Three of nine sectors moved higher on Wednesday. XLE,
XLF, and XLU were the strongest sectors.
Breadth
strengthened as
advancers led decliners 1.09 to 1 on
the NYSE and decliners barely led advancers 1.01
to 1 on the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 1,577 1,214
Decliners 1,441 1,233
SPY moved up 2 cents to 134.16 on 141.7 million
shares, closing above its 30 DMA
for the eleventh consecutive day. The
SPX moved down -0.02 at 1,341.45.
The
Market Forecast green line moved below the
upper reversal zone and is pointed down today.
AAPL
down -3.78 at 604.78 on 16.7 million shares
formed a hammer...
FB
down 50 cents at 30.97 on volume of 13
million shares...
GRPN
-0.54, -6.50%…
JPM and WFC will report on Friday.
Chart Patterns
Daily
Bull Flags Setups: UCO,
X, MOS, FAS, NFLX,COP, COF, POT, COST, URE, FISV, VMED, GE, MU,
ADP, SPY,
C,INTU, CL, TFM, DIS, VMI, EXPE,
LLTC, IWM, HSY, VRSN, AMZN, PCLN, DIA, QQQ, DE, AVGO, AKAM, SHW, CSTR, VECO,
NVDA, LEN, ALXN, GOOG, SHLD, ALGN, MLNX, ZAGG, LNG, FMC, AAPL, GMCR
Flag Bounce: TSLA, SPG,
Breakout
Continuation: KMB,
Breakout
Setup: ESRX, AKS, MNST, GOLD,
At
Support: JDSU,
APOL, MTW, GLW, ULTA, KLAC, MCP, CTXS, ADSK, F, MCHP,
Break
of Support:
CIEN, EBAY, ALTR, VMW, CRUS, AMAT, MRVL, CROX
Technical Commentary:
The
SPY, DIA, QQQ and IWM each dropped after the FOMC notes were released and then
rallied into the close forming hammer or hammer-like candles. AAPL formed a hammer, NFLX was up and ROST was down 16
cents forming a potential hammer above the mid-section of a large white candle.
Stay with the trend and watch for a potential bounce entry on Thursday or Friday
until price breaks support.
Wednesday Highlights:
SPY
closes up 2 cents
The
Euro moved down 17 pips, closed at 1.2235
TNX
0.00
VIX
gained -0.77 at 17.95
XLF
up 12 cents at 14.46
31 of 100 NDX stocks closed higher on Wednesday…
Leading NDX 100 stocks included FSLR, NFLX, VOD, AMGN, RIMM, ESRX,
CMCSA, FFIV, PAYX, ORLY
Lagging NDX stocks included APOL, NUAN, VRTX, SHLD, LRCX, SIAL, DLTR,
SNDK, SPLS, GOOG
Leading stocks > +2% on Wednesday included TSL, UCO, LDK,
ANF, UAL, DECK, STI, BAC
Losing stocks < -2.0% included CIEN, JDSU, GES, GRPN,
ZAGG, HLF, INFA, FCX
Stocks to Watch on Thursday
Holding
Above 30 DMA = 23
ICE,
CSTR, DLR, HLF, URE, MOS, V, UAL, CHL, ESI,
DE, FAS, STI, ZION, AKS,
X, ANF, ATI, SLB, VECO, TSLA, TLT, WDC
Moving Above 30 DMA = 3
GS, LNKD, UCO
Moving Below 30 DMA = 5
CIEN, GES, ZAGG
Staying
Below 30 DMA
FCX, RCL, BAC, CREE, JDSU, LDK, MCP, SMH, CLF, CRM,
CROX, CRUS, DHR, GLW, IBM, INFA, NTES, SWI, SWKS, TSL, A, C, CDE, SOHU, SWK,
TBT, HUM, CMG, SINA, F, RVBD, GRPN, FAZ, NKE, LDK, VMW, TIF, ANR, JNPR, LVS,
TPX, COH
Four
Week Intermediate Term Market Trend:
Up
Short Term Market Trend: Down
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