SPX Rallies Until Rex Tillerson Comments on Syria and SPX Pulls Back, Closes Up 4 Points...STZ Gains 6% on EPS...

Setups to Watch for Friday

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Technical Commentary

The SPX rallied to 2,364 and mid-afternoon when Secretary of State Rex Tillerson made comments that Syria is responsible for chemical attack, the SPX sold off 11 points before closing at 2,357.

The intermediate and long-term trends are still up.

IWM +0.93%, SPY +0.28%, DIA +0.09%, QQQ +0.05%,

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QQQ was barely positive on Thursday due to weakness in AMZN, AAPL, FB, GOOG, INTC, INCY, KHC and SBUX.

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Up Trend: XLY, XLK, XLU, XLV, XLRE,

Sideways: XLB, XLF, XLI, XLP, XLE

Down Trend:

Breadth strengthened as advancers led 2,248 to 718 on the NYSE and led 1,943 to 896 on the NASDAQ.

Thursday – strengthened, advancers led, +8 sectors

Wednesday – weakened, decliners led, +2

Tuesday – strengthened, advancers led on the NYSE, +6

Monday – weakened, decliners led, +2

Friday –weakened, advancers led, +3

SPY up .66 at 235.44 on 69.1 million shares, 16% below average volume,

VIX down .50 at 12.39

TLT down .18 at 121.20…on 6.4 million shares 18% below average volume

Oil futures were up .92 to close at 51.74 on Thursday.

The SPY MFC green line is pointed down at 48, defensive with the SPY remaining above short-term support/resistance zone of 233.91 to 234.72.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

SPX and NDX Highlights

SPX up 4 points at 2,357.

SPX gainers LB, STZ, KSS, GPS, BBBY, UAA, DVN, JWN, CHK, HRB, CAH, APA, URI, KMX, FLS, MAS, FBHS, LNC, COG, HES, CXO, M, MRO, EQT, FTI, WMB, SWN, NBL, TSCO, HBI, KEY, WFM, COH, NFX, RRC

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QQQ closes up .07 at 132.04.

   

NDX percentage gainers: JD, CMCSA, TSCO, COST, ILMN, RAY, WDC, ROST, CHTR, INTU, DLTR, TRIP, MU, TSLA and CSX

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69 of 100 NDX stocks closed higher on Thursday.

53 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6

BIDU, COST, CSX, ENDP, EXPE, XRAY

Moving Below 30 DMA = 2

FAST, VOD

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: CCL, ATVI, VIAB, CC, MAR, NFLX, LVS, TSLA, KLAC, NXPI, MSFT, HUN, PCLN, BABA SPY, XLY, CLX, UNH, MNST,

Bull Flag Bounces include: WDC, RCL, HD, JNJ, CERN, WYNN, MOMO, (7)

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One Day Pullback: AMZN,

MACD Histogram Bullish Divergence: CF, EA, AVGO, MMM, IBM, PANW, AMBA,

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Horizontal Breakout Setups include: WDC, LRCX, ADBE, FB, SWKS, ATVI, QQQ, CBOE, STX, TLT, LNG, MCD, EBAY, AMD, DIA, XLE, HOLX, NRG, CTRP, MU, FLEX, NUE, LUV, CSX, YHOO, AA, GS, DIS, STI, CHK, SWN, UAL, IYR, MSFT, BA, XLU, COST, AAL,

Horizontal Breakouts include:

New Highs include: STZ, ADBE, CC, WIX, AAPL

At Support Setups include: SOXL, PYPL, CTSH, ALK, EXPE, V, DAL, HAS, MAT, NTES, ADI, ROST, NVDA, PAYX,

Support Bounce: ADP, X,

Break of Support:

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