Six of nine sectors
moved higher and one was unchanged on
Wednesday…XLV, XLK and XLF were the strongest sectors…XLU was
the weakest sector.
Breadth strengthened as advancers led decliners
1.14 to 1 on the NYSE and 1.56 to 1 on the NASDAQ.
Wednesday –
strengthened, advancers led
Tuesday – weakened, decliners led
Monday - mixed
Friday – strengthened, advancers led
Thursday – weakened, decliners led
SPY up .75 at 200.07 on 67.2 million shares, below average volume
VIX down .62 at 12.88…
TNX up .34 at 25.34…
TLT down .73 at 114.96...
XLF up .12 at 23.35 on 31.3 million shares
AAPL up 3.01 at 101.00 on 100.8 million shares
FB up .76 at 77.43…on 29.9 million shares
Technical Commentary:
QQQ +0.83%,
IWM +0.59%, SPY +0.38%, DIA +0.32%.
Broad stock indexes
traded higher as SPY formed a
bullish harami, QQQ a gap bullish
engulfing and IWM a piercing
line. Financial stocks bounced (see ETFC,
SCHW, BAC, ZION, GS, MS, C, STI, FAS, AIG) as TNX interest rates
climbed for the fifth straight day.
Bonds TLT dropped to new
short-term low.
AAPL +3.01, +3.07% formed a bullish engulfing after Tuesday’s volatile reaction as it
unveiled its new iPhone 6, 6 Plus, ApplePay and Apple Watch.
EBAY
-1.63, -3.09% gapped lower following news on Tuesday of ApplePay which represents
competition to EBAY’s PayPal.
PANW +9.47, +10.61% gapped higher on a positive earnings reaction leading cloud stocks
SPLK, CTXS, WDAY and NOW higher.
KKD -0.54, -3.07% fell after earnings
missed estimates.
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: KKD, PANW, LULU, VRA
Q2 Earnings Reactions
Positive Reactions – PANW,
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% - PANW, MFRM,
SPLK, TWTR, CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS, SUNE, UA, VRSN,
X
Negative Reactions – KKD,
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, TSL, BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX, SLCA, UPL, YELP,
YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is at 88.
____________________
Setups
Horizontal Breakout:
AA, CRM, FEYE, SCSS, SWI, RCL, SPLK, ETFC, V, BAC, SCTY, SWI, V,
Diagonal Breakout: ATI,
IWM, SWKS, LOCO, NTES, SUNE,
Bull Flag: SPY, BBRY, CAR,
CSIQ, CTRP, FAS, FSLR, GME, HPQ, JCP, JD, VRSN, X, YELP, UPL, GLW, JASO, MBLY,
MS, RAX, SPWR, TPX, TSL, UA, VRSN, YY
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: SFUN, GOGO,
C- Pattern:
Moves
New Highs: GPRO, LNKD,
MSFT, NKE, PANW, SCHW, SSYS, SWI, TWTR, UAL, UBNT,
H Breakout: SCHW,
JDSU, SSYS, STI,
D Breakout: ETFC, V,
Bull Flag Bounce: AIG,
BBY, IBM,
Gap Up: PANW,
Gap Down: KKD, EBAY,
Bounce: C, Z, AAL,
BAC, DAL, EMC, KNDI,
MACD Divergence Bounce:
C- Pattern:
Bear Flag:
Support Break: GTAT,
______________________
74 of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: GRMN, GMCR, AAPL, ALXN, REGN, GILD, MNST,
FFIV, VRTX, TRIP
Lagging NDX stocks included: EBAY, TSCO, WYNN, VIP, MXIM, ALTR, CTRX, TXN,
LINTA, ADSK
Leading stocks > +2% on Wednesday
included: PANW, GPRO,
TWTR, KNDI, FEYE, SSYS, SPLK, JDSU, CSIQ, ETFC, JASO, SCHW, UBNT, YELP
Lagging stocks < -2.0% included:
SFUN, KKD, RAX, QIHU, JD, YY
Stocks to Watch on Thursday
Holding Above 30 DMA= 74
INTC,
SYMC, GILD, SBAC, NTAP, COST, FB, BBBY, CERN, EXPE, REGN, AMGN, CTXS, FFIV,
ISRG, YHOO, ESRX, TSLA, FOXA, MSFT, NFLX, ADP, CTRX, MNST, NVDA, ROST, WFM,
ATVI, CHKP, MAR, PAYX, EQIX, CELG, FISV, SIAL, SIRI, VRSK, AKAM, AVGO, DISH,
HSIC, KLAC, LMCA, ORLY, STX, VIP, ALTR, AMAT, BRCM, TXN, ADBE, ILMN, LINTA,
TSCO, FAST, NXPI, SNDK, GMCR, AMZN, CMCSA, DTV, KRFT, VRTX, MXIM, SPLS, LLTC,
XLNX, BIDU, CA, CHTR, DLTR, GOOG, CHRW, EXPD, MU, QCOM, TRIP, INTU, SBUX
Moving Above 30 DMA =
5
AAPL, ALXN, CSCO, TRIP, WFM
Moving Below 30 DMA = 0
Staying Below 30 DMA
ADSK, CHRW, EBAY, MYL, SBUX, SRCL, TSCO, DISCA, MAT, ADI, VOD, BIIB, WDC, LBTYA, GRMN, PCLN, PCAR, CTSH,
WYNN, MDLZ, VIAB
Sixteen Week Intermediate
Term Market Trend: Up
3-Day Short Term Market
Trend: Down
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