SPY Pauses...IWM Moves Lower...QCOM, CTXS, SWKS, JDSU Move Higher In After Hours...

Only one sector moved higher on Wednesday… XLU, XLY and XLP were the strongest sectors.   XLI was the weakest sector. 

Breadth weakened as decliners led advancers…1.97 to 1 on the NYSE and 2.28 to 1 on the NASDAQ…

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – weakened, decliners led on NYSE and advancers led on NASDAQ

Friday – strengthened, advancers led

Thursday – strengthened, advancers led

Wednesday – weakened, decliners led

The chart continues to indicate that the uptrend is more likely to continue, stay prepared for a potential pullback.

SPY down 59 cents at 150.07...volume 137.4 million shares…

VIX up 1.01 at 14.32…
TNX up .18 at 20.06…

TLT down 20 cents at 116.75…
XLF down 8 cents at 17.39…volume 32.3 million shares

AAPL down 1.44 at 458.27…volume 14.8 million shares…

FB up 45 cents at`31.24…on volume of 87.6 million shares…

Look for stocks with good earnings and guidance to likely rise and those with either weak earnings or guidance likely to fall in price. 

Earnings to Watch this Week:

Monday – BMC, CAT, STLD, VMW, YHOO, ZION, STX

Tuesday – AKS, AMZN, BRCM, DHR, GLW, HOG, IP, BTU

Wednesday – BA, CTXS, EA, JDSU, QCOM, SWKS

Thursday – AET, MO, CTRP, MA, PCAR, POT, PHM, UA, VIAB, WHR

Friday – CVX, XOM, MAT, MRK, PRGO

AMZN gained 12.41 following Tuesday’s earnings release.  QCOM + 6.23%, CTXS

+ 11.12%, SWKS + 12.24% and JDSU + 14.84% in after hours trading following earnings on Wednesday. FB - 3.43% in after hours trading.

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Technical Commentary:

The SPY formed a potential bearish harami closing down 59 cents. SPY  - .39%.  IWM

– 1.20%, QQQ – 0.21% and DIA – 0.34%, and AAPL shares moved down – 1.44 forming a doji.  FB closed higher before moving lower after the close on better than expected earnings.

The Euro was up 75 pips to close at 1.3565 on Wednesday in its strong uptrend.

Trade what you see on the chart of your position. Stay with the uptrend according to your rules.  If the stock begins to rollover protect your profits.

Disk storage stocks fell, WDC + 1.60% and STX -0.06% were mixed.

Coal stocks ANR, ACI, CNX, BTU, WLT, and JRCC moved lower.

The Market Forecast Green Line is in the upper reversal zone. 

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Setups

Breakout:  VIAB, COST, ADI, CERN

Diagonal Breakout:  BAC, SBAC

Bull Flag: MOS, MON, C, MGM, STI, CRM, FFIV, RSH, AVX, ZNGA, NIHD, XRX, TEX, SHLD, ESI, GMCR, TEP, SINA, SWK, JNPR

Gap Up:  QCOM, CTXS, JDSU, SWKS

Gap Down:   FB

Moves

Gap Up:  FSL, MAN, AVY, QGEN, CHK, HES

Gap Down: 

Breakout:  ZION, CLF, FAST, FIVE, TIF, GS

 

Bounce:  AMZN, LIFE, BPOP, NUAN, STRZA, UNG,

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40 of 100 NDX stocks closed higher on Wednesday and one was unchanged…

Leading NDX 100 stocks included:  AMZN, LIFE, YHOO, MNST, NTAP, WDC, FB, AVGO, VIAB, DELL

Lagging NDX stocks included:  VRTX, CTXS, FOSL, CERN, SHLD, DLTR, STRZA, DTV, ADBE, AMGN, GRMN

Leading stocks> +2% on Wednesday included: ZION, GMCR

Lagging stocks < -2.0% included:  RIMM, LDK, ANR, JDSU, ESI, HLF, CIEN, X, CSTR, CROX, SSYS, MCP, DECK, GES, ZAGG

Stocks to Watch on Thursday…

Holding Above 30 DMA = 87
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, ADSK, DELL, FFIV, ORCL, COST, ADBE, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU,  SRCL, SYMC, VRTX, WYNN, FB, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, BMC, AVGO, ATVI, SHLD, YHOO, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, VOD, DLTR, ISRG, GOOG, ORLY, AKAM, BBBY, FISV, BIIB                                                             

Moving Above 30 DMA = 4

AMGN, INTC, MAT, PAYX

               

Moving Below 30 DMA = 6

 AKAM, AMZN, BMC, BRCM, NVDA, YHOO                                                                                                                                          

Staying Below 30 DMA

ALTR, ALXN, ESTX, PRGO, REGN, GRMN, MNST, AAPL, GOLD

Nine Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up