Two sectors moved
higher on Wednesday…XLI, XLP, XLU
were the strongest sectors while XLE was the weakest sector.
Breadth weakened as decliners led advancers 2.46 to 1 on the NYSE and 2.87 to 1 on the NASDAQ.
Wednesday – weakened, decliners led
Tuesday – strengthened, mixed
Monday – weakened, mixed
Friday – weakened, mixed
Thursday – strengthened, advancers
led
SPY down 1.24 at 201.85 on 101.8 million shares
VIX up .95 at 16.70…
TNX down .41 at 20.30…
TLT up 1.22 at 124.05…on
6.6 million shares
XLF down .17 at 23.50…on
23.7 million shares
AAPL down .01 at 113.76 on 42.2
million shares
FB up .11 at 97.11 on 21.9 million
shares
Technical Commentary:
DIA -0.31%, SPY -0.61%, QQQ -0.61%, IWM
-1.52%.
Positive earnings reactions included MANH +5.88%, GM +5.79%, ISRG +5.58%, BHI +2.33%, SNDK +2.11%, BA +1.66% and ABT +1.10%.
Negative earnings reactions included VMW -19.40%, CMG -5.66%, IBKR -5.66%
and YHOO -5.21%.
After the close EBAY +8.43%, CTXS +6.56%, TSCO +4.35%, LVS +3.54% and AXP
-3.79%.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Earnings this Week:
Monday – HAL, HAS, HA, IBM, MS, STLD, UTX, ZION
Tuesday – ATI, CMG, HOG, IBKR, ISRG, LMT, MANH, RF, TRV, VZ, VMW, YHOO
Wednesday – ABT, AXP, BHI, BA, CA, CTXS, KO, EBAY, GM, LVS, OSTK, SNDK, TXN, TSCO,
Thursday – MMM, ALK, AMZN, T, ETFC, FCX, GIMO, JNPR, LLY, NDAQ, NUE, SIRI, SKX, LUV, SWK, UA, UAL, VRSN,
Friday – AAL, RCL, STT, WHR
Short-term Chart Targets:
SPY =...204.15, 205.38…
QQQ = 108.46, 109.03…
IWM = 116.30, 118.55…
Support Levels
SPY = 201.92, 198.94...
QQQ = 105.49…
IWM = 112.66...
The SPX Market Forecast is pointed up at 93.7.
__________________
Setups
Horizontal Breakout: GME, JCP, ULTA, AAPL,
Diagonal Breakout: LITE,
Bull Flag: IWM, SPY, QQQ, C, CRM, DAL, JBL, JUNO,
MBLY, MPEL, QIHU, SVXY, JASO, VIAV, YNDX, YY, ADBE, AMZN, BIDU, GILD, GOOGL
At Support: AA, AMBA, TASR, TPX, ATI, SCSS
Moves
New Highs: COST,
H Breakout: CRUS,
D Breakout: GMCR
MACD Divergence Bounce:
VXX
Gap Up: SWI,
Gap Down: EMC, TWTR
Support Break: CYBR, PANW, RPD, RUN, SEDG, SUNE, FOGO, UNG, MYL, YHOO,
______________________
Watch List Stocks
Leading stocks > +2% on Wednesday: SWI, VXX, CRUS, GME
Lagging stocks < -2.0% included:
SUNE, RPD, SVXY, CYBR, RUN, ETSY, AMBA,
SEDG, X, SOHU, TSL, FIT, CSIQ, GPRO, PANW, FSLR, SCTY, QIHU, BABA, AA, PLAY,
PYPL, ZION, JUNO, SUM, HOG, FAS, MS, JBL, CRM, ETFC
26 of 100
NDX stocks closed higher on Wednesday.
Leading NDX 100 stocks included: KLAC, ISRG, BIIB, GMCR, ADI, SNDK, GRMN, LRCS,
ALXN, REGN
Lagging NDX stocks included: VIP, CHTR, CTXS, YHOO, WDC, MYL, MU, WYNN,
STX, ILMN
NDX Stocks to Watch on
Wednesday:
Moving Above 30 DMA = 1
ISRG
Moving Below 30 DMA = 7
AKAM, CA, CTXS, MU,
WYNN, CHTR, JD
6-month Intermediate
Term Market Trend: Down
3-day Short Term Market Trend: Neutral/Down
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