Five of nine sectors
moved higher on Wednesday…XLB, XLF
and XLI were the strongest sectors…XLE was the weakest
sector.
Breadth strengthened…advancers led decliners…1.78 to
1 on the NYSE and 1.14 to 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – mixed,
decliners led
Friday – weakened, decliners led
Thursday – strengthened,
advancer led
Wednesday – strengthened, advancers led
SPY up .27 at 200.75 on 151.1million shares, above average volume
VIX down .08 at 12.65…
TNX up .11 at 26.00…
TLT down .29 at 112.80...
XLF up .10 at 23.58 on 44.5 million shares, above average volume
AAPL up .72 at 101.58 on 60.8 million shares
FB up .35 at 76.43…on 28.6 million shares
Technical Commentary:
DIA +
0.12%, SPY + 0.13%, QQQ + 0.15%, IWM + 0.26%.
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: ADBE,
Q2 Earnings Reactions
Positive Reactions – LULU,
PANW, ULTA, 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% - ULTA,
LULU, 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 – KKD, 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 84.
____________________
Setups
Horizontal Breakout: SPY,
AIG, C, NTES, SWI, V, ZION, UNG, ADSK, AVGO, DTV, FFIV, GMCR, INTC, MNST, SNDK,
TXN,
Diagonal Breakout: BX,
FEYE, GME, IBM, KNDI, NKE, P, SUNE, SWKS, ZU, CREE, CELG, ESRX, GILD, GOOG, MYL,
QCOM,
Bull Flag: BBRY, SPLK, UAL,
CTXS, MSFT, YHOO
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: VJET, `
C- Pattern:
Moves
New Highs: MS, RCL,
SCHW, MAR,
H Breakout: FAS, XLNX,
D Breakout: ATI, GLW, UA, BIDU, BRCM,
Bull Flag Bounce:
Gap Up: FSLR, SPWR, TSL,
X, WFM,
Gap Down: RAX,
Bounce: AA, CAR,
CSIQ, GOGO, GPRO, HPQ, JASO, JD, PANW, AAPL,
MACD Divergence Bounce:
QIHU, LVS,
C- Pattern:
Bear Flag:
Support Break: ANGI, HOG, ADBE, WYNN,
______________________
65 of 100 NDX stocks
closed higher on Wednesday and one was
unchanged.
Leading NDX 100 stocks included: WFM, ILMN WYNN, DISH, MU, KLAC, BIDU, XLNX,
PAYX, CHKP
Lagging NDX stocks included: ADBE, ATVI, CTRX, KRFT, BBBY, GRMN, ALXN, AMZN
Leading stocks > +2% on Wednesday
included: X, CSIQ, TSL,
FEYE, JASO, SSYS, GPRO, GOGO, SCHW, CAR, ETFC, SPWR
Lagging stocks < -2.0% included:
RAX, SFUN, YNDX, YY
Stocks to Watch on Thursday
Holding Above 30 DMA= 62
INTC,
SYMC, SBAC, NTAP, COST, BBBY, CERN, AMGN, CTXS, FFIV, ISRG, YHOO, MSFT, ADP,
CTRX, MNST, ROST, CHKP, MAR, PAYX, FISV, SIRI, VRSK, AKAM, AVGO, DISH, KLAC,
LMCA, ALTR, AMAT, BRCM, TXN, FAST, NXPI, SNDK, GMCR, CMCSA, DTV, KRFT, VTX,
SPLS, CHTR, DLTR, EXPD, QCOM, INTU, AAPL, CSCO, LBTYA, ADSK, CA, CELG, ESRX, FB,
GILD, GOOG, ILMN, MXIM, MYL, ORLY, REGN, XLNX
Moving Above 30 DMA = 6
BIDU, CHRW, LLTC, MU, SIAL, WFM
Moving Below 30 DMA = 4
CTRX, EXPE, KRFT, NVDA
Staying Below 30 DMA
ADBE, AMZN, ATVI, EQIX, FOXA, LINTA, NFLX, STX, TRIP, TSLA, VIP,
ALXN,HSIC, EBAY, SBUX, SRCL, TSCO, DISCA, MAT, ADI, VOD, BIIB,WDC,
GRMN,PCLN,PCAR,CTSH, WYNN, MDLZ, VIAB
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Neutral/Up
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