag Pullback, QQQ, SPY Form Hammer...SIG Gaps Up on EPS...ULTA Gaps Down After-hours...


Setups to Watch for Friday

                  (click image to enlarge)

Technical Commentary

QQQ, SPY, DIA = 6-day Bull Flag price pattern following record highs last week
IWM = close below short term support for third day


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

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

Breadth strengthened slightly as decliners led 2,103 to 907 on the NYSE and led 1,677 to 1,187 on the NASDAQ.

Thursday – strengthened slightly, decliners led, +4 sectors
Wednesday – strengthened slightly, decliners led, +4, 1 sector unchanged
Tuesday – continued weak, decliners led, 1 sector unchanged
Monday – weakened, decliners led, +1
Friday – strengthened, advancers led on the NYSE, +4


SPY +0.13%, QQQ +0.08%, DIA +0.03%, IWM -0.40%,

SPY, QQQ and DIA found support on above average volume on Thursday.


SPY up .30 at 236.86 on 90.6 million shares, 22% above average volume,
VIX up .44 at 12.30
TLT down .94 at 116.84…on 10.5 million shares 19% above average volume

Oil futures were down .58 to close at 49.62 on Thursday


The SPY MFC green line is pointed down at 79.2 short-term defensive, prepare to return to bullish if price closes above Thursday’s high.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down


SPX and NDX Highlights

SPX up 1 point at 2,364.

SPX  gainers SIG, MRO, FTR, NRG, EWM CHK, EQIX, MUR, APA, REGN, NFX, PXD, DNB, SEE, IDXX, CELG, HIG, NBL, MDLZ, BMY, DG, COG, VRTX, BAX, JNJ, INCY, MSI, LLY, LLL, ZBH, ZTS, CTL, COP, XEC, CCL

QQQ closes up .10 at 130.84.
   
NDX point leaders: CELG, CMCSA, FB, GOOGL, AMZN, GOOG, MDLZ, AVGO, INTC, REGN, AMGN and KHC

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

65 NDX stocks are above their 30 DMA, pullback day 6.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
FOXA  

Moving Below 30 DMA = 4
CHKP, EBAY, FAST, STX,


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Strong Stocks: Setups and Moves You Can Use

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

                  (click image to enlarge)

BA, MCD, JPM, AXP, GS, DIS, UTX,
MU, NTAP, MYL, NCLH, PAYX, NTES, INTU, LRCX, CTRP, MAR, BIIB,
WFC, SCHW, FLEX, MS, BAC, MNST, GLW, LOW, ZION, HBAN, LUV, CC, GD, SODA, GM, USB,

One Day Pullback:

Bull Flag Bounces include: SQ, HIG, (2)

Horizontal Breakout Setups include: NRG, KLAC, MMM, SWKS, TXN, DD, AVGO, C, AMZN, YHOO, VIAB, GOOGL, MSFT, WUBA, PYPL, SOXL, MXIM, RCL,
ADBE, DE, BABA, CL, WIX, AA, JD, SHOP, QCOM, SRCL, TSCO, BBY,

                  (click image to enlarge)

Horizontal Breakouts include: PCLN, CELG, INCY,

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

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

Support Bounce: CCL, NVDA, ADSK,

Break of Support: IBM, AMBA, CAT, ULTA, 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
SIG +5.62, +8.73%

Negative earnings reactions
SPLS -0.47, -5.25%

After-hours reports
ULTA -13.72, -5.01%

2016 Q4 EPS (since Feb 15)
EPS Positive Reactions
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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