All nine
sectors moved lower on Wednesday… XLB, XLK, and XLI were the strongest sectors.
Breadth weakened on Wednesday as decliners led advancers …1.01 to 1 on the NYSE and advancers led decliners 1.02 to 1 on the NASDAQ…
Tuesday – strengthened, advancers led
Monday – strengthened, advancers led
Friday – strengthened, decliners led
Thursday – weakened, decliners led
NDX 100 annual
changes prior to the open Monday, Dec. 24, 2012:
Additions: ADI, CTRX, DISCA, EQIX, LBTYA, LMCA, REGN,
SBAC, VRSK, WDC
Deletions: APOL, EA, FLEX, GMCR, LRCX, MRVL, NFLX,
RIMM, VRSN, WCRX
A bearish candle day is a typical time for moving stops on short term trades to protect profits.
SPY down -1.08 at 144.27...volume 150.8 million shares…
VIX +1.79 at 17.36…
TNX -0.27 at 18.00…
TNX -0.27 at 18.00…
TLT up 40 cents at 120.91…
XLF down 10 cents at 16.47…volume 73.7 million shares
XLF down 10 cents at 16.47…volume 73.7 million shares
AAPL down -7.59 at 526.31…volume 16
million shares …
FB down 30 cents at`27.41…on volume of 61.4 million
shares…
__________________
Technical
Commentary:
Bearish candles appeared on many charts including SPY, DIA, QQQ, FAS, the Euro, AAPL, AMZN and PCLN to list just a few. Many charts also continued to rise as advancers and decliners were near even on Wednesday. This is an indication that many use to move stops up on short-term trades.
The SPY
formed a dark cloud cover which could be either a breakout test or day one of a
new bull flag. SPY closed below T1 at 144.29 and still maintains a flagpole target
at 146.82. The VIX closed higher
and did confirm the SPY
move down today.
The ES closed down
7.75 at 1,432.75 and NQ futures closed down 10.25 at 2,692.75 as AAPL pulled back. Trading
has shifted to the H3, March contract.
While
Wednesday’s price action could be the first day of a new flag pullback, the weight
of the evidence continues to suggest that the current 4+ week uptrend is likely to continue.
The Euro rose another hundred pips before reversing intra-day and
forming a tombstone doji. The Euro
closed down 4 pips at 1.3225 on Wednesday. TNX dropped, TLT, bonds rose 40 cents and XLF moved down 10 cents to 16.47.
WDC, VRSN, ORCL, STX and FSLR were among
SPX and NDX leaders on Wednesday.
Digital disk storage
stocks STX and
WDC had big gains again today.
Coal stocks ANR, ACI, BTU, CNX and WLT pulled back on Wednesday.
SPY – dark cloud
cover, flag pull back
AAPL – bearish
harami, MACD divergence, below 30 DMA
FB – black spinning
top in channel, BO target 29.63
FAS – dark cloud
cover, breakout test, flag pull back
AMZN – dark cloud
cover, breakout test, flag pull back
EXPE – dark cloud
cover, pause at resistance at T1
STX – gap white
candle, breakout
VIAB – black candle,
bull flag bounce pause
RIMM – spinning top,
bull flag setup, EPS Dec 20
CRUS – spinning top,
potential evening star, bear flag setup
F – gap black
spinning top, above T1
PHM – black
spinning top, breakout test
SWK – bearish
harami, breakout test
SWI – black
spinning top at 30 DMA, bounce setup
RAX – bearish
harami, breakout test
URI – doji, breakout
test
YELP – bullish
harami at support, close below 30 DMA
XHB – black
spinning top, diagonal breakout test
XRT – tombstone doji at
resistance, above30 DMA
BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT =
intermediate term, ST = short term
The Market Forecast Green Line is in the upper reversal zone.
____________________
Chart Targets:
SPY = 146.82 short-term resistance flagpole target
ES = 1,449 161% Fib extension
ES = 1,449 161% Fib extension
1,459 = 200% measuring
EUR/USD = 1.3281 161% Fib
extension
Short-term support at
1.3126 = Euro
1.3126 = Euro
144.55 = SPY
90.09 = SPXL
1,428, 1,405 = ES
2,691 = NQ
1,428, 1,405 = ES
2,691 = NQ
Setups:
Bull Flag: MCP, AMGN, CELG, MNST, MXIM, DELL, DECK
Moves:
Bull Flag Bounce: AMAT,
Bounce Continuation: WDC, STX, DLR, VMW, ALTR, TRIP, EXPD, STI, NTAP,
MRVL, XLNX, URI, TSLA, SMH, ADI
Pause:
VECO,
C, X, AKS,EBAY, FB, SNDK, BRCM,
VIAB, PCAR,
LLTC, BIIB, SIAL, SWK, GLW, SBUX,
SPY, DIA, IWM, FAS, AMZN, BAC, V, LNKD, GILD, GRMN, COST, XRAY, URE, IBM, DISCA
____________________
27 of 100 NDX
stocks closed higher and
one unchanged on Wednesday…
Leading NDX 100 stocks included: GMCR,
FFIV, APOL, STX, AKAM, VRTX, MRVL, FB, LIFE, FOSL
Lagging NDX stocks included: VRSN, ORCL, STX, BIDU, GMCR, MU, ADBE, AMAT, ALTR, CHKP
Leading stocks > +2% on Wednesday included: LDK, TSL, NTES, WDC, UCO, SSYS, YELP
Lagging stocks < -2.0% included: HLF, DECK, ANR, ESI, GRPN, CROX, ANF
Stocks to
Watch on Thursday…
Holding Above 30 DMA = 83
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, GILD, FB, CSCO, NTAP GMCR, VMED, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, BBBY, ESRX, EXPE, INTC, SPLS, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX, CA, LINTA, MSFT, ORLY, QCOM, WFM
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, GILD, FB, CSCO, NTAP GMCR, VMED, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, BBBY, ESRX, EXPE, INTC, SPLS, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX, CA, LINTA, MSFT, ORLY, QCOM, WFM
Moving Above
30 DMA = 0
Moving Below 30
DMA = 3
DLTR, ISRG, SRCL
Staying Below 30 DMA
ATVI, VOD, AVGO, PCLN, AAPL,
SHLD, GOLD, PRGO, VRSN, ROST
Fifteen Week
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
No comments:
Post a Comment