All
nine sectors moved higher on Wednesday…XLY, XLE and XLK were the strongest sectors…XLU
was the weakest sector.
Breadth strengthened…advancers led
decliners…2.17 to
1 on the NYSE and 2.31 to
1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened,
decliners led
Monday - mixed
Friday – strengthened, advancers
led
Thursday – weakened,
decliners led
SPY up 1.42 at 178.38…volume 103.2 million shares
VIX down .30 at 12.52…
TNX down .43 at 27.25…
TLT up .38 at 103.88...
XLF up .18 at 20.84 volume
42.5 million shares
AAPL up .62 at 520.63…volume 7 million shares
FB up 2.10 at 48.71…volume 79.1 million shares…
Technical
Commentary:
QQQ + 1.21%,
IWM + 0.96%, SPY +
0.80%, DIA + 0.44%.
What
started out as a down for stocks at the open turned into a record setting day
for the S&P and DJIA as eager investors rallied the markets. The day saw the DOW rise 0.5% to 15,821.57 while the S&P
gained 0.8% to 1,781.97…a record
close for both.
Many
stocks were able to break through their horizontal resistance to end the day
with a new all-time high including: ADBE, CTSH, MYL,
PCLN, ROST, YHOO, CRM, FSLR, GME, NKE, P, SPY, VRSN. Many
more finished Wednesday near a horizontal resistance and many others near a
diagonal resistance.
SINA gapped up after
earnings breaking its diagonal resistance and closed the day up 8.64 or 11.38%
with 11.7 million shares in volume. QIHU
gained 7.97 or 9.79% and broke through its diagonal
resistance on volume of 4 million shares.
FB is near its diagonal resistance with today’s bounce closing up
2.10 or up 4.52%. Volume for FB
was 79.2 million shares. VECO had
a positive divergence bounce today and gained 1.75
or 6.15%.
CSCO drops 10.31% in after hours after reporting earnings.
Continue
to trade with trend of the individual stock that you are trading and be
vigilant in protecting profits from the last three weeks. Chart Signals has been alerting
readers to, “Move profit
protection stops according to your rules,” since Monday.
Chart Targets:
QQQ = 83.17…
IWM = 110.96, 112.83…
SPY = 177.85, 180.99…
Remember it is big money
that creates and sustains the trend. As Granville once
wrote, “technical analysis is the art of tracking the market, following
the footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are
reading the market correctly, seeing through the maze, unconfused by this hall
of mirrors.”
Short-term SPY posture is
neutral.
Support Levels
ES = 1,741, 1,726
SPY = 174.44, 172.76
QQQ = 81.87, 80.76,
79.76
IWM = 107.83
Earnings this week: RAX, NTES, SINA, CSCO, NTAP, XONE, YOKU,
Q3 Earnings Reactions
Positive Reactions –
SLXP,PCLN, NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB, MDVN, NATI,
SPR, ONNN, EXPE, CRR, HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT, DICSA, ANR,
SWKS, FB, CMCSA, GILD, DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY, XYL, JLL,
PBI, ALR, HUN, ACT, DECK, AMZN, MSFT, FLS, AVY, ALXN, WOOF, COG, BA, CLGX, ESI,
EQIX, WLL, TSCO, RRD, PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS,
GNTX, LXK, DD, VFC, CMG, GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE,
BTU, AXP, KEY, STLD, URI, USB, INTC, JNJ, SCHW, COST, AA
Negative Reactions –
MNST, QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD, AVP,
WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO,
WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC, AGCO,
PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK, RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO,
SIRI, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT, NFLX, COH,
ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH, EBAY, IBM,
XLNX, SCSS, SWK, MU, FAST
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 above
80.
____________________
Setups
H Breakout: BRCM, GOOG, MAT, MSFT, NTAP,
NUAN, QCOM, SBUX, SHLD, SNDK, WDC, WYNN, BA, ANR, ESI, FIVE, IBM, LVS, MFRM, SWKS,
TPX, TRIP, TSL, X,
Diagonal Breakout: AAPL,
AMAT, CMCSA, EBAY, FB, MNST, XLNX, BAC, BX, GLW, GRPN, LNKD, YELP, YNDX,
Bull Flag: STI, TBT, XONE,
ZION,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: FAST,
Moves
New Highs: ADBE, CTSH, MYL,
PCLN, ROST, YHOO, CRM, FSLR, GME, NKE, P, SPY, VRSN,
Gap Up: SINA, TLT,
Gap Down:
H Breakout: BBBY, ESRX, INTC,
MU, NVDA, PCLN, ROST, TXN, YHOO, P, SPY, TIF,
D Breakout: STX, CLF, F,
QIHU,
Breakout Test:
Bounce: AKAM, FB, GOOG, LNDK,
VECO,
MACD Divergence Bounce:
VECO,
Bear Flag:
Support Break:
______________________
89 out of 100 NDX
stocks closed higher on Wednesday.
Leading NDX 100 stocks included: FB, SHLD, AKAM,
YHOO, NVDA, MDLZ, NTAP, FOSL, MAT, ADBE, BBBY, PCLN, QCOM
Lagging NDX stocks included: CTXS, REGN, GOLD
Leading stocks > +2% on Wednesday
included: SINA, QIHU, VECO, Z, LNKD, BX, SPWR, CLF, FSLR, PWRD, JCP,
P, NTES, TPX, TSL, TRIP YOKU
Lagging stocks < -2.0% included: XONE, UAL, UNG
Stocks to Watch on Thursday
Holding Above 30 DMA= 60
CTSH, VOD,
ROST, ADBE, SNDK, SBUX, STX, CERN, CMCSA, MSFT, XRAY, AAPL, HSIC, SPLS, FISV,
FOSL, INTC, INTU, LINTA, PAYX, SBAC, WDC, CHKP, DTV, GOOG, ADP, AMZN, MAT, DISCA, CA, COST, LLTC,
TXN, ADI, MCHP, MU, EXPE, NFLX, ADSK, CSCO, ESRX, LBTYA, ISRG, ALXN, GILD, MYL,
NVDA, PCAR, PCLN, MDLZ, DLTR, MNST, SHLD, WYNN, YHOO, ATVI, AVGO, BRCM, KLAC,
QCOM
Moving Above 30 DMA = 7
AMGN, BBBY, CHRW, EBAY, NTAP, SRCL,
VIAB
Moving Below 30 DMA = 2
CTXS, GOLD
Staying Below 30 DMA
AMAT, VIP,
GRMN, SIAL, WFM, VIAB, CTRX, KRFT, FOXA, AMGN, BBBY, BIIB, REGN, VRSK, LMCA,
TSLA, EXPD, FAST, CHTR, BIDU, CELG, VRTX, FB, MXIM, EQIX, AKAM, ORLY, SIRI,
FFIV, SYMC, ALTR, XLNX, NUAN, GMCR
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Neutral
2 comments:
Dave:
Thank you so much for all your work and this blog.
Robert
CANI_212
You're welcome!
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