Wednesday, April 17, 2013

Stocks Fall to Monday's Low...Euro Pulls Back...AAPL Breaks Support...GOOG Reports on Thursday...


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 155.11volume 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 18.04volume 79.3 million shares                 

AAPL down 23.44 at 402.80volume 33.7 million shares
FB down 30 cents at 26.62volume 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:
MondayC, LLTC
TuesdayKO, CSX, GS, INTC, JNJ, USB, URI, YHOO
WednesdayAXP, 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 reachedAs always look for re-entry according to your rules.


The Market Forecast Green Line closed below the upper zone and is pointed down.

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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

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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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