Four of nine
sectors
moved higher on Wednesday…XLU, XLP and XLK were the strongest sectors…while
XLI was the weakest sector.
Breadth strengthened as advancers
led decliners 1.37 to
1 on the NYSE and 1.28 to
1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – weakened,
decliners led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
SPY up .05 at 187.28 on 104.5 million shares, below average volume
VIX down .33 at 14.47…
TNX down .40 at 27.26…
TLT up .74 at 107.06...
XLF down .04 at 22.19 on 31.9 million shares, below average volume
AAPL up .52 at 536.61 on 7.1 million shares, below
average volume
FB up .78 at 70.88…on
46.2 million shares, below average volume
Technical
Commentary:
QQQ + 0.38%, IWM + 0.30%, SPY + 0.03%, DIA – 0.12%.
Bull flags
appeared as buyers were back in town on Wednesday. SPY, QQQ, IWM, DIA, XLB, XLF, XLI, XLK,
XLV and XLY made intra-day reversals in bull flag patterns. XLU was a bull flag bounce entry on
Wednesday.
The broad
market appears poised for a bull flag trend continuation bounce that could
continue as soon as Thursday.
KKD +2.02, +10.16% gained in after-hours trading on a positive earnings
reaction.
Trade with the trend of the chart
you are trading and continue
to move your protective stops. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 189.25, 190.55…
QQQ = 90.96, 92.25, 93.05…
IWM = 120.64, 121.84…
Support Levels
SPY = 187.15, 183.75, 182.60
QQQ = 88.87, 87.35,
86.49
IWM = 118.71, 115.58
Earnings this week… GOGO, KKD, MFRM
Q4 Earnings Reactions
Positive Reactions – KKD,
BIG, FL, JOY, DRYS, TSL, DDD, MNST, ROST, YOKU, CRM, SHLD, 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 – CIEN,
COST, CSIQ, HOV, MCP, SSYS, ADSK, CRM, 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 (104)
Reversal in progress
–ADSK, ATI, A, CRUS CSX, CVX, GS, COF, JNJ, IBM, JCI, KEY, KO, LNKD, MA, RAX,
STX, WFM (18, 18%)
Reversal of Initial
Reaction – SINA, AA, AAPL, ABT, ADP, ADM, ALTR, BWLD, DISCA, CERN, CL, CSCO, CTSH, CTXS, DDD,
HAL, EMC, ESRX, FAST, FDO, FSLR, HOG, BAX, VRSN, HUM, P, GILD, PCAR, MDC, MMM,
CELG, HOG, POT, SHW, GLW, DD, HON, SWK, ISRG, KLAC, LMT, SFLY, TPX, TSCO, TSO, WHR,
UNH, VZ, WDC, VFC, VMW, YHOO, XOM, ZION (54, 51%)
The Market Forecast Green Line closed above 92.
____________________
Setups
H Breakout: MTW, PANW, V, INTC, MU, QCOM,
Diagonal Breakout: AAPL,
Bull Flag: AAL, BAC, BX, FAS, GLW, GME, IBM,
IWM, LVS, MFRM, MS, NKE, QIHU, SFUN, SPY, STI, SWI, TSL, UAL, X, ZION, CTSH,
DTV, FFIV, NFLX, WYNN, XLNX, QQQ
One Day:
Potential Bullish
Divergence: JNPR, RCL,
Gap Up: KKD,
Gap Down:
Bear Flag:
At Support: BBRY, CRM,
DRYS, LNKD, NTES, SPWR, YNDX, YHOO,
C- Pattern:
Moves
New Highs: TXN,
Gap Up: GLD,
Gap Down: C, MS, UNG,
H Breakout: KKD, SBUX, WFM,
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce: JDSU, SWKS, TPX, YELP, AMZN, EBAY, GOOG,
GRMN, MSFT, PCLN, TRIP, TSLA, XLU, ATI, MTW,
Bounce: CIEN, CREE, CTRP, ESI, GRPN, P, SCTY, SPLK,
WLT, Z, ADBE, GMCR, NTAP, WDC,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
65 of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: REGN, TSLA, ATVI,
EXPE, WFM, GMCR, AMAT, KLAC, AVGO
Lagging NDX stocks included: MYL, CTSH, SIRI,
SPLS, LMCA, ADSK
Leading stocks > +2% on Wednesday
included: SCTY, JDSU, Z, WLT, GRPN, P, CIEN, CTRP, SPLK, YELP
Lagging stocks < -2.0% included: DRYS, YNDX
Stocks to Watch on Thursday
Holding Above 30 DMA= 78
ILMN,
EQIX, FFIV, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, ALXN, REGN, GOOG,
WYNN, FB, ADBE, ORLY, DISH, EBAY, AKAM, AVGO, DTV, PCAR, AMGN, ATVI, CERN,
EXPE, MNST, MSFT, MYL, NVDA, PCLN, SNDK, TRIP, XLNX, ADI, MAR, AMAT, CHKP,
KLAC, TXN, CTSH, GRMN, HSIC, LINTA, LLTC, VIAB, KRFT, BIDU, MDLZ, FOXA, FISV,
LBTYA, DISCA, CTXS, FAST, INTU, WFM, BBBY, DLTR, ROST, SIAL, ADP, TSCO, SBAC,
AAPL, BRCM, ESRX, PAYX, QCOM, AMZN, SRCL, INTC, MAT, SBUX, COST, GMCR
Moving Above 30 DMA = 1
STX
Moving Below 30 DMA = 1
CA
Staying Below 30 DMA
YHOO, VRSK, ADSK, VOD, WDC, LMCA, CELG, GILD, SPLS, VRTX, SIRI, CTRX,
CMCSA, CSCO, NTAP, CHTR, CHRW SYMC, EXPD, VIP
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Down
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