Five sectors moved higher on
Wednesday… XLV, XLU and XLK were
the strongest sectors…XLE was the
weakest sector.
Breadth weakened slightly advancers
led decliners…1.15 to
1 on the NYSE and 1.35 to 1 on the NASDAQ…
Wednesday
– weakened slightly, advancers led
Tuesday – strengthened,
advancers led
Monday – strengthened,
advancers led
Friday – strengthened,
advancers led
Thursday – closed 4th
of July
SPY
up .06…volume 120.2 million shares
VIX
down .14 at 14.21…
TNX
up .50 at 26.80…
TLT
down .84 at 106.56...
XLF
down .12 at 20.02…volume 57.7 million shares
AAPL
down 1.63 at 420.73…volume 10 million shares
FB
up .32 at 25.80…volume 26.7 million shares
Technical Commentary:
QQQ + 0.57%, IWM + 0.28%, SPY + 0.04%, DIA
– 0.05%.
NUS gapped up
to an all-time high gaining 12.79 or 19.21% on
volume of 7.5 million. MCP was
also up .98 or 16.07% and today
gained enough to close above a diagonal breakout of one and a half years with
volume of about 17.1 million.
MDRX gapped up
1.35 or 10.10% on volume of 8.9. What is interesting to note is that MDRX had
a horizontal breakout from its October 2012 high. Volume today was 8.9 million.
CTSH closed up
3.14 or 4.72% breaking through the horizontal
resistance of mid-May. ALXN had a
nice bounce today of 4.39 or 4.59% on
1.7 million. FFIV had a diagonal
breakout today and closed up 2.59 or 3.73% on 3.6 million in volume.
XLV was the
strongest sector today and had a horizontal breakout of mid-June high and is
approaching another horizontal breakout of late May. XLK is nearing a diagonal breakout as
is XLB. XLI is at a
horizontal breakout point as is XLF and XLU.
The unofficial start of
earnings season was Monday, July 8 with AA reporting earnings
after the close.
Earnings of Interest
Monday – AA, ISRG
Wednesday – FAST, YUM
Friday – JPM, WFC
Chart Signals Strategy Guidelines
When the market
is trending up Chart Signals looks
for support bounce and resistance breakout entries.
When the market
is trending down Chart signals looks
for resistance pull back and support break entries.
When the market
is sideways in consolidation Chart Signals
will look for support bounce, diagonal breakouts and pull backs
at resistance where price action stays between support and resistance.
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.
The Market Forecast Green Line is
below the Upper Zone and is pointed up.
____________________
Setups
H Breakout: BRCM, CELG, CMCSA, COST, GOOG, MAT, MSFT, MYL,
NFLX, NTAP, SIRI, TXN, XLNX, YHOO, ALK, BAC, DDD, FAS, NFLX, Z,
Diagonal Breakout: JCP,
Bull Flag: MU, ANGI, GRPN, LNKD, P, ZION,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
Moves
New Highs: AMZN, CSCO, ESRX, FB, WDC, MFRM, SCSS, SPLK
Gap Up:
Gap Down: RAX,
H&D Breakout: AMAT, AMGN, BIDU, CTSH, FFIV,
Breakout Test:
Bounce: FFIV, VECO,
MACD Divergence Bounce:
Bear Flag:
Support Break: BBRY, GMCR,
______________________
71 of 100 Leading NDX stocks closed higher on Wednesday...and one was unchanged.
Leading NDX 100 stocks included:
CTSH, ALXN, AMAT, AMGN, FFIV, SHLD, DLTR, XLNX, LINTA, SBAC, VRTX, EQIX,
AVGO
Lagging NDX stocks included:
MU, FAST, GOLD, NSA, NFLX, CTRX
Leading stocks > +2% on Wednesday included: MCP, SSYS, TSL, CRUS, UCO, TPX, CRM,
GRPN, ICE, ESI
Lagging stocks < -2.0% included: GMCR, UAL, BBRY, ZION
Stocks to Watch on Thursday
Holding Above 30 DMA= 75
SPLS, AVGO, CSCO, AMZN, DLTR,
ADBE, INTU, SBUX, BBBY, EXPE, MCHP, PCLN, SNDK, SRCL, VRTX, ALTR, CA, LINTA,
MAT, MNST, ORLY, PCAR, ROST, STX, VOD, VIAB, FB, LBTYA, KRFT, LMCA, CMCSA,
GOOG, HSIC, DISCA, VRSK, ADP, ALXN, CHKP, CTSH, DTV, EBAY, FOSL, NTAP, SYMC,
WFM, WDC, NFLX, BMC, CELG, ESRX, FISV, LLTC, XLNX, ADI, ATVI, BIIB, CHRW, COST,
CTXS, EXPD, GILD, LIFE, MYL, NUAN, PAYX, XRAY, TXN, DELL, SIAL, SIRI, AKAM,
AMAT, GRMN, KLAC, YHOO
Moving Above 30 DMA = 6
AMGN, MSFT, NVDA, EQIX, REGN, SBAC
Moving Below 30 DMA = 0
Staying Below 30 DMA
CERN, MU, ISRG, INTC, CTRX, ORCL,
WYNN, MDLZ, BIDU, GOLD, AAPL, FAST, FFIV, BRCM, SHLD, QCOM, ADSK, MXIM, NWSA
Four-Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
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