Four out of nine sectors moved higher on Wednesday… and one remained the same… XLB, XLF and XLV were the strongest sectors …XLP was the weakest sector….
Breadth weakened however advancers still led decliners…1.25 to 1 on the NYSE and
1.21 to
1 on the NASDAQ…
Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened slightly, advancers led
Friday – strengthened, advancers led
Thursday – weakened, advancers led
SPY up 21 cents at 154.50...volume 94.4 million
shares…
VIX up .05 at 13.53
TNX up .44 at 19.38…
TNX up .44 at 19.38…
TLT down 1.07 at 116.86…
XLF up 12 cents at 18.06 volume 56 million shares
XLF up 12 cents at 18.06 volume 56 million shares
AAPL down -5.48 at 425.66…volume 16.4 million shares…
FB down 7 cents at`27.45…on volume on 33.5
million shares…
Technical Commentary:
Stock futures moved higher overnight but traded in a
range on Wednesday and the DJIA closed at a new all-time high. GOOG, CERN and AMZN paused in
their uptrends. EBAY below its 30 DMA
gave a bear flag entry.
DIA +0.35%, IWM +0.26%, SPY +0.14%, and QQQ -0.25%, were
mixed. DIA and SPY moved to a New
High Close, IWM moved within 12 cents of its all-time high and QQQ
pulled back on weakness in AAPL.
AAPL -5.48 gave
back half of Tuesday’s gains. FB slipped 7 cents.
The Euro fell 85 pips and closed at 1.2965 on Wednesday in its multi-month 1.29 support
area.
Trade what you see on the
chart of your position. The trend is in consolidation and
traders should lock in profits when targets are reached. As always look for
re-entry according to your rules.
The SPY’s
trend inched higher. XLB shifted
neutral and XLE, XLI continued neutral. with XLP,
XLU, XLV, XLY and XLK are positive. XLF broke out and has
shifted from neutral to positive.
The Market
Forecast Green Line is pointed up and is nearing the upper reversal zone.
____________________
Setups
Breakout: WDC, URI, BMC, TRIP, MON, RF, ANGI, MDRX, TSCO, CRR,
CBOE, MWV, ATVI, TW, CLB, CBG
Diagonal Breakout: MCHP,
FAST, P, CSTR, BBRY, GME, SINA,
Bull Flag: QCOM, CHKP, MNST, STZ, PM, JDSU, GES,
AVX, SPLK
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag: DE, ULTA, LVS, CTL, RAX, PPO, AVGO, ROST, STX, DNDN, A,
LIFE, GRMN, DDS, MOS, AGU, CORN, DE, CCL, STI, EXPD, WFM
Break of Support: HSP, OC
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: TIPX, PAY, CREE, ASNA
Gap Down: AEO, TFM, SPLS, HRS
Breakout: STRZA, Z, JPM, CTSH, ORCL, NDSN, VECO, FIVE, HPQ,TXN, ILMN, AIZ, ORLY, TPX,
CBS, ICE, VMI, CTXS, WHR, AWAY, AMGN, MBI, LNKD, PBI, YELP, AL, SLM, COG,
HES, DECK, CRM,
Bounce: BBRY, CLR, AVP, MJN, SPWR,
JRCC, ANR, ACI, WLT, BTU, CNW, MTW,
SHLD, NTES, EQIX, TEX, IM, FTNT, AOL, KORS, ADM, ZION, PCLN, IBM, PRGO, GNC,
ZNGA, NFLX, HLF, BPOP, FAST, PTEN, XRX, FTI, PMCS
MACD Divergence Bounce: EQIX, BBRY, FB, STX
Bear Flag: CORN, RCL, GRPN, DDD, NBR, MGM, POT, SLB, SWKS, AKAM
Support Break: IPI, CNX, TFM,
FFIV, CLF, INT, JCP
____________________
49 of 100 NDX stocks
closed higher on Wednesday…
Leading NDX 100 stocks included: GOLD, VRTX,
ALXN, CSCO, STX, STRZA, DELL, ADSK, CELG, PRGO, SYMC, BBBY, VOD, NTAP
Lagging NDX stocks included: SPLS, EBAY, LIFE,
DISCA, BIDU, QCOM, CERN, EXPE, AAPL, CTRX, FOSL, EXPD, DLTR
Leading stocks> +2% on Wednesday included: ANR, MCP, AKS, BBRY, CDE, FCX, X, CLF, ATI, BAC, CREE, CROX, TSLA,
LVS, LDK, ZION, RVBD, C, VECO
Lagging stocks < -2.0% included: SOHU,
GRPN, SINA, CRUS
Stocks to Watch on Thursday…
Holding Above 30 DMA = 71
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, WDC, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, COST, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, EXPE, MXIM, PCAR, ROST, VOD, EQIX
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, WDC, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, COST, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, EXPE, MXIM, PCAR, ROST, VOD, EQIX
Moving Above 30 DMA =5
ALXN, AVGO, BBBY, XLNX, XRAY
Moving Below 30 DMA = 5
FOXL,
KLAC LIFE, LINTA, SPLS
Staying Below 30 DMA
BRCM, ISRG,
SHLD, EBAY, FFIV, NTAP, XRAY, AVGO, BBBY, GRMN, WYNN,
STX, WFM, EXPD, DTV, NUAN, AKAM, GOLD, CHRW, BIDU, ALXN, FB, AAPL
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
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