Wednesday, December 12, 2012

Euro, Interest Rates Pop, XLF Higher, SPY Cools After FOMC...


Four of nine sectors moved higher on WednesdayXLF, XLE, and XLI were the strongest sectors.  FB was added to the NDX before the open on today replacing INFY.

Breadth
weakened on Wednesday as decliners led advancers …1.09 to 1 on the NYSE and 1.52 to 1 on the NASDAQ…

SPY up 7 cents at 143.51...volume 145.8 million shares…
VIX +0.38 at 15.95
TNX up 0.48 at 16.97…
TLT down -1.44 at 122.59…
XLF
up 7 cents at 16.14…volume 55.7 million shares

AAPL down -2.38 at 539.00…volume 17.4 million shares …
FB down 40 cents at`27.58…on volume of 46.7 million shares…

­­­__________________

Technical Commentary:
The SPY formed a gap up black candle selling off after breaking the FOMC announcement.  The SPY stayed above horizontal support.  The VIX closed higher and did not confirm the SPY move up today.

The ES closed down 4.75 at 1,426.75…NQ futures closed down 16.25 at 2,670.50 as AAPL pulled back again.

Coal stocks ANR, ACI JRCC, BTU and CNX continued their recent upward thrust on Wednesday.

The weight of the evidence continues to suggest the three+ week up trend is likely to continue even though a flag pull back to a higher low is possible following a five day rally.

The Euro closed up 67 pips at 1.3072 on Wednesday staying above its 30 DMA.

TNX, interest rates jumped and TLT, bonds dropped -1.44.  XLF moved up 7 cents to 16.14.


SPY – gap up black candle, breakout target 145.47
AAPL black candle, above support, below 30 DMA
FB – black candle, bull flag, BO target 29.63
FAS – gap up potential tombstone doji
AMZN – white spinning top, bull flag
EXPE – white candle, bull flag bounce continuation
STX – gap down spinning top, bull flag
VIAB – dark cloud cover, BO continuation
RIMM – large white candle, BO continuation
CRUS – spinning top, MACD histogram bullish divergence
F – spinning top, bull flag bounce pause
PHM – large white candle, breakout symmetrical triangle, close above 30 DMA
SWK – potential shooting star at resistance, bull flag at T1
SWI – black spinning top, bull flag bounce
RAX – doji, bull flag bounce continuation
URI – gap black candle, BO set up
YELP – doji, bull flag bounce continuation, above 30 DMA
XHB – white candle, DBO setup, at 30 DMA
XRT – black candle at 30 DMA

BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT = intermediate term, ST = short term


The Market Forecast Green Line is pointed up in upper reversal zone.

____________________

Chart Targets:
SPY = 145.47 S&R measurement
ES =
1,440, 1,451.25…short-term resistance
EUR/USD = 1.3126 short-term resistance

Short-term support at
1.2878 = Euro
140.69 = SPY
83.20 = SPXL
1,419, 1,396 = ES
2,626 = NQ


Moves:
Bounce:  CRM, AKAM, INFA, PCAR, SWK, PAY, ANR, ACI, JRCC, BTU, CNX, CMG, ADBE, WYNN, BIDU, MNST, GMCR, RIMM, SBUX
____________________

36 of 100 NDX stocks closed higher on Wednesday…


Leading NDX 100 stocks included: RIMM, NFLX, MNST, WYNN, APOL, GMCR, PCAR, BIDU, SIRI, DLTR

Lagging NDX stocks included:  STX, SHLD, CTXS, GRMN, MRVL, SYMC, NTAP, BMC, EXPD, FB

Leading stocks > +2% on Wednesday included:  LDK, TSL, SINA, GRPN, SOHU, ANR, TBT, CSTR, DHR, ESI, A

Lagging stocks < -2.0% included: MCP, VMW, ANF

Stocks to Watch on Thursday…
Holding Above 30 DMA = 84
YHOO, MYL, ORLY, CERN, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, FB,  NTAP, CSCO, EXPE, GMCR, VMED, ATVI, EA, EXPD, LLTC, MXIM, PCAR, TXN,  XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, AVGO, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, SRCL, COST, MNST,
ADBE, CMCSA, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, BMC, CHKP, DTV, FAST, MCHP, SNDK, VOD, CTXS, ALXN, CHRW, LRCX, MDLZ, NVDA, BBBY, ESRX, EXPE, INTC, ISRG, SPLS


Moving Above 30 DMA = 1
SIRI

Moving Below 30 DMA = 1
WFM

Staying Below 30 DMA
PCLN, DLTR, AAPL, WCRX, LINTA, SHLD, GOLD, MSFT, BIDU, PRGO, VRSN, VRTX, CA, ROST


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

2 comments:

Equity Tips said...

I like the useful info you provide in your posts. I will book mark your weblog and check again here frequently. I am quite sure I will learn a lot of new stuff right here! Best of luck for the next!

Commodity Tips said...

I like the useful info you provide in your posts. I will book mark your weblog and check again here frequently. I am quite sure I will learn a lot of new stuff right here! Best of luck for the next!