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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