Two sectors moved
higher on Wednesday…XLU, XLE and XLV were the strongest sectors and
XLF was the weakest.
Breadth was weakened as decliners led advancers 1.52 to 1
on the NYSE and 1.75 to 1 on
the NASDAQ.
Wednesday – weakened,
decliners led
Tuesday – strengthened,
decliners led
Monday – NASDAQ
strengthened, decliners led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
SPY down 1.22 at 200.86 on 192.9 million shares, above average volume
VIX up 0.92 at 21.48…
TNX down .53 at 18.37…
TLT up 1.00 at 132.82...
XLF down .34 at 23.50 on 57.9 million shares
AAPL down .42 at 109.80 on 48.9 million shares
FB down .17 at 76.28…on 25.9 million shares
Technical Commentary:
IWM -0.40%,
QQQ -0.55%, SPY -0.60%,
DIA -1.09%.
S&P futures fell before the open
on a
weaker than expected December retail sales report with a downside surprise
at -0.9%, excluding gas and auto retail
sales were still down -0.3%. Economic reports generally have a short-term
effect and just before 2 pm ET, the SPX fell to last week’s
short-term support level at 1,992 where buyers again stepped in and the
SPX rallied over 20 points in the last two hours of trading.
The SPX has closed lower for seven of the
first nine trading days in 2015.
SPX leaders included GME, NFX, OKE,
CHK, MHK, MNST, EOG, PXD, STJ, ISRG and TSN.
Oil +2.51,
+5.4% rallied
and natural gas +0.34, +11.7% was up
for the second straight day. UNG gained
+11.65% to close at 16.68.
Q4 earnings season continued today as JPM -2.03, -3.45% gapped lower and -0.60, -1.16% opened lower and closed above it
opening price.
LLTC +0.45,
+1.00% gapped
higher after earnings on Tuesday but closed below its open forming a black candle.
MNST +4.62, +4.09% price target raised to 130 by Stifel Nicolaus.
RUT Movers: XON, BBRY, RSPP, HLSS, ADVS, ESPR, SLCA, PE,
PDCE, FANG, MTDR, ZLTQ, SYRG, PENN, NPO
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 = 203.91, 205.10, 208.97...
QQQ = 102.44, 103.11, 105.26…
IWM = 117.89, 118.72, 121.41…
Support Levels
SPY = 198.85, 196.77...
QQQ = 99.62, 98.20…
IWM = 114.36, 112.61...
Earnings this week:
Thursday: BAC, C, INTC, FAST, TSM
Q4 Earnings Reaction
Positive Reactions – SNX,
LLTC,
More than 10% -
Negative Reactions – AA,
JPM, KBH, WFC,
More than -10% - KBH,
Reversal in progress –
Reversal of Initial
Reaction –
The SPX Market Forecast is pointed down at 50.
___________________
20 out of 100 NDX stocks
closed higher and one was unchanged on Wednesday.
Leading NDX 100 stocks included: MNST, ISRG, GILD, SPLS, ATVI, NXPI, EA, LLTC,
GOOG, CELG
Lagging NDX stocks included: VIAB, TSLA, DISCA, CHTR, ALTR, MU, TRIP, ROST,
CTXS, ALXN
Leading stocks > +2% on Wednesday:
UNG, BBRY, GME, GPRO, JCP, BBY
Lagging stocks < -2.0% included:
AA, ATI, CREE, FAS, UAL, SCHW, AMBA,
DAL, BAC, MS, ETFC, X, CAR, V
Stocks to Watch on
Thursday
Holding Above 30 DMA = 23
ROST, SPLS, WFM, SIAL,
BIIB, CHKP, KRFT, VRTX, MNST, ISRG,
SRCL, AVGO, CERN, HSIC, WDC, CA, CSCO, CTSH, FISV, NXPI, PAYX, SIRI, CELG
Moving Above 30 DMA =
2
EA, ESRX
Moving Below 30 DMA = 4
CHRW, CMCSA, LMCA, TSCO
Staying Below 30 DMA
COST, DLTR, GILD,
ILMN, MAR, QCOM, AAL, ADP, FB, GMCR, LVNTA, STX, TRIP, BBBY, CTRX, DTV, EBAY,
FAST, MDLZ, MSFT, MYL ORLY, SBUX, VRSK, ADI, AKAM, AMAT, BRCM, CHTR, DISCA,
FOXA, KLAC, LBTYA, LLTC, NFLX PCAR, PCLN, VIAB, ADSK, EXPD, MAT, MU, ADBE,
ALTR, CTXS, DISH, EQIX, GOOG, INTC, INTU, SYMC, TXN, YHOO, AAPL, LRCS, NVDA,
REGN, NTAP, SNDK, AMGN, VOD, XLNX, ALXN, ATVI, SBAC, AMZN, GRMN, BIDU, TSLA,
VIP, WYNN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
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