The
SPY which spent the morning testing the support low made on Friday reached a
low of 129.99 before buyers stepped in around 12:30 pm EDT and made a strong recovery
to close up 7 cents. The Euro fell and
TNX interest rates slipped -0.72. Financial
stocks and bonds rose. The SPX
closed at 1,318.86 above its 1,300 support area.
Six of nine sectors moved higher on Wednesday. XLB, XLI, and XLY were the strongest sectors.
Breadth
strengthened as advancers led decliners
1.54 to 1 on the NYSE and 1.17 to 1 on the NASDAQ.
Exchange
NYSE NASDAQ
Advancers 1,826 1,358
Decliners 1,182
1,156
SPY moved
up 7 cents on
204.7 million shares…and was down 76
cents in after-hours trading…
AAPL
traded between
a low of 553.23 and a high of 572.80, closing up +13.59 at 570.56 on 20.9 million shares...
DELL -2.59, -17.18% following earnings and weak guidance Tuesday after
the close…
FB +1.00
at 32.00 on 73.7 million shares had its first higher close.....
GRPN +8
cents, +0.67% in bull flag
following reversal pattern…
C Pattern Continuation: ZAGG, SHLD, SIAL,
WFM, ALXN
C Pattern Entry: SWKS, CRM, AVGO, SRCL
C Pattern Setup: DHR, V, A, GOOG, AAPL, INTU,
DLTR, CTXS, CMCSA
Bounce: CRUS, SWI,
MNST, BMC, ORLY,
VRSN, WCRS, BBBY, CERN, CTXS, ROST
Daily/Weekly Bull Flags: GRPN, VECO, BIIB, NWSA
MACD Histogram Bullish Divergence: RVBD, CIEN, MCP, CROX, SOHU, VMW, TPX, JDSU, MOS,
INFA, F, BIDU, NFLX, QCOM, NNVDA, SBUX, SHLD, VMED, PNRA, MSF, MRVL, MCHP, INFY,
GOLD, FISV, EXPD, CTRP, CHKP, CELG, ADBE, AKAM, ALTR
Technical Commentary:
The
SPY moved lower and reversed higher after the Euro sold off and penetrated its
1.2622 support. The SPY stayed above Friday’s
support low of 129.55 and closed above the S1 level of Monday’s
large white candle.
Wednesday Highlights:
SPY
closes up 7 cents
The
Euro fell 94 pips, closed 1.2585
TNX
-0.72
VIX
moved lower -0.15, below 25 at 22.338
XLF
closed up 5 cents
65 of 100 NDX stocks closed higher on Wednesday…
Leading NDX 100
stocks included AVGO, EXPE, NFLX, FSLR, SBUX, EA, ATVI, GOLD, BIDU, NVDA
Lagging NDX stocks included
DELL, VMED, INTC, STX, MSFT, ALXN, NWSA, MYL, TEVA, NTAP
Leading stocks > +2% on Wednesday included PCX, GES, ZAGG, SWI, ANR, LDK, CSTR, TSL,
SINA, CLF, FB, CRUS, ATI, CDE, SWK, BAC, MCP, SOHU, CMG, MOS, SWKS, LNKD, UAL,
F
Losing stocks < -2.0% included JNPR, CREE, GLW, UCO, TPX
Stocks to Watch on Thursday
Holding
Above 30 DMA = 8
TLT,
CRUS, SWI, VECO, FAZ, NTES, GRPN, ZAGG
Moving Above 30 DMA = 3
CRM,
LDK, SWKS
Moving Below 30 DMA = 0
Staying
Below 30 DMA
LNKD,
UAL, CHL, URE, CREE, TSL, STI, WDC, DLR, NKE, ANF, ATI, CSTR, DE, GLW, IBM,
SLB, VMW, CMG, DHR, ESI, FAS, FCX, SMH, TIF, UCO, V, AKS, ANR, JNPR, X, HLF,
SOHU, DECK, HUM, CROX, LVS, CIEN, PCX, RCL, RVBD, CLF, MCP, SWK, TPX, ZION,
INFA, BAC, A, TBT, F, JDSU, C, GS, TSLA, COH, MOS, ICE, SINA, GES, CDE
Eight
Week Intermediate Term Market Trend:
Down
Short Term Market Trend: Neutral
1 comment:
Can someone describe what Dave calls a "C" pattern? Thank you.
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