Seven out of nine sectors moved higher on Wednesday…XLU,
XLP and XLK were the strongest
sectors…XLY was the weakest
sector.
Breadth strengthened… as advancers
led decliners…1.13 to
1 on the NYSE and 1.08 to
1 on the NASDAQ where decliners led advancers.
Wednesday - mixed
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
Friday – strengthened,
decliners led
Thursday –weakened,
decliners led
SPY up .90 at 177.17…volume 87.2 million shares
VIX down .60 at 12.67…
TNX down .22 at 26.40…
TLT up .05 at 105.07...
XLF up .10 at 20.61 volume 28.6 million shares
AAPL down 1.48 at 524.15…volume7.9 million shares
FB down .98 at 49.12…volume 67.8 million shares…
Technical
Commentary:
IWM – 0.43%, QQQ – 0.02%, SPY + 0.51%, DIA + 0.85%.
DIA makes new all time high while SPY
matches all time high…QQQ closes .06 below all-time high as IWM shows
weakness closes lower.
TSLA drops 14.51% or 25.65 following
disappointing earnings…issuing a weak outlook for the quarter.
MSFT gapped up making a 12 year high
today closing up 1.54 or up 4.20% to close at 38.18.
Continue
to trade with trend of the individual stock that you are trading and be
vigilant in protecting profits from the last three weeks. Chart Signals has been alerting
readers to, “Move profit
protection stops according to your rules,” since Monday.
Chart Targets:
QQQ = 83.17…
IWM = 110.96, 112.83…
SPY = 177.85, 180.99…
Remember it is big money
that creates and sustains the trend. As Granville once
wrote, “technical analysis is the art of tracking the market, following
the footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are
reading the market correctly, seeing through the maze, unconfused by this hall
of mirrors.”
Short-term SPY posture is
neutral.
Support Levels
ES = 1,741, 1,726
SPY = 174.44, 172.76
QQQ = 81.87, 80.76,
79.76
IWM = 107.83
Q3 Earnings Reactions
Positive Reactions –
FSLR, TRMB, MDVN, NATI, SPR, ONNN, EXPE, CRR, HAR, GTI, ATML, THOR, TRN,
FLT, MCHP, ITT, DICSA, ANR, SWKS, FB, CMCSA, GILD, DWA, LVLT, EA, SEE,
SPW, TFX, X, XRAY, XYL, JLL, PBI, ALR, HUN, ACT, DECK, AMZN,
MSFT, FLS, AVY, ALXN, WOOF, COG, BA, CLGX, ESI, EQIX, WLL, TSCO, RRD,
PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS, GNTX, LXK,
DD, VFC, CMG, GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE, BTU,
AXP, KEY, STLD, URI, USB, INTC, JNJ, SCHW, COST, AA
Negative Reactions –
IPGP, AIG, BRKR, HME, NEM, XLS, NIHD, AVP, WTW, ROVI, JDSU, OSK, CNW,
ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO, WU, LNKD, IACI, MSM, INGR, HTS,
VRTX, AAPL, PMCS, MWV, AGNC, AGCO, PCL, GT, CMI, VSH, ALSN, ROP, EW,
MRK, RYN, RMD, NCR, KBR, FSL,
ESRX, EMN, FIO, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT,
NFLX, COH, ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH,
EBAY, IBM, XLNX, SCSS, SWK, MU, FAST
Chart Signals Strategy
Guidelines
When the market is trending
up Chart Signals looks for support
bounce and resistance breakout entries.
When the market is trending
down Chart signals looks for resistance
pull back and support break entries.
When the market is sideways
in consolidation Chart
Signals will look for support
bounce, diagonal breakouts and pull backs at resistance
where price action stays between support and resistance.
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.
The Market Forecast Green Line is above
80.
____________________
Setups
H Breakout: ADSK, AMAT, CSCO, EBAY, ESRX,
INTC, MNST, MYL, QCOM, WFM, ATI, CRM, DNKN, MFRM, P, RCL, SPY, SWKS, TPX,
Diagonal Breakout: IBM,
LVS,
Bull Flag: ADBE, AMGN,
BIDU, GILD, GOOG, MAT, CLF, RAX, UAL,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: CELG, NTES, PWRD,
YOKU,
Moves
New Highs: CTSH,
Gap Up: MSFT,
Gap Down: TSLA,
H Breakout: COST, ZION,
D Breakout: ESRX, FFIV,
Breakout Test:
Bounce: EBAY,
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
49 out of 100 NDX
stocks closed higher on Wednesday and four were unchanged.
Leading NDX 100 stocks included: LBYTA, EBAY, MSFT,
CTXS, COST, ESRX, SYMC, FFIV, CHKP, EQIX, CTSH, WFM
Lagging NDX stocks included: TSLA, VRSK, VIP,
REGN, VRTX, CELG, FOSL, GMCR, SHLD, GILD, ALXN, BIIB, PCLN, BIDU
Leading stocks > +2% on Wednesday
included: SWK, YNDX
Lagging stocks < -2.0% included: JCP, YELP, QIHU, SCTY, WLT, Z, SPWR,
SSYS, UAL, ANGI, GRPN, TSL, XONE, YOKU, MCP, CNX
Stocks to Watch on Thursday
Holding Above 30 DMA= 63
WYNN,
AVGO, CTSH, VOD, ROST, ADBE, SNDK, WFM, SBUX, STX, AMAT, CERN, CMCSA, MSFT,
XRAY, AAPL, HSIC, SPLS, FISV, FOSL, GILD, INTC, INTU, KLAC, LINTA, PAYX, PCLN,
SBAC, WDC, FOXA, CHKP, DTV, VIP, MNST, GOOG, ADP, AMZN, MAT, MDLZ, DISCA, KRFT, CA, SIAL, ALXN,
COST, QCOM, LLTC, TXN, ADI, MCHP, MU, EXPE, NFLX, ADSK, CHRW, GOLD, GRMN, MYL,
PCAR, CSCO, ESRX, VIAB, CTRX
Moving Above 30 DMA = 3
BRCM, DLTR, LBTYA
Moving Below 30 DMA = 8
AMGN, BBBY, BIIB, SHLD, REGN, VRSK,
LMCA, TSLA
Staying Below 30 DMA
EXPD,
FAST, ISRG, CHTR, BIDU, SRCL, YHOO, LBTYA, CELG, VRTX, ATVI, FB, MXIM,
EQIX, AKAM, ORLY, SIRI, FFIV, NVDA,
SYMC, ALTR, XLNX, EBAY, NTAP, CTXS, NUAN, GMCR
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Neutral
No comments:
Post a Comment