Range Bound Trading on Thursday ahead of Quarterly Expiration on Friday...ADBE +3.71% in After-hours on EPS...

After the Close Review of Thursday’s market action… DIA, ADBE, MCD, CAT, MMM, IBM, QQQ, DIA, IWM, $VIX, AAPL, ADSK, AMAT, AMZN,, BIDU, CSX, LRCX, MCHP, MSFT, MU, TXN, WDC, WYNN, more great setups …5:28 pm PST

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Stocks traded in a range with lighter volume and lower volatility on Thursday.  Numerous bull flags continued to form on this pull back including AMAT, AAPL, ADSK, AMZN, MU, TXN and MSFT. 

After the close ADBE +3.71% beats on revenues, EPS and raises guidance.

The DJIA, up 115 points to 24,873, led by strength in UNH, MCD, GS, CAT, MMM and IBM. 

Three sectors were higher on Thursday, led by industrials XLI +0.29% and technology XLK +0.06%,.

SPY down .30 at 275.00 on 83.3 million shares, 38% below average volume.  Down on lower volume.

VIX down .64 at 16.59

Oil up .26 to 61.19

TLT unchanged at 120.24 on 6.7 million shares, 38% below average volume.  Unchanged on lower volume.

MCD +2.13%, and UNH +1.82%, led the DJIA, 5 advancers.

DG +4.75%, SCG +2.44%, and IR +2.15%, led the SPX.

NTES +3.63%, ALXN +3.38%, AVGO +2.75%, ULTA +2.05% and JD +1.93% led the NDX.

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

Up: DIA,

Down: QQQ, SPY, IWM,

Breadth strengthened slightly on Thursday, as decliners led 1,807 to 1,053 on the NYSE and led 1,636 to 1,220 on the NASDAQ.

The SPY MFC green line pointed up at 73, bullish. 

Uptrend sectors:  XLK,

Neutral sectors: XLY, XLF, XLV, XLI, XLB, XLE, XLRE,

Down trend sectors: XLP, XLU,

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past month and it is appropriate to wait for the uptrend to resume before considering entry… ADBE, MU, SQ, RNG, IBKR, SHOP, BA, NVDA, RACE, VRSN, ATVI, WB, V, ANET, ISRG, TAL, EA, EBAY, LYV, CAT, MAR, ALGN, CCL, RCL, TRU, WYN, PYPL, A, AABA, BABA, FCAU,  FB, CBOE, TTWO, WYNN, AA, WUBA, EDU, CC,

43 of 100 NDX stocks closed higher on Thursday.

69 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0                            

Moving Below 30 DMA = 2

BMRN, GILD,

The intermediate and long-term trends are still up.  The two-month trend is sideways.  The seven-day trend is sideways.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

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