All nine sectors moved higher on Wednesday with XLI, XLB and XLF were the strongest sectors …. XLP was the weakest sector for
the second straight day.
Breadth strengthened as
advancers led decliners…3.26 to 1 on the NYSE and
2.03 to 1 on the NASDAQ…
Wednesday – strengthened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – strengthened, advancers led
Thursday – strengthened, decliners led
SPY up 1.89 at 151.91...volume 150.7 million
shares…
VIX down -2.14 at 14.73
TNX up .24 at 19.03…
TNX up .24 at 19.03…
TLT down 35 cents at 118.29…
XLF up 27 cents at 17.62…volume 62.6 million shares
XLF up 27 cents at 17.62…volume 62.6 million shares
AAPL down -4.40 at 444.57…volume 21 million shares…
FB down 52 cents at`26.87…on volume of 44.3
million shares…
Technical Commentary:
Bull flag bounces occurred
on many charts as stocks rallied for the second straight day recovering Monday’s Italian election
fear driven selloff was reversed with the SPY closing two cents
higher that Friday’s close. Traders that
follow the re-entry tactic were rewarded again.
DIA +1.31% made a new high close on Wednesday leading
ETFs SPY +1.26%, IWM
+1.05% and QQQ +1.02%.
RCL bounced while other at support
stocks APPL, BIDU, AKAM and CRUS lagged the market. FB fell 52 cents formed a black candle while continuing to form a
potential MACD bullish divergence.
The Euro bounced at horizontal support from
November and January and rose 78 pips to close at 1.3138 on Wednesday.
Trade what you see on the
chart of your position. Many stocks gave support bounce
entry signals either Tuesday or today. This is why we guided readers If positions were exited, begin to look for
potential re-entry according to your rules.
The SPY’s
neutral trend on Wednesday as XLY shifted from negative to neutral. XLB continues negative; XLE, XLF,
XLI, XLY and XLK are neutral with XLP, XLU and XLI positive. New
bull flag bounce pattern emerges today.
The Market
Forecast Green Line is pointed up below the upper reversal zone.
____________________
Setups
Breakout: JPM, GRPN, CPA, MDRX, CBOE, MWV, TXN, MCHP, ATVI, TW, CLB, ORLY
Diagonal Breakout: BBRY, PBI, HES, GME, SINA, CTXS,
Bull Flag: NFLX, PM, P, KORS, ADM, BPOP, STRZA, NTES, JDSU, SPWR,
AVP, GES, AIZ,
IM, AVX, GNC, MJN, PRGO
Potential Bullish Divergence: FB, BBRY, EQIX, ACI, ANR
Gap Up: PCLN, DLTR, VRSK, LNKD,
Gap Down:
Bear Flag: LVS, CTL, RAX
Break of Support: AMZN, SWKS, HSP, CNX, OC, NBR, PPO, AVGO, ROST, WDC, JRCC, DNDN,
MGM, A, QCOM, PAY
Moves
Highlights: NFLX, NTES,
TPX, BBRY, FB, P, ANGI,
Gap Up: PCLN, CWH, ZNGA
Gap Down: FSLR, GTI, CRI,
Breakout: TPX, LNKD, AWAY, AMGN, STZ, FIVE, FTNT, HPQ, COG,
Bounce: P, ANGI, SHLD, MDRX, Z,
FAST, CSTR, CRR, MWV, CBG, JPM, CNW, AOL, STI, SWKS, TEX, ZION, PTEN, CBOE, ICE,
CRM, IBM, SLB, CCL, DE, XRX, FTI, VMI, PMCS, IPI, DDS, NDSN, GRMN, LIFE, TSCO,
MACD Divergence Bounce: CTSH, ORCL, VECO,
STX, RCL, WHR
Bear Flag: TFM, ULTA,
AKAM
Support Break: FFIV, WLT,
BTU, CLF, INT
____________________
90 of 100 NDX stocks
closed higher on Wednesday…
Leading NDX 100 stocks included: DLTR, VRSK,
VRTX, SHLD, SYMC, DISCA, EXPD, MU, CHRW, FAST
Lagging NDX stocks included: FB, FFIV, ADSK,
GOLD, AAPL, ALTR, BIDU, EQIX, NUAN, LINTA
Leading stocks> +2% on Wednesday included: TPX, GRPN, LNKD, CSTR, FAS, UAL, SWKS, HLF, F, MOS, GMCR, COH, YELP,
WDC, ATI, GS, GLW, RCL, SSYS, CRM, SWK, SWI, C, VECO, ANF, ANF, SLB, CREE
Lagging stocks < -2.0% included: LDK,
FAZ, TSL
Stocks to Watch on Thursday…
Holding Above 30 DMA = 44
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, SPLS, ATVI, CERN, ISRG, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, SPLS, ATVI, CERN, ISRG, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM
Moving Above 30 DMA = 14
CA, KLAC, LBTYA, MDLZ, MSFT, MYL,
PCAR, PCLN, SHLD, SRCL, VRSK, VRTX, WDC, XLNX
Moving Below 30 DMA = 0
Staying Below 30 DMA
CTXS, LINTA, MXIM, VIAB,
ADSK, CSCO, EBAY, FFIV, NTAP, XRAY, AMZN, AVGO, BBBY, CTSH, EQIX, FOSL, GRMN,
LIFE, ORCL, ROST, SIAL, SIRI, COST, WYNN,
EXPE, SBUX, STX, VOD, WFM, EXPD, DTV, NUAN, AKAM, GOLD, BMC, CHRW, BIDU, ALXN,
FB, INTC, REGN, AAPL
Four Week Intermediate
Term Market Trend: Neutral
Short Term Market Trend: Up
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