Breadth Weakness Leads To Pull Back...AAPL, FB, Rally...

None of the sectors moved higher on Wednesday…XLU, XLV and XLI were the strongest sectors …XLE was the weakest sector…. 

Breadth weakened…decliners led advancers…3.63 to 1 on the NYSE and 3.25 to 1 on the NASDAQ…

Wednesday – weakened – decliners led

Tuesday – strengthened – decliners led

Monday – weakened, decliners led

Thursday – strengthened, advancers led

Wednesday – weakened, advancers led NYSE

SPY down 1.59  at 155.23...volume 154.1 million shares…

VIX up 1.43 at 14.21…
TNX down .49 at 18.12…

TLT up 1.06 at 118.97…
XLF down 30 cents at 17.93 volume 88.6 million shares

AAPL up 2.20 at 431.99…volume 12.9 million shares…

FB up 83 cents at`26.25… volume 48.1 million shares…

Technical Commentary:

QQQ - .91% led DIA- 0.77%, SPY – 1.01% and IWM -1.57% all moved below Tuesdays low on Wednesday.  Weakness in IWM, XLB and XLE along with decliners leading in breadth which were signs of the narrowness of Tuesday’s rally preceded Wednesday’s pullback. 

AAPL up 2.20 confirmed Tuesday’s inverted hammer. FB up 83 cents bounced on increasing volume.  FB is still a setup for a potential C Pattern Entry after a support bounce. 

The Euro was up 19 pips and closed at 1.2841 on Wednesday. 

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 formed a large black candle as TNX fell and TLT Bonds broke out to a new short term high.

The Market Forecast Green Line is in the upper zone. 

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Setups

Breakout:  SBUX, WDC, AOL, CTL, AKAM, CHTR

Diagonal Breakout: NFLX, CLB, GNC, A, CPRT, DDS,

Bull Flag: TSLA, MAT, DDD, DISH, DISCA, SPLK, SLM, COG, CBS, CIE, SNDK, SHLD, VIAB, Z, NUS, MTW,  MWV, NAV, MBI, CIEN, ZION, DWA, PLCM, APOL, NKE, AWAY, MDRX, WPO, PBI, TFM, DECK, CBI, MU,

Potential Bullish Divergence: JCP, MCP, IPI

Gap Down:  

Bear Flag:  CLF, FDS, FFIV, KLAC, RCL, CCL, ULTA, FB

Break of Support:  ANR, KORS, DE, BTU

Moves

Highlights: NFLX, NTES, TPX, CREE, SSYS, ANGI, Z, BBRY

Gap Up:  GPN, TSLA, EBAY, BIIB, WSM, WAG

Gap Down: DAL, NDAQ, PVH

Breakout:  ALXN, CMCSA, CELG, MSFT, HLF, GNC, ILMN, ADBE, HRS, CMP, EBAY, MON, GILD, LBTYA, RMD, HRB, BBRY, NUAN, OGE,

 

Bounce: ZNGA, GOOG, DECK, GES, BBRY, IBM, SBUX

MACD Divergence Bounce:  SINA, CCL, FB, SLB

Bear Flag: CTSH, CTXS, ORCL, FDS, RCL, CCL

Support Break: JOY, A, FTNT, RAX, AGU, IPI, WLT, CORN, MCP, EXPD, JDSU, JRCC

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7 of 100 NDX stocks closed higher on Wednesday…

Leading NDX 100 stocks included:  FB, ISRG, WDC, EXPD, FFIV, VIAB, AAPL

Lagging NDX stocks included:  VOD, GOLD, PCAR, LLTC, ALTR, XLNX, ADSK, STRZA, ADI, FAST, BIDU, VRTX

Leading stocks> +2% on Wednesday included: FAZ, ANR, CLF, HLF

Lagging stocks < -2.0% included:  TSLA, GMCR, CREE, CDE, UCO, FAS, TPX, CRUS, NFLX, CRM, C, ATI, SSYS LNKD, ICE, BAC, F, NTES

Stocks to Watch on Thursday…

Holding Above 30 DMA = 53
VMED, NWSA, SNDK, STRZA, ADP, DELL, SYMC, GILD, HSIC, CERN, BIIB, MAT, PAYX, PRGO, YHOO, DLTR, AMGN, DISCA, MU, SBAC, ADBE, CELG, FISV, LBTYA, MDLZ, MSFT, SRCL, VRSK, VRTX, REGN, VIAB, ADSK, SBUX, BMC, PCAR, VOD, ALXN,  BBBY, SHLD, DTV, LIFE, STX, WYNN, COST, CMCSA, NUAN, ROST, ATVI, CHRW, QCOM, WDC, EBAY, CSCO, NTAP, ORLY                                                                                                                            

Moving Above 30 DMA =0                                                                                                                                                                                                                                  

Moving Below 30 DMA = 10

ADSK, AVGO, ESRX, GOOG, INTC, INTU, PCAR, PCLN, TXN, CTRX

                                                                                                                                                                                                                                                                                                                                                                                                                                                   

Staying Below 30 DMA

GOLD, MXIM, XRAY, EQIX, ALTR, AMAT, AMZN, BRCM, CA, LLTC, MCHP, NVDA, SIAL, SPLS, WFM, XLNX, ADI, AAPL, LINTA, FAST, MNST, MYL, ORCL, CTSH, CTXS, EXPE, FOSL, SIRI, CHKP, KLAC, ISRG, FFIV, GRMN, EXPD, AKAM, BIDU, FB

Ten Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral