Wednesday, June 17, 2015

Yellen Queen for the Day as Rates Unchanged...TRIP Soars...AMBA New High...Cyber, Solar Stocks Sizzle...

Seven out of nine sectors moved higher on Wednesday…XLU, XLP and XLY were the strongest sectors and XLE was the weakest. 
 
Breadth weakened slightly as advancers led decliners 1.10 to 1 on the NYSE and 1.10 to 1 on the NASDAQ where decliners led advancers.

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


SPY up .34 at 210.59 on 126.6 million shares
VIX down .31 at 14.50…
TNX down .12 at 23.06…
TLT down .92 at 118.15…
XLF down .03 at 25.04 on 45 million shares

AAPL down .30 at 127.30 on 32.8 million shares
FB up .73 at 81.79 on 18.3 million shares


Technical Commentary:
IWM -0.15%, DIA +0.15%, SPY +0.16%, QQQ +0.28%

Yellen was once again Queen for the day as the FOMC announcement generated its typical volatile ride as the Fed once again left rates unchanged.  Many are expecting the Fed to raise rates as early as September.

TRIP +11.20, +14.65% soared after TRIP and MAR announced an instant booking process where travelers will be able to book rooms in more than 4,200 MAR hotels from the TRIP Advisor site.  TRIP was the biggest gainer in both the SPX and NDX on Wednesday.

AMBA +4.38, +3.72 rose to a new all-time closing high after a two pause which traded above Friday’s S1.

FB +0.73, +0.90% after on analyst buy reiteration and target price raised from 100 to 108.

Cyber security stocks CYBR, PANW, SYMC FEY, SPLK, QLYS and PFPT rose on Wednesday.

Solar stocks CSIQ, VSLR, SEDG and SCTY started to sizzle today.


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 = 212.67, 213.78...
QQQ = 110.81, 111.16
IWM = 127.13, 128.15…

Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.94, 122.52...


The SPX Market Forecast is pointed down at 43.

___________________

Setups
Horizontal Breakout: IWM, CIEN (long term), FAS, GIMO (long term), GOGO, GPRO, NKE, SEDG, SFUN, SPLK (long term), TASR, TSL, CREE, EMC, ZU, CMCSA, NTAP, TSLA,
Diagonal Breakout: SPY, CCL, NCLH, SWI, V, BBRY, BBY, GLW, VRSN, FB, MAR, MSFT, TXN,
Bull Flag: AIG, C, JD, SVXY
At Support: YNDX, AKAM, MYL, PCLN

Moves
New Highs: AMBA, CYBR, NTES, PANW, TPX, EA, SBUX,  
H Breakout: TRIP,   
D Breakout: CRM, MBLY (long term), VSLR
Bull Flag Bounce: GME,
Bounce: BABA, DAL, HPQ, LC, X, ANR, HOG, LVS, MFRM, MU,  
MACD Divergence Bounce: COST, WDC,
Gap Up: QIHU, SOHU, YOKU, YY, BIDU

______________________

Watch List Stocks
Leading stocks > +2% on Wednesday: SFUN, YY, QIHU, YOKU, MBLY, SOHU, CYBR, SINA, GLNG, AMBA, ASNA, PANW, KWEB
                                                       
Lagging stocks < -2.0% included: JUNO, JD, OCN, SHAK


71 of 100 NDX stocks closed higher on Wednesday and one was unchanged.

Leading NDX 100 stocks included: TRIP, TSLA, EA, REGN, BIDU, MAT, SYMC, ALXN, DLTR, WYNN

Lagging NDX stocks included: ADBE, AMAT, VIP, MYL, PCLN, NFLX, CTSH, NXPI, DISH, VOD


NDX Stocks to Watch on Thursday
Moving Above 30 DMA = 4
FAST, NVDA, ROST, TRIP
  
Moving Below 30 DMA = 1
ADBE


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

No comments: