Eight of nine sectors moved higher on Wednesday…XLB, XLF, and XLK were
the strongest sectors…XLU was the
weakest sector.
Breadth weakened…advancers
led decliners 1.92 to 1 on
the NYSE and 1.26
to 1 on the NASDAQ…
Wednesday
– weakened, advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
advancers led
Friday – weakened
slightly, advancers led
Thursday – strengthened,
advancers led
SPY
up .74 at 163.34…volume 97.3 million shares
VIX
down .17 at 12.66…
TNX
down .23 at 17.60…
TLT
up .19 at 120.35...
XLF
up .16 at 19.30…volume 63.3 million shares
AAPL
up 5.18 at 463.84…volume 16.8 million shares
FB
up .23 at 27.12…volume 34.6 million shares
Technical Commentary:
QQQ +0.48%, SPY +0.46%, DIA +0.45% and
+0.29% each made a new high close on Wednesday.
The Euro bounced 83 pips to close at 1.3160. The dollar fell and gold rose. Bonds moved slightly higher as interest
rates paused after rising for three straight days. XLF made a new bull market high.
AAPL gained +5.18 after a
one-day pause and made its highest close since Feb 15. AAPL which made a horizontal reversal
breakout on April 30 is setup for another horizontal resistance breakout above
470.
FB up 23 cents formed a
white spinning top in its four-day bull flag pullback. It is now setup for a potential bull flag
bounce entry.
Trade what you see on the chart of your position. The intermediate term trend is up with a horizontal resistance breakout setup. Traders should lock in profits when targets
are reached. As always look
for re-entry according to your rules.
Chart Signals Strategy Guidelines
Technical setups for
short-term option trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles, strangles, OTM calls
or puts.
After earnings look for
bullish setups in positive reaction stocks and bearish setups in negative
reaction stocks.
EPS Reaction Summary
EPS Gainers – TSLA, GRPN, EA, DVA, WFM, CTSH, DTV, LBTYA, AIG, ADP, CBOE, REGN, FB, BZH, EXPD, GM, MDC,
STX, V, YELP, ICE, JRCC, VIAB, CMCSA, DDD, AVP, HLF, CERN,
CVX, DHI, TWC, ANGI, AKAM, ALXN, ALTR, BIIB, COG, CLF, CROX, DOW, ESI,
FFIV, HOG, LRCX, LVS, MO, PHM, RCL, SIAL, XLNX, BA, BRCM, GLW, HES, DAL,
COH, DD, NFLX, ILMN, VECO, LCC, RF, ZION, TRV, LMT, CAT, CHKP, HAL, HAS,
CMG, GOOG, KMB, STI, MSFT, BTU, PEP, UNP, VZ, MAT, AXP, JNJ, INTC, KO, C
EPS Losers – Z, LNKD, TPX,
ZAGG, CTRX, GRMN, MRK, SWI, AMZN, BIDU, CRUS, DECK, EXPE,
HSY, KLAC, MXIM, QCOM, PTEN, ABC, MMM, AMGN, T, JNPR, PNRA, VMW,
GE, IBM, ISRG, MCD, MS, PM, UNH, SNDK, EBAY, BAC, USB, GS, LLTC
Key Earnings this week:
Monday – DDS, FSLR, LBTYA
Tuesday – DIS, DTV, MDLZ, SYMC, Z
Wednesday – ATVI, CTSH, EA, GRPN,
RAX, TSLA
Thursday – PCLN, NVDA, XRAY, DISH
The Market Forecast Green Line is
pointed up in the Upper Zone.
____________________
Setups
H Breakout: GRMN, GMCR, MU, XLNX, NVDA, PCLN, AAPL, CRM,
JCP, ZION
Diagonal Breakout: CSCO, MU, ATI, TPX, UNG, AMGN,
Bull Flag: ADBE,
AMAT, GILD, FB, MSFT, ORCL, ANGI, CMG, FSLR, LVS, NFLX, P, SSYS, YELP, Z
Potential Bullish Divergence:
Gap Up: TSLA, GRPN
Gap Down: RAX
Bear Flag: SWI
At Support: AMGN
Moves
New Highs: SPY, QQQ,
IWM, FAS, ALK, C, CREE, NTES, RCL, STI, ATVI, CMCSA, GOOG, MAT, MAT, SBUX, STX,
WDC, WYNN, YHOO
Gap Up: WFM, EA, GOLD
Gap Down: SYMC
H&D Breakout: BIDU, NTAP
Bounce: CTSH, EBAY, DDD,
GRPN, WLT, DVA, CLF, ANR, CNX, JCP
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
67 of 100 NDX stocks closed higher
on Wednesday…three were unchanged
Leading NDX 100 stocks included:
WFM, CTSH, LINTA, BIDU, GOLD, EQIX, AVGO, MU, FFIV, ATVI, GOOG, EBAY,
XRAY, NVDA, PRGO
Lagging NDX stocks included:
CHRW, SYMC, CA, MDLZ, GILD, VRTX, MYL, ORLY, DISCA, BBBY, NWSA, MSFT,
MBIIB, CERN, NUAN, ADBE
Leading stocks > +2% on Wednesday included: CLF, SOHU, ANR, X, ESI, ATI, AKS, CDE,
GRPN, CRUS, MOS, CROX, JNPR, FCX, SINA, C, HUM, DECK, UCO, FAS, TPX
Lagging stocks < -2.0% included: TSL, YELP LDK, FAZ
Stocks to Watch on Wednesday
Holding Above 30 DMA= 79
STRZA, ADP, GILD, BIIB, MAT, PAYX,
YHOO, SBAC, ADBE, MSFT, SRCL, MDLZ, REGN, VOD, BBBY, LIFE, ROST, MNST, WYNN,
DLTR, INTC, DTV, NWSA, SBUX, VRTX, WFM, ATVI, COST, WDC, AKAM, AMAT, GOOG,
NVDA, SIAL, SIRI, STX, TXN, BMC, BRCM, CA, SYMC, ALXN, ESRX, ORLY, PCAR, XLNX,
CERN, CMCSA, FB, AAPL, FOSL, KLAC, LINTA, MCHP, XRAY, VRSK, CHKP, ORCL, SHLD,
VIAB, EQIX, VMED, LBTYA, CELG, EXPD, GRMN, LLTC, MYL, PCLN, ADI, ADSK, MU,
NTAP, SPLS, ALTR, BIDU, HSIC, FISV, SNDK
Moving Above 30 DMA = 5
AVGO, EBAY, FFIV, GOLD, MXIM
Moving Below 30 DMA = 1
CHRW
Staying Below 30 DMA
ISRG, PRGO, DISCA, AMGN, CSCO, CTRX,
FAST, NUAN, AMZN EXPE, QCOM, CTSH, DELL INTU, CTXS
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
1 comment:
Great summary, very useful in practice for 4DL. Thanks Dave!
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