Five of nine
sectors
moved higher on Wednesday…XLF, XLY and XLB were the strongest sectors…while
XLE was the weakest sector.
Breadth weakened
as decliners
led advancers 1.05 to
1 on the NYSE and 1.05 to
1 on the NASDAQ.
Wednesday – weakened, decliners led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – weakened, mixed
Thursday – strengthened,
advancers led
SPY up .17 at 187.75 on 88.2 million shares, below average volume
VIX down .21 at 13.89…
TNX up .07 at 26.98…
TLT up .23 at 107.62...
XLF up .23 at 22.20 on 47.6 million shares
AAPL up 1.12 at 532.36 on 7.1 million shares, below
average volume
FB up 2.77 at 71.57…on 74.5 million shares, above average volume
Technical
Commentary:
QQQ +
0.28%, SPY + 0.09%, IWM – 0.06%, DIA – 0.17%.
SPY
new all-time high…
NDX
and QQQ new bull market high…
After
a wide range high day on Tuesday indexes trade in a
narrow range pause day above Tuesday’s S1…Chart Signal’s Tuesday post read “Be aware that breakout days often retrace the
breakout and strong wide range days are followed by a pullback the S1 level of
the large white breakout candle.”
Financial
sector XLF bull market new high close leading all sectors for
the second straight day…
XLB,
XLF, XLI, XLK, XLV and XLY, six of nine sectors at new highs
above short-term resistance…
And
it’s not just the indexes:
GOGO
+12.21% breaks out and closes just
above second horizontal resistance breakout after double bottom
reversal, EPS on Mar 13 BMO…
FB +4.13% makes new all-time high close at
horizontal resistance breakout setup…
BAC
+3.17% surges to a horizontal
resistance breakout setup…
GME
+3.75% at horizontal
resistance breakout setup following inverse head & shoulders breakout…
Look at the Chart
Signals lists below for more great setups…
Trade with the trend of the chart
you are trading and continue
to move your protective stops. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 189.25, 190.55…
QQQ = 90.96, 92.25, 93.05…
IWM = 120.64, 121.84…
Support Levels
SPY = 187.15, 183.75, 182.60
QQQ = 88.87, 87.35, 86.49
IWM = 118.71, 115.58
Q4 earnings season…
The majority of earnings
season is done, however there are still a few companies including CIEN, COST, JOY, QIHU, BIG, and FL that
will report over the next few days…AZO neutral reaction
Q4 Earnings Reactions
Positive Reactions – DRYS,
TSL, DDD, MNST, ROST, YOKU, CRM, SHLD, ANF, TGT, DLTR, LOW, HD, M, SCTY, ZU,
PCLN, DISH, INTU, AEE, MDRX, ALEX, DTV, TSLA, GRMN, SWY, KRFT, AMAT,
CTRP, NVDA, SPWR, TRIP, REGN, CBOE, MCO, ATVI, AKAM, EXPE, GMCR, NXPI,
ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC, KORS, KEYW, IDXX, XYL, YUM,
NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, UA,
VIAB, V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, CAT,
RCL, JNPR, MSFT, KMB, PG, MXIM, SBUX, NFLX, FFIV, URI, UNP, EBAY, MCD,
CREE, TXN, UTX, NUAN, XLNX, BHI, DAL, RF, MS, SLB, STI, AXP, SWKS, BAC, LLTC,
WEN, MON, MU, STZ, APOL
Negative Reactions – CSIQ,
HOV, MCP, SSYS, ADSK, CRM, FSLR, SINA, ESRX, GRPN, YNDX, KO, A, GNC, WTW, VFC,
WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI, LNKD, TPX, VRSN, ADP, CTSH, HUM,
MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, DDD, SFLY, GILD, CVX, MA, MAT, PCAR,
AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA, CTXS, EMC, TSCO,
CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, HON, KSU, SWK, STT, ALTR, ISRG,
KLAC, KEY, JCI, LMT, WDC, ABT, BAX, ATI, COH, FCX, AMD, IBM, HAL, JNJ, TRV, VZ,
GE, COF, INTC, UNH, C, GS, CSX, FAST, AA, FDO, BBBY, SCHN (102)
Reversal in progress – FSLR,
RAX, ADSK, WFM, CSX, GS, COF, JNJ, IBM, ATI, JCI, KEY, STX, CRUS (14, 14%)
Reversal of Initial
Reaction – UNH, WDC, DISCA, XOM, CTXS, DDD, SFLY, TPX, VZ, ABT, BAX, AAPL, CL, VRSN,
CSCO, ADP, CTSH, HUM, P, TSO, ADM, CERN, GILD, PCAR, MMM, CELG, HOG, POT, SHW,
EMC, GLW, DD, VMW, YHOO, ZION, HON, SWK, ALTR, ISRG, KLAC, LMT, HAL, FAST, FDO,
AA (45, 45%)
The Market Forecast Green Line closed at 92.
____________________
Setups
H Breakout: C, CIEN, FAS, FSLR, GME, GOGO, RAX, SCSS,
SFUN, STI, UAL, YOKU, ZION, ESRX, FB, GOOG, QCOM,
Diagonal Breakout: ANGI, NTES, AAPL, BIDU, CELG, WFM,
Bull Flag: SCTY,
One Day:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: JNPR, NTAP,
C- Pattern:
Moves
New Highs: AAL, BX, GLW, SPY, CTSH, FB, TRIP, XLNX,
Gap Up: BAC,
Gap Down:
H Breakout: BAC, DRYS, GOGO, AMZN,
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce:
Bounce:
MACD Divergence Bounce:
Bear Flag:
Support Break: DDD,
______________________
41 out of 100 NDX
stocks closed higher on Wednesday.
Leading NDX 100 stocks included: FB, FAST, CTXS,
AMZN, ESRX, GMCR, AMAT, ATVI, DISH, FFIV
Lagging NDX stocks included: MYL, VRSK, AKAM,
EXPE, WFM, FISV, ALXN, MNST, BIIB, STX
Leading stocks > +2% on Wednesday
included: GOGO, SFUN, DRYS, YOKU, UAL, ATI, GME, BAC, MS, CIEN, LNKD,
NTES, BX
Lagging stocks < -2.0% included: CSIQ, DDD, SSYS, KKD, ESI, MTW, SCTY,
BBRY, MCP
Stocks to Watch on Thursday
Holding Above 30 DMA= 84
ILMN,
EQIX, FFIV, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, ALXN, REGN, GOGO,
WYNN, FB, GMCR, ADBE, ORLY, DISH, EBAY, AKAM, AVGO, DTV, PCAR, AMGN, ATVI,
CERN, EXPE, GILD, MNST, MSFT, MYL, NVDA, PCLN, SNKD, TRIP, XLNX, ADI, MAR,AMAT,
CHKP, KLAC, TXN, CTSH, GRMN, HSIC, LINTA, LLTC, VIAB, KRFT, BIDU, MDLZ, LMCA,
FOXA, FISV, LBTYA, DISCA, CTX, FAST, INTU, VOD, WDC, WFM, BBBY, CA, DLTR, ROST,
SIAL, ADP, COST, TSCO, SPLS, CELG, YHOO, SBAC, AAPL, ADSK, BRCM, ESRX, PAYX,
QCOM, STX, VRTX
Moving Above 30 DMA = 2
AMZN, SRCL
Moving Below 30 DMA = 2
INTC, SIRI
Staying Below 30 DMA
CTRX, VRSK, CMCSA, CSCO, SBUX, NTAP, CHTR, CHRW, SYMC, EXPD, VIP, MAT
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
