Five one out of nine sectors moved higher on Wednesday…
XLY, XLF and XLV were
the strongest sectors…XLU was the weakest sector.
Sector Posture – six sectors are positive
Positive trend: XLB, XLE, XLF, XLK, XLV,
XLY
Neutral trend near
resistance:
Neutral trend near
support: XLI, XLP, XLU
Breadth declined slightly as decliners led advancers 1.57 to 1 on the NYSE and improved as advancers led decliners 1.44 to 1 on the NASDAQ.
Wednesday – mixed, mixed
Tuesday – weakened, mixed
Monday – strengthened,
decliners led
Friday – weakened, decliners
led
Thursday – weakened,
decliners led
SPY up .03 at 196.98 on 104.1 million shares
VIX up .05 at 13.33…
TNX up .92 at 25.54…
TLT down 1.61 at 114.32...
XLF up .10 at 22.88 on 39.8 million shares
AAPL down .23 at 98.15 on 33 million shares
FB up .97 at 74.68…on 36.8 million shares
Technical Commentary:
IWM + 0.40%, QQQ + 0.39%, SPY + 0.02%, DIA
– 0.18%.
Stock
indices opened higher following a GDP report of 4% in Q2, but
then sold off and was range bound until the FOMC announcement at 2 pm
ET. In the end the RUT and NDX
closed higher, the SPX was flat and the DJIA was slightly lower.
Earning
reactions led to the upside as TWTR +19.98%, X +19.37%,
CHRW
+6.40%, AMGN +5.43%, ESRX +4.95% with GRMN -5.51% to
the downside.
Interest
rates rose as financials as C, JPM, WFC, BAC, MS and
STI were moving to the upside.
The Unemployment report for July will be out Friday morning 8:30
am.
Trade with the trend of
the chart you are trading and continue to move your profit protection
stops. Continue to follow
your rules.
Short-term up trend Chart
Targets:
SPY = 198.12, 199.06…
QQQ = 96.31, 97.52, 98.28
IWM = 116.46, 119.09…
Support Levels
SPY = 196. 59, 194.13,
193.11…
QQQ = 93.57, 91.73,
90.44…
IWM = 114.66, 113.16…
Earnings this week:
Monday – CMI, TSN,
WYNN, JEC, HLF
Tuesday – AET, AKS, DLR, GLW, HCA, MDC, UPS, YNDX, AMGN, AXP, BWLD, CHRW, ESRX, FISV, MAR, MRK, PFE, SLCA, TWTR, X, VRTX
Wednesday – GRMN, HES, AEM, AKAM, CTRP, EQIX, KRFT, LRCX, MTW, WDC,
WFM, YELP
Thursday – DDD,
BZH, CL, COP, DTV, XOM, ESI, RYL, TEVA, TWC, EXPE, LNG, LNKD, MA, MCHP,
SPWR, TSLA, TRLA
Friday – CBOE,
CVX, HLT, PG, BRK.A
Q2 Earnings Reactions
Positive Reactions – AKS,
AMGN, CHRW, ESRX, HCA, HES TSN, TWTR, WYNN, X, YNDX, CMG, BIIB, ISRG, SWI,
UA, VRSN, AAPL, APD, CA, CHKP, CMCSA, CTXS, DAL, DECK, DOW, FFIV, FB, FTI, GD,
LXK, LMT, NBR, NDAQ, NOK, OSTK, ORLY, PETS, RHI, STLD, SWK, TSCO, TXN, WHR,
XRX, ZION, BX, C, GOOGL, GS, HON, INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA,
STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,
Negative Reactions – AET,
BWLD, CMI, GLW, GRMN, HLF, JEC, SLCA, UPS, VRTX, ALK, ALXN, AMZN, ANGI,
ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC, FCX, GM, HOG, ILMN, JNPR, KLAC, KMB,
KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX, STI, STO, T, TPX, TRIP, TRV, UTX, V,
XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT, SLB, SNDK, STX, USB, YHOO, FAST,
FDO, CAMP, BBBY, GIS, CCL, WAG,
Reversal in progress – GIS,
WAG,
Reversal of Initial
Reaction – BBBY, YHOO, APOL, KBH, MON,
TThe SPY Market Forecast green line is pointed down at 78.
____________________
Setups
Horizontal Breakout: GOGO,
JD, MS, NKE, PANW, SSYS, SINA, WLT, AKAM, CELG, EXPE, INTC, STX, TSLA, WDC,
WFM, WYNN, YHOO
Diagonal Breakout: IWM,
SOHU, SPWR, STI, TSL, BAC, UBNT,
Bull Flag:
SPY, BBY, BX, DAL, FAS, GME, IBM, QIHU, RCL, SFUN, SWI, VRSN, Z, AAPL, BIDU, CTSH,
FB, GOOG, MAR, MSFT, ADP,
Potential Bullish
Divergence: MNST,
Gap Up:
Gap Down:
Bear Flag:
At Support: AAL, JASO,
ILMN,
C- Pattern:
Moves
New Highs:
H Breakout: ETFC, SCHW,
SCTY, CRM, SPLK, VJET,
Diagonal Breakout: DDD,
JCP, PCLN,
Bull Flag Bounce:
Gap Up: TWTR, YELP, ESRX,
GILD,
Gap Down:
Breakout Test:
Bounce: BBRY, C, MTW,
TPX, QCOM,
MACD Divergence Bounce:
CIEN, CREE, GTAT, HOG, XONE, NFLX,
Bear Flag:
Support Break: AIG,
ATI,
C- Pattern:
______________________
70 of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: CHRW, REGN, AMGN, ESRX, WFM, AKAM, NXPI, YHOO,
NFLX, SPLS, SBAC
Lagging NDX stocks included: GRMN, VRTX, MDLZ, VRSK, CTSH
Leading stocks > +2% on Wednesday
included: TWTR, GPRO,
KNDI, ETFC, GOGO, UAL, MS, BBRY, SCHW, XONE, YELP, VJET, SPLK, GTAT, LNKD,
YNDX, CRM, PANW DDD, ANGI, CIEN
Lagging stocks < -2.0% included:
SFUN, ATI, ANR
Stocks to Watch on Thursday
Holding Above 30 DMA= 54
CHRW,
SIAL, CHTR, ADP, EQIX, ATVI, CSCO, INTU, MSFT, BIDU, CMCSA, GOOG, SBUX, INTC,
STX, WDC, LMCA, PAYX, SYMC, DTV, VRTX, FISV, GILD, SBAC, NTAP, EBAY, COST,
DISCA, CTRX, FB, BBBY, CERN, AAPL, CELG, CTSH, EXPE, MAR, REGN, ALXN, AMGN,
CTXS, FFIV, PCLN, VOD, WYNN, BIIB, CHKP, ISRG, CA, TSCO, YHOO, BRCM, SPLS, SRCL
Moving Above 30 DMA = 7
AKAM,
DLTR, ESRX, ORLY, SIRI, TSLA, WFM
Moving Below 30 DMA = 3
ADBE,
MDLZ, VRSK
Staying Below 30 DMA
EXPD PCAR, MU, MYL, ADSK, AMZN,
HSIC, KLAC, LINTA, AVGO, DISH, ILMN, QCOM, TRIP, ALTR, GMCR, KRFT, LLTC, NXPI,
TXN, VIAB, XLNX, AMAT, NFLX, LBTYA, NVDA, VIP, SNDK, FOXA, MAT, MNST, ADI,
ROST, GRMN, FAST, MXIM
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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