GMCR + 27%, Reports Better Than Expected EPS...COST + 6%...Better Than Expected Sales, Declares $7 Special Dividend...

All nine sectors moved higher on Wednesday… XLY, XLP, and XLE were the strongest sectors. 

Breadth strengthened on Wednesday as advancers led decliners …2.25 to 1 on the NYSE and strengthened 1.59 to 1 on the NASDAQ…

SPY up 1.13 at 141.46...volume 177 million shares…

VIX down .41 at 15.51…
TNX down .28 at 16.17…

TLT down .18 cents at 125.11…
XLF up .06 cents at 15.70…volume 47.5 million shares

AAPL down 1.84 at 582.94…volume 18.6 million shares …

FB up .21 cents at`26.36…on volume of 49.1 million shares…

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Technical Commentary:

The SPY closed above its 30 dma. the VIX moved down and did confirm the SPY move up.

The ES closed up 9.25  at 1,406.75…NQ futures closed up 20.00 at 2,661.75.

The weight of the evidence continues to suggest the Nov 16 low is likely to hold and Wednesday’s support bounce suggests continuation to higher levels.

The Euro closed up 14 pips at 1.2957 on Tuesday.

TNX, interest rates moved lower and TLT, bonds moved down 18 cents.  XLF was up .06 cents to 15.70.

SPY –  14 day high close, closed above 30 dma

AAPL – closes above S1 and 30 dma

FB – new high close, BO continuation

FAS – piercing line, bull flag 

AMZN – large white candle, BO continuation

EXPE – white candle, BO above 61.24

STX –  spinning top, new low

VIAB – white candle, DBO continuation

RIMM – piercing line, bull flag

CRUS – white candle, flag bounce

F – white candle, bounce continuation

PHM – potential hanging man, above 30 dma

SWK – large white candle, bound above 30 dma

SWI – large white candle

RAX – huge white candle, bounce above 30 dma

URI – large white candle, bounce above 30 dma

YELP – doji, BO continuation, bounce above 30 dma

XHB –  potential hanging man, bounce above 30 dma

XRT – huge white candle, bounce above 30 dma

BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT = intermediate term

The Market Forecast Green Line is pointed up above the lower reversal zone.

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Chart Targets:

SPY = 141.68, 143.52 short-term resistance
ES =  1,414…1,425  fib extension

EUR/USD = 1.3020 short-term resistance

Short-term support at
1.2930, 1.2833 = Euro

139.57 = SPY

83.20 = SPXL
1,386.50 = ES
2,596 = NQ

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86 of 100 NDX stocks closed higher on Wednesday…

Leading NDX 100 stocks included: GMCR, COST, AKAM, ADSK, RIMM, PCLN, WYNN, MRVL, FOSL, ALTR, AMAT, SBUX, ALXN, PCAR, GRMN

Lagging NDX stocks included: SHLD, MNST, VRTX, NFLX, STX, CSCO, DELL, SRCL, INFY, AAPL

Leading stocks > +2% on Wednesday included:  TSL, GRPN, LDK, DECK, VECO, AKS, GES, COH, JDSU, JNPR, VMW, TSLA, SWK, ANF, CDE, X, NKE

Lagging stocks < -2.0% included: HLF, MCP, WDC

Stocks to Watch on Wednesday…

Holding Above 30 DMA
YHOO, MYL, ORLY, CERN, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, SPLS, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, CHKP, EA, EXPD, LLTC, MNIM, PCAR, TXN,  XLNX, AMGN, BIIB, CELG, DLTR, EBAY, LIFE, SIAL, AMZN, BBBY, FISV, ADSK, ALTR, AVGO, CHRW, DELL, FFIV, MAT, MRVL, MU, BRCM, INFY, ORCL, SRCL, AAPL, BMC, COST, KRFT, MNST

Moving Above 30 DMA = 10

ADBE, ALXN, CMCSA, FOSL, GOOG, GRMN, LRCX, NWSA, SYMC, WYNN

Moving Below 30 DMA = 0

Staying Below 30 DMA

ISRG, PAYX, WFM, WYNN, SIRI, LINTA, KLAC, SHLD, FLEX, STX, MSFT, INTU, AMAT, NVDA, MCHP, SNDK, AKAM, PNRA, GOLD, INTC, ADP, FAST, BIDU, CTSH, IAB, GOOG, ESRS, VRXN, ALXN, MNST, APOL, VRTX, WCRX, BMC, VOD, DTV, NUAN, AAPL, CA, CTXS, ROST

Fourteen Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up