All nine sectors moved higher on Wednesday…XLY, XLP and XLV were the strongest sectors …XLI was the weakest
sector….
Breadth strengthened…advancers led decliners…2.98 to 1 on the NYSE and 2.14 to 1 on the NASDAQ…
Wednesday – strengthened, advancers led
Tuesday – strengthened, decliners led
Monday – weakened, decliner led
Friday – weakened, decliners led
Thursday – strengthened, advancers led
SPY up 1.08 at 155.69...volume 113.7 million
shares…
VIX down 1.72 at 12.67…
TNX up .29 at 19.37…
TNX up .29 at 19.37…
TLT down 1.31 at 116.12…
XLF up 12 cents at 18.29 volume 62.9 million shares
XLF up 12 cents at 18.29 volume 62.9 million shares
AAPL down 2.41 at 452.08…volume 11 million shares…
FB down 69 cents at`25.86…volume 44 million
shares…
Technical Commentary:
Many Bull Flag setups
gave fresh entry signals on Wednesday.
DIA +0.35%, QQQ +0.70%, SPY +0.70% and IWM +0.93%, bounced higher moving back
towards recent highs…
AAPL -2.41 closed above its 30 dma for the third
straight day. The 30 dma which is at the same level of Monday’s S1 appears to
be acting as an area of short term support. FB - 69 cents closed at Monday’s
support low and its Fib 50% retracement level from its Nov 12th low…
is still a setup for a potential C
Pattern Entry after a support bounce.
The Euro was up 78 pips and closed at 1.2943 on Wednesday. Banks in Cyprus are closed until next Tuesday
leaving time for alternate bailout plan.
Trade what you see on the
chart of your position. The trend is up
and traders should lock in profits when targets are
reached. As always look for re-entry according to your rules.
The SPY moved
higher and remained higher after the FOMC maintained its accommodative posture. Bernanke indicated that current stock price
levels were not a concern. TNX rose while TLT bonds moved lower.
.
The Market
Forecast Green Line is in the
upper reversal zone.
____________________
Setups
Breakout: SLM, AL, ANR, MGM, ADM, AVX, IM, NAV
Diagonal Breakout: BTU,
EXPD, JRCC, HLF, GNC
Bull Flag: ABC, AVGO, CTSH, GILD, INTU, VIAB, WDC, YHOO, MBI, CRM, CIEN, JDSU, ZION, ILMN, ZNGA, DWA,
VMW, NFLX, URI, CSTR, VECO,HRB, PMCS, MON, LNKD, CNP, FTNT, SPLK, OGE,
Potential Bullish
Divergence: FB, SLB, GES, ROST, CCL, IPI,
SINA, RHT
Bear Flag: DSW, QCOM,
ULTA, EBAY, CPRT, MJN, DKS, JCP, DDS, HSP
Break of Support:
JOY, A, FL, GRMN, AGU, EXPD, FB, DNDN, HRS, AOL,
IPI, SINA, AKAM, RCL
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: WSM, CIE,
GTI, PLCM, WAG
Gap Down: CAH, FDS,
Breakout: NUAN, CMCSA,
FAST, DECK, SPWR, BDM, CBOE, CLB, Z, TPX, COG, TEX, CORN, UNG, MTW, CBS, PTEN, CRR, MDRX, WPO, HES,
CNW, SNDK, PBI, PRGO, STRZA, DE, CBG, SHLD, CHK, MWV, MOS, TRIP
Bounce: DISH, DISCA,
DLTR, GOOG, ICE, LBTYA, MAT, SBUX, TXN, VRTX, ILMN, URI, IBM, BBRY, FTI, NTES, AMGN, NVR, CHTR, ALXN, XRX, MSFT, ANGI, BBRY, P, AVP,
MACD Divergence
Bounce: EBAY
Bear Flag: TFM, KORS,
DDS, RAX, BTU, MCP, CTL
Support Break:
KLAC, DDD, CCL, WLT, CLF, FFIV
____________________
91 of 100 NDX stocks
closed higher on Wednesday…and one
stayed the same…
Leading NDX 100 stocks included: NUAN, ADBE,
DLTR, STRZA, ADSK, CTRX, LBTYA, ISRG, LIFE, EBAY, MNST, BBBY, AKAM, BIDU, CMCSA
Lagging NDX stocks included: FB, VOD, EXPD,
CHRW, AAPL, GRMN, YHOO
Leading stocks> +2% on Wednesday included: BBRY, TSL, SINA, DECK, LVS, SSYS, GLW, NTES, CREE, SOHU, TSLA, UAL, V
Lagging stocks < -2.0% included: DE
Stocks to Watch on Thursday…
Holding Above 30 DMA = 65
VMED, LLTC, DELL, NWSA, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, FISV, INTU, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, PCLN, REGN, VIAB, ADSK, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, SHLD, COST, WDC, BRCM, DTV, LIFE, STX, SPLS, CHRW, WYNN, AAPL, COST, LINTA, MNST
VMED, LLTC, DELL, NWSA, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, FISV, INTU, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, PCLN, REGN, VIAB, ADSK, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, SHLD, COST, WDC, BRCM, DTV, LIFE, STX, SPLS, CHRW, WYNN, AAPL, COST, LINTA, MNST
Moving Above 30 DMA = 8
CMCSA, FAST, INTC, MCHP, NUAN, NVDA,
XRAY, ADI
Moving Below 30 DMA = 0
Staying Below 30 DMA
CTSH,
CTXS, EXPE, FOSL, PCLN, ALTR, AMAT, LLTC, QCOM, AMZN, SIRI, CTRX, EQIX, CHKP,
ROST, KLAC, ISRG, EBAY, FFIV, NTAP, GRMN, WFM, EXPD, AKAM, GOLD, BIDU, FB
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Neutral
1 comment:
Dave: Thanks so much for this blog and your work.
Robert
CANI_212
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