All nine sectors moved higher on Wednesday…XLK, XLV and XLF were the strongest sectors …XLE was the weakest
sector….
Breadth strengthened…advancers
led decliners…3.11
to 1 on the NYSE 3.74 to 1 on the NASDAQ…
Wednesday – strengthened, advancers led
Tuesday – weakened, mixed
Monday – strengthened, advancers led
Friday – weakened, decliners led
Thursday – strengthened – advancers led
Wednesday – weakened – decliners led
SPY up 1.92 at 158.67...volume 135.7 million shares…
VIX down .48 at 12.36…
TNX up .58 at 18.05…
TNX up .58 at 18.05…
TLT down 1.67 at 119.91…
XLF up .24 at 18.50 volume 67 million shares
XLF up .24 at 18.50 volume 67 million shares
AAPL up 8.71 at 435.69…volume 13.4 million shares…
FB up 98 cents at`27.57… volume 45.9 million
shares…
Technical Commentary:
QQQ +1.94%, IWM +1.81%, SPY +1.22%, DIA +0.87%. All moved higher with QQQ, SPY, and DIA
breaking through recent horizontal resistance. SPY closed above its 158.12
price target from its January 10 breakout. IWM closed near horizontal
resistance. Chart
Signals is short term up on the SPY with Wednesday’s breakout.
Stock rose for the third straight
day with SPY reaching another high.
AAPL up 8.71 on 13.4million
shares bounced above its potential double bottom support area. FB was up 98 cents on 45.9 million
shares. FB gave a bull flag entry and a
C pattern entry as its closed above it 30 DMA.
FAST closed down
– 1.76 after reporting earnings before the open. BBBY gapped up 1.17 in after hours trading after reporting
earnings this afternoon.
Reporting this
week: JPM
Trade what you see on the
chart of your position. The trend is up
and traders should lock in profits when targets are
reached. As always look for re-entry according to your rules.
The Market
Forecast Green Line is in the
upper zone.
____________________
Setups
Breakout: MAT, MU,
NUAN, NVDA, PAYX, ROST, SHLD, TXN, CSTR, FCX, GMCR, GRPN, RCL, TIF,
Diagonal Breakout: CTSH,
KLAC, MXIM, PCAR, SIAL, WFM, XLNX, ATI, DHR, F, GS, LNKD, SMH, SWKS, YELP
Bull Flag:
Potential Bullish
Divergence:
Gap Down:
Bear Flag: CHKP, ESRX, EXPD, FOSL,
GOLD, LINTA, MYL, CDE, CLF, CRM, NFLX, UAL, X
Break of Support:
Moves
Highlights:
Gap Up: ORCL, CIEN,
JDSU, TBT,
Gap Down:
Breakout: ADBE, AMAT, AMGN, AMZN, ATVI, BIDU, CA, CELG, CSCO,
CTRX, DISCA, EBAY, EQIX, INTC, MCHP, PCLN, QCOM, SRCL, STX, VRSK, VRTX, WYNN, COH,
Bounce:
MACD Divergence
Bounce:
Bear Flag:
Support Break:
____________________
86 of 100 NDX stocks
closed higher on Wednesday…and one was unchanged…
Leading NDX 100 stocks included: BIDU, MU,
REGN, SHLD, VRTX, MNST, AKAM, AMAT, AMGN, EQIX, FB, CELF, SNDK, WFM, PCLN, WDC
Lagging NDX stocks included: FAST, GOLD, NTAP
MYL, COST
Leading stocks> +2% on Wednesday included: SSYS, CIEN, JDSU, ESI, JNPR, YELP, DECK, CSTR, FAS, SWKS, TSLA, GMCR,
CRUS, CMG, WDC, LNKD, GRPN, GES, TBT, C
Lagging stocks < -2.0% included: LDK,
FAZ, TSL, MCP
Stocks to Watch on Thursday…
Holding Above 30 DMA = 58
VMED,
NWSA, SNDK, STRZA, ADP, DELL, SYMC, GILD, HSIC, CERN, BIIB, MAT, PAYX, PRGO,
YHOO, DLTR, AMGN, MU, DISCA, SBAC, ADBE, CELG, FISV, MSFT, SRCL, VRTX, MDLZ,
LBTYZ, VIAB, REGN, SBUX, BMC, VOD, ALXN, BBBY, SHLD, DTV, LIFE, STX, COST,
CMCSA, NUAN, ROST, ATVI, CHRW, WDC, EBAY, MNST, SPLS, WYNN, TXN, VRSK, INTC,
MXIM, NVDA, CTRX
Moving Above 30 DMA =22
ADSK, AKAM, AMAT, AMXN ,AVGO, BIDU, BRCM,
CSCO, EXPE, GRMN, KLAC, MCHP, ORLY, PCAR, PCLN, QCOM, SIRI, SYMC, WFM, XLNX,
XRAY, FB, EQIX,
Moving Below 30 DMA =3
FAST, GOLD, NTAP
Staying Below 30 DMA
DLTR,
ESRX, GOOG, INTU, ALTR, CA, LLTC, SIAL, ADI, AAPL, LINTA, MYL, ORCL, CTSH,
CTXS, FOSL, CHKP, ISRG, FFIV, EXPD
Twenty Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
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