Eight of nine sectors moved higher on Wednesday…XLB, XLI and XLY were the
strongest sectors…XLE was the weakest sector.
Breadth strengthened as advancers led decliners 2.01 to 1 on the NYSE and 1.33 to 1 on the NASDAQ.
Wednesday –
strengthened, advancers led
Tuesday – strengthened, advancers led
Monday – strengthened,
mixed
Friday - weakened,
decliners led
Thursday – strengthened,
decliners led
SPY up .56 at 188.31 on 101.1 million shares
VIX down. 30 at 13.41…
TNX down .47 at 26.48…
TLT up .46 at 111.10...
XLF up .03 at 21.96 on 37.9 million shares
AAPL down 2.24 at 590.09 on 16.2 million shares
FB up 1.63 at 59.78…on 75.4 million shares…MACD Bullish Divergence bounce entry
today
Technical Commentary:
IWM +
0.67%, QQQ + 0.26%, SPY + 0.30%, DIA + 0.45%.
DIA 164.45 closed just
two cents from its all-time closing high on Dec 31, while SPY closed 57 cents
below it all-time closing high on Apr 2.
MU +1.02, +4.06%, Tuesday’s bull flag setup, gave an entry signal
today. ETFC +2.05%, TPX +2.55%, MS +1.34% and
BA +0.51% were also bull flag entries today.
SPWR Bull Flag…
(click image to enlarge)
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 = 187.17, 189.70…
QQQ = 86.90, 87.88…
IWM = 113.84, 115.25…
Support Levels
SPY = 183.37, 181.38
QQQ = 85.09, 84.16,
83.15, 82.03
IWM = 110.12, 108.91,
106.99
Earnings This Week:
Monday: BWLD, GLW, SOHU
Tuesday: DDD, ADM, BMY, CHRW, CHKP, COH, CNX, EBAY, ESRX, FISV, MAR, MRK, MGM, NOK, PCAR, PNRA, STX, SWI, SAVE, S, GT, TWTR, X, VLO, VRSK
Wednesday: GRMN, JDSU, MET, TSO, TWX, WDC, YELP
Thursday: AKAM, ANR, CTRX, CLX, DVA, EXPE, XOM,
ESI, K, KRFT, LNKD, MDC, MA, TMUS, TPX, VRTX, VIAB, WYNN
Friday: LNG
Q1 Earnings Reactions
Positive Reactions – GRMN,
ENR, LVLT, PBI, TWX, CHRW, CNX, DNB, FISV, MAR, VRSK, WLP, MGM, MRK, NOK, S,
UTHR, BWLD, AAPL, AET, ALXN, ANGI, BA, BHI, BIDU, BTU, BX, C,COG, CTXS, DAL, DAVE, DECK, DHI, DO, DV, ETFC, FCX, GE, GILD,
GME, HOG, HAL, HAS, HOG, IBKR,
INTC, JNJ, KO, LPNT, LRCX, MS, NXPI, POT, RF, SCHW, SNDK, SPWR, STI, SWK, SWKS,
TKR, TRV, UNP, URI, WFC, XRX, YHOO
Negative Reactions – EBAY,
ESRX, SEE, PNRA, STX, SWI, TWTR, ADM, BMY, CHKP, COH, DDD, GT, PCAR, SAVE, SOHU,
ACI, AKS, ALTR, AMGN, AMZN, ATI, BAC, BBRY, BIIB, BRCM, CELG, CLF, CREE, F, FAST, FFIV, GOOG, IBM, JCI,
JPM, KLAC, KMB, LLTC, LLY, LVS, LXK, MMM, MU, MXIM, NSC, NUE, P, PG, QCOM,
SIRI, STLD, STT, T, UA, UNH, UPS, V, VMW, VZ, XLNX, YNDX, ZIOIN, ZNGA,
Reversal in progress – BRCM,
LLTC, NUE, STLD, ZION
Reversal of Initial
Reaction – AKS, ATI, BAC, CELG, F, IBM, KMB, LVS, MMM, MU, PG, SIRI, T, UPS, YNDX,
ANGI, BIDU, NFLX, RF, INTC
The SPY Market Forecast green line is pointed up at 72.
____________________
Setups
H Breakout: ATI, IBM,
RCL, SPY, UNG, CELG, CMCSA, COST, SNDK,
Diagonal Breakout: C,
FAS, GLW, KKD, MTW, NKE, ANR, LVS, UBNT, YNDX, ADSK, INTC, MNST, TRIP, TSLA, WYNN,
YHOO,
Bull Flag: SPWR, SWKS,
SCHW, SSCS,
One Day:
Potential Bullish
Divergence: BX, JDSU, MFRM, SPLK, VRSN, YOKU,
TSL, ZION,
Gap Up: TSO, YELP
Gap Down: JDSU, MET, WDC
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs: HOG, Z,
Gap Up: GRMN, ENR, LVLT,
CHRW, MAR, PBI, WLP, VRSK, SEE,
Gap Down: SFUN, TWTR,
EBAY, ESRX,
H Breakout: XONE, DTV,
Z,
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce: ETFC,
MS, MU, BA, TLT, TPX,
Bounce: CREE, ANGI, CRM,
ESI, GOGO, RAX, SCTY, CTSH, MU, WFM,
MACD Divergence Bounce:
FSLR, IWM, JNPR, STI, DDD, LNKD, SSYS, ADBE, AKAM, AMZN, FB, WDC,
Bear Flag:
Support Break: SWI,
______________________
74 of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: FISV, CHRW, AVGO, MU, SIRI, VRSK, GRMN, GILD,
FB, CERN, MAR
Lagging NDX stocks included: ESRX, EBAY, CTRX, STX
Leading stocks > +2% on Wednesday
included: Z, TPX, ETFC,
XONE, DDD, YNDX, GOGO, SSYS
Lagging stocks < -2.0% included:
DDD, SSYS, TWTR, SFUN, SWI, QIHU, P
Stocks to Watch on Wednesday
Holding Above 30 DMA= 24
MAR, KRFT,
INTC, CSCO, CHRW, SPLS, COST, EXPD, SIAL, MDLZ, MU, SNDK, CMCSA, ORLY, GILD,
CHTR, MYL, AAPL,CTXS, SRCL, VOD, DTV, MSFT, ADP, ALZN, CELG, FISV, SYMC, YHOO,
EQIX, NXPI
Moving Above 30 DMA = 13
ATVI, AVGO, BRCM, DLTR, FAST, GRMN, MAT, MXIM, PAYX, SIRI, VIAB,
VRSK, LMCA
Moving Below 30 DMA = 1
NVDA
Staying Below 30 DMA
BIDU,
LINTA, FOXA, CHKP, PCAR, TXN, ADI, WDC, ILMN, FFIV, QCOM, VIP, EXPE, STX, FB,
REGN, SBAC, TSLA, ISRG, AMAT, KLAC, LLTC, NTAP, XLNX, BBBY, ROST, DISH, ALTR, AMGN,
CTSH, HSIC, DISCA, SBUX, TSCO, INTU, AKAM, EBAY,ESRX, WFM, TRIP, ADBE, AMZN,
BIIB, GMCR, CERN, PCLN, WYNN, LBTYA, MNST, NFLX, CA, ADSK, VRTX, CTRX, GOOG
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
