Eight of nine sectors moved higher on Wednesday…XLB, XLY and XLI were
the strongest sectors…XLU was the
weakest sector.
Breadth weakened as advancers led decliners 1.35 to 1 on
the NYSE and 1.28
to 1 on the NASDAQ.
Wednesday – weakened, advancers led
Tuesday – weakened
slightly, advancers led
Monday – strengthened,
advancers led
Friday – strengthened,
advancers led
Thursday - mixed
SPY up .63 at 188.88 on 78.6 million shares
VIX down .01 at 13.09…
TNX up .44 at 28.03…
TLT down .62 at 107.27...
XLF up .05 at 22.43 on 36.2 million shares
AAPL up .91 at 542.55 on 6.4 million shares
FB up .10 at 62.72…on 66.1
million shares, average volume
Technical
Commentary:
IWM +0.45%,
SPY +0.33%, QQQ +0.26%, DIA +0.25%.
The IWM
led the broad indexes on Wednesday as moves in MNKD, GTAT, GLOG, BKS, HTGC,
VPRT, SNSS, IRBT, XCO, NXTM, AREX, MDSO, FRAN, BGC, AMCC, SFY, OSIS, MGI, CRK,
FANG, ROSE, ACTG, AXE, LXRX and SN help lift the index. The VIX fell to its lowest close since
Jan 22.
Interest
rates TNX rose to its highest close since Jan 22, as bonds fell and
gold rose. The Euro
dropped 29 pips.
The SPY
rose to a new all-time closing high continuing its rise since its MACD bullish
divergence bounce entry on Monday.
The NDX
100 climbed just 7.59 poinnts with CMCSA, TSLA, ISRG, AAPL, PCLN and FOXA
contributing 6.4 NDX points.
EBAY, CSCO, INTC and MSFT weighed -2.2 NDX points on
the index.
While many
bounce entries occurred on Monday and Tuesday…continue to look for an
opportunity to enter bounce and breakout trades according to your rules.
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 = 89.39, 90.96, 92.25…
IWM = 118.31, 120.25…
Support Levels
SPY = 187.34, 183.90, 183.63
QQQ = 86.40, 85.88
IWM = 113.69, 111.35
Q1 Earnings Reactions
MU will report earnings Thursday,
April 3 after the close. AA will report
Tuesday April 8 after the
close, the traditional unofficial start of Q1 earnings season.
Positive Reactions –
Negative Reactions – BBRY,
Reversal in progress –
Reversal of Initial
Reaction –
The Market Forecast green
line is pointed up and is at 66.
____________________
Setups
H Breakout: AAL,
ATI, CTRP, FAS, FSLR, HOG, JNPR, SCSS, STI, ANGI, CRM, BIDU, CMCSA, CTSH, GILD,
Diagonal Breakout: BX,
CIEN, ESI, GOGO, IBM, IWM, MTW, SWI, SWKS, X, ROST,
Bull Flag: TLT, GRMN,
One Day: LVS, SNDK,
Potential Bullish
Divergence: SPWR, CERN, COST, ANR, COST, GMCR,
Gap Up:
Gap Down:
Bear Flag: CREE, ETFC, GLD, KKD, NKE, SWI, TBT, TSL,
UBNT, V, P, SCTY, SFUN, SINA, SOHU, SSYS, WLT, XONE, YOKU, ADBE, ADSK, AKAM,
AMZN, EBAY, ESRX, FB, FFIV, GOOG, MNST, NFLX, TRIP, WYNN,
At Support: PANW, SPLK, UNG,
C- Pattern: TSLA, CMCSA, MNST, PCLN, WYNN, CIEN, GOGO, JNPR, SWI, CRM,
CSIQ, LVS,
Moves
New Highs: GLW, GME, RCL, SPY, MSFT, QCOM, SNDK,
STX, WDC, CELG, MSFT, QCOM, STX, TXN, WDC,
Gap Up:
Gap Down:
H Breakout: SPWR, ZION,
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce: MFRM, SCHW, GRMN,
Bounce:
MACD Divergence Bounce: NTAP,
Bear Flag: NTES, QIHU, RAX, TWTR, VRSN, YELP,
Support Break:
______________________
61 of 100 NDX stocks
closed higher and one
unchanged on Wednesday.
Leading NDX 100 stocks included: TSLA, ISRG, SPLS,
SIRI, MYL, GRMN, CMCSA, FOXA, CHRW, LINTA
Lagging NDX stocks included: AKAM, MNST, SBAC,
LLTC, EBAY, ADSK, BRCM, SNDK, ALTR, SYMC
Leading stocks > +2% on Wednesday
included: GOGO, SPWR, ANGI, WLT
Lagging stocks < -2.0% included: YELP, NTES, SPLK, QIHU, TWTR, LNKD,
VRSN, SOHU
Stocks to Watch on
Thursday
Holding Above 30 DMA= 49
AVGO,
PCAR, ATVI, MSFT, MAR, XLNX, AMAT, KLAC, TXN, GRMN, LLTC, KRFT, FAST, MAT, ADI,
BRCM, INTC, QCOM, SNDK, STX, WDC, AAPL, CSCO, NXPI, DISH, MDLZ, PAYX, ROST, BBBY,
MXIM, ALTR, CHKP, CHRW, DTV, HSIC, ISRG, ADP, AMGN, CTSH, DISCA, EXPD, EXPE,
FOXA, LINTA, MU, NVDA, SBUX, SIAL, TSC0
Moving Above 30 DMA = 5
CHTR, CMCSA, FISV, SPLS, VIAB,
Moving Below 30 DMA = 0
Staying Below 30 DMA
CTXS, INTU, AKAM, EBAY, ESRX, FFIV, MYL, WFM, LMCA, TSLA, TRIP, ADBE, AMZN,
BIIB, DLTR, SYMC, GMCR, ALXN, CERN, YHOO, FB, REGN, GOOG, PCLN, WYNN, LBTYA,
SBAC, COST, BIDU, MNST, ORLY, SRCL, EQIX, NFLX, ILMN, CA, VRSK, ADSK, VOD,
CELG, GILD, VRTX, SIRI, CTRX, NTAP, VIP
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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