Wednesday, September 23, 2015

Stocks Move Lower...But Not By Much...Some Bounces & Bull Flag Bounces...Other Stocks Resting At Support...

Four sectors moved higher on Wednesday…XLU, XLK, XLP were the strongest sectors while XLB was the weakest sector.

Breadth strengthened as decliners led advancers 1.42 to 1 on the NYSE and 1.35 to 1 on the NASDAQ.

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


SPY down .31 at 193.60 on 92.5 million shares, below average volume
VIX down .31 at 22.13…
TNX up .19 at 21.44…
TLT down .01 at 121.77…on 6.7 million shares
XLF up .01 at 22.64…on 28.2 million shares, below average volume

AAPL up .92 at 114.32 on 35.7 million shares
FB up 1.01 at 93.97 on 21.6 million shares

Technical Commentary:
IWM -0.30%, DIA -0.25%, SPY -0.16%, QQQ +0.08%.



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 =...199.84
QQQ = 105.61, 106.93
IWM = 115.70, 116.42…

Support Levels
SPY = 194.25, 192.59...
QQQ = 103.59, 100.63
IWM = 113.66, 111.60...


The SPX Market Forecast is pointed down at 38.

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Setups
Horizontal Breakout: CYBR, SSYS, ADBE, SBUX,  
Diagonal Breakout: GPRO,
Bull Flag: QQQ, DAL, ETSY, EXPE, PANW, UA, LC, LNKD, UAL, AMZN, CMCSA, JD, PCLN,
Potential Bullish Divergence: 
Gap Up
Gap Down: 
Bear Flag:  
At Support: BABA, BX, SLCA, SOHU, BBRY, CREE, EMC, GLNG, UPL, VJET, GRMN, TRIP,
C- Pattern

Moves
New Highs
H Breakout
D Breakout:  
Bull Flag Bounce: CCL, NCLH, RCL, SWKS, AVGO, EA, SWKS,
MACD Divergence Bounce:  
Bounce: BAC, MBLY, NTES, SPLK, SVXY, GIMO, HABT, COST, FB,
Gap Up
Gap Down:  
C- Pattern:    
Bear Flag:  
Support Break: AMBA, SCTY, SUM, AA, FOGO, ZNGA,


______________________

Watch List Stocks
Leading stocks > +2% on Wednesday: CYBR, CCL, NCLH, W, PYPL, HABT, GIMO,
                                                       
Lagging stocks < -2.0% included: SUNE, SCTY, AMBA, X, TSL, SLCA, LVS, ETSY, SEDG, RUN, BABA, SUM CTRP, FSLR, SOHU, VXX, EXPE, YOKU, SINA, GPRO, ESI, CSIQ, FEYE, FOGO, GLNG, ATI, SSYS, XONE, DAVE, TAN, LC, LOCO, SPWR, YNDX, SFUN, AA, UPL, DGLY, GOGO, VJET, VSLR, RAX

39 of 100 NDX stocks closed higher on Wednesday and two were unchanged.

Leading NDX 100 stocks included: COST, SWKS, FISV, ORLY, REGN, SBUX, EA, FB, DLTR, ADBE

Lagging NDX stocks included: WYNN, JD, MU, AMAT, KLAC, LRCX, GMCR, BIDU, MYL, TRIP

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
FISV, VRSK, EA

Moving Below 30 DMA = 6
GOOG, MAT, GMCR, DISH, NXPI, SWKS


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




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