Healthcare Leads SPX as Broad Markets in Bull Flag Price Pattern…Horizontal Breakout Setups Abound…

SPY and DIA in a bull flag pattern

QQQ a horizontal breakout setup

IWM is a second chance bull flag setup.

Four sectors were positive, led by healthcare XLV and materials XLB.

SPY down -.11 at 242.84 on 44.1 million shares, 37% below average

VIX down -.27 to 10.48.

Oil up .25 to 42.78

TLT up .28 at 127.84…on 6.6 million shares, 10% below average.

MRK +0.86% and UNH +0.85% lead the DJIA.

ORCL +8.57% after earnings, SPLS +6.24% and FOSL +5.02% led the SPX.

GILD +4.41%, ILMN +3.16%, SHPG +2.44% and ALXN +2.14% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up: IWM,

Down: QQQ, SPY, DIA

Uptrend sectors:  XLV, XLF, XLI, XLU, XLRE, XLB, XLY, XLP, XLK,

Breadth strengthened as advancers led 1,697 to 1,198 on the NYSE and led 1,616 to 1,154 on the NASDAQ.

The SPY MFC green line is pointed down in upper zone at 87, bullish.

Look for a potential bounce in: SPY, DIA, IWM, XLY, LRCX, DDD, TAL, CC, BBY, KLAC, AMAT, MCHP, HD, MAR,

One Day Pullback: WB

Bounces included: ADSK, CSX, MCD,

Break of short-term support: COST,

Potential Breakouts include: QQQ, TSLA, NFLX, ATVI, MNST, SWKS, AMZN, NVDA, PYPL, BABA, SQ, BBRY, ADBE, EA, HUN, RCL, FB, RACE, WDC, MOMO, SHOP, KWEB, BIDU, AVGO, AAPL, XLNX, GOOGL, V, WMT,

Breakouts: EXPE, WYN, JD, AABA, MCD, AMD,

New Highs: TLT, EXPE, WYN, ANET, AMD

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

57 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

ADI, CTRP, MYL, STX

Moving Below 30 DMA = 0

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

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