With poor earnings from $V $SBUX $GOOGL/$GOOG and $MSFT, the market had every reason to let the bottom fall out and collapse on Friday. Though we started lower, we ended the day slightly in the positive for the S&P 500. The Q's took it early but finished moderately lower. The A/D line continues to broaden and the market continues to catch a bid. Unlike the last couple of years, the broader market participation has been stellar and it seems every couple of weeks there is a rotation into a new group. The main focal point on Friday was the IWM which ended firmly in the green. Until this musical chairs of money rotation ends, there is no reason to believe that the bears have any semblance of control. There are two levels of support currently where dip buyers step in. Near the 9 and the 20MA's. It's important that the momentum continues and the market continues to churn higher as we've broken our downtrends (for now).

RAILS

Entire sector is seeing strength and is reversing its downtrend.

CP

Flagging at its downtrend line and at resistance.

UNP

Broke monthly downtrend and breaking into resistance.

KSU

TSLA

TSLA Flagging into support. 20D better hold. 

FEYE

Flagging and ready to break out.

BIOS

All bio ETF's are ready to rip and some have started to move. 

LABU IBB XBI JUNO CELG AMGN GILD

WLL

Basing for a breakout.

QCOM

"Poor" earnings results but found support and bounced.