Stocks Fall After Yellen Comments on Rate Hike...NFLX All-time High...Employment Report on Friday...

All nine sectors moved lower on Wednesday…XLE, XLU and XLB were the strongest sectors while XLP was the weakest sector. 

Breadth weakened as decliners led advancers 3.53 to 1 on the NYSE and 1.97 to on the NASDAQ.

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – weakened, advancers led on NYSE

Friday – weakened slightly, advancers led

Thursday – Thanksgiving Holiday

SPY down 2.15 at 208.53 on 108.1 million shares

VIX up 1.24 at 15.91…

TNX up .23 at 21.78…

TLT up .04 at 122.87…on 7.3 million shares

XLF down .29 at 24.54…on 35.5 million shares

AAPL down 1.06 at 116.28 on 33.3 million shares

FB down 1.05 at 106.07 on 24.3 million shares

Technical Commentary:

IWM -1.08%, SPY –1.02%, DIA -0.85%, QQQ -0.62%.

Fed’s Yellen says looking forward to day when Fed raises rates, markets sell off.

FOMC meeting Tuesday and Wednesday, Dec 15 -16.

Employment report on Friday, December 4.

Airlines UAL, DAL, AAL, LUV and ALK rise as oil falls.

NFLX +3.56, +2.84% makes all-time closing high.

YHOO, QCOM, SWKS, INTC are HBO setups.

NKE, BA, HD, JNJ, KO, MCD, MMM, V are in bull flag setups.

WYNN, JD, EA, ROST move higher.

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 73. 

Short-term Chart Targets:

SPY =...211.66…

QQQ = 115.47…

IWM = 120.99, 123.07…

                   

Support Levels

SPY = 208.56, 207.41

QQQ = 113.65, 112.84

IWM = 118.90, 116.56

__________________

Setups

Horizontal Breakout: SPY, QQQ, AA, AIG, BABA, BAC, C, CCL, CRM, CSIQ, CTRP, ETFC, FSLR, JBLU, MS, NCLH, PANW (long term), QIHU (long term), QRVO, RAX, SCHW, SINA, STI, SONC, GMCR, GRMN, LLTC, SWKS,

Diagonal Breakout: EXPE, FAS, LNKD, PLAY, TPX,

Bull Flag: CIEN, GLW, IWM, NKE, YNDX, MFRM, BIDU, COST, MNST

At Support: CMCSA

Moves

New Highs: NTES, NFLX, PANW, QIHU,

H Breakout: YELP, CRUS, GOGO, SCTY,

D Breakout: LC, MPEL, RCL, SFUN, SONC, SUM, TSL,

Bull Flag Bounce: NTES, YELP

Bounce: YNDX,

Gap Up: DAL, W, YHOO, QCOM

Support Break: HPQ 

______________________

17 of 100 NDX stocks closed higher on Wednesday.

54 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

INCY

Moving Below 30 DMA = 8

ADP, BIIB, CHTR, DISH, LMCA, MU, SNDK, VOD

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral