SPY, Euro Hold Gains as YELP, LNKD and FB Move Higher...

Three of nine sectors moved higher on Wednesday…XLB, XLY and XLV were the strongest sectors. 

Breadth weakened on Wednesday as decliners led advancers led 1.10 to 1 on the NYSE and 1.29 to 1 on the NASDAQ… 

Exchange      NYSE    NASDAQ

Advancers     1,403       1,078

Decliners       1,546       1,393

Wednesday Highlights:

SPY lost 12 cents…closing at 140.91…volume was 100.6 million shares, up more than 50% from last Wednesday at 65.4 million shares…

VIX down -0.24 at 17.74…

Euro up 34 pips at 1.2599…

TNX +0.13 at 15.94…confirms falling dollar

TLT down 60 cents at 126.72…

XLF unchanged at 15.16…for the third straight day

Gold down 3.00 at 1695.60…

Oil +0.39 at 96.02…

AAPL down 4.74 at 670.23…volume 12 million shares …

FB up 85 cents at 18.58… volume 60.7 million shares…bounced up from low

The Market Forecast green line crossed below the 80 line out of the upper zone.

YTD At a Glance

                        September   YTD

SPY                -0.09%           +13.35%

AAPL              -0.70%           +66.20%

EXPE             +0.21%           +80.84%

STX                +0.40%          +102.05%

EBAY              -0.41%           +55.49% 


Technical Commentary: The SPY moved down 12 cents on 100.6 million shares.  The Unemployment and Jobs Report will be out this Friday morning. 

The current diagonal channel on the SPY is a trend continuation pattern.  Chart Signals expects the current uptrend to continue.  Stay prepared for the smaller probability of a break of support.

The Euro continues to pause at resistance in its sideways consolidation on Wednesday.  XLF formed a doji closing at 15.16 for the third straight day.

Chart Targets: 

SPY = 143.10 S&R Measuring

ES = 1,425.75 S&R Measuring

Short-term support at

140.22, 139.80 = SPY

1,403, 1,395, 1,387 = ES

2,750, 2,743, 2,700 = NQ

SETUPS…

At Support: SOHU, ZION, BRCM, CHL

Flag:  WDC, SWKS, ICE, LVS, NKE, KORS, MCP, MAKO, GLW, TLT

Channel at Support: SOHU, SNDK, XLNX, CREE, EBAY, JNPR, SHLD, JDSU, QCOM, NFLX, GRMN, IBM, SLB, TSL, RVBD, VECO, V, FFIV, NVDA, AKS, EA, DHR, SDRL, SMH, CELG, INTC, MSFT

Hammer Candle: MCP, GMCR,

Bounce: VHC, MOS, CLF, CRUS, ORCL, RCL, VMW, ANR, NAV

Tuesday: SINA, HLF, RVBD, SWI, STI, AAPL, CROX

Friday: FCX, UCO, CRM, DE

Continuation: YELP, ESI, AH, INFA, F, SREV, GME, CDE, APOL, GLD, ESRX, FAS, AMGN, VRSN,

Support Break: DECK, NTES 

Leading NDX 100 stocks included: ADBE, APOL, SPLS, CHKP, MU, ORCL, MRVL, YHOO, ATVI, DTV 

Lagging NDX stocks included: MNST, FAST, BIDU, AVGO, SHLD, RIMM, KLAC, DLTR, NFLX, ROST 

Leading stocks > +2% on Wednesday included: ZAGG, LDK, LNKD, UAL, ESI, FB, MOS, GS, CLF, CRUS, RCL 

Lagging stocks < -2.0% included: DECK, NTES, SWKS, AKS, CREE 

Stocks to Watch on Thursday… 
Holding Above 30 DMA = 35 
UCO, TPX, GS, RVBD, SWI, CROX, CRUS, SWKS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF, BAC, CDE, CRM, SINA, SOHU, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, COH, GLW, CSTR, TLT, V 

Moving Above 30 DMA = 2 
MOS, UAL 

Moving Below 30 DMA = 3 
DECK, V, WDC 

Staying Below 30 DMA 
DHR, SMH, TBT, CIEN, JNPR, SLB, VECO, AKS, IBM, SWK, ATI, TSL, TSLA, X, ANR, GES, VMW, DE, HLF, A, CHL, NTES, GRPN, CLF, DLR, ZAGG, FAZ, CMG, ESI, FB, LDK, MCP 

Thirteen Week Intermediate Term Market Trend: Up 
Short Term Market Trend: Neutral