Eight of nine sectors moved higher on Wednesday. XLU, XLE and XLP were the strongest sectors. XLK the weakest sector was led lower on Wednesday after ORCL missed earnings estimates Tuesday after the close. Excluding one-time charges ORCL would have earned 54 cents below expectations of 57 cents a share. After charges ORCL earned 43 cents a share. ORCL was more than 15 points of the 32 point drop in the NDX.
Money Flow
Euro -33 pips 1.3046
TNX +0.42 19.67
TLT -1.68 119.10
XLF +0.07 12.79
SPX +2.42 1,243.72
VIX -1.79 21.43
RUT +0.30%
SPX +0.19%
INDU +0.03%
COMPQ -0.99%
NDX -1.44%
Wednesday’s Money Flow resulted in the Euro being down slightly and the USD up. The TNX, XLF and the SPX gained and bonds fell which is opposite the expected reaction when the Euro is down. The SPX sold off in the morning and rallied to close near its high in the afternoon.
(click image to enlarge)
SPY moved up 24 cents on 194.1 million shares on Wednesday.
AMZN BIDU, GOOG, PCLN and QCOM moved lower with other tech stocks after the ORCL earnings took the sector lower. AAPL closed slightly higher.
Breadth weakened as advancers led decliners 1.59 to 1 on the NYSE and decliners led advancers 1.03 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 1,857 1,255
Decliners 1,167 1,298
The VIX continued lower on Wednesday to its lowest level since July 26. This continues to be a significant indication of a new major uptrend if the VIX remains under 25. During the past two years there have been three times the VIX has fallen below 25 and stayed below, Feb 2010, September 2010 and March 2011. In each of these three times the SPX has risen 5 to 15% during the next 60 days.
The 1,363 SPX chart target may not be achieved within the original estimated 10 week time frame, however the continued falling VIX is suggesting it likely is coming..
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With the weakness in tech stocks many of the Divergence Setups did not give an entry signal on Wednesday. Check the this list and the one from Friday for second chance entry opportunities: ANR, PCX, ARUN, BAC, COH, CREE, CRM, ESI, INFA, KKD, SWN, TIF, VECO, VMW, WLT, ZION, ZAGG, AMAT, ATVI, BRCM, CTXS, EA, EXPD, ILMN, LRCX, STX, SYMC, VMED and WCRX
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Leading stocks > +2% on Wednesday F, NKE, UCO, ANR, TBT, KKD, TIF, WLT, COH
Losing stocks < -2.0% included INFA, VMW, NTES, FFIV, SINA, RVBD, CRM, VECO, CSTR, ARUN, LNKD, LDK, ZAGG, IBM, CIEN
NDX 100 stocks stronger than the NDX included RIMM, YHOO, WCRX, AMGN, PNRA, LINTA, LRCX, GILD, GRMN and STX.
Stocks weaker than the NDX include ORCL, CTXS, FFIV, CTSH, BIDU, CHKP, AMZN, MU, INFY and BMC.
NDX symbol changes ERTS to EA
Deleted from the NDX: FLIR, ILMN, NIHD, QGEN, URBN
Added to NDX: AVGO, FOSL, GOLD, HANS, NUAN
Three NDX stocks BIIB, COST and YHOO closed above their 30 DMA and five ALTR, CSCO, CTSH, FFIV and MU closed below making 47 NDX stocks above their 30 DMA.
Stocks to Watch on Thursday
Holding Above 30 DMA = 21
NGLS, V, WDC, LDK, UAL, DLR, TLT, CSTR, IL, URE, GES, GRPN, CMG, DE, DHR, DOW, ENTR, FAS, HUM, SWK, UNP
Moving Above 30 DMA = 3
F, NKE, UCO
Moving Below 30 DMA = 3
FFIV, IBM, NTES
Staying Below 30 DMA
FAZ, NKE, SNDK, UCO, F, TSL, X, AKS, ATI, C, CAT, CDE, CLF, CRUS, FCX, GS, ICE, NDAQ, NVDA, SLB, SMH, TBT, ANR, RCL, TSLA, A, COH, INFA, CHL, CRM, DECK, HAL, HLF, JNPR, RVBD, STI, VECO, ZION, KKD, LVS, SLW, GLW, TIF CIEN, JDSU, VMW, ARUN, CF, CREE, SWN, WLT, MOS, PCX, TPX, GES, SOHU, MCP, BAC, CSTR, POT, SINA, SWKS, ZAGG, LNKD, ANF, ESI, CROX
Eleven Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
1 comment:
Great moves
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