All nine sectors moved higher again on Wednesday…XLI, XLB and XLY were
the strongest sectors…XLV was the
weakest sector.
Breadth strengthened as advancers led decliners 3.91 to 1 on the NYSE and 2.48 to
1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened,
mixed
Monday – strengthened,
advancers led
Friday – strengthened,
decliners led
Thursday – weakened,
decliners led
SPY up 1.93 at 186.12 on 109 million shares
VIX down 1.43 at 14.18…
TNX up .09 at 26.37…
TLT up .14 at 111.27...
XLF up .17 at 21.82 on
39.6 million shares
AAPL up 1.05 at 519.01 on 7.5 million shares
FB up .63 at 59.72…on 78.5
million shares
Technical
Commentary:
QQQ +
1.33%, IWM + 1.09%, SPY + 1.05%, DIA + 1.02%.
The buys were definitely back in
town on Wednesday following strong earnings reaction from YHOO +2.14, +6.26% following earnings after the close on Tuesday. INTC was also up after earnings.
The NDX +45.24
was led by
25.6 NDX points from GOOG, MSFT, AMZN, PCLN, YHOO, CCSA, GILD, BIIB,
SBUX, FB, REGN and QCOM.
Airline stocks took off with gains
from DAL +5.36%, AAL +5.31%, UAL +4.67%, LUV +2.79% and ALK +2.75% as
oil prices have leveled off near recent high over the past six trading days.
The SPX
was led by YHOO, DAL, VLO, IR, REGN and IPG while losers included LLTC,
AET, CLF, RIG, BBY and NTAP.
LLTC -2.06,
-4.37% was the
weakest stock in the SPX on a gap down following earnings after the
close on Tuesday.
BAC -0.26,
-1.59% gave the
money center banks a split card, joining JPM with a negative reaction
while C and WFC had positive earning reactions.
GOOG -17.54,
-3.15% had been
down more than -$35 in after-hours before recovering on a negative
earnings after the close. GOOG rose
20.10 during trading day and did finish
slightly positive even after the selloff.
IBM -8.20,
-4.18% after
hours following a negative earnings reaction.
SNDK +4.40,
+5.80% and URI
+2.71, +2.96% moved higher after the
close on positive earning reactions.
Earnings
continue on Thursday with a number of big names including BHI, DD, GE, GS,
MAT, MS, BTU, SLB, BX, UNP and UNH, four of which are Dow components.
Remember
April options expiration is Thursday (tomorrow) due to the Good Friday holiday
leading into Easter weekend.
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 = 187.17, 189.70…
QQQ = 86.90, 87.88…
IWM = 113.84, 115.25…
Support Levels
SPY = 183.37, 181.38
QQQ = 85.09, 84.16,
83.15, 82.03
IWM = 110.12, 108.91,
106.99
Earnings This Week:
Monday: C
Tuesday: KO, IBKR, INTC, JNJ, LLTC, SCHW, YHOO
Wednesday: AXP, BAC, GOOG, IBM, KSU, SNDK, STLD, URI
Thursday: BHI, DD, GE, GS, MAT,
MS, BTU, SCSS, SLB, BX, UNP, UNH
Q1 Earnings Reactions
Positive Reactions – YHOO, IBKR, INTC, JNJ, KO, SCHW, C, GME, WFC,
Negative Reactions – BAC,
LLTC, BBRY, FAST, JPM, MU
Reversal in progress –
Reversal of Initial
Reaction –
The SPY Market Forecast
(formed a cluster on Friday) green line is pointed up at 23.
____________________
Setups
H Breakout: C, CREE, ETFC, KKD, PANW, TPX, BX, NTES,
SOHU, WLT, BIDU, COST, CTSH, ESRX, FFIV, MSFT, MU, STX,
Diagonal Breakout: FAS, GLW, GME, IWM, NKE, STI, SWKS, Z,
CRM, LNKD, QIHU, SPLK, SSYS, SWI, YOKU, ADSK, AKAM, AMZN, EBAY, SNDK, TRIP,
Bull Flag:
One Day:
Potential Bullish
Divergence: WYNN,
Gap Up:
Gap Down:
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs: ATI,
Gap Up: HOG, V, YHOO,
Gap Down:
H Breakout: MFRM, MTW, SCHW, QCOM,
Diagonal Breakout: MS, SPY, UAL, UBNT, VRSN, ADBE,
Breakout Test:
Bull Flag Bounce:
Bounce: AAL, MFRM, CIEN, CSIQ, DDD, ESI, GOGO,
LVS, RAX, SCTY, YNDX, MNST,
MACD Divergence Bounce: P, SFUN, TSL, XONE, YELP, PCLN, SBUX,
Bear Flag:
Support Break:
______________________
84 of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: YHOO, REGN, VIP,
ILMN, GOOG, PCLN, EQIX, SBUX, TSLA, SIRI, ALXN
Lagging NDX stocks included: LLTC, NTAP, ADI,
MAT, SPLS, MXIM
Leading stocks > +2% on Wednesday
included: AAL, UAL, Z, MFRM, SCHW, FAS, ETFC, PANW, CTRP
Lagging stocks < -2.0% included:
Stocks to Watch on Thursday
Holding Above 30 DMA= 15
MAR, GRMN,
KRFT, FAST, INTC, QCOM, STX, WDC, CSCO, CHRW, SPLS, NVDA, SYMC, LINTA, MSFT
Moving Above 30 DMA = 5
COST, EXPD, SIAL, YHOO, MDLZ
Moving Below 30 DMA = 1
ADI
Staying Below 30 DMA
ISRG, AMAT, BRCM, CHKP, DTV, KLAC, LLTC, MAT, MXIM, NTAP, PCAR,
SNDK,XLNX, TXN, FOXA,NXPI, AMGN, AVGO, BBBY, ROST, DISH, AAPL, ALTR, ATVI,
CMCSA, CTSH, FISV, HSIC, PAX, VIAB, DISCA, ADP, EXPE, MU, SBUX, CHTR, TSCO,
CTXS, INTU, FFIV, TSLA, AKAM, AMZN, EBAY, ESRX, MYL, WFM, LMCA, TRIP, ADBE,
BIIB, DLTR, GMCR, ALXN,CERN,FB, REGN, PCLN, WYNN, LBTYA, SBAC, ILMN, BIDU, MNST,
ORLY, SRCL, EQIX, NFLX, CA, VRSK, ADSK, VOD, CEELG, GILD, VRTX, SIRI, CTRX, VIP,
GOOG
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
