Euro Pulls Back...Stocks Finish Sligtly Lower...

Three sectors moved higher on Wednesday… XLE, XLV, and XLB were the strongest sectors…

ECB meeting Thursday and Jobs Report and the Unemployment report are released on Friday…

Breadth weakened as decliners led advancers 1.69 to 1 on the NYSE and 2.79 to 1 on the NASDAQ.

Exchange      NYSE    NASDAQ

Advancers     1,109          634

Decliners       1,876        1,763

Chart Patterns

Breakout: 

Gap Up:  CMCSA, VOD,

Gap Down: BMC

Breakout Continuation: CIEN, SHW, EXPE, CL, KLAC, HAL, ETN, T, S, BRCM, VMED, AEM, AKAM, SWI, WDC, EXPE, KMB

Breakout Pullback: JNPR, JDSU, HLF, COH, SWK, GS, ALGN, COST, MTW, INFA, BIDU, ALTR, BIIB, LMT, PNRA, BA,

Breakout Setup: EBAY, VMW, AMZN, AVGO, FISV, ADSK, FAS, GES, C, CREE, ANF, SMH, URE, MOS, IBM, ICE, LLTC, NSC, WHR, CAT, POT, VECO, HSY

Earnings of Interest Week July 30 – Aug 3

Tuesday: ADM, BMC, COH, XRAY, DB, FMC, KLIC, LIFE, MDC, VLO,

Wednesday: ICE, MA, WTW, YELP,

Thursday: ATVI, AIG, AVD, APA, DTV, HSIC, KFT, LBTYA, LNKD, MELI, MCHP, UPL, ZAGG,

Friday: AGU, NYX, BID,

Technical Commentary:

The market experienced a flood of errant trades causing turmoil and confusion in Wall Street…The routing of around 150 stocks listed on the New York Stock Exchange were affected…Knight Capital Group Inc. was responsible for the glitch…suffered technology issues…Shares of Knight Capital Groups Inc. fell 33%...

CMCSA gapped up…closing up $1.00 at 33.55 with 22,100,000 in volume…

VOD gapped…up closing up .69 cents…Volume was 14,800,000 and closed at 29.44…

BMC gapped down…breaking support…closing at 37.51 down $2.09…

down 5.28%...

Wednesday Highlights:

The SPX moved down - 4.00 at 1,375.32 closing above its 30 DMA and above the 75% level of its April - July trading range of 1,422 – 1,266. 

DOW… Down - .29%

NASDAQ… Down .66%

Oil…Up 1.50%

The Market Forecast green line is pointed up.

31 of 100 NDX stocks closed higher on Wednesday…

Leading NDX 100 stocks included EA, CMCSA, VOD, BIDU, GRMN, SYMC, WYNN, LIFE, VRTX, VRSN, XLNX

Lagging NDX stocks included BMC, FSLR, CTXS, NFLX, FOS, SBUX, PCLN, MNST, APOL, FAST, PNRA, ALXN

Leading stocks > +2% on Wednesday included X, HUM, UCO, LVS, CLF

Losing stocks < -2.0% included LDK, ESI, LNKD, MCP, TSLA, CMG, FB, UAL, HLF

Stocks to Watch on Thursday

Holding Above 30 DMA = 33

URE, MOS, CHL, SLB, TLT, WDC, UCO, TPX, SWK, TIF, DLR, GS, JNPR, RVBD, SWI, CIEN, CROX, CRUS, DHR, FAS, GES, HLF, IBM, SMH, SWKS, V, VECO, VMW, C, FCX, ZAGG, A, X

Moving Above 30 DMA = 3

ANF, CREE, DE

Moving Below 30 DMA = 1

RCL

Staying Below 30 DMA = COH, NKE, ICE, JDSU, STI, FAZ, LNKD, ATI, CRM, TSLA, CMG, DECK, ESI, ZION, BAC, UAL, FB, AKS, CSTR, LDK, MCP, CLF, GLW, INFA, NTES, TSL, CDE, SOHU, TBT, HUM, SINA, F, GRPN, ANR, LVS

Eight Week Intermediate Term Market Trend: Up

Short Term Market Trend:Neutral