All nine sectors moved higher on Wednesday… XLE, XLK, and XLF were the strongest sectors. XLU was the weakest sector.
Breadth strengthened on Wednesday as advancers led decliners…10.00 to 1 on the NYSE and 6.54 to 1 on the NASDAQ…
Wednesday – strengthened, advancers led
Monday- strengthened, advancers led
Friday – weakened, decliners led
Thursday – strengthened, decliners led
Wednesday – weakened,
decliners led
Many stocks gave entry
signals on Monday and Wednesday. Now
manage the trades according to your rules
SPY up 3.65 at 146.06...volume 191.9 million
shares…
VIX down -3.34 at 14.68…
TNX up 0.83 at 18.39…
TNX up 0.83 at 18.39…
TLT down -1.62 at 119.56…
XLF up 47 cents at 16.86…volume 70 million shares
XLF up 47 cents at 16.86…volume 70 million shares
AAPL up 16.86 at 549.03…volume
20 million shares …
FB up 1.38 at`28.00…on volume of 69.8 million shares…
__________________
Technical Commentary:
The futures traded
higher Tuesday evening following passage of the tax plan by Congress, the SPY
gapped open and made a new high close at 146.06.
Once again the weight of
the evidence correctly indicates trend direction.
The Euro closed down 13 pips at 1.3182 on Wednesday.
Disk storage stocks WDC +2.24% and STX +5.03% moved higher with the broad market on Wednesday. Coal stocks ANR, ACI, BTU, CNX, JRCC and
WLT were mixed at the close.
The Market Forecast Green Line is pointed up.
____________________
Setups:
Breakout: ADBE, ADSK, BRCM, CERN, CTXS, FB, FOSL, GOOG,
MSFT, NTAP, PCLN, QCOM, SBUX, SNDK
____________________
98 of 100 NDX stocks
closed higher on Wednesday…
Leading NDX 100 stocks included: REGN, ALXN, VIAB, VRSK, DELL, EQIX, FB, EBAY,
STX, WYNN
Lagging NDX stocks included: DLTR, CHRW
Leading stocks> +2% on Wednesday included: MCP, LDK, X, FAS, TPX, RVBD, SWKS, JNPR, VECO, LVS, TRIP, URI, GMCR, UAL, CIEN, YELP, TSLA, C, RCL, SINA, SMH, ATI, SWI, JDSU, FIVE, RAX, FSLR, BAC, AKS, TSL, GS, STI, GLW, URE, SLB, CRUS, XLF, FCX, TIF, ZION, UCO, TBT, IBM, V, CDE, PHM, A, WDC, CHL, CREE, GRPN
Lagging stocks < -2.0% included: FAZ, DECK, UNG, HLF
Stocks to Watch on Thursday…
Holding Above 30 DMA = 69
YHOO, SBUX, CSCO, NTAP, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, MNST, ADBE, GOOG, GRMN, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, AKAM, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, LMCA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, ESRX, EXPE, FB, LINTA, MU, MXIM, MYL, NVDA, PRGO, SRCL, SYMC, VRTX, WFM, WYNN, XRAY
YHOO, SBUX, CSCO, NTAP, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, MNST, ADBE, GOOG, GRMN, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, AKAM, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, LMCA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, ESRX, EXPE, FB, LINTA, MU, MXIM, MYL, NVDA, PRGO, SRCL, SYMC, VRTX, WFM, WYNN, XRAY
Moving Above 30 DMA =20
AAPL, ALXN, AMGN, BIIB,
BMC, CA, CELG, CERN, CTRX, GILD, HSIC, INTU, LIFE, MAT, MDLZ, MSFT, PCLN, QCOM,
REGN, VOD
Moving Below 30 DMA = 1
DLTR
Staying Below 30 DMA
ORLY, PAYX, SPLS, BBBY, ISRG, ATVI, AVGO, SHLD, GOLD, ROST
Fifteen Week
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
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