Four out of nine
sectors
moved higher on Wednesday…XLB, XLY and XLI were the strongest sectors…while
XLE was the weakest sector.
Breadth strengthened
as advancers
led decliners 1.58 to
1 on the NYSE and 1.56 to
1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
Friday – weakened,
advancers led
Thursday – strengthened,
advancers led
SPY up .01 at 184.85 volume 95.4 million shares, below average volume
VIX up .68 at 14.35…
TNX down .28 at 26.73…
TLT up .57 at 107.92...
XLF down .03 volume 42.4 million shares
AAPL down 4.71 at 517.35 volume 9.8 million shares
FB down .59 at 69.26…volume 55.1 million shares
Technical
Commentary:
IWM + 0.62%,
DIA + 0.21%, SPY + 0.01%, QQQ – 0.09%.
On
Wednesday money continued to flow into small caps as IWM +0.72, +0.62% after
lagging for three weeks finally caught up with SPY, made a new
all-time intra-day high at 118.11 before closing, within two cents
of its Jan 22 all-time closing high, at 117.35.
DIA +0.34,
+0.21% gained on
strength from WMT, UNH, DD, HD and CAT.
On
Wednesday retail continued to ring the cash register as ANF +4.05, +11.25%, TGT +3.98,
+7.04%, LOW +2.61, +5.43%, DLTR +2.61, +4.95% gained
on positive earnings reaction. The
retail industry ETF XRT gained +1.57, +1.88%. Internet retail winners included OSTK +1.30, +6.77%, VIPS +7.31,
+6.67%, ZU +3.18, +5.44%, CTRP +2.16, +4.32% and SFLY +2.03,
+3.92. Other big retail
movers in addition to WMT and HD included SPLS, ROST, SHLD, RSH, BBY
and TIF.
January
new homes sales data was better than expected and housing stocks boomed. XHB
+2.66%, LEN +3.60%,
KBH +3.17%, DHI +2.94%, PHM +2.76% and
TOL +1.70% continued
their current uptrend.
BIDU +14.10,
+8.16%, ADSK +2.66,
+4.86% gained in after-hours
trading on a positive earnings reactions.
FB is in a two day bull flag and MU in a
four day bull flag formed an inverted hammer.
Trade with the trend of the chart
you are trading and move
your protective stops. Be mindful of
reversal patterns like double bottoms and MACD divergences. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 184.10, 187.99…
QQQ = 90.43, 92.25, 94.26…
IWM = 115.39, 117.37…
Support Levels
SPY = 181.85, 180.29 179.04
QQQ = 89.00, 87.74,
86.97
IWM = 113.65, 111.21
Q4 earnings season…
The majority of earnings
season is done, however there are still a few companies including ADSK, CRM, MCP, MNST, ROST, YOKU, DRYS, TSL, SSYS and DDD that will
report over the next few days…
Q4 Earnings Reactions
Positive Reactions – ANF,
TGT, DLTR, LOW, HD, M, SCTY, ZU, PCLN, DISH, INTU, AEE, MDRX, ALEX, DTV,
TSLA, GRMN, SWY, KRFT, AMAT, CTRP, NVDA, SPWR, TRIP, REGN, CBOE,
MCO, ATVI, AKAM, EXPE, GMCR, NXPI, ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC,
KORS, KEYW, IDXX, XYL, YUM, NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG,
GOOG, JDSU, MTW, PHM, RYL, UA, VIAB, V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL,
CHKP, EA, F, ILMN, LXK, CAT, RCL, JNPR, MSFT, KMB, PG, MXIM, SBUX, NFLX,
FFIV, URI, UNP, EBAY, MCD, CREE, TXN, UTX, NUAN, XLNX, BHI, DAL, RF, MS, SLB,
STI, AXP, SWKS, BAC, LLTC, WEN, MON, MU, STZ, APOL
Negative Reactions – FSLR,
SINA, ESRX, GRPN, YNDX, KO, A, GNC, WTW, VFC, WFM, ANGI, CSCO, DISCA, NTAP,
RAX, CI, LNKD, TPX, VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN,
CHRW, DDD, SFLY, GILD, CVX, MA, MAT, PCAR, AMZN, MMM, CELG, CL, XOM, ESI, HOG,
OSTK, POT, SHW, WHR, BA, CTXS, EMC, TSCO, CRUS, GLW, DD, F, VMW, YHOO, AAPL,
STX, ZION, HON, KSU, SWK, STT, ALTR, ISRG, KLAC, KEY, JCI, LMT, WDC, ABT, BAX,
ATI, COH, FCX, AMD, IBM, HAL, JNJ, TRV, VZ, GE, COF, INTC, UNH, C, GS, CSX,
FAST, AA, FDO, BBBY, SCHN (94)
Reversal of Initial
Reaction – WDC, DISCA, XOM, CTXS, DDD, SFLY, TPX, VZ, ABT, BAX, AAPL,
CL, VRSN, CSCO, ADP, CTSH, HUM, P, TSO, ADM, CERN, GILD, PCAR, MMM, CELG, HOG,
POT, SHW, EMC, GLW, DD, VMW, YHOO, ZION, HON, SWK, ALTR, ISRG, KLAC, LMT, HAL,
FAST, FDO, AA (44, 46%)
The Market Forecast Green Line is above 80.
____________________
Setups
H Breakout: CSIQ, IBM, IWM, NKE, QIHU, AMZN, TXN, WDC,
XLNX,
Diagonal Breakout: GOGO, LNKD,
Bull Flag: FB, MU, CIEN, GLW, LVS, UNG, AKAM, DTV,
ESRX, GMCR, MNST, MSFT
One Day:
Potential Bullish
Divergence:
Gap Up: ADSK,
BIDU
Gap Down:
Bear Flag: A,
At Support: C,
C- Pattern:
Moves
New Highs: MTW, P, SCTY, SWKS, SNDK,
Gap Up: YNDX,
Gap Down:
FSLR
H Breakout: CREE, JDSU, MFRM, ROST,
Diagonal Breakout:
Breakout Test:
Bounce: KKD, NTES, SCSS, SFUN, TPX, WLT, X, SBUX,
MACD Divergence Bounce:
Bear Flag:
Support Break: MCP,
______________________
52 out of 100 NDX
stocks closed higher on Wednesday.
Leading NDX 100 stocks included: DLTR, AVGO, SPLS,
FFIV, ROST, SYMC, EBAY, STX, TSLA, TSCO
Lagging NDX stocks included: SBAC, CELG, VRSK,
AMGN, ILMN, VIP, VOD, ORLY, GMCR, EXPE
Leading stocks > +2% on Wednesday
included: WLT, CSIQ, SCTY, KKD, SCSS, YNKX, SWKS, RAX, SFUN, QIHU,
CREE, ANR, MGRM, P, TPX, Z, MTW, SINA, JDSU, X
Lagging stocks < -2.0% included: FSLR, ESI, MCP, UNG, BBRY
Stocks to Watch on
Thursday
Holding Above 30 DMA= 78
ILMN,
EQIX, FFIV, SBAC, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, ALXN, REGN,
GOOG, WYNN, FB, GMCR, ADBE, ORLY, DISH, EBAY, ADSK, AKAM, AVGO, BRCM, DTV,
PCAR, VRTX, AMGN, ATVI, CERN, EXPE, GILD, MNST, MSFT, MYL, NVDA, PCLN, QCOM,
SNDK, TRIP, MAR, XLNX, ADI, AMAT, CHKP, KLAC, TXN, CTRX, CTSH, GRMN, HSIC,
LINTA, LLTC, VIAB, KRFT, BIDU, VRSK, MDLZ, LMCA, FOXA, FISV, LBTYA, DISCA,
CTXS, FAST, INTU, VOD, WDC, WFM, BBBY, CA, CELG, DLTR, ROST, SIAL, ADP, COST, TSCO
Moving Above 30 DMA = 1
SPLS
Moving Below 30 DMA = 3
CELG, SBAC, VRSK
Staying Below 30 DMA
AAPL, ESRX, CMCSA, CSCO, SBUX, SRCL, NTAP, CHTR, CHRW, AMZN, SYMC STX,
EXPD, VIP, INTC, YHOO, PAYX, MAT
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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