Wednesday, April 29, 2015

FOMC Eyes Possible Rate Hike...Stocks Close Lower...GPRO Glows With 12.63% Gain...After Earnings WYNN Take A Hit Losing 16.64%...X Earnings Also Disappoint And Finishes Down 11.61%...SSYS Has A Nose Bleed & Finishes The Day Off 22.16%...BIDU Trading Down In After Hours Trading After Posting Earnings...

Only one out of nine sectors moved higher on Wednesday…XLE, XLF and XLB were the strongest sectors and XLV was the weakest.
 
Breadth weakened as decliners led advancers 1.98 to 1 on the NYSE and 2.14 to 1 on the NASDAQ.

Wednesday – weakened, decliners led
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – mixed, mixed
Thursday – strengthened, advancers led
                                                                                                                                        

SPY down .87 at 210.57 on125.6 million shares, above average volume
VIX up .98 at 13.39…
TNX up .62 at 20.35…
TLT down 1.56 at 125.73…
XLF down .01 at 24.32 on 40.5 million shares

AAPL down 1.92 at 128.64 on 63.2 million shares
FB down .22 at 80.47…on 26.4 million shares


Technical Commentary:
IWM -1.09%, QQQ -0.63%, DIA -0.43%, SPY -0.41%.



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 = 210.33, 210.70, 211.40...
QQQ = 108.38, 109.17
IWM = 125.55, 127.13…

Support Levels
SPY = 207.01, 205.39...
QQQ = 105.55, 104.50…
IWM = 123.77, 122.90...


Earnings Week of April 6 – AA, BBBY, WBA, STZ
Earnings Week of April 13 – JNJ, JPM, FAST, WFC, INTC, BAC, CSX, DAL, LLTC, SNDK, NFLX, GS, C, AMD, AXP, CE, MAT, NOW
Earnings Week of April 20 – CHKP, HAL, HAS, MS, RCL, STI, IBM, LRCX, ZION, ARMH, ATI, BHI, DD, HOG, LMT, PCAR, TRV, UA, VZ, AMGN, BRCM, CMG, CREE, ILMN, ISRG, URI, UTX, YHOO, YUM, ABT, BA, EMC, KO, MCD, CTXS, EBAY, FB, FFIV, ORLY, QCOM, T, TSCO, TXN, XLNX, ABBV, ALXN, BAX, CAM, CAT, DHR, DOW, DPS, FCX, HP, HSY, LLY, LUV, MMM, MO, NDAQ, PEP, PG, SWK, UNP, ALTR, AMZN, ETFC, GOOGL, HBI, JNPR, KLAC, MSFT, SBUX, SRCL, SWN, AAL, BIIB, STT
Earnings Week of April 27AAPL, CHRW, AET, COH, F, GLW, PFE, UPS, VLO, AKAM, ESRX, VRSK, WDC, WHR, WYNN, GRMN, MDLZ, BIDU, MAR, NXPI, TRIP, VRTX, CAH, LLL, XOM, ADP, CELG, VIAB, AIG, CME, EXPE, FSLR, SWKS, V, GILD, MYL, CVX, MCO, WY




Q1 Earnings Reaction
Positive Reactions – AMZN, MSFT, JNPR, SBUX, GOOGL, AAL, CTXS, CAM, EBAY, FFIV, ORLY, SWK, T, ALTR, BAX, BRCM, DOW, EMC, HP, ILMN, KO, MCD, NDAQ, YUM, ABT, ATI, LRCX, PCAR, ARMH, AMGN, HAS, CHKP, HAL, MS, STI, NFLX, CE, MAT, C, DAL, FAST, INTC, JPM, LLTC, STZ, WBA, KMX, DGLY, CTRP, JUNO, KBH, MFRM, NKE,

More than 10% - AMZN, MSFT, ATI, HAS, NFLX, CE, DGLY, CTRP, JUNO, 

Negative Reactions – HBI, BIIB, STT, TXN, XLNX, MMM, SRCL, SWN, ALXN, CMG, CREE, DHR, FB, FCX, HSY, ISRG, KLAC, PEP, PG, BA, HOG, TRV, UA, UNP, URI, YHOO, DD, BHI, RCL, AXP, BAC, GS, JNJ, SNDK, AA, BBBY, MU, GME, YOKU, XONE, 

More than -10% - NOW, AMD, YOKU, 

Reversal in progress – AA, GS,

Reversal of Initial Reaction – FCX, GME, MU, YOKU, XONE


The SPX Market Forecast is pointed at 85.

___________________

Setups
Horizontal Breakout: BX, SCHW, SINA (long term), TPX (long term), UPL, AA, DAVE, EMC, HPQ, INTC, NTAP, PCLN, STX,      
Diagonal Breakout: FAS, STI,      
Bull Flag: SPY, ATI, CMGE, CTRP, DAL, EXPE, FEYE, FSLR, JD, MBLY, PANW, QIHU, RAX, SPWR, YELP, YOKU, TAN, YY, AAPL, BIDU, EA, GOOGL, MNST, MU,       
Potential Bullish Divergence:  
Gap Up: MAR,      
Gap Down:
Bear Flag:  
At Support: IWM, LC, LOCO, UA, CELG, GRMN, WFM,      
C- Pattern:  

Moves
New Highs: CRM, ETFC, NTES,       
H Breakout: BAC, MS, ZION,        
D Breakout: C,       
Breakout Test:
Bull Flag Bounce: SPLK, SUNE, V, CYBR, SFUN, YNDX, ADBE,         
Bounce: SLCA,      
MACD Divergence Bounce:      
Gap Up: AMBA, GPRO,     
Gap Down: SSYS, X, LVS, AKAM, WYNN,       
C- Pattern:   
Bear Flag:  
Support Break: GME, SCSS, SWI, GLW, KKD, KNDI, UAL, ADSK, FB, ROST, YHOO,       
______________________


28 of 100 NDX stocks closed higher on Wednesday.


Leading NDX 100 stocks included: VRSK, MDLZ, CHTR, MAR, MYL, BIIB, DISCA, CTXS, ALXN, ALTR

Lagging NDX stocks included: WYNN, AAL, GRMN, DLTR, ESRX, YHOO, ORLY, WDC, ROST, ADSK

Leading stocks > +2% on Wednesday: GPRO, CRM, SINA, AMBA, TFC, SLCA, VXX, UNG, BAC 

Lagging stocks < -2.0% included: SSYS, X, TWTR, LOCO, VJET, SWI, SCSS, DDD, XONE, BABA, CMGE, YOKU, UBNT, GME, FSLR, DAL, JCP, BBY, JD, CCL, JUNO, RCL

Stocks to Watch on Thursday
Holding Above 30 DMA = 53
LVNTA, SIAL, KRFT, ORLY, ADI, VRSK, XLNX, CTRX, MDLZ, VIP, CTXS, TSLA, MYL, DTV, NFLX, PCLN, SBUX, GILD, PCAR, VIAB, STX, TSCO, VOD, MAT, AKAM, CSCO, INTC, MU, SYMC, AAPL, AMZN, ATVI, BIDU, CHKP, EA, MNST, MSFT, REGN, SIRI, BRCM, LRCX, FAST, INTU, NTAP, ADBE, EBAY, FOXA, GOOG, LBTYA, MAR, NVDA, QCOM, CA

Moving Above 30 DMA = 2
CHTR LMCA                                                                                                                                                                        

Moving Below 30 DMA = 10
AAL, CERN, CMCSA, ESRX, FISV, GRMN, KLAC LLTC, WDC, WYNN                                                                                     

Staying Below 30 DMA
VRTX, ADSK, ALTR, AMGN, CELG, DISCA, HSIC, SBAC, SPLS, ALXN, BIIB, FB, ILMN, SRCL, AVGO, ISRG, NXPI, TXN, YHOO, WBA, CTSH, DLTR, ADP, BBBY, COST, EXPD, ROST, PAYX, CHRW, SNDK, TRIP, AMAT, GMCR, DISH, WFM

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Neutral