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Eight of nine sectors moved higher on Wednesday…XLE, XLY and XLK were the strongest sectors while XLU was the weakest sector. Oil rose 2.31 to close at 31.43.
Eight of nine sectors moved higher on Wednesday…XLE, XLY and XLK were the strongest sectors while XLU was the weakest sector. Oil rose 2.31 to close at 31.43.
Breadth was mixed as advancers led decliners 4.34 to 1
on the NYSE and 2.56 to 1 on the NASDAQ.
Wednesday – mixed, advancers led
Tuesday –
strengthened, advancers led
Monday – Washington’s Birthday
Holiday
Friday – strengthened, advancers led
Thursday- weakened, decliners led
SPY up 3.10
at 192.88 on 136.0 million shares, 21% below average volume
VIX down 1.80
at 22.31…
TNX up .41 at 18.19…
TLT down
.80 at 129.31…on 13.1 million shares, 20% above average volume
XLF up .28 at 21.10…on
64.8 million shares, 14% below average volume
AAPL up 1.48 at 98.12 on 44.8 million shares, 22% below average volume
FB up 3.59 at 105.20 on 44.0
million shares, 1% below average volume
Technical Commentary:
QQQ +2.26%, DIA +1.68%,
SPY +1.63%, IWM +1.57%.
QQQ,
DIA, SPY and IWM each rose for the third
straight day on Wednesday forming a
Three White Soldiers candle pattern.
Eight sectors rose, TLT bonds fell and TNX interest rates rose.
FOSL +28.55%, GRMN +16.55% and PCLN +11.24% soared
on a better than expected earnings to lead the SPX. Other SPX leaders
included CNX, FCX, SWN, KMI, HP, PXD,
DO, MOS, MYL, FTI, MUR, APA, ES, NFLX, COG, CRM, CBG, THC, NBL, LNC, MU, HPE,
RIG, CTXS, EXPE, NRG, MAT and HAR.
The
NDX +2.31% and QQQ +2.26% were led by point
gainers MSFT, FB, PCLN, AMZN, GOOG,
INTC, CSCO, AMGN, QCOM, BIIB, BIDU, TSLA, ADBE, AAPL, ALXN, MDLZ, TXN, FOXA,
AVGO and MYL. An impressive 96 NDX stocks rose while forty-seven of those gained 2.50% or more.
Twenty-eight
of 30 Dow stocks rose on Wednesday led by
gains in CVX, BA, CAT, DD, DIS, IBM, UNH,
UTX, MSFT, CSCO and INTC.
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Horizontal Breakouts
occurred on Wednesday in AAPL, AAL, CHKP, CAT,
DD, MMM, AAL, DAL, UAL, CTRP, LLTC, TRIP, KMI, HP, MYL, NFLX, GOOG, CRM, EXPE,
Horizontal Breakout Setups include: UA, BBY, FAST, FISV, JNJ, LUV,
AKAM, ALXN, BBBY, BIDU, CELG, COST, EA, JD, MXIM, DO, MOS, FTI, AMZN, FB, CTXS,
MU, SOXL,
______________________
YTD:
SPX Leaders: NEM, KORS, SWN, SE, FOSL, ADT, EQT, CTL, M, MAT
(164, +35)
SPX Losers: CHK, ESV, MRO,
WMB, DVN, MPC, URI, TSO, ADS, VRTX
NDX Leaders: MAT, PCAR, FAST, FISV, DLTR, XLNX, HSIC, DISCK,
LLTC, ROST, (22, +10)
NDX Losers: INCY, VRTX, TSLA, WDC, NCLH, REGN, BMRN, ATVI,
ADSK, TRIP
DJI Leaders: VZ, WMT, XOM, MMM, PG, KO, UNH, MCD
DJI Losers: AXP, BA, GS,
INTC, JPM, DIS, DD, IBM, HD, UTX
Remember: “It’s
a market of stocks, not just a stock market.”
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 up at 25.
96 of 100
NDX stocks closed higher on Wednesday.
53
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 20
AAL, AAPL, AMAT, AMGN, AVGO, BIDU,
CELG, CHTR, COST, CTXS, DISCA, FOXA, ISRG, KHC, KLAC, MSFT, MU, PCLN, SYMC,
YHOO
Moving Below 30 DMA = 1
GILD
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Up
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