SPY closing the gap and closing right below 10SMA. Market Forecast pointing higher, still defensive. Bearish case alive.

VIX:   16.91 -13.24%                                    

/CL :  52.92 1.17%                                    

TLT :  140.33 +0.21%                                    

                                     

SPY Market Forecast   29.5   Short-term Defensive  as pointing up and in the neutral zone                           

  6-months Up                                   

  10-days Down                                   

  3-days Up                                   

                                     

Indices                                      

Up       QQQ :     188.26 +2.18%      IWM:     152.54 +2.16%      SPY:     293.62 +1.96%      DIA:     264.13 +1.49%                         

Down                                      

                                     

Nasdaq Above 30MA  24                                   

AMD, SYMC, MELI, BKNG, WDC, VRTX, EBAY, ADP, EA, INTU, ROST, TXN, MDLZ, LULU, ULTA, MSFT, GOOG, GOOGL, LRCX, ATVI, HAS, REGN, AMAT, WLTW, KLAC, CTAS, ASML, JBHT, TTWO, VRSK, CELG, XEL, SBUX, SIRI, AMGN, FISV, BIIB, COST, NXPI

                                     

                                     

Stocks to watch on  Friday                                   

Nasdaq100  xsing above30      17                                  

AMD, SYMC, MELI, BKNG, VRTX, EBAY, ADP, EA, INTU, MDLZ, LULU, ULTA, MSFT, REGN, AMAT, WLTW, ASML                      

                                     

Nasdaq100  xsing below30 2                                  

FOX, FOXA                                     

                                     

NDX Leaders                                     

AMD +16.20% SYMC +12.30% MELI +12.15%                                

DJIA Leaders                                     

DOW +4.23% CVX +3.47% MSFT +2.67%                                 

SPX Leaders                                     

BKNG +6.56% AIG +4.43% CVX +3.47% COP +3.28%                               

                                     

Sectors   All 11 sectors closed higher led by      XLE         59.76   +2.87%     and  XLK      79.39 +2.45%                     Lower:  3                         

  XLRE / XLP / XLU closing above 30d. SMA      - 8 Sectors below.                              

Uptrend XLK, XLY, XLRE, XLP                                 

Neutral  XLU, XLB, XLV, XLF, XLI, XLC                               

Downtrend XLE                                    

                                     

Breath:         Weakened as decliners led    NYSE:     2428       512    and  decliners led   Nasdaq:     2241    847                          

                                     

MACD Crossover: MELI, NTES, NFLX, ADP, MDLZ, ATVI, REGN, VRSK, XEL, PEP