All nine sectors moved
higher on Wednesday…XLV, XLP and XLY were the strongest sectors and
XLE was the weakest.
Breadth was strengthened as advancers led
decliners 3.21 to 1 on the NYSE and decliners led advancers 2.11 to 1 on
the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – mixed,
decliners led
Monday – weakened,
decliners led
Friday – strengthened,
mixed
Thursday – New Year’s
Day Holiday
SPY up 2.64 at 202.46 on 125.1 million shares
VIX down 1.81 at 19.31…
TNX down .09 at 19.54…
TLT down .40 at 131.25...
XLF up .25 at 24.09 on 29.4 million shares
AAPL up 1.86 at 108.12 on 40 million shares
FB up .20 at 76.35…on 22 million shares
Technical Commentary:
DIA +
1.38%, QQQ + 1.35%, SPY + 1.32%, IWM + 1.23%.
Futures rose Tuesday
night and the SPX continued to rise
on Wednesday led by strength in Healthcare,
Consumer Staples and Consumer Discretionary.
JCP +20.27% led retail stocks including DKS
+11.72%, BIG +5.90%, BURL +4.62%,
FRED +4.59%, M +4.10%,
DDS +3.96%, TGT +3.79%,
KSS +3.65%, JWN +3.42%
and DLTR +3.15%.
Healthcare was the strongest sector on Wednesday.
Healthcare and Biotech leaders included BIIB +5.69%, TTPH +5.30%,
TEVA +4.17%, CELG +3.97%,
SLXP +3.64%, AMGN +3.34%
and ILMN +3.29%.
Many bull flags and similar stocks bounced on Wednesday. Look for bull flag setups (see list in Setups) and stocks at similar lows for a
potential bounce entry on Thursday.
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...
The SPX Market Forecast is at 50.
___________________
Setups
Horizontal Breakout: CTRP,
JD,
Bull Flag: DIA, SPY, IWM, XLF, XLI, XLU, XLY, FAS, ETFC,
GLW, UAL, V, KNDI,
CIEN, DAL, AAL, EA, ESRX, QCOM, WDC,
At Support: JASO, YOKU, SINA, AKAM,
Moves
New Highs: AMBA, MNST,
ROST,
H Breakout: ILMN,
Bull Flag Bounce:
XLP, BBY, CAR, JNPR, PANW, SCSS, WFM,
JACK, DPS, HD, LOW, TGT, KR,
Bounce: AA, ATI, BX, HOG,
JDSU, KKD, NTES, SCHW, SPWR, STI, UA, UBNT, VRSN, DDD, LVS, TPX, AAPL, ADBE, AVGO,
BIDU, CELG, COST, GRMN, INTC, MAR, MSFT, MYL, TXN, WYNN
MACD Divergence Bounce:
CREE, NKE, SUNE, Z, SBUX,
Gap Up: JCP, GMCR,
Support Break: MBLY, MU,
______________________
81 out of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: BIIB, GMCR, NXPI, MNST, CELG, BBBY, MYL, AMGN,
ILMN, CTSH, SCO, DLTR, MDLZ, WYNN, REGN
Lagging NDX stocks included: FOXA, ATVI, MU, YHOO, PCLN, AKAM, SNDK
Leading stocks > +2% on Tuesday:
JCP, AMBA, KKD, Z, FEYE, FAS, UA, SUNE, CAR, PANW, BBY, AA, CMGE
Lagging stocks < -2.0% included:
MBLY, GPRO, TWTR, YOKU, UNG, TSL
Stocks to Watch on Thursday
Holding Above 30 DMA = 17
ROST, DLTR, AAL, SPLS,
BBBY, EA, WFM, SIAL, BIIB, CHKP, KRFT, VRTX, ILMN, MNST, COST, ISRG, SRCL
Moving Above 30 DMA = 9
AVGO, CELG, CERN, ESRX, HSIC, ORLY, QCOM, TSCO,
WDC
Moving Below 30 DMA = 0
Staying Below 30 DMA
CA, FAST, NXPI, ADI, AKAM, AMAT, BRCM, CHRW, CHTR, CMCSA,CSCO, CTRX,
DISCA, DTV,EBAY, FB, FOXA, KLAC, LBTYA, LLTC, LVNTA, MAR, NFLX,PCAR, PCLN,SBUX,
TRIP, VIAB, VRSK, ADSK, EXPD, FISV, MAT, MU, STX, ADBE, ALTR, CTSH, CTXS, DISH,
EQIX, GOOG, INTC, INTU,LMCA, MYL, SIRI, SYMC, TXN, YHOO, AAPL, ADP, LRCS, NVDA,
REGN, MSFT, NTAP, PAYX, SNDK, AMGN, VOD, GILD, XLNX, MDLZ,ALXN, ATVI,
SBAC,AMZN, GRMN, BIDU, TSLA, VIP, GMCR, WYNN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
1 comment:
Excellent info. Loved your Wed. stocks trading room clarifying when you prefer to use 1 or 3 green arrows. I had never heard that before as I haven't visited your stocks trading room as much as the others.
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