Seven out of nine
sectors moved higher on Wednesday…XLY, XLV and XLF were the strongest sectors and XLE
was the weakest.
Breadth strengthened as decliners led advancers 1.58
to 1 on the NYSE and 1.77 to 1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners
led
Monday – strengthened,
advancers led
Friday - Holiday
Thursday – strengthened,
advancers led
SPY up .69 at 207.97 on 89.2 million shares, 14% below average volume
VIX down .80 at 13.98…
TNX up .02 at 18.95…
TLT up .04 at 131.13…
XLF up .09 at 24.21 on 18.5 million shares, 33% below average volume
AAPL down .41 at 125.60 on 37.2 million shares, 26% below average volume
FB down .04 at 82.28…on 18.9 million shares, 23% below average volume
Technical Commentary:
DIA +
0.18%, SPY + 0.34%, QQQ + 0.79%, IWM + 0.86%.
Chinese New Year was on Feb 19 and 2015 is
the year of the goat. YOKU +14.52%, SINA +11.48% and
QIHU +11.17% have been looking like
goats since Feb 19 but that changed today on heavy volume.
Even BABA +3.87% gained.
The NDX +31.88
was led by
point leaders MYL, AMZN, BIDU, AMGN, CMCSA, GILD, BIIB, YHOO, GOOG, REGN,
CELG, NFLX, SBUX, VRTX and CSCO which accounted for 21.9 points.
MYL’s +14.76% bid, $205, for PRGO +18.39% made the stocks the SPX’s biggest
gainers. Other leading SPX stocks
included NFLX, DAL, DLTR, LUV, YHOO, MNK, JBL, DG, VRTX, M, DRI and
AAL,
RUT leaders included DYAX, XON,
CVLT, KITE, NBIX, AGIO, PENN, WETF and BLUE.
Earning’s season started after the close with
negative reactions from AA -3.22% which
beat on earnings and missed on revenues and BBBY -3.15%
which missed on earnings, revenues and guidance.
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 = 208.61, 211.11...
QQQ = 106.82, 109.07…
IWM = 125.94…
Support Levels
SPY = 204.12, 203.49...
QQQ = 104.24…
IWM = 122.90, 121.54...
Q1 Earnings Reaction
Positive Reactions – KMX, DGLY, CTRP,
JUNO, KBH, MFRM, NKE,
More than 10% - DGLY, CTRP, JUNO,
Negative Reactions – MU, YOKU, XONE,
More than -10% - YOKU,
Reversal in progress –
Reversal of Initial
Reaction –
The SPX Market Forecast is
pointed up at 42.
___________________
Setups
Horizontal Breakout: IWM,
BABA, BX, C, CREE, FSLR, GME, GPRO, MBLY, PANW, SCSS, SPLK, STI, SWI, UA, UBNT,
YELP, ZION, EMC, LVS, MTW, VJET, XONE, YNDX, ZU, ADSK, PCLN, TSLA, XLNX,
Diagonal Breakout: BBY,
CIEN, CSIQ, FEYE, LNKD, MS, NKE, RAX, SCHW, SPWR, SSYS, SWKS, TPX, UBNT, V, JNPR,
KKD, AVGO, GILD, GOOGL, ILMN, MU, NTAP, ROST, SBUX, STX, TRIP, WDC, YHOO,
Bull Flag: AMBA, ETFC, JCP, JUNO, MFRM, RCL, SCSS
Gap Down: AA, BBBY
At Support: WFM
Moves
New Highs: CMGE,
CTRP, EXPE, JD, NTES, SUNE, UA, TAN, VRSN, MYL,
H Breakout: CMGE, FEYE,
NTES, SOHU, ZNGA, HOG, P, AMZN,
D Breakout: SINA, YOKU, YY, NFLX
Bull Flag Bounce: NCLH,
Bounce: BABA, DAL,
DGLY, ETFC, JUNO, KNDI, UAL, AAL, CELG, MAR,
MACD Divergence Bounce:
Z,
Gap Up: CMGE, QIHU, SFUN,
BIDU,
Gap Down: ANGI
______________________
81 out of
100 NDX stocks closed higher on Wednesday.
Leading NDX 100 stocks included: MYL, BIDU, NFLX, DLTR, YHOO, VRTX, AAL, REGN,
GMCR, LRCX,
Lagging NDX stocks included: VIP, SBAC, STX
Leading stocks > +2% on Wednesday:
CMGE, QIHU, DGLY, SOHU, JD, NTES, JUNO, LOCO, DAL, CTRP, BABA, SSYS, ZNGA, FEYE,
SCTY, UBNT, TPX, Z,UA, JCP, AMBA, SPLK
Lagging stocks < -2.0% included: UPL, ATI,
Stocks to Watch on Thursday
Holding Above 30 DMA = 34
MNST,
NXPI, COST, LVNTA, SRCL, CERN, FB, SIAL, KRFT, ORLY, ADI, ALTR, BBBY, EA, EQIX,
VRSK, XLNX, CTRX, ESRX, FISV, ISRG, MDLZ, CHTR, LMCA, VIP, CA, CTXS, DISCA, HSIC, TSLA, AKAM, CHKP, MYL,
REGN
Moving Above 30 DMA = 16
ADP, ADSK, AMGN, ATVI, BIDU, BIIB, CMCSA, CTSH,
DLTR, DTV, INTU, NFLX, PCLN, SBUX, VRTX, YHOO
Moving Below 30 DMA = 0
Staying Below 30 DMA
AAPL,
SIRI, AVGO, SPLS, AAL, EXPD, ROST, FAST, PAYX, PCCAR, GOOG, ALXN, CELG, CHRW, EBAY,
FOXA, MAR, MSFT, SBAC, SNDK, TRIP, TSCO, TXN, BRCM, KLAC, LBTYA, LLTC, NVDA,
VIAB, ADBE, GILD, ILMN, AMAT, GMCR, QCOM, CSCO, DISH, LRCX, NTAP, WFM, WDC, MU,
STX, SYMC, VOD, WYNN, GRMN, INTC, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
