Just three of nine
sectors moved higher in front of AAPL earnings after
the close on Wednesday… XLK, XLY and XLI were the strongest
sectors. XLB was the weakest sector.
Breadth weakened as decliners led advancers…1.08 to 1 on the NYSE and
1.00 to
1 on the NASDAQ…
Wednesday – weakened, decliners led
Tuesday – strengthened, advancers led
Monday – MLK Holiday
Friday – weakened,
advancers led
Thursday – strengthened,
advancers led
The SPY inched to another new high close as the
market was mixed before AAPL earnings. After the close NFLX +36.54, +35.39%, FFIV +5.89 and AAPL -50.51, -9.83% reported earnings. NFLX soared,
AAPL was crushed as both traded outside the MMM expected move.
All eyes will watch Thursday morning to see if AAPL is the
catalyst for a potential rollover in the broad market. Be prepared to protect profits.
The chart continues to indicate that the uptrend is more
likely to continue, but may be ready for a bull flag pullback.
SPY up 24 cents at 149.37...volume 111.8104.4
million shares…
VIX up 0.03 at 12.46…
TNX down -0.02 at 18.33…
TNX down -0.02 at 18.33…
TLT down 18 cents at 120.09…
XLF down 1 cent at 17.30…volume 37.4 million shares
XLF down 1 cent at 17.30…volume 37.4 million shares
AAPL up 9.23 at 514.00…volume 30.5 million shares…
FB up 9 cents at`30.82…on volume of 48.8
million shares…EPS Jan 30…bull flag bounce
Look for stocks with
good earnings and guidance to rise and those with either weak earnings or
guidance likely to fall in price. The
earnings pause seems to be vanishing as traders again reacted to strong earnings
today. , MSFT earnings on
Thursday.
Wednesday Price Action to AM EPS – ATI +0.92%, BHI +0.80%, CHKP +1.44%, MCD +0.57%, UTX +0.69%, COH -16.36%
Earnings to Watch this
Week:
Tuesday – AMD, CA, CREE, CSX, DAL, DD, FCX, GOOG, IBM, ISRG, JNJ, PETS,
RF, TXN, TRV, VZ
Wednesday – ATI, ALTR, AMGN, AAPL, BHI, CHKP, COH, FFIV, MCD, NFLX, SNDK,
URI, UTX, WDC
Thursday – MMM, ALK, T,
BMY, CHRW, CELG, CRUS, CY, INFA, ESI, JNPR, KEY, KLAC, MXIM, MSFT, SCSS, LUV,
SWK, SBUX, TPX, UNP, UAL, VRSN,
Friday – HAL, PG, WY
__________________
Technical Commentary:
The SPY made another new high close. QQQ +0.61%, DIA +0.53%, SPY +0.16% and IWM -0.24% as AAPL
shares bounced before reporting earnings after the close. FB inched higher.
The Euro was down 6 pips to close at 1.3315 on Wednesday forming a sideways
consolidation pattern in its strong uptrend.
Trade what you see on the
chart of your position. If it is
breaking out of resistance take the trade or stay with the uptrend according to
your rules.
If the stock begins to rollover
protect your profits.
Disk storage stocks cooled
off in front of earnings as WDC -0.61% reported
after the close and STX -3.35% EPS
Jan 28.
Like many other stocks coal
stocks JRCC, ANR, ACI, CNX and BTU
pulled back slightly on Wednesday.
Chinese solar stocks TSL and LDK settled back in their
bull flag patterns.
The Market
Forecast Green Line is in the upper reversal zone.
____________________
Setups
Breakout: NTES, VIAB,
ROST, NTAP, CERN, MOS, SOHU, QCOM, ZION, MGM, NUAN,
LCC, TRIP, COST, ROST
Diagonal Breakout: BAC, DECK, SBAC, JDSU, CLF
Bull Flag: BRCM, C, GOOG, BIDU, GES, SMH, UAL, SWI, HLF,
YELP, CRM, EXPE, NKE, STRZA, ADSK, ANF, SNDK,
AMZN, EBAY, CTSH, RAX, FAST, TIF, STI, RIMM, STX, CTRP, FOSL, F, JOY, GILD
Gap Up: NFLX, FFIV
Gap Down: AAPL, ALTR, SNDK, WDC, CRUS
Moves
Gap Up: GOOG, ISRG, IBM, CREE, VECO
Gap Down: COH,
Breakout: KBH, SINA, SWK, LEN, LNKD,
FFIV, EQIX, DE, IWM, SPY, FAS, LIFE, A, UNG, PHM, TOL, SHLD, JNPR, EXPD, WAG
Bounce: NFLX, NTES, ADBE, CTXS, VMW, RCL, CRUS,
REGN, TSL, WDC, FSLR,
FB, LVS, X, ATI, ANR, V, AKS,
ADI, GMCR, APOL, PCAR
____________________
44 of 100 NDX stocks
closed higher on Wednesday…
Leading NDX 100 stocks included: ISRG, GOOG,
SYMC, FFIV, STRZA, CA, CTXS, AAPL, MSFT, CHKP
Lagging NDX stocks included: ALXN, STX, FOSL,
SHLD, SPLS, GRMN, GILD, ESRX, VRTX, CSCO
Leading stocks> +2% on Wednesday included: CREE, NFLX, GRPN, SWKS, VECO, IBM, CRUS, SINA, RCL, TSLA, YELP, CRM
Lagging stocks < -2.0% included: COH,
MCP, LDK, SSYS, CLF, RIMM, TSL, HLF, UCO, F
Stocks to Watch on Thursday…
Holding Above 30 DMA = 85
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, ADBE, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU, SRCL, SYMC, VRTX, WYNN, FB, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, BMC, AVGO, ATVI, SHLD, YHOO,MAT, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, PAYX, VOD, DLTR, ISRG
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, ADBE, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU, SRCL, SYMC, VRTX, WYNN, FB, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, BMC, AVGO, ATVI, SHLD, YHOO,MAT, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, PAYX, VOD, DLTR, ISRG
Moving Above 30 DMA = 2
GOOG, ORLY
Moving Below 30 DMA = 1
ALXN
Staying Below 30 DMA
ESRX, PRGO, AKAM, REGN, AMGN, GRMN, NVDA, MNST, AAPL, BIIB, BBBY, GOLD
Nine Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
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