Three of nine sectors moved higher on Wednesday…XLU,
XLI and XLB were the
strongest sectors while XLE was the weakest sector.
Breadth weakened as
decliners led advancers 1.32 to 1 on
the NYSE and 1.80 to 1 on the NASDAQ.
Wednesday – weakened, decliners led
Tuesday – strengthened, advancers
led on NYSE
Monday – weakened, decliners led
Friday – mixed, mixed
Thursday – mixed, decliners led
SPY down .89 at 207.67 on 67.6 million shares
VIX up .77
at 16.06…
TNX up .16 at 23.38…
TLT down .25 at 118.43…on
2.8 million shares
XLF down .08 at 24.49…on
22.3 million shares
AAPL down .66 at 116.11 on 45.1
million shares
FB up 1.10 at 109.01 on 25 million
shares
Technical Commentary:
IWM -0.87%, SPY -0.43%, DIA -0.32%, QQQ
–0.12%.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
The SPX Market Forecast is at 87.
Short-term Chart Targets:
SPY =...212.08…
QQQ = 114.11, 118.17…
IWM = 121.23…
Support Levels
SPY = 208.17
QQQ = 113.39
IWM = 115.42
__________________
Setups
Horizontal Breakout: CRM, JBL, JBLU, NTES (long term),
Diagonal Breakout:
Bull Flag: IWM, SPY, QQQ, BABA, C, CIEN, DAL, ETFC,
EXPE, FSLR, GLW, GME, HPQ, KWEB, LC, MPEL, SCHW, SINA, SLCA, SOHU, SONC, SPWR, SUM,
TPX, UAL, X, YELP, ADSK, EBAY, ILMN,
MSFT,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: AA, CRUS, X, WBA,
C- Pattern:
Moves
New Highs: AMZN, GOOGL,
H Breakout:
D Breakout:
Bull Flag Bounce: JUNO, ADBE, BIDU, BRCM, FB,
MACD Divergence Bounce:
Bounce: VRSN, EA, PCLN, TSLA, TXN,
Gap Up: AMZN,
Gap Down: GMCR,
C- Pattern:
Bear Flag:
Support Break: FIT, NKE, RUN, SEDG, VSLR, GMCR, NTAP, STX,
______________________
41 of 100
NDX stocks closed higher on Wednesday and
one was unchanged.
66
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on
Thursday:
Moving Above 30 DMA = 2
BRCM, EA
Moving Below 30 DMA = 6
BBBY, ESRX, INTC, NTAP, ROST, SWKS
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Down
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