Eight of nine sectors moved higher on Wednesday…XLP, XLU, and XLF were
the strongest sectors…XLE was the
weakest sector.
Breadth weakened slightly…advancers led decliners 1.20 to 1 on the NYSE and 1.28 to 1 on
the NASDAQ…
Wednesday
– weakened, advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
SPY
up .89 at 166.12…volume 120.7 million shares
VIX
up .04 at 12.81…
TNX
down .09 at 19.43…
TLT
up .78 at
117.34...
XLF
up .18 at 19.84…volume 47.1 million shares
AAPL
down 15.01 at 428.85…volume 26.4 million shares
FB
down .47 at 26.60…volume 30.2 million shares
Technical Commentary:
SPY + .54%, DIA + 0.43%, IWM + .20% and
QQQ + 0.20%.
After rising the four broad ETFs
pulled back on profit taking after the SPY and DIA reached their S&R measuring distance price targets and then
rallied during the last hour of the trading day make another a new high
close. The financial sector XLF moved
to a new high while the consumer staples sector XLP also made a new high
close.
SPY reached
its S&R measuring price target of 165.87.
DIA reached
its S&R measuring price target of 152.80.
QQQ stayed just
above its S&R measuring price target of 73.46.
IWM stayed
just above its 161 Fib breakout target of 97.90.
QQQ trailed
the other ETFs on Wednesday lagging due to continued weakness in AAPL -15.01 which
continues to form a bull flag pattern following its 80 point rise from April 19
to May 7.
GOOG, NFLX and YHOO
made new highs on Wednesday. A gapped up
after earnings and JCP reports earnings on Thursday. TSLA formed a spinning top
after pulling back on Tuesday and Wednesday to a higher low.
The Euro moved down 43 pips to 1.2888
and the dollar rose. TNX interest
rates were down slightly and TLT bonds rose.
It’s time to move stops up to protect profits as traders stay with the trend.
Trade what you see on the chart of your position. The intermediate term trend is up with a horizontal resistance breakout setup. Traders should lock in profits when targets
are reached. As always look
for re-entry according to your rules.
Chart Signals Strategy Guidelines
Technical setups for
short-term option trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles, strangles, OTM calls
or puts.
After earnings look for
bullish setups in positive reaction stocks and bearish setups in negative
reaction stocks.
EPS Reaction Summary
EPS Gainers – A, MCP, WCRX, NVDA, PCLN, GMCR, GRPN, TSLA,
EA, DVA, WFM, CTSH, DTV, LBTYA, AIG, ADP, CBOE, REGN, FB, BZH,
EXPD, GM, MDC, STX, V, YELP, ICE, JRCC, VIAB, CMCSA, DDD, AVP,
HLF, CERN, CVX, DHI, TWC, ANGI, AKAM, ALXN, ALTR, BIIB, COG, CLF,
CROX, DOW, ESI, FFIV, HOG, LRCX, LVS, MO, PHM, RCL, SIAL, XLNX, BA, BRCM,
GLW, HES, DAL, COH, DD, NFLX, ILMN, VECO, LCC, RF, ZION, TRV, LMT, CAT,
cCHKP, HAL, HAS, CMG, GOOG, KMB, STI, MSFT, BTU, PEP, UNP, VZ, MAT, AXP, JNJ,
INTC, KO, C, APOL
EPS Losers – DISH,
XRAY, ATVI, RAX, MNST, Z, LNKD, TPX, ZAGG, CTRX,
GRMN, MRK, SWI, AMZN, BIDU, CRUS, DECK, EXPE, HSY, KLAC, MXIM, QCOM,
PTEN, ABC, MMM, AMGN, T, JNPR, PNRA, VMW, GE, IBM, ISRG, MCD, MS,
PM, UNH, SNDK, EBAY, BAC, USB, GS, LLTC
The Market Forecast Green Line is
in the Upper Zone.
____________________
Setups
H Breakout: ATVI, BIDU,
MNST, ORCL, QCOM, ROST, SYMC, ANGI, TPX,
Diagonal Breakout: FFIV,
Bull Flag: AAPL, AMGN, AMZN, BBBY, CELG, CSCO, DELL, ESRX, FB,
GRMN, WYNN, ATI, CLF, CNX, JNPR, LVS, TSLA, WLT,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: NUAN, ANR,
BBRY,
Moves
New Highs: AKAM, BRCM, CMCSA, COST, DTV, FAST, NVDA, PCLN,
SBUX, SHLD, YHOO, BAC, C, FAS, GMCR, NFLX, NTES, RCL, SSYS, STI,
Gap Up: GOOG, SIRI,
Gap Down: GLD,
H&D Breakout: GILD,
MAT, MNST, MSFT, MU, SNDK, WDC, WFM, XLNX, GLW, UAL,
Bounce: ADBE, CTSH, INTC,
TXN, CREE,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
70 of 100 NDX stocks closed higher
on Wednesday…
Leading NDX 100 stocks included:
CTSH, GOOG, YHOO, INTU, MNST, AKAM, ADBE, SIRI, DLTR, MU, PCLN, SHLD,
SIAL, NVDA, COST
Lagging NDX stocks included:
GOLD, AAPL, REGN, ALXN, VRTX, FB, WYNN, ATVI, BIIB, NUAN, CTXS, LBTYA
Leading stocks > +2% on Wednesday included: TSL, NFLX, A, UAL LDK, F, C, FAS
Lagging stocks < -2.0% included: SOHU, CLF, DE, MCP, CDE, YELP, DECK, FAZ,
X, CRUS, ANR
Stocks to Watch on Thursday
Holding Above 30 DMA= 86
ADP, GILD, BIIB, MAT, PAYX, YHOO,
SBAC, MSFT, SRCL ,REGN, VOD, BBBY, LIFE, ROST, WYNN, DLTR, INTC, DTV, NWSA,
SBUX, VRTX, WFM, COST, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, TXN, BMC,
BRCM, CA, ALXN, ESRX, ORLY, PCAR, XLNX, CERN, CMCSA, AAPL, FOSL, KLAC, LINTA,
MCHP, XRAY, VRSK, CHKP, ORCL, SHLD, VIAB, EQIX, VMED, LBTYA, CELG, EXPD, GRMN,
LLTC, MYL, PCLN, ADI, ADSK, MU, NTAP, SPLS, ALTR, BIDU, HSIC, FISV, SNDK, AVGO,
EBAY, FFIV, AMZN, ATVI, CSCO, FAST, QCOM, PRGO, AMGN, EXPE, MNST, SYMC, MDLZ
Moving Above 30 DMA = 3
ADBE, DISCA, STRZA
Moving Below 30 DMA = 2
MXIM, FB
Staying Below 30 DMA
GOLD, ISRG, CHRW, CTRX, NUAN,
CTSH, DELL, INTU, CTXS
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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