Five of nine sectors
moved higher on Wednesday…XLU, XLV
and XLE were the strongest sectors…XLK was the weakest
sector.
Breadth weakened as decliners led advancers 1.19 to
1 on the NYSE and 1.75 to 1 on the NASDAQ.
Wednesday – weakened,
decliners led
Tuesday – weakened, mixed
Monday - holiday
Friday – strengthened, advancers led
Friday – strengthened, advancers led
Thursday – weakened, decliners led
SPY down .11 at 200.50 on 57.3 million shares, below average volume
VIX up .11 at 12.36…
TNX down .09 at 24.10…
TLT up .65 at 117.38...
XLF down .04 at 23.411 on 19.6 million shares
AAPL down 4.36 at 98.94 on 125 million shares, double the volume
FB down .85 at 75.83…on 32.2 million shares
Technical Commentary:
DIA +
0.08%, SPY – 0.05%, QQQ – 0.59%, IWM – 0.63%.
Traders continue to
follow your entry rules.
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 = 200.00, 201.37, 204.32...
QQQ = 99.75,
101.13…
IWM = 115.73, 117.06, 118.76...
Support Levels
SPY = 197.59, 196.24,
195.16...
QQQ = 99.08, 97.99,
97.51…
IWM = 115.51, 114.31,
113.49...
Earnings This Week: MFRM, CIEN,
Q2 Earnings Reactions
Positive Reactions – MFRM, SPLK,
AVGO, CRM, GPS, TFM, FL, AMAT, CSIQ, GME, HPQ, PCLN, NTES, ROST, SINA, 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% - MFRM, SPLK, TWTR,
CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS, SUNE, UA, VRSN, X
Negative Reactions – CIEN, BBY,
QIHU, TSL, ADSK, CREE, GOGO,
JASO, JDSU, JWN, M, RAX, YOKU, 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 – AET, AKAM, ALXN, AMZN,
ATI, EA, GIS, GRMN, ILMN, KO, KRFT, LNG, P, RYL, STX, TPX, VRTX,
Reversal of Initial
Reaction – BBY, BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX, SLCA, UPL, YELP,
YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is at 95.
____________________
Setups
Horizontal Breakout: AA,
C, CTRP, FSLR, GLW, GME, LNKD, NKE, RAX, STI, TPX, X, ADBE, BIDU, BRCM, CMCSA,
COST, NFLX, TXN, ADP, ADSK, ALTR, BBBY, CMCSA,
Diagonal Breakout: JASO,
P, V, ZION, GOOG, ADBE,
Bull Flag: AIG, BBY, JCP,
JD, SWKS, EBAY, GMCR, INTC, STX, WDC, AMGN,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: CAR, GTAT, KNDI, QIHU, SINA, ESI,
C- Pattern:
Moves
New Highs: AVGO, EXPE,
MAR, ATVI, BIDU, BRCM,
H Breakout: BBRY, SFUN,
SPWR, XLNX, CA, CTRX,
D Breakout: EMC, NTES,
Bull Flag Bounce:
Gap Up: RCL, TSL, YNDX,
Gap Down: UNG, CHRW,
Bounce:
MACD Divergence Bounce:
LVS,
C- Pattern:
Support Break: AAPL,
______________________
57 of 100 NDX stocks
closed higher and two were unchanged on Wednesday.
Leading NDX 100 stocks included: XLNX, SPLS, VIP, ADSK, BRCM, CERN, BIDU, CTRX,
FOXA
Lagging NDX stocks included: AAPL, MYL, CHRW, PCLN, FFIV, LBTYA, SRCL,
DISCA, TRIP, FB
Leading stocks > +2% on Wednesday
included: GPRO, SFUN,
TSL, FSLR, RAX, BBRY, X,
Lagging stocks < -2.0% included:
FEYE, GTAT, DAL, SOHU, SPLK, LOCO, QIHU,
AAL, TWTR, Z, CSIQ, UBNT
Stocks to Watch on Thursday
Holding Above 30 DMA= 77
INTC, WDC,
SYMC, GILD, SBAC, NTAP, EBAY, COST, FB, BBBY, CERN, EXPE, REGN, AMGN, CTXS,
FFIV, ISRG, YHOO, ESRX, TSLA, FOXA, MSFT, NFLX, ADP, CTRX, DISCA, MNST, NVDA,
ROST, WFM, AAPL, ATVI, CHKP, MAR, PAYX, BIIB, EQIX, ALXN, CELG, FISV, SIAL,
SIRI, VRSK, AKAM, AVGO, DISH, HSIC, KLAC, LMCA, ORLY, STX, VIP, ALTR, AMAT,
BRCM, TXN, ADBE, ILMN, LINTA, TSCO, VOD, FAST, NXPI, SNDK, GMCR, AMZN, CMCSA,
DTV, KRFT, VRTX, MXIM, SPLS, LLTC, XLNX, BIDU, CA, CHTR
Moving Above 30 DMA = 3
ADSK, DLTR, GOOG
Moving Below 30 DMA = 6
CHRW, INTU, LBTYA, MYL,
SRCL, TRIP
Staying Below 30 DMA
ADI, MU,
QCOM, SBUX, GRMN, PCLN, PCAR, CTSH, WYNN, CSCO, MDLZ, EXPD, VIAB, MAT
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up/Neutral
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useful
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