Wednesday, April 8, 2015

RUT and NDX Lead Market Higher after Tuesday's Pause...Chinese Stocks Soar...AA and BBBY Earnings After the Close...

Seven out of nine sectors moved higher on Wednesday…XLY, XLV and XLF were the strongest sectors and XLE was the weakest.
 
Breadth strengthened as decliners led advancers 1.58 to 1 on the NYSE and 1.77 to 1 on the NASDAQ.

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


SPY up .69 at 207.97 on 89.2 million shares, 14% below average volume
VIX down .80 at 13.98…
TNX up .02 at 18.95…
TLT up .04 at 131.13…
XLF up .09 at 24.21 on 18.5 million shares, 33% below average volume

AAPL down .41 at 125.60 on 37.2 million shares, 26% below average volume
FB down .04 at 82.28…on 18.9 million shares, 23% below average volume


Technical Commentary:
DIA + 0.18%, SPY + 0.34%, QQQ + 0.79%, IWM + 0.86%.

Chinese New Year was on Feb 19 and 2015 is the year of the goat.  YOKU +14.52%, SINA +11.48% and QIHU +11.17% have been looking like goats since Feb 19 but that changed today on heavy volume.  Even BABA +3.87% gained.

                   (click image to enlarge)

The NDX +31.88 was led by point leaders MYL, AMZN, BIDU, AMGN, CMCSA, GILD, BIIB, YHOO, GOOG, REGN, CELG, NFLX, SBUX, VRTX and CSCO which accounted for 21.9 points.

MYL’s +14.76% bid, $205, for PRGO +18.39% made the stocks the SPX’s biggest gainers.  Other leading SPX stocks included NFLX, DAL, DLTR, LUV, YHOO, MNK, JBL, DG, VRTX, M, DRI and AAL,

RUT leaders included DYAX, XON, CVLT, KITE, NBIX, AGIO, PENN, WETF and BLUE.

Earning’s season started after the close with negative reactions from AA -3.22% which beat on earnings and missed on revenues and BBBY -3.15% which missed on earnings, revenues and guidance.


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 = 208.61, 211.11...
QQQ = 106.82, 109.07
IWM = 125.94…

Support Levels
SPY = 204.12, 203.49...
QQQ = 104.24…
IWM = 122.90, 121.54...

Q1 Earnings Reaction
Positive Reactions – KMX, DGLY, CTRP, JUNO, KBH, MFRM, NKE, 

More than 10% - DGLY, CTRP, JUNO, 

Negative Reactions – MU, YOKU, XONE, 

More than -10% - YOKU, 

Reversal in progress 

Reversal of Initial Reaction – 


The SPX Market Forecast is pointed up at 42.

___________________

Setups
Horizontal Breakout: IWM, BABA, BX, C, CREE, FSLR, GME, GPRO, MBLY, PANW, SCSS, SPLK, STI, SWI, UA, UBNT, YELP, ZION, EMC, LVS, MTW, VJET, XONE, YNDX, ZU, ADSK, PCLN, TSLA, XLNX,   
Diagonal Breakout: BBY, CIEN, CSIQ, FEYE, LNKD, MS, NKE, RAX, SCHW, SPWR, SSYS, SWKS, TPX, UBNT, V, JNPR, KKD, AVGO, GILD, GOOGL, ILMN, MU, NTAP, ROST, SBUX, STX, TRIP, WDC, YHOO,  
Bull Flag: AMBA, ETFC, JCP, JUNO, MFRM, RCL, SCSS       
Gap Down: AA, BBBY
At Support: WFM

Moves
New Highs: CMGE, CTRP, EXPE, JD, NTES, SUNE, UA, TAN, VRSN, MYL,
H Breakout: CMGE, FEYE, NTES, SOHU, ZNGA, HOG, P, AMZN,  
D Breakout: SINA, YOKU, YY, NFLX
Bull Flag Bounce: NCLH,  
Bounce: BABA, DAL, DGLY, ETFC, JUNO, KNDI, UAL, AAL, CELG, MAR,  
MACD Divergence Bounce: Z,  
Gap Up: CMGE, QIHU, SFUN, BIDU,   

Gap Down: ANGI 
______________________


81 out of 100 NDX stocks closed higher on Wednesday.


Leading NDX 100 stocks included: MYL, BIDU, NFLX, DLTR, YHOO, VRTX, AAL, REGN, GMCR, LRCX,

Lagging NDX stocks included: VIP, SBAC, STX

Leading stocks > +2% on Wednesday: CMGE, QIHU, DGLY, SOHU, JD, NTES, JUNO, LOCO, DAL, CTRP, BABA, SSYS, ZNGA, FEYE, SCTY, UBNT, TPX, Z,UA, JCP, AMBA, SPLK

Lagging stocks < -2.0% included: UPL, ATI,


Stocks to Watch on Thursday
Holding Above 30 DMA = 34
MNST, NXPI, COST, LVNTA, SRCL, CERN, FB, SIAL, KRFT, ORLY, ADI, ALTR, BBBY, EA, EQIX, VRSK, XLNX, CTRX, ESRX, FISV, ISRG, MDLZ, CHTR, LMCA, VIP, CA, CTXS, DISCA, HSIC, TSLA, AKAM, CHKP, MYL, REGN

Moving Above 30 DMA = 16
ADP, ADSK, AMGN, ATVI, BIDU, BIIB, CMCSA, CTSH, DLTR, DTV, INTU, NFLX, PCLN, SBUX, VRTX, YHOO             

Moving Below 30 DMA = 0


Staying Below 30 DMA
AAPL, SIRI, AVGO, SPLS, AAL, EXPD, ROST, FAST, PAYX, PCCAR, GOOG, ALXN, CELG, CHRW, EBAY, FOXA, MAR, MSFT, SBAC, SNDK, TRIP, TSCO, TXN, BRCM, KLAC, LBTYA, LLTC, NVDA, VIAB, ADBE, GILD, ILMN, AMAT, GMCR, QCOM, CSCO, DISH, LRCX, NTAP, WFM, WDC, MU, STX, SYMC, VOD, WYNN, GRMN, INTC, MAT

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