Four of nine
sectors
moved higher on Wednesday and two
were unchanged…XLI, XLK and XLU were the strongest sectors…while XLP was the weakest sector.
Breadth weakened
as advancers
led decliners 1.32 to
1 on the NYSE and 1.16 to
1 on the NASDAQ.
Wednesday – weakened, advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
Thursday – strengthened,
advancers led
SPY up .09 at 182.07 volume 94.4 million shares
VIX down .21 at 14.30…
TNX up .44 at 27.63…
TLT down .55 at 105.92...
XLF unchanged volume 38.8 million shares
AAPL down .04 at 535.92 volume 11 million shares
FB down .40 at 64.45…volume 47.2 million shares
Technical
Commentary:
DIA – 0.03%,
SPY + 0.05%, QQQ + 0.19%, IWM + 0.39%.
U.S.
stocks traded in a tight range pause day on Wednesday, after a powerful
four-day rise, as small caps IWM led the broad index ETFs. QQQ made a new high close with
strength in MSFT +0.295, PCLN +32.71 and QCOM +0.80. PCLN made a new all-time high close and
QCOM finished with a new high close. TRIP
+6.07, +7.21%
on a positive earnings reaction also made an all-time high close.
LIVE +2.11,
+36.73% split 3
for 1 and had analyst coverage initiated with a speculative buy rating and a
$12 price target.
ESI +8.39%,
SHLD +4.31%, ZNGA +3.67%
and MRVL +2.90% moved higher as CBOE +2.39% made an all-time high.
TWTR +5.28% made its highest close since it
earnings reaction collapse closing above its low on Jan 27. ANGI +4.46% and UNTD +4.14% along with ZNGA were social media leaders.
NVDA +3.92% gained while WFM -7.50%, CSCO -4.16%,
NTAP -3.22% fell
in after-hours trading on earnings’ reactions after the close.
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 = 182.54, 184.69…
QQQ = 89.00, 92.25, 94.26…
IWM = 113.65, 117.37…
Support Levels
SPY = 179.81, 178.08
QQQ = 87.74, 86.97
IWM = 111.34, 110.40
Q4 earnings season…
The majority of earnings
season is done, however there are still several companies including AMAT, CSCO, DISCA, DISH, GRMN, KRFT, NTAP,
NVDA, PCLN, REGN, TRIP, TSLA and WFM that will report over the next several days…
Q4 Earnings Reactions
Positive Reactions –
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, 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 – RAX,
CI, LNKD, VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW,
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
Reversal of Initial
Reaction – CTSH, P, ADM, CERN, GILD, GLW, HON, FAST, FDO, AA
The Market Forecast Green Line is pointed up above 45 and rising.
____________________
Setups
H Breakout: CRM, DRYS, FSLR, GLW, GOGO, IWM, MTW, P,
QIHU, SCSS, SWI, TSL, V, X, Z, CTSH, GILD, MSFT, WDC,
Diagonal Breakout: AAPL,
Bull Flag: YELP,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs: SWKS, ADBE, ADSK, ESRX, PCLN, QCOM, TRIP,
XLNX,
Gap Up: TRIP,
Gap Down:
H Breakout: LVS, SWKS, EBAY, GRMN, XLNX,
Diagonal Breakout:
Breakout Test:
Bounce: ESI,
MACD Divergence
Bounce: SSYS,
Bear Flag:
Support Break: LNKD,
______________________
69 out of 100 NDX
stocks closed higher on Wednesday.
Leading NDX 100 stocks included: TRIP, CTRX, NVDA,
ISRG, PCLN, XLNX, ADBE, GRMN, ADSK, AVGO
Lagging NDX stocks included: INTU, AMZN, NTAP,
SPLS, REGN, MNST, WYNN, ILMN, VRTX, NFLX
Leading stocks > +2% on Wednesday
included: ESI, TWTR, ANGI, SSYS, SWKS, Z
Lagging stocks < -2.0% included: LNKD, XONE, ANR, RAX, STI, YELP, JNPR
Stocks to Watch on Thursday
Holding Above 30 DMA= 60
ILMN,
ESRX, CMCSA, EQIX, FFIV, SBAC, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, CHTR,
ALTR, ALXN, REGN, GOOG, WYNN, FB, GMCR, ADBE, ORLY, DISH, EBAY, ADSK, AKAM,
AVGO, BRCM, CSCO, DTV, PCAR, VRTX, WFM, AMGN, ATVI, CERN, EXPE, GILD, MNST,
MSFT, MYL, NTAP, NVDA, PCLN, QCOM, SIAL, SNDK, TRIP, MAR, XLNX, ADI, AAPL,
AMAT, CHKP, COST, CTRX, DISCA, KLAC, TXN,
Moving Above 30 DMA = 8
CTSH, GRMN, HSIC, KRFT, LINTA, LLTC, VIAB, WDC
Moving Below 30 DMA = 0
Staying Below 30 DMA
SBUX, SRCL, CHRW, AMZN,
VRSK, SYMC, SIRI, STX, CA, CELG, EXPD, FAST, FISV, VIP, VOD, ADP, BIDU, CTXS,
INTC, INTU, LBTYA, MDLZ, YHOO, TSCO, PAYX, ROST, DLTR, BBBY, FOXA, SPLS, MAT,
LMCA,
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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