Two of nine sectors
moved higher on Wednesday…XLF, XLE and XLV were the strongest sectors and
XLP was the weakest.
Breadth strengthened as led
advancers led decliners 1.39 to 1 on the NYSE and
1.31 to 1 on
the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners led
Monday – strengthened, advancers led
SPY down 0.48 at 204.50 on 110.14 million shares
VIX up 0.18 at 16.87…
TNX down .17 at 21.09…
TLT up .92 at 127.20...
XLF up .15 at 23.97 on 29.6 million shares
AAPL down 2.27 at 122.24 on 68.9 million shares
FB up .02 at 77.57…on 20.2 million shares
Technical Commentary:
IWM +0.62%,
DIA -0.19%, SPY -0.23%,
QQQ -0.58%.
RUT/IWM bounced on Wednesday as SPY,
QQQ and DIA drifted lower. SPY,
DIA and QQQ are in bull flag price pattern.
Numerous bull flag price patterns are ready for a potential bounce on
Thursday.
The SPX/SPY
break of short-term support and the MFC green line pointed down below 80
indicates a defensive
posture at this time.
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 = 206.26, 208.97...
QQQ = 107.57, 108.94…
IWM = 121.41, 122.92…
Support Levels
SPY = 205.05, 204.13,
203.35, 200.94...
QQQ = 105.73, 104.59,
103.44…
IWM = 120.19, 119.08,
117.97...
Earnings this week:
COST, MYL, AMBA, BBY, CIEN, CSIQ, CTRP, JD,
PANW, SSYS, TSL, VSLR
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 – 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 at 62.
___________________
Setups
Horizontal Breakout: AMBA,
BBY, RAX, SCSS, UNG, SNDK
Bull Flag: SPY, QQQ, AIG, BX, C, CIEN, CREE, CRM,
CSIQ, EXPE, FEYE, FSLR, GOGO, JDSU, JUNO, SCHW, SLCA, STI, TSL, TWTR, UA, ZION,
AAPL, ADBE, AVGO, CMCSA, COST, EBAY, GMCR, GOOGL, MNST, PCLN, ROST, SBUX, TRIP,
TXN, WFM
Moves
New Highs: SWKS
Breakout Test: CMGE,
Bull Flag Bounce:
IWM, PANW, UPL,
Bounce: ETFC, SUNE, AKAM,
MYL
Gap Down: SPY, IWM, C, FAS
Support Break: BBRY, CAR, KKD, CYBR, VRSN, ADBE, ADSK, BRCM, DTV, MU,
STX,
______________________
40 out of 100 NDX stocks
closed higher on Wednesday.
Leading NDX 100 stocks included: MYL, SNDK, INTC, VRSK, TSLA, AKAM, AAL, ISRG,
NFLX, MU
Lagging NDX stocks included: BIDU, QCOM, WYNN, AAPL, SYMC, MAT, LBTYA, WDC,
ILMN, BIIB
Leading stocks > +2% on Wednesday:
UPL, SUNE, UNG, SLCA, JASO, VXX, X, C, UAL, BAC, ZION
Lagging stocks < -2.0% included:
EMC, CMGE, CREE, GME, DGLY, JD, JUNO,
ANGI, LVS, NTES
Stocks to Watch on
Thursday
Holding Above 30 DMA = 45
SIAL, MNST, CTSH, NXPI, SIRI, ATVI, BIIB, DLTR,
VRSK, COST, GOOG, EXPD, VIP, LBTYA, LMCA, NVDA, ROST, TXN, ADBE, CHTR, CMCSA,
PAYX, ADI, AKAM, ADSK, AVGO, INTU, MAR, PCLN, LVNTA, TRIP, CHKP, DISCA, EBAY,
QCOM, SRCL, VIAB, VRTX, CHRW, GMCR, SNDK, EQIX, REGN
Moving Above 30 DMA =
2
MYL, ORLY
Moving Below 30 DMA = 7
AAPL, ALXN, AMZN, CSCO,
FB, SBAC, SBUX
Staying Below 30 DMA
ALTR, BRCM, CA, CERN, DISH, DTV, EA, FISV, FOXA, LLTC, LRCX, NTAP, TSCO,
WFM, XLNX, AMAT, AMGN, BIDU, CELG, ESRX, GILD, ILMN, MDLZ, NFLX, WDC, ADP,
CTXS, PCAR, HSIC, KLAC, MSFT, MU, SPLS, STX, TSLA, CTRX, SYMC, AAL, BBBY, ISRG,
VOD, WYNN, GRMN, KRFT, YHOO, FAST, INTC, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
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