Eight sectors moved higher on Wednesday…one moved lower…XLF, XPY and XLY were the strongest sectors and XLE was the weakest sector.
Breadth strengthened as advancers led decliners 1.62 to 1 on the NYSE and 1.14 to 1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – mixed, decliners led
Thursday – strengthened, decliners led
SPY up 1.65 at 207.50 on 135.8 million shares
VIX down 2.14 at 16.09…
TNX up .83 at 24.18…
TLT down 1.84 at 115.62…
XLF up .37 at 24.75 on 42.5 million shares
IWM +0.30%, QQQ +0.79%, SPY +0.80%, DIA +0.90%.
Trade with the trend of the chart you are trading and continue to move your profit protection stops. Continue to follow your rules.
Short-term Chart Targets:
SPY = 206.72, 208.02, 209.16...
QQQ = 108.01, 108.86…
IWM = 126.60, 127.50…
SPY = 205.76, 204.22...
QQQ = 106.55, 105.75…
IWM = 123.94, 122.52...
The SPX Market Forecast is pointed down at 26.
Horizontal Breakout: MBLY, ILMN, TSLA,
Diagonal Breakout: CTRP, FEYE, JD, SFUN, TASR, DAVE, SCSS, AKAM, PCLN,
Bull Flag: ADBE,
Potential Bullish Divergence:
At Support: GLNG, OCN, SONC, SSYS,
New Highs: TPX, CMCSA,
H Breakout: CMGE,
D Breakout: W,
Bull Flag Bounce: AIG, CCL, GME, JCP, NCLH, NKE, UBNT, DTV, EA, FB,
MACD Divergence Bounce: BX, HPQ, SUM, V, COST,
Bounce: SPY, QQQ, BAC, C, CIEN, CRM, ETFC, FAS, HABT, IBM, JNPR, SCHW, SEDG, STI, SVXY, UA, BBY, ESI, SWI, VRSN, EBAY, MYL, ROST, WBA,
Gap Up: MS, TPX, LVS, VRSN, CELG, WYNN,
Support Break: DAL, ANGI, ZU, AAL,
Watch List Stocks
Leading stocks > +2% on Wednesday: SVXY, FAS, CIEN, TBT, GME, TPX, MBLY, JCP, JUNO
Lagging stocks < -2.0% included: SHOP, VXX, SLCA, CSIA, VSLR, YY, SINA, KNDI, YOKU, JD, SOHU, TWTR, CTRP, SCTY
79 of 100 NDX stocks closed higher on Tuesday.
Leading NDX 100 stocks included: WYNN, KRFT, CMCSA, MYL, MAT, EA, ORLY, VRTX, ATVI, CELG
Lagging NDX stocks included: SNDK, AAL, GMCR, CTXS, GILD, INTC, REGN, LVNTA, NXPI, MU
NDX Stocks to Watch on Thursday
Moving Above 30 DMA = 8
HSIC, MAT, ROST, VRTX, WYNN, KRFT, CHTR TSCO
Moving Below 30 DMA = 0
6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Neutral