Six of nine sectors moved higher on Wednesday… XLY, XLI and XLU were
the strongest sectors …XLB was the
weakest sector….
Breadth strengthened… advancers led decliners…1.31 to 1 on the NYSE and 1.32 to 1 on the NASDAQ…
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners led
Monday – weakened, advancers led
Friday – strengthened, advancers led
Thursday – strengthened, advancers led
SPY up 22 cents at 155.91...volume 92.5 million
shares…
VIX down -0.44 at 11.83
TNX down -0.02 at 20.21…
TNX down -0.02 at 20.21…
TLT down 12 cents at 115.57…
XLF up 5 cents at 18.33 volume 24.2 million shares
XLF up 5 cents at 18.33 volume 24.2 million shares
AAPL down 8 cents at 428.35…volume 14.5 million shares…
FB down 75 cents at`27.08…volume 39.6 million
shares…
Technical Commentary:
The SPY traded in a
tight 89 cent range on Wednesday, formed a doji and closed slightly higher for the day. TNX and TLT bonds were near
unchanged as the Euro fell at support.
Financials rallied.
Stock futures primary trade rolled on Friday from March H to June M: ESH3 to ESM3
IWM +0.37%,
SPY +0.14% and DIA +0.04% moved higher while QQQ
-0.13% moved lower.
AAPL down 8
cents closed near its open
of the day holding at its short-term support. FB down 75 cents made a bear flag entry falling to support below its 30
DMA and is still a setup for a potential C Pattern Entry after a support
bounce.
STX +1.07% and WDC +0.80% gained for the second straight day.
The Euro was down 67 pips and closed at 1.2959 on Wednesday.
Trade what you see on the
chart of your position. The trend is in consolidation and
traders should lock in profits when targets are reached. As always look for
re-entry according to your rules.
The SPY’s
trend continued higher. Seven of nine
sector ETFs including XLP, XLU, XLV, XLY, XLK, XLF, XLI
are now positive XLB and XLE continued neutral.
The Market
Forecast Green Line is in the
upper reversal zone.
____________________
Setups
Breakout: BRCM, CTXS, EXPD, FOSL, LBTYA, MXIM, AVGO, SWKS, WHR, STI, MTW, PMCS, AVX,
SPLK, UNG, MON, CBOE, CLB, SLM, CBS, LNKD, PTEN, IM,
Diagonal Breakout: CMCSA, FAST, KLAC, MNST, PM, JRCC, BTU, A, DECK, SPWR, HLF, GNC, TEX, AOL,
Bull Flag: ALXN, AMGN, CSCO, CTSH, DLTR,
GOOG, INTU, MSFT, PCLN, QCOM,
MBI, AL,
CRM, CIEN, ANGI, JDSU, RF, JPM, FIVE, ILMN, CLR, XRX,
ZNGA, NTES,
Potential Bullish Divergence: EBAY, ROST, IPI, SINA
Gap Up:
Gap Down:
Bear Flag: DKS, KORS, JCP, DDS, HSP,
RHT, FL
Break of Support: RAX, GES,
DDD, AKAM, RCL,
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: DWA, NAV, HRB
Gap Down:
Breakout: MDRX, CRR, VMW,
NFLX, URI, ESRX, WPO, MYGN, TFM, CSTR, IBM, HES, CNW, STX,
SNDK, WDC, PBI, PRGO, VECO, STRZA, DE, CBG, SHLD, CHK, MWV, MOS, TRIP,
Z, TPX, COG
Bounce: BBRY, SSYS, ICE, CREE, ASNA, P, CPRT, AVP, FTNT, ADM, FTI
MACD Divergence Bounce: HRS, CORN, SLB,
Bear Flag: FB, GRMN, ANR, ACI, BTU, WLT,
DNDN, MCP, AGU, INT, CLF, CCL, CTL,
ULTA, EXPD, MGM
Support Break: CLF, MJN, FFIV
____________________
55 of 100 NDX stocks
closed higher and 3 unchanged on Wednesday…
Leading NDX 100 stocks included: SPLS, CHRW,
WFM, FOSL, MU, SRCL, SHLD, MNST, AMAT, MXIM
Lagging NDX stocks included: EBAY, FB, BBBY,
SIRI, GRMN, ROST, GOLD, VOD, TXN, LIFE
Leading stocks> +2% on Wednesday included: BBRY, VMW, NFLX, YELP, CRUS, SSYS, SWKS, UAL, ANF, NKE, CREE, CROX
Lagging stocks < -2.0% included: LDK,
CLF, MCP, ANR, TSL, ESI, HLF, AKS, RVBD, X, CDE
Stocks to Watch on Wednesday…
Holding Above 30 DMA = 73
VMED, ADI, LLTC, DELL, NWSA, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, LINTA, SHLD, COST, WDC, BRCM, DTV, EXPE, LIFE, STX
VMED, ADI, LLTC, DELL, NWSA, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, LINTA, SHLD, COST, WDC, BRCM, DTV, EXPE, LIFE, STX
Moving Above 30 DMA = 3
AMAT, FOSL, SPLS
Moving Below 30 DMA = 2
ALTR,
SIRI
Staying Below 30 DMA
CTRX,
EQIX, FAST, CHKP, MNST, ROST, KLAC, ISRG, EBAY,
FFIV, NTAP, GRMN, WYNN, WFM, EXPD,
NUAN, AKAM, GOLD, CHRW, BIDU, FB, AAPL
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
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