All nine sectors moved
higher on Wednesday…XLV, XLK
and XLI were the strongest sectors…XLP was the weakest
sector.
Breadth strengthened as advancers led decliners 2.98 to 1 on the NYSE and 2.03 to 1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners led
Monday – strengthened, advancers led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
SPY up 1.31 at 194.84 on 69 million shares, below average volume
VIX down 1.23 at 12.90…
TNX down .29 at 24.13…
TLT up .75 at 115.51...
XLF up .10 at 22.55 on 22.7 million shares, below average volume
AAPL up 1.27 at 97.24 on 31.9 million shares
FB up .94 at 73.77…on 29.2 million shares
Technical Commentary:
QQQ +1.06%,
IWM +0.78%, SPY +0.68%, DIA +0.60%.
The SPY bounce and Market Forecast green line continued to rise today.
While markets do zig zag higher as opposed to moving in a straight line, Chart
Signals looks for a continuation
move to the upside over the next several trading days.
The NDX led all indexes with
percentage gains in biotech VRTX, BIIB,
CELG and semiconductors INTC and MU. NDX
point gainers included INTC, MSFT, GOOG,
AMZN, BIIB, FB, AAPL and GILD.
Traders continue to follow
your entry rules, now.
Trade with the trend of
the chart you are trading
and continue to move your profit protection stops. Continue to follow your rules.
Short-term up trend Chart Targets:
SPY = 194.30,
195.78, 196.62, 198.05...
QQQ = 96.31,
97.52, 98.28
IWM = 112.23, 114.31...
Support Levels
SPY = 191.57, 189.51...
QQQ = 93.57, 91.73,
90.44…
IWM = 110.15,
108.86...
Earnings season is
winding down while the ramp up for retail earnings begins.
This week: PCLN, GOGO, CSIQ, JDSU, CREE, RAX,
VJET, XONE, SINA, NTES, ADSK, NTAP, JCP, JD
Q2 Earnings Reactions
Positive Reactions – CSIQ,
PCLN, NVDA, MNST, ANR, FSLR, GTAT, LNKD, SFUN, SSYS, SUNE, UBNT, YOKU, AKS,
AMGN, CHRW, ESRX, HCA, HES, LRCX, TSN, TWTR, WYNN, X, YNDX, CMG, BIIB, ISRG, SWI, UA, VRSN, AAPL, APD, CA,
CHKP, CMCSA, CTXS, DAL, DECK, DOW, FFIV, FB, FTI, GD, LXK, LMT, NBR, NDAQ, NOK,
OSTK, ORLY, PETS, RHI, STLD, SWK, TSCO, TXN, WHR, XRX, ZION, BX, C, GOOGL, GS, HON,
INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA, STZ, APOL, BKS,
KBH, MON, MU, NKE, SCHN,
More than 10% - TWTR,
CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS, SUNE, UA, VRSN, X
Negative Reactions – CREE,
GOGO, JDSU, RAX, SCTY, YELP, CTSH, MYL, AEM, AET, AKAM, BWLD, BZH, CL, CMI,
COP, DDD, ESI, GLW, GRMN, HLF, JEC, KRFT, LNG, MTW, RYL, SLCA, UPL, UPS, VRTX,
XOM, ALK, ALXN, AMZN, ANGI,
ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC, FCX, GM, HOG, ILMN, JNPR, KLAC, KMB,
KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX, STI, STO, T, TPX, TRIP, TRV, UTX, V,
XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT, SLB, SNDK, STX, USB, YHOO, FAST,
FDO, CAMP, BBBY, GIS, CCL, WAG,
More than -10% - AMD,
ANGI, BWLD, CAMP, DHI, HLF, MXIM, P, SNDK, XLNX,
Reversal in progress –
GIS, WAG,
Reversal of Initial
Reaction – BBBY, YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is pointed UP at 32.
____________________
Setups
Horizontal Breakout: SOXL,
P, AAL, AIG, CTRP, ETFC, IBM, MS, SFUN, SOHU, SWI, SWKS, TPX, VRSN, AAPL, CELG,
CMCSA, ESRX, EXPE, GILD, MAR, NFLX, SBUX,
Diagonal Breakout: IWM,
SBUX, AA, EMC, LOCO, CTXS, MU
Bull Flag:
SCSS, SSYS, SCTY, TLT, Z, EBAY, ROST, WDC,
Potential Bullish
Divergence:
Gap Down: VJET, XONE,
C- Pattern: IWM, FAS, SOXL, SPY, AIG, ATI, BBY, SUNE,
UBNT, ADBE, AKAM, AMZN, AVGO, KLAC, MU, NXPI, TXN, TER, TRIP, SNDK, STX,
Moves
New Highs: LNKD,
MFRM, X, TSLA, BRK.B, CAR, BITA
H Breakout: SPY, QQQ,
FAS, AAPL,
D Breakout: DAL, RCL, CTXS, MU, STX, TXN,
Bull Flag Bounce: TWTR,
UA, BIDU, FB, INTC,
Gap Up:
Gap Down: CREE, JDSU
Bounce:
MACD Divergence Bounce:
FEYE,
C- Pattern: YELP, EA,
DAL, GTAT,
Support Break:
______________________
81 of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: VRTX, BIIB, INTC, SIRI, CELG, MU, TRIP, AMZN,
ADSK, GOOG
Lagging NDX stocks included: FFIV, WDC, MAT, GMCR, NFLX, PCLN, CTRX, SNDK,
TRIP, VRTX
Leading stocks > +2% on Wednesday
included: CSIQ, P,
JD, JASO, TSL, FEYE, YOKU, UAL, SWKS, DAL, QIHU, Z
Lagging stocks < -2.0% included:
JDSU, SFUN, LOCO
Stocks to Watch on Thursday
Holding Above 30 DMA= 43
CHRW,
BIDU, INTC, WDC, SYMC, GILD, SBAC, NTAP, EBAY, COST, FB, BBBY, CERN, EXPE,
REGN, AMGN, CTXS, FFIV, PCLN, ISRG, YHOO, SPLS, ESRX, DLTR, TSLA, FOXA, MSFT,
NFLX, ADP, CTRX, DISCA, MNST, NVDA, ROST, WFM, AAPL, ATVI, CHKP, INTU, MAR, PAYX, BIIB, EQIX
Moving Above 30 DMA =
7
ADSK, ALXN, CELG, FISV, SIAL, SIRI, VRSK
Moving Below 30 DMA = 2
ORLY, TSCO
Staying Below 30 DMA
SRCL, DTV, AKAM, CHTR,
CMCSA, CSCO, GOOG, LMCA, SBUX, VOD, VRTX, ADBE, MDLZ, EXPD, PCAR, MU, MYL, AMZN,
HSIC, KLAC, LINTA, AVGO, DISH, ILMN, QCOM, TRIP, ALTR, GMCR, KRFT, LLTC, NXPI,
TXN, VIAB, XLNX, AMAT, LBTYA, VIP, SNDK, MAT, ADI, GRMN, FAST, MXIM,
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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