The SPX closed at 1,259.78, up +1.27 or +0.10% another new high close. On Wednesday each of the broad indexes again traded in a very narrow range on light volume continuing the trading pattern since last Thursday.
(click image to enlarge)
SPX new high close, potential shooting star
INDU new high close, potential shooting star
COMPQ doji at resistance
RUT potential bearish harami at resistance
Breadth strengthened on Wednesday as advancers led decliners 1.73 to 1 on the NYSE and 1.20 to 1 on the NASDAQ…
Exchange NYSE NASDAQ
Advancers 1,928 1,454
Decliners 1,110 1,202
(click image to enlarge)
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
Leading stocks on Wednesday included WLT, POT, MOS, IPI, AGU, RVBD, CAM, CF, ATW, NTRI, HAS, RMBS, SLB, GMCR, TLT, ACN, SPG, LDK, SWN, ESI, CHL, UAL, SKX, FCX, MCD, URE, NDAQ, PNC, DLR, AIV, GAZ, JEC, CMG, A, BYI, GES, MA, NTES, X, FWLT, DISH, CAKE, GR, LVS, USD
Leading stocks on Wednesday included WLT, POT, MOS, IPI, AGU, RVBD, CAM, CF, ATW, NTRI, HAS, RMBS, SLB, GMCR, TLT, ACN, SPG, LDK, SWN, ESI, CHL, UAL, SKX, FCX, MCD, URE, NDAQ, PNC, DLR, AIV, GAZ, JEC, CMG, A, BYI, GES, MA, NTES, X, FWLT, DISH, CAKE, GR, LVS, USD
Losing stocks included TBT, CSTR, AKS, DECK, VECO, STI, GS, ARUN, ICE, SOHU, ZION
Interest rates fell on Wednesday and bonds rose. The Euro closed up 110 pips at 1.3225 at 5 pm ET.
The SOX rose +0.54, closing at 411.20 on Wednesday. The VIX fell -0.24 and closed at 17.28.
Seven of nine sectors moved higher on Wednesday with Energy XLE +0.99% and Materials XLB +0.42% leading all sectors.
Moves on Wednesday
Continuation – SPG, BYI, URE, CF, GME, FAS, FLS, FCX, ZION, STI, WFC, BAC, XLF, SWK, NUE, STLD, A, DHR
Resistance Breakout – WLT, AGU, MOS
Bull Flag Bounce – WLT, AMZN, IPI, ACN, JEC
MACD Divergence Bounce –
Support Bounce – V, MA, RMBS
Bear Flag Break – TLT, TSL, JASO
Break of Support – CMG, HAS
Check out our Bull Flag Setups and Horizontal Breakout Setups...
Setup Charts to Watch
Bull Flag Setups – X, SNDK, LVS, NTRI, ATW, ILMN, NTAP, DECK, UNP, AKS, CAT, DE, GOOG, GR, FFIV, HSY, SINA, CLF, ATI, NDAQ, F, WFMI, GES, WYNN, AMD, CREE, NETL, USD, CRUS
Horizontal Breakout – PNC, AZO, IPI, UNG, VMW, NYX, WHR, GS, ICE, AIV, C, SLB, DOW
MACD Divergence – NFLX, CSTR, AKAM, BIDU, LDK
Bear Flag Setups – SKX
Horizontal Support Breakout – TBT, CAKE, LDKContinue to trade with the trend of the chart you are trading.
SPX
Resistance: 1,256, 1,281
Support: 1, 241, 1,220, 1,209
Enter bullish trades with a bounce off support and a break above the high of the low day or a break out of horizontal resistance. Thursday was an entry signal for many stocks.
Enter bearish trades on a break of short term support or a bounce down from the 30 DMA.
The short term 3 day trend is neutral.
The six-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch. Trade with the trend of the chart and follow your rules.
The six-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch. Trade with the trend of the chart and follow your rules.
AAPL -0.18 – bearish engulfing above recent resistance
AMZN +2.28 – outside day, bull flag bounce
NFLX -3.40 – large black candle and MACD bullish divergence
QCOM +0.13 – doji above recent resistance
GOOG +2.08 – hammer inside day in bull flag
BIDU +0.40 – spinning top at support and MACD bullish divergence
NDX 100 stocks stronger than the NDX include SHLD, APOL, ERTS, VMED, SRCL, FLEX, CTSH, AMZN, YHOO, INFY, CHRW, WYNN, ILMN, DLTR and SPLS.
Stocks weaker than the NDX: NFLX, CEPH, STX, WCRX, VOD, SNDK, MRVL, CMCSA, MICC, CSCO, ISRG, KLAC, BMC, DELL and MYL.
Stocks to Watch on Thursday
Holding Above 30 DMA
SINA, CAM, WLT, ATW, SLB, NDAQ, USD, DECK, GR, RVBD, BYI, CAT, X, CREE, GES, CLF, INFA, VMW, SNDK, CRUS, FCX, FDX, AKS, A, AMD, DHR, DOW, FLS, GME, ICE, PNC, TBT, UCO, DE, FAS, JEC, STI, SWK, WHR, ZION, ACN, BAC, NYX, ESI, IPI, HSY, NTRI, ATI, CF, PCP, HANS, AIV, GS, URE, AGU, MOS, POT, UNP, BA, SPG
Moving Above 30 DMA = 2
RMBS, SWN
Moving Below 30 DMA = 0
Staying Below 30 DMA
HAS, HLF, TSL, CRM, MHS, NETL, CAKE, TIE, MA, SKX, V, CSTR, UNG, VECO, ARUN, CMG, SOHU, GMCR, MCD, AMX, LVS, UAL, FAZ, TLT, NTES, LDK, CHL, LXK, DLR
HAS, HLF, TSL, CRM, MHS, NETL, CAKE, TIE, MA, SKX, V, CSTR, UNG, VECO, ARUN, CMG, SOHU, GMCR, MCD, AMX, LVS, UAL, FAZ, TLT, NTES, LDK, CHL, LXK, DLR
Short Term Market Trend: Up
1 comment:
Thanks Dave have a great day Thursday
Post a Comment