All nine sectors moved higher on Wednesday…XLV,
XLB and XLF were the
strongest sectors while XLU was the weakest sector.
Breadth strengthened as advancers led decliners 3.43 to 1 on the NYSE and 2.10 to on
the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners led
Monday – strengthened, advancers led
Friday – strengthened, decliners led
Thursday – weakened, decliners led
SPY up
3.26 at 208.73 on 114.8
million shares
VIX down 1.99 at 16.85…
TNX up .08 at 22.69…
TLT up .25 at 120.02…on
5 million shares
XLF up .43 at 24.59…on
67.8 million shares
AAPL up 3.60 at 117.29 on 46.1
million shares
FB up 2.64 at 107.77 on 23.6 million
shares
Technical Commentary:
QQQ +1.92%, IWM +1.69%, SPY +1.59%, DIA
+1.47%.
Monday push, Tuesday pause, Wednesday push. QQQ after
falling -4.86% in
eight days, rallies 3.45% in three days. SPY after falling -4.31% in
eight days, rallies 3.06% in three days. Markets can and do rise faster than they
fall.
VIX drops confirming
SPX move up and resumes multi-month
downtrend.
(click image to enlarge)
What happened on Wednesday? Bull flag bounces in QQQ, AMZN, GILD, GRMN, BAC, NVDA, MNST, CMCSA, SBUX, JPM, MS, GOOGL, LNKD,
WFC, LMCA, ETFC, EBAY and ESRX happened
today. That’s what everyone’s talking
about.
(click image to
enlarge)
Still available setups in BABA, FSLR and KWEB.
GMCR +7.74, +19.11% jumps after the close as earnings don’t drop as much as
forecasted. Look for potential bullish
gap on Thursday morning.
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 MFC green line is pointed down at 63.
Short-term Chart Targets:
SPY =...209.49…
QQQ = 114.51…
IWM = 117.08, 118.34…
Support Levels
SPY = 204.88
QQQ = 111.21
IWM = 114.52
__________________
Setups
Horizontal Breakout: BAC, C, CIEN, CRM, FAS, GLW, JUNO, LNKD, NTES,
SCHW, SINA, SLCA, SOHU, SUM, TPX, ADBE, BRCM, FB, GOOGL, TRIP, XLNX,
Diagonal Breakout: AIG,
AMBA, CRUS, KWEB, NCLH, PANW, PYPL, RPD, TSL, AVGO, EBAY, GILD, INTC, SBUX,
STX, TSLA, TXN, WBA, WDC, WFM, YHOO,
Bull Flag: DAL, QIHU, SFUN, ADSK,
Moves
New Highs: JBL, V,
VRSN, COST,
H Breakout: YNDX, NFLX,
D Breakout: SPY, QQQ, BX, GLW, MBLY, QRVO, STI, AAPL, BIDU (long
term), CMCSA, Bull Flag Bounce: CTRP, JBLU, MS, NKE, AMZN, GRMN, MNST, MSFT,
MACD Divergence Bounce:
PLAY, SHOP, UA,
Bounce: IWM, BBY, CSIQ, CYBR, EXPE, FSLR, HPQ, RAX, SPWR, TAN, UAL,
VSLR, AKAM, PCLN
Support Break: QCOM,
______________________
86 of 100
NDX stocks closed higher on Wednesday and
one was unchanged.
59 NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 14
AAPL, BIIB, CA, CMCSA, DLTR, GILD, GRMN, SBUX, ADI, TSLA,
CHTR, DISH, TRIP, SWKS
Moving Below 30 DMA = 1
CHKP
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Up
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