All nine sectors again
moved lower on Wednesday…XLY, XLE and XLB were the strongest sectors and
XLU was the weakest.
Breadth was mixed as decliners led
advancers 1.81 to 1 on the NYSE and
1.31 to 1 on the NASDAQ.
Wednesday – mixed, decliners led
Tuesday – weakened,
decliners led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
Thursday – Christmas
Holiday
SPY down -2.06 at 205.54 on 130.3 million shares
VIX up 3.28 at 19.20…
TNX down .20 at 21.70…
TLT up .24 at 125.92...
XLF down .28 at 24.73 on 24.2 million shares
AAPL down 2.14 at 110.38 on 41.4 million shares
FB down 1.20 at 78.02…on 20 million shares
Technical Commentary:
IWM -0.60%, DIA
-0.88%, SPY -0.99%, QQQ
-1.03%.
2014 is in the books with a terrific
year that
finished with a pullback on the last two days forming a bull flag going into
2015. The broad indexes finished
2014 with positive annual gains; NDX +19%, SPX
+12.5%, DJIA +8.5%
and RUT +4.65%.
The SPY
closed lower on the last day of the year.
The SPX was led to the downside by weakness in DO, FE, NE ETR,
NRG, EXC, PEG, HOY, PPL and DOV.
The IWM finished the year with a bull
flag pullback test of
the recent breakout of the yearlong sideways channel. IWM short-term Chart Target: 124.07; 6-month Chart
Target: 136.30
SPY, IWM, QQQ, DIA, XLK, XLP, XLU, EA,
EBAY, FB, QCOM, STX, WDC, BX, CIEN, CRM, EMC, ETFC, GLW, JNPR, LNKD, MTW, PANW,
RAX, SCHW, SWKS and V are
in bull flag patterns. SOHU gave
a flag bounce entry.
Look for bull flag setups in stocks that are up trending or
reversal breakouts from stocks that recently pulled back.
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 Chart Targets:
SPY = 207.33, 209.06, 210.49...
QQQ = 106.94…
IWM = 119.90, 121.88, 124.07…
Support Levels
SPY = 207.33, 204.24...
QQQ = 103.08, 102.40…
IWM = 118.34, 116.15...
The SPX Market Forecast is at 89.
___________________
17 out of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: TSCO, NXPI, MAT, LVNTA, ISRG, SPLS, REGN,
BRCM, BBBY, AAL
Lagging NDX stocks included: VIP, DISCA, CSCO, EBAY, AAPL, MDLZ, SNDK,
AKAM, WYNN, NVDA
Leading stocks > +2% on Wednesday:
TSL, Z, SOHU, CSIQ, JASO, SUNE
Lagging stocks < -2.0% included:
UNG, RWLK, DGLY, FAS, GPRO, AMBA, FEYE,
LC
Stocks to Watch on Friday
Holding Above 30 DMA = 53
ROST, DLTR, AAL, ORLY, SPLS, TSCO, BBBY, PCAR, EA, AMAT, WFM, AVGO, WDC, ADI, EBAY, FOXA, SIAL, BIIB, CHKP, CHTR,
CMCSA, CSCO, DISCA, FAST, FB, HSIC, KLAC, KRFT, LBTYA, LVNTA, QCOM, STX, TRIP, VIAB,
VRSK, BRCM, CERN, CHRW, COST, FISV, ISRG, MAR, MU, SRCL, ADSK, CTRX, DTV, ESRX,
EXPD, PCLN, SBUX, VRTX, MAT
Moving Above 30 DMA =
1
NXPI
Moving Below 30 DMA = 20
ADBE, AKAM, ALTR, CA,
CELG, CTSH, CTXS, DISH, EQIX, GOOG, INTC, INTU, LLTC, LMCA, MNST, MYL, SIRI,
SYMC, TXN, YHOO
Staying Below 30 DMA
AAPL, ADP, ILMN, LRCX, NVDA, REGN, MSFT, NTAP, PAYX, SNDK, AMGN,
VOD, GILD, XLNX, MDLZ, ALXN, ATVI, SBAC, AMZN, GRMN, BIDU, TSLA, VIP, GMCR,
WYNN, NFLX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
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