Seven of nine sectors moved higher on Wednesday…XLP, XLV and XLU were the strongest sectors while
XLK was the weakest sector. Oil futures
rose .08 to close at 48.91.
Breadth strengthened as advancers led 2,002 to 1,021 on
the NYSE and led 1,610
to 993 on
the NASDAQ.
Wednesday
– strengthened, advancers led, +7
Tuesday –
weakened, advancers led, +3
Monday – Memorial Day Holiday
Friday – strengthened, advancers led, +8
Thursday - weakened, advancers led on NYSE, +5
SPY up .43
at 210.27 on 69.9 million shares, 12% below average volume
VIX up .01
at 14.20
TLT up
.26 at 130.42…on 9.8 million shares, 39% above average volume
Technical Commentary:
IWM +0.68%, SPY +0.20%, DIA
+0.05%, QQQ +0.01%,
Technical analysis based trades should be closed before earnings.
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: NFLX, AAPL,
ATVI, BIDU, NTES, QCOM, BMRN, MUR, DIA, FMC,
Bull Flag Bounces include: CHKP, COST,
Horizontal Breakout Setups include: SWN, RRC, SWKS, CTXS, ZION,
STI, CERN, GLPI, OKE, EQT, MAT, FISV, XLI, XLF, FAS, PCAR, TSCO, UTX, ADP, LUK,
JEC, CLR, JNJ, EA, BSX, YELP, WWAV, ADI, RSPP, WRK, CRZO, AVGO, FLIR, AMZN,
SWKS,
Horizontal Breakout include: WMB, VMW, REGN, MXIM, CMCSA, AXP,
New Highs include: NVDA, DLTR, CNP, MU,
______________________
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 SPY MFC green line pointed up at 86, bullish.
57 of 100
NDX stocks closed higher and one was
unchanged on Wednesday.
73
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
LBTYA
Moving Below 30 DMA = 5
BIDU, CTRP, EBAY, EXPE,
YHOO
6-month Intermediate Term
Market Trend: Neutral
3-day Short Term Market
Trend: Up
No comments:
Post a Comment