All nine sectors moved
higher on Wednesday…XLE, XLU and XLB were the strongest sectors and
XLF was the weakest.
Breadth strengthened as advancers
led decliners 4.61 to 1 on the NYSE and advancers led decliners 1.64 to 1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened, mixed
Monday – strengthened,
advancers led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
SPY up 2.50 at 210.46 on 228.4 million shares, double average volume
VIX down 1.69 at 13.97…
TNX down 1.07 at 19.51…
TLT up 2.49 at 131.49…
XLF up .14 at 24.70 on 47.8 million shares, above average volume
AAPL up 1.43 at 128.47 on 65.1 million shares
FB up 1.54 at 80.91…on 36.7 million shares, above average volume
Technical Commentary:
DIA +
1.25%, SPY + 1.20%, QQQ + 0.98%, IWM + 0.80%.
Wednesday’s FOMC announcement
triggered broad based rally. Prior to 2
pm ET, the SPX
was negative and only two sectors were positive for the day. After the announcement, all nine sectors
rallied strong driving the SPX +25.22, +1.22% on
Wednesday.
The Euro rallied, bonds rallied and
even oil closed higher.
IWM broke out of horizontal resistance
to a new all-time high close.
Short-term breakout chart target: 127.73.
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 = 208.97...
QQQ = 107.57, 108.94…
IWM = 123.78, 124.85, 126.22…
Support Levels
SPY = 206.26, 205.05,
204.13...
QQQ = 105.73, 104.59,
103.44…
IWM = 122.77, 120.19,
119.83...
Earnings this Week
CTRP, JUNO, MFRM, NKE, XONE, YOKU,
Q4 Earnings Reaction
Positive Reactions – AVGO, CRM, MNST, ROST, ADSK, GOGO, SPWR,
ESRX, CMCSA, ANGI, CAR, INTU, JWN, RAX, MAR, NEM, PCLN, Z, TRIP, FEYE,
CSCO, NVDA, AKAM, WFM, Z, EEFT, TMH, CTLT, SKX, NTES, WCG, ADP, ATVI,
CTSH, FISV, ONNN, ORLY, SIRI, UA, VRSN, AMZN, AAPL, ALXN, BRCM, BX,
CAVM, CELG, EA, FB, FSL, GLW, HOG, JNPR, TSCO, TSS, TUP, VIAB, WDC, X, NFLX,
ALK, BHI, CREE, DAL, EBAY, ETFC, GE, HON, KMB, LUV, MXIM, SBUX, SWKS, TRV, UAL,
UNH, UNP, SNX, LLTC, TSM
More than 10% - AVGO, MNST, CRM, SPWR, ANGI, UPL,
TRIP, FEYE, EEFT, TMH, MLM, SEE, LNKD, TWTR, UBNT, ONNN, AMZN,
BIIB, NFLX, FSL, EA, TUP, X
Negative Reactions – XONE, JCP, SPLK, LL, LC,
HPQ, SCTY, ZU, ZNGA, NTAP, BIDU, TSLA, HSIC, KRFT, SFUN, SOHU, ATML,
CHRW, FOXA, GILD, GMCR, SRCL, SYMC, WYNN, QCOM, JDSU, RCL, BABA, PCAR,
YHOO, MSFT, STX, VRTX, AAL, ZION, AXP, ALTR, FFIV, IBM, ISRG, JNJ, KLAC,
KSU, MCD, STT, XLNX, AA, BAC, C, JPM, KBH, WFC,
More than -10% - LL, LC, TPX, ZU, ZNGA, EXPE,
GPRO, YELP, P, TPX, QCOM, FFIV, KBH,
Reversal in progress – ZNGA, AAL, AXP, BAC, BIDU, CHRW, FFIV,
GILD, ISRG, JNJ, KBH, KLAC, MSFT, NTAP, SOHU, STX
Reversal of Initial Reaction – AA, ALTR, ATML, C, BAC, IBM, KBH,
KSU, MCD, FOXA, GMCR, HSIC, JDSU, JPM, KSU, PCAR, QCOM, SFUN, SRCL, SYMC, WYNN,
XLNX, STT, TPX, TSLA,WDC, VRTX, WFC, ZION
The SPX Market Forecast is rising and at 66.
___________________
Setups
Horizontal Breakout: SPY,
BABA, CAR, CIEN, CSIQ, EXPE, FAS, FEYE, FSLR, GME, JASO, JD, JDSU, NTES, PANW, RCL,
SPWR, STI, TSL, UAL, UBNT, UNG, UPL, X, CCL, TAN,
Diagonal Breakout: ANGI,
CMGE, GPRO, LVS, TWTR, V, Z,
Bull Flag: AMBA, C, LOCO, MS, ZION
Bear Flag: CREE, GPRO, HOG, JCP, KKD, LVS, SOHU,
Moves
New Highs: IWM, AIG, BBY,
RAX, SCSS, UA, VSLR, NCLH, VRSN,
H Breakout: AIG, FAS,
JASO, TLT,
D Breakout: FEYE, IBM, QIHU, SSYS
Bull Flag Bounce: BX, CMGE,
SINA,
Bounce: ATI, CAR, CRM,
DDD, DGLY, EMC, GLW, HOG, HPQ, LNKD, NKE, RCL, SLCA, SPLK, X, XONE, Z, ANR,
MACD Divergence Bounce:
ESI, GLD, SCTY, X, YOKU
Bear Flag: DAL,
Support Break: SCHW,
VXX, TBT
______________________
84 out of 100 NDX stocks
closed higher on Wednesday and two were
unchanged.
Leading NDX 100 stocks included: BIDU, MYL, VIP, FOXA, TSLA, STX, EA, CA, VOD,
CTSH
Lagging NDX stocks included: ADBE, MAT, LRCX, EBAY, NVDA, DISCA, WYNN,
GMCR, ROST, BBBY
Leading stocks > +2% on Wednesday:
X, SLCA, CMGE, ATI, XONE, DDD, CAR, SCTY, SSYS, UPL, LVS, ESI, YOKU, SPLK,
SOHU, Z, RCL
Lagging stocks < -2.0% included:
JUNO, VXX, SCHW, JCP
Stocks to Watch on Thursday
Holding Above 30 DMA = 56
MNST,
CTSH, NXPI, SIRI, ATVI, BIIB, DLTR, VRSK, COST, GOOG, EXPD, VIP LBTYA, LMCA,
NVDA, ROST, ADBE, CHTR, CMCSA, PAYX, ADI, AKAM, ADSK, AVGO, INTU, MAR, LVNTA,
TRIP, CHKP, EBAY, SRCL, VRTX, CHRW, GMCR,SNDK, EQIX, REGN, MYL, ORLY, CERN, FB,
SBUX, TSCO, AAL, ALTR, AMGN, CELG, FISV,
ISRG, LLTC, SIAL, TXN, XLNX, AAPL, ALXN, FAST, YHOO
Moving Above 30 DMA =
8
AMAT, BIDU, BRCM, CA, FOXA, PCAR, PCLN, SBAC
Moving Below 30 DMA = 1
DISCA
Staying Below 30 DMA
ADP, BBBY, ILMN, LLTC, VIAB, AMZN, QCOM, CSCO, DISH, DTV, EA, LRCX, NTAP, WFM, ESRX, GILD,
MDLZ, NFLX, WDC, CTXS, HSIC, KLAC, MSFT,MU, SPLS, STX, TSLA, CTRX, SYMC, VOD,
WYNN, GRMN, KRFT, INTC, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
