Stocks Continue Edging Down...

One sector of nine sectors moved up on Wednesday…XLU, XLP and XLI were the strongest sectors.

Breadth strengthened on Wednesday but decliners still led advancers 1.46 to 1 on the NYSE and 1.68 to 1 on the NASDAQ…

Exchange     NYSE    NASDAQ

Advancers    1,218          907
Decliners      1,790       1,529

SPY down - .81 at 143.29...volume 146.4 million shares

VIX up 1.38 at 16.81…

TNX down -.64 at 16.18…
TLT up 1.33 at 125.04…
XLF down .10 cents at 15.49…

AAPL down – 8.36 at 665.18…volume 20.5 million shares …

FB up .34 cents at 20.62… volume38.22 million shares…

The Market Forecast green line is pointed down moving out of the upper zone.

Technical Commentary:

New Chart Targets:

SPY = 147.88 2.61 Fib

ES = 1,466.00 2.61 Fib on ESZ2

EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring.

Short-term support at
144.39, 143.09 = SPY
1,438.75, 1,421.50 = ES
2,802.50, 2,775, 2,750 = NQ

Setups:

Bull Flag: SPY, IWM, XLF, FAS, BAC, C, JPM, WFC, GS, MS, STI, ZION, A, ANR, ATI, CLF, CMG, CRM, FCX, IBM, INFA, JDSU, LVS, MCP, SINA, SLB, SOHU, TBT, TIF, UAL, BTU, WLT, JRCC, ACI, CA, CTSH, FFIV, NUAN, PNRA, QCOM, SHLD, FB, F, LNKD, GRMN, Z, PHM, VMW, EXPE, GOLD, VRTX, PCLN, NTAP, INFY, FISV

Pennant:  UAL, CDE, INFA, DHR, ZION, GS, IBM, ATI, C, BAC,

Breakout:

Break of Support:  NTAP, ISRG, VRTX, ORCL, FAST, SRCL, PNRA, SIAL, XLNX, MCHP, EA, ATVI, SWI, CIEN, SINA, JNPR, UCO, CRM, FAS, TIF,

AT Support: ICE, SOHU, FCX, AKS, GES

Moving Lower: MXIM, INTC, CREE

Gap up:

Bounce:

19 of 100 NDX stocks closed higher on Wednesday…

Leading NDX 100 stocks included: RIMM, NFLX, APOL, FSLR, AVGO, BBBY, SIRI, GOLD, ESX, LINTA

Lagging NDX stocks included: NTAP, ISRG, SNDK, MU, VRTX, SPLS, CMCSA, DTV, FLEX, FFIV, ORCL, GILD STX, NVDA, WFM, ALXN

Leading stocks > +2% on Tuesday included: MCP, DECK, CSTR, FAZ

Lagging stocks < -2.0% included: ZAGG, SWI, LDK, CIEN, SINA, TPX, JNPR, GRPN, CRUS, UCO, CRM, TBT, WDC, VMW

Stocks to Watch on Thursday…

Holding Above 30 DMA = 34

TIF, GS, RVBD, SWI, C, FAS, FCX, JDSU, STI, RCL, BAC, CDE, CRM SINA, SOHU, F, ZION, LVS, LNKD, HUM, GLW, UAL, DE, DHR, IBM, SWK, VMW, V, FB, ZAGG, A, CHL, GRPN, NTES

Moving Above 30 DMA =1

MCP

Moving Below 30 DMA = 10

CRM, JDSU, SOHU, SWI, TIF, VMW

Staying Below 30 DMA

ANR, ATI, CLF, ESI, ICE, INFA, MOS, SLB, TBT, TSLA, ANR, CREE, CRUS, JNPR, URE, COSH, CROX, NKE, TPX, VECO, CSTR, DECK, HLF, UCO, AKS, DLR, SMH, X, WDC CIEN, TSL, GES, FAZ, LDK

Fifteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Down