Breadth was stable on Wednesday as advancers led decliners 1.89 to 1 on the NYSE and 1.48 to 1 on the NASDAQ…
Exchange NYSE NASDAQ
Advancers
1,962 1,464
Decliners 1,037 988
VIX down -0.61 at 15.80…
Euro up 43 pips at 1.2899
TNX up 0.70
at 17.65…
TLT down -1.54 at 122.01…
XLF up 6 cents at 15.74…
Gold down 1.10
at 1733.60…
Oil down 6 cents
at 96.89…
AAPL up 9.20 at 669.79…volume 25.4 million shares …
FB up 1.50 at 20.93… volume 121.5 million shares…
The Market
Forecast green line is in the upper zone.
YTD At a
Glance
Wednesday
YTD
SPY
+0.33%
+16.15%
AAPL
+1.39%
+66.09%
EXPE
+0.80%
+88.20%
STX -0.37%
+86.34%
EBAY
-0.70%
+58.23%
Technical Commentary: The Euro its trend to higher levels which bodes well for U.S. stocks. Interest rates finally played some catch-up and bonds fell again. XLF rose as C, ZION, STI, MS and GS made solid gains. The SPY moved up 48 cents with many individual stocks (Leading list below)doing much better including FB +7.73% on 121.5 million shares, it’s largest daily volume for an up day since its first day of trading, a real sign that buyers are back.
Technical Commentary: The Euro its trend to higher levels which bodes well for U.S. stocks. Interest rates finally played some catch-up and bonds fell again. XLF rose as C, ZION, STI, MS and GS made solid gains. The SPY moved up 48 cents with many individual stocks (Leading list below)doing much better including FB +7.73% on 121.5 million shares, it’s largest daily volume for an up day since its first day of trading, a real sign that buyers are back.
Check out Setups below.
Last week’s
breakouts continue to indicate that higher prices are likely on the way.
New Chart Targets:
SPY = 144.92 1.61 Fib, 146.05 S&R Measuring
ES = 1,443.50 1.61 Fib, 1,455.00 S&R Measuring
Eur/Usd = 1.3095 1.60
Fib, 1.3345
S&R Measuring.
Short-term support at
143.09,
140.22, 139.80 = SPY
1,424.75,
1,403, 1,395 = ES
2,802.50,
2,750, 2,743 = NQ
Setups:
Flag/Pennant: SWI, CRUS, SWKS, TIF, COH, SCHN,
STX, ESRX, PAYX, ORCL, LINTA, GOOG, EBAY, ALTR, LLTC, AKAM, LIFE, AMZN, VRSN,
BMC
Breakout: MCP,
BTU, AKS, ANR, WLT, ACI, JRCC
30 DMA Potential Breakout: HLF, WDC, ZAGG, SMH, TSLA, A
MACD Bullish Divergence: NTES
Wednesday Bounce: FB, JNPR, SOHU, LNKD, ZION, STI, UNG,
47 of 100 NDX
stocks closed higher on Wednesday…
Leading NDX 100 stocks included: SHLD, PNRA,
FSLR, GRMN, WYNN, FFIV, MU, YHOO, SPLS, CTSH
Lagging NDX stocks included: MNST, GMCR, SIRI, BIDU, CERN, ADP, LIFE, PAYX, FOSL, MRVL
Leading stocks > +2% on Wednesday included: FB, TSL, ANF,
JNPR, SOHU, ESI, UAL, TBT, TPX, ZION
Lagging stocks < -2.0% included: CSTR, CLF
Stocks to Watch on Thursday…
Holding Above 30 DMA = 53
UCO, TPX, GS, RVBD, SWI, CROX, CRUS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF, BAC, CDE, CRM, SINA, SOHU, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, COH, GLW, CSTR, MOS, UAL, CMG, DE, DHR, ESI, IBM, SWK, TBT, VMW, AKS, ANR, ATI, VECO, CLF, JNPR, MCP, SLB, V, X
UCO, TPX, GS, RVBD, SWI, CROX, CRUS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF, BAC, CDE, CRM, SINA, SOHU, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, COH, GLW, CSTR, MOS, UAL, CMG, DE, DHR, ESI, IBM, SWK, TBT, VMW, AKS, ANR, ATI, VECO, CLF, JNPR, MCP, SLB, V, X
Moving Above 30 DMA = 2
FB, ZAGG
Moving Below 30 DMA = 1
SWKS
Staying Below 30 DMA
A, TSLA, DECK, SMH, WDC, TLT, CIEN, TSL, GES, HLF, CHL, NTES, GRPN, DLR, FAZ, LDK
Fourteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
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