All nine sectors moved lower on Wednesday…XLV, XLU, and XLP were
the strongest sectors…XLE was the
weakest sector…
Breadth weakened…decliners
led advancers 3.50
to 1 on the NYSE and 4.24 to 1 on the NASDAQ…
Wednesday – weakened, decliners
led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliner led
Friday – weakened,
decliners led
Thursday – weakened,
mixed
SPY
down 2.30 at 155.11…volume 226.8 million shares
VIX
up 2.55 at 16.51…
TNX
down .15 at 17.04…
TLT
up .81 at 122.79…
XLF
down 34 cents at 18.04…volume 79.3 million shares
AAPL
down 23.44 at 402.80…volume 33.7 million shares
FB
down 30 cents at 26.62…volume 26.4 million shares
Technical Commentary:
DIA – 0.96%, SPY – 1.46%, IWM -1.74% and QQQ -1.95%,...
SPY, DIA and IWM fell below Monday’s low before closing near
Monday’s low. QQQ closed below Monday’s low on weakness in
AAPL. DIA, SPY and QQQ are now in a four-day
bull flag pattern. DIA is above its 30
DMA while SPY, QQQ and IWM are below. The four-day short-term trend is down.
The Euro fell -144 pips and closed at 1.3034. The Euro pulled back to support for
the sixth straight day.
AAPL moved collapsed below support and moved down -23.44 on 33.7 million
shares falling to 398 reaching its short term S&R measuring price target
before bouncing. AAPL continues to be a potential MACD bullish
divergence setup. FB formed a doji
in a potential bull flag setup on volume of 26.4 million shares while closing 8
cents below its 30 DMA.
EPS Gainers – MAT, SNDK
EPS Losers – BAC, EBAY,
Key Earnings this week:
Monday – C, LLTC
Tuesday – KO, CSX, GS,
INTC, JNJ, USB, URI, YHOO
Wednesday – AXP, BAC, EBAY,
MAT, SNDK
Thursday – AMD, CMG, FCX, GOOG,
ISRG, KEY, LDK, MSFT, MS, BTU, PEP, PM, UNP, UNH, VZ
Friday – BHI, GE, KMB, MCD, STT,
STI, SLB, UA
Trade what you see on the chart of your position. The intermediate term trend is up with a bull flag setup. Look for potential entry on Thursday. Traders should lock in profits when targets
are reached. As always look
for re-entry according to your rules.
The Market Forecast Green Line closed below
the upper zone and is pointed down.
____________________
Setups
H Breakout: TSLA, CREE, ADBE, GILD, MNST, SPLK,
BIDU, GRPN, LNKD, RCL
Diagonal Breakout: STX,
GMCR, TPX, COST, CMCSA, LVS, DTV, GOOG, SYMC, AMZN, DELL, XLNX, SWI,
ATVI
Bull Flag: C, SBUX,
TXN, WFM, HD, YELP, UNG,
CMG, SPY, FAS, FB, CSCO, CELG, MSFT, MU, NUAN, NVDA, ORCL, PCLN, ROST, SBUX, SNDK, WDC, WYNN, YHOO, AMGN, FSLR, SSYS, NTES,
AKAM, EBAY, SIRI
Potential Bullish Divergence: GRMN, FFIV, FIVE, ZION, ADSK, ESRX, FAST
Gap Up: SNDK
Gap Down: EBAY
Bear Flag:
Break of Support: BRCM,
AMAT, MYL
Moves
New Highs: ABC, JNJ,
KO,
Gap Up: MAT
Gap Down:
Breakout: NTAP, UAL
Bounce: RCL, BBBY,
UNG, NKE, BIIB, Z, TSLA, INTC
MACD Divergence Bounce:
Bear Flag:
Support Break: AAPL,
SHLD, CTSH, QCOM, ATI
______________________
5 of 100 NDX stocks closed higher on
Wednesday…
Leading NDX 100 stocks included: MAT, BIIB, BBBY, LIFE, INTC
Lagging NDX stocks included:
AVGO, AAPL, GOLD, MU, ALTR, BRCM, LLTC, TXN, ADI, MXIM
Leading stocks > +2% on Wednesday included: FAZ
Lagging stocks < -2.0% included: CRUS, CDE, VECO, ZAGG, FAS, AKS, UCO, BAC,
SWKS, ANR, FCX, NFLX, CIEN, CREE, SLB, ATI
Stocks to Watch on Thursday
Holding Above 30 DMA = 43
VMED, SNDK, STRZA, ADP, GILD,
BIIB, MAT, PAYX, YHOO, AMGN, SBAC, ADBE, CELG, MSFT, SRCL, VRTX, MDLZ, LBTYA,
VIAB, REGN, SBUX, VOD, BBBY, LIFE, NUAN, ROST, WDC, EBAY, MNST, WYNN, NVDA,
CRTX, AMZN, BIDU, PCLN, WFM, DLTR, ISRG, NTAP, COST, FISV, INTC, NWSA
Moving Above 30 DMA = 0
Moving Below 30 DMA = 17
ALXN, AMAT, BMC, CERN, CMCSA, DISCA, DTV, EQIX, FB, HSIC,
KLAC, MU, MXIM, PRGO, STX, TXN, XRAY
Staying Below 30 DMA
AKAM, ATVI, CHRW, CSCO, EXPE,
GRMN, PCAR, QCOM, SHLD, SPLS, VRSK, AVGO, CTSH, MCHP, ORLY, SIRI, ADSK, BRCM,
DELL, SYMC, XLNX, FAST, GOLD, ESRX, GOOG, INTU, ALTR, CA LLTC, SIAL, ADI, AAPL,
LINTA, MYL, ORCL, CTXS, FOSL, CHKP, FFIV, EXPD
Twenty One Week Intermediate Term Market Trend: Up
Short Term Market Trend: Down
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