Wednesday, March 26, 2014

Stocks Extend Losses...DISH And DTV Bounce On Merger Rumors...Fed Rejects Capital Plans For C...C Trading Down In After-Hours 4.94%...

Only one of nine sectors moved higher on Wednesday…XLV, XLP and XLU were the strongest sectors…XLB was the weakest sector.    

Breadth weakened as decliners led advancers 1.99 to 1 on the NYSE and 3.86 to 1 on the NASDAQ.

Wednesday – weakened, decliners led
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – mixed, mixed
Thursday – strengthened, mixed


SPY down 1.34 at 184.97 on 119.6 million shares
VIX up .91 at 14.93…
TNX down .34 at 27.01…
TLT up .85 at 109.44...
XLF down .23 at 22.14 on 50.7 million shares

AAPL down 5.21 at 539.78 on 10.6 million shares
FB down 4.50 at 60.38…on 97.5 million shares, above average volume


Technical Commentary: 
IWM – 1.92%, QQQ – 1.29%, DIA – 1.06, SPY – 0.72%.

Investors continue to put selling pressure on stocks in Wednesday’s trading session with stocks extending losses by the end of the day.  The DJIA closed down 98.89…the NASDAQ was off 60.69 while the S&P 500 closed down 13.08.

UBNT broke support closing down 5.03, 10.22%...TSL traded down 1.21, 8.46% and at today’s close rests at support of early February…No matter how much TWTR ‘tweets,’ TWTR continues its downward trend ending in another losing session today closing down 3.45, 7.21%...and Z extended its lose closing down 5.97, 6.34% to rest at support of late February.

With rumors of merger talks…both DISH and DTV rose today…DISH bounced reaching a new intra-day all time high but closed below the high…gaining 3.67, 6.28%...while DTV bounced and ended the day gaining 4.17, 5.70%...both on heavy volume.
The Fed rejected on Wednesday the capital plans for C and four other major banks…citing that not enough promised improvements were made.  In after hours-trading C shares fell trading down 2.48, 4.94%.

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 = 187.15, 189.25, 190.55…
QQQ = 90.96, 92.25, 93.05
IWM = 118.71, 120.64, 121.84…

Support Levels
SPY = 184.44, 183.75, 182.60
QQQ = 88.87, 87.35, 86.49
IWM = 116.19, 115.58


Q4 Earnings Reactions
Positive Reactions – KKD, MFRM, 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 – GOGO, 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, A, CSX, CVX, GS, COF, GOGO, JNJ, IBM, JCI, KO, LNKD, MA, RAX, STX, WFM (16, 16%)

Reversal of Initial Reaction – FSLR, AA, AAPL, ABT, ADP, ADM, ALTR, ATI, BAX, BWLD, DISCA, CELG, CERN, CL, CSCO, CTSH, CTXS, CRUS, DD, DDD, EMC, ESRX, FAST, FDO, FSLR, GILD, GLW, HAL, HOG, HON, HUM, ISRG, KEY, KLAC, LMT, MDC, MMM, P, PCAR, POT, SFLY, SHW, SINA, SWK, TPX, TSCO, TSO, UNH, VZ,  VFC, VMW, VRSN, WDC, WHR,  XOM, YHOO, ZION (58, 55%)


The Market Forecast is below 80 at 73.
____________________

Setups
H Breakout: AAPL, GME,  
Diagonal Breakout:  
Bull Flag: BAC, ETFC, FAS, FSLR, JDSU, MS, RCL, SCHW, STI, SWKS, Z,
One Day:  
Potential Bullish Divergence: 
Gap Up
Gap Down:     
Bear Flag: 
At Support: AMZN, BIDU, ROST, WFM, ESI, SPY, UAL, UBNT, LNKD,
C- Pattern:

Moves
New Highs:  
Gap Up: GLW, YOKU,
Gap Down:
H Breakout: TLT,  
Diagonal Breakout: DTV,  
Breakout Test:
Bull Flag Bounce:  
Bounce: VRSN,  
MACD Divergence Bounce:   
Bear Flag
Support Break: FFIV, MU, BX, CIEN, CREE, IWM, TBT, CSIQ, SOHU,

______________________


15 of 100 NDX stocks closed higher and one unchanged on Wednesday.

Leading NDX 100 stocks included: DISH, DTV, VIP, NXPI

Lagging NDX stocks included: FB, ILMN, CTXS, TRIP, FFIV, TSLA, AMZN, MYL, MU, ADBE, PCLN

Leading stocks > +2% on Wednesday included: GME, GLW, YOKU, NTES,

Lagging stocks < -2.0% included: UBNT, TSL, Z, QIHU, CSIQ, SOHU, TWTR


Stocks to Watch on Thursday
Holding Above 30 DMA= 27
MXIM, ALTR, AVGO, PCAR, ATVI, MSFT, XLNX, MAR, AMAT, KLAC, TXN, GRMN, LLTC, KRFT, FAST, TSCO, MAT, BRCM, INTC, QCOM, SNDK, STX, ADI, WDC, AAPL, CSCO, NXPI

Moving Above 30 DMA = 2
DTV, DISH

Moving Below 30 DMA = 8
BBBY, CTXS, INTU, NVDA, PAYX, ROST, SBUX, MDLZ

Staying Below 30 DMA
DISCA, ADP, AKAM, EBAY, ESRX, FFIV, FISV, LINT, MYL, SIAL, WFM, VIAB, LMCA, TSLA, TRIP, ADBE, AMGN, AMZN, BIIB, CHKP, DLTR, HSIC, ISRG, SYMC, GMCR, ALXN, CERN, YHOO, FB, REGN, FOXA, CTSH, EXPE, GOOG, PCLN, WYNN, LBTYA, SBAC, COST, BIDU, MNST, MY, ORLY, SRCL, EQIX, NFLX ILMN, C, VRSK, ADSK, VOD, CELG, GILD, SPLS, VRTX, SIRI, CTRX, CMCSA, NTAP, CHTR,CHRW, EXPD, VIP


Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Neutral



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