Three of nine sectors
moved higher on Wednesday…XLY, XLK and XLP were the strongest sectors and
XLE was the weakest.
Breadth weakened as decliners led advancers
1.83 to 1 on the NYSE and 1.59 to 1 on the NASDAQ.
Wednesday – weakened, decliners led
Tuesday – strengthened,
advancers led
Monday – strengthened,
advancers led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
SPY down .78 at 204.84 on 134.3 million shares
VIX up 1.00 at 18.33…
TNX up .17 at 17.97…
TLT up .23 at 134.80...
XLF down .06 at 23.71 on 30.4 million shares
AAPL up .91 at 119.56 on 70.1 million shares
FB up .23 at 75.63…on 20.2 million shares
Technical Commentary:
DIA +0.11%,
QQQ -0.09%, IWM -0.37%,
SPY -0.38%.
Before the open the ADP employment
report came in a 213,000 new jobs in December, less than expected.
After the report SP futures fell 7 points and opened below
Tuesday’s close. After the open the SPX
worked its way higher following slightly better than expected PMI Services
Index and ISM Non-Mfg Index reports.
After the SPX reached positive territory shortly before the close,
the ECB announced that Greek debt could no longer be used as collateral,
which sent the SPX down 17 points in 10 minutes to close at 2,041.
After a strong
three day rally, oil reversed sending the energy sector lower for the first
time in four trading day. XLE was
down -1.32, -1.65% as
the weakest sector after being the leading sector for the prior three days. Airline stocks LUV, AAL, DAL, UAL, ALK and
JBLU gained on the weaker oil prices.
DIS +7.18,
+7.63% led both
the DJIA and SPX following a strong earnings reaction. SPX gainers included WHR, KSS, EW,
SJM, GM, CTSH, WDC, HRL and LUV. While
oil stocks weighed on the SPX among the biggest losers were RL, GILD, CMG, CHRW
and WYNN on negative earnings reactions. SPLS, ABBV and FAST also were among
SPX losers.
RUT Movers: SLAB, XPO, MANH, EPAM, ESPR
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 Chart Targets:
SPY = 205.06...
QQQ = 103.17, 104.58 …
IWM = 119.19, 119.45…
Support Levels
SPY = 202.51, 201.62, 200.20...
QQQ = 102.10, 101.65, 100.48…
IWM = 1117.38, 116.57,
115.32...
Earnings this week:
Monday:
Tuesday: ADI, CHRW, FISV, GILD, WYNN
Wednesday: ADP, CTSH, FOXA, GMCR, NXPI, ORLY, SRCL, ATML, UA,
Thursday: ATVI,
CTXS, SIAL, SIRI, SYMC, VOD, EXPE, GPRO, LNKD, TWTR, UBNT, YELP, P, TPX, VRSN,
Friday:
Q4 Earnings Reaction
Positive Reactions – CTSH,
FISV, ADP, AMZN, AAPL, ALXN, BRCM, BX, CAVM, CELG, EA, FB, FSL, GLW, HOG, JNPR,
TSCO, TSS, TUP, VIAB, WDC, X, NFLX, ALK, BHI, CREE, DAL, EBAY, ETFC, GE,
HON, KMB, LUV, MXIM, SBUX, SWKS, TRV, UAL, UNH, UNP, SNX, LLTC, TSM
More than 10% - AMZN, BIIB, NFLX, FSL, EA, TUP, X
Negative Reactions – GILD,
CHRW, WYNN, QCOM, JDSU, RCL, BABA, PCAR, YHOO, MSFT, STX, VRTX, AAL, ZION, AXP,
ALTR, FFIV, IBM, ISRG, JNJ, KLAC, KSU, MCD, STT, XLNX, AA, BAC, C, JPM, KBH,
WFC,
More than -10% - QCOM, FFIV, KBH,
Reversal in progress – BAC, C, IBM, JNJ, JPM,
Reversal of Initial Reaction – WFC
The SPX Market Forecast rising at 42.
___________________
Setups
Horizontal Breakout: SPY,
IWM, AAPL, NFLX, STX, WDC, TRIP, TXN, AA, AIG, BBY, CRM, CTRP, FAS, GOGO, QIHU,
RAX, SCHW, SPLK, SPWR, STI, V, ROST,
Diagonal Breakout: AMBA,
GLD, GDX, JNUG,
Bull Flag: SWKS, TLT, VXX, X, EA,
Potential Bullish
Divergence: MU
Gap Down: FOXA, GMCR
Bear Flag: BABA, EMC,
Moves
New Highs: ETFC,
NTES, SCSS, SOHU, UA, AAPL, COST, WFM,
H Breakout: ETFC,
JCP, JD, YELP, YOKU,
Breakout Test: SLCA,
Bull Flag Bounce:
AVGO, MNST,
Gap Down: SSYS, GILD,
______________________
53 out of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: CTSH, AAL, WDC, CHTR, BRCM, ADSK, CMCSA,
DISCA, MNST, FISV
Lagging NDX stocks included: SPLS, GILD, FAST, VIP, CHRW, WYNN, GMCR, MYL,
REGN, NFLX
Leading stocks > +2% on Wednesday:
DGLY, UAL, JCP, YOKU, SCSS, VXX, MFRM, GOGO, TWTR, DAL
Lagging stocks < -2.0% included:
VSLR, JUNO, X, MBLY, GPRO, TSL, LVS,
CSIQ, UNG, ESI, JASO, FSLR, SUNE, GME, MTW, JNPR, ATI
Stocks to Watch on
Thursday
Holding Above 30 DMA = 46
WFM, SIAL,
KRFT, MNST, CTSH, FISV, SIRI, NXPI, ATVI, BIIB, CERN, VOD, NFLX, EA, ILMN,
SBUX, SBAC, LVNTA, AMZN, DLTR, VRSK, TSCO, AAPL, COST, GOOG, BBBY, CTRX, DISH, EXPD, GRMN, ORLY, TSLA, VIP, ADP,
AVGO, BRCM, CA, CTXS, DTV, INTU, LBTYA, LMCA, NVDA, ROST, SRCL, TXN
Moving Above 30 DMA =
5
ADBE, CHTR, CMCSA, HSIC, PAYX
Moving Below 30 DMA = 6
CELG, CHRW, GILD, LLTC,
SPLS, WYNN
Staying Below 30 DMA
REGN, ALXN, AAL, FB, HSIC, LRCX, VRTX, BIDU, CHKP, MYL, PAYX, SYMC, MAR,
ADBE, CMCSA, COST, CSCO, EBAY, ESRX, MSFT, YHOO, EQIX, AMAT, FAST, INTC, ISRG,
KLAC, MDLZ, GMCR, WDC, QCOM, STX, TRIP, AKAM, PCAR, PCLN, VIAB, ADI, DISCA,
FOXA, CHTR, ADSK, MAT, MU, ALTR, NTAP, SNDK, AMGN, XLNX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
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