Two out of nine sectors
moved higher on Wednesday…XLP, XLB and XLI were the strongest sectors and XLK
was the weakest.
Breadth strengthened as decliners
led advancers 2.08 to 1 on the NYSE and 1.13 to 1 on
the NASDAQ.
Wednesday – strengthened, decliners led
Tuesday – weakened,
decliners led
Monday – weakened
slightly, advancers led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
SPY down .86 at 208.04 on 135 million shares, 44% above average volume
VIX up .84 at 15.15…
TNX up .64 at 22.40…
TLT down 2.10 at 120.56…
XLF down .12 at 24.24 on 29.7 million shares, 19% above average volume
AAPL down .79 at 125.01 on 72.1 million shares, 53% above average volume
FB up .54 at 78.10
on 28.6 million shares,
14% above average volume
Technical Commentary:
QQQ -0.69%, SPY
-0.41%, DIA -0.35%, IWM
+0.35%.
The Euro +157 pips bounced in a bull flag pattern. Interest rates rose and bonds fell. Oil rose above $62 a barrel before
selling pressure moved oil back to a $60.70 close.
The RUT formed a hammer and rose as money began to
flow back into small caps today. GEVA +107.52, +112.15% rose on a buyout $8.4 billion
buyout from ALXN -13.54, -8.03%.
RUT gainers also included BRDR,
MGI, USNA, WD, WIX, SRPT, ICUI, SWC, PLCE, REXX, ZEN, GMED, DYAX, PAYC, TSRA,
GSAT, RIGL, PZZA, KITE and ESPR.
The SOX -0.95,
0.14% bounced on
Friday from strong buying pressure.
Sellers took over on Monday and Tuesday and pushed the SOX back
to last Thursday’s low at today’s open.
Buyers once again stepped up and began accumulating stock all day before
pushing the semis higher during the last 90 minutes of trading to close near
even for the day. Buyers were aggressive
today in BRCM, CAVM, ARMH, MRVL, NXPI, FSL, ATML, TSM, TER, AMAT, NVDA and
LLTC. Buying pressure was also
seen in AVGO, SWKS and MU.
SUNE reports earnings before the open on Thursday.
The SPX
was led by gains in WU, ANTM, EXPD, EA, AIZ, RAI, KR, CVC, VMC and
CNX.
TSLA +3.17,
+1.38% on earnings beat after the close. Indicates that demand for its recently
announced Powerwall battery storage product is “crazy off the hook” and
suggests it will double demand for electric cars.
GMCR -11.78,
-10.90% on earnings miss and WFM -5.42, -11.36%
on revenue miss after the close.
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 = 210.33, 210.70,
211.40...
QQQ = 109.17…
IWM = 123.44, 125.55,
127.13…
Support Levels
SPY = 207.62, 205.39...
QQQ = 107.06, 106.50, 105.55…
IWM = 120.66, 119.47...
Earnings Week of April 27 – AAPL, CHRW, AET, COH, F, GLW, PFE, UPS, VLO, AKAM, ESRX,
VRSK, WDC, WHR, WYNN, GPRO, GRMN,
MDLZ, SLCA, SWI, TPX, X, BIDU, MAR, NXPI, VRTX, CAH, LLL, XOM, YELP, ADP, CELG,
TASR, VIAB, UPL, AIG, CME, EXPE, FEYE, FSLR, LNKD, SWKS, V, GILD, CVX, MCO, WY
Earnings Week of May 4 – CMCSA, CTSH, DO, HSIC, APC, DVA, EOG, XEC, ADM, CAR, DIS, DISCA,
DTV, HCA, ICE, K, NBL, SFUN, ALL, CTRP, DVN, EA, FISV, FOSL, FTR, HLF, LC, NFX,
NWSA, PXD, SCTY, Z, CHK, DDD, EXPD,
ATVI, CF, FOXA, GMCR, MET, MRO, PRU, RIG, TSLA, WFM, APA, BABA, BDX, GOGO,
PCLN, REGN, SIAL, SUNE, CA, CBS, CERN, CSIQ, CYBR, LBTYA, MCHP, MNST, NVDA,
SPWR, UBNT, ZNGA, JD, LMCA
Q1 Earnings Reaction
Positive Reactions – HLF, EA, EXPD, FISV, LC, SCTY, CTSH, DO,
HSIC, ICE, MNK, EL, OCN, MRC, SWKS, TER, EXPE, TASR, AET, AIG, CME, F, FEYE, GILD, LEG, LYV, MDLZ, NXPI, SLCA, TDS, TPX,
UPL, UPS, VRSK, WY, AMZN, MSFT, JNPR, SBUX, GOOGL, CVX, AAL, CTXS, CAM,
EBAY, FFIV, ORLY, SWK, T, ALTR, BAX, BRCM, DOW, EMC, HP, ILMN, KO, MCD, NDAQ,
YUM, ABT, ATI, LRCX, PCAR, ARMH, AMGN, HAS, CHKP, HAL, MS, STI, NFLX,
CE, MAT, C, DAL, FAST, INTC, JPM, LLTC, STZ, WBA, KMX, DGLY, CTRP,
JUNO, KBH, MFRM, NKE,
More than 10% - HLF, GPRO, OCN, MRC, TER, AMZN, MSFT, ATI, HAS, NFLX, CE, DGLY,
CTRP, JUNO,
Negative Reactions – CHK, DDD, NWSA, ALL, FOSL, FTR,
NFX, Z, PXD, APC, CAR, DISCA, DTV, DVA, EOG, HCA, K, NBL, SFUN, XEC, NSM, AVP, AAPL, AKAM, ATHN,
BIDU, CAH, CELG, CHRW, COH, ESRX, FSLR, GLW, GRMN, LLL, MAR, PFE, SWI, TWTR, V,
VIAB, VLO, WDC, WHR, HBI, BIIB, STT, TXN, XLNX, MMM, SRCL, SWN, ALXN,
CMG, CREE, DHR, FB, FCX, HSY, ISRG, KLAC, PEP, PG, BA, HOG, TRV, UA, UNP, URI,
YHOO, DD, BHI, RCL, AXP, BAC, GS, JNJ, SNDK, AA, BBBY, MU,
GME, YOKU, XONE,
More than -10% - FTR, NSM, AVP, LNKD, YELP, TWTR, X, WYNN, NOW,
AMD, YOKU,
Reversal in progress –
GS,
Reversal of Initial
Reaction – AA, WDC,
FCX, GME, MU, YOKU, XONE
The SPX Market Forecast is pointed down at 62.
___________________
Setups
Horizontal Breakout: AIG,
Diagonal Breakout: BBY,
LC, MBLY, UNG, COST, ILMN,
Bull Flag: AA, BX, C, CSIQ, DGLY, ETFC, EXPE, IBM, MS,
NTES, RAX, SINA, TPX, UPL, YOKU, JNPR, YY, GILD, MSFT
Gap Up: TSLA
Gap Down: GMCR, WFM
At Support: SPY, TSL, LVS, CMCSA, TXN, WDC
Moves
New Highs:
H Breakout: TBT
Bull Flag Bounce: AMBA,
SCTY,
Bounce: SWI, UBNT, VRSN,
AAL, BRCM, CELG, MAR, YHOO,
MACD Divergence Bounce:
KR, GLW, NCLH,
Gap Up: EA, EXPD,
Gap Down: WLT, ZU, DDD, NWSA, FTR, FOSL, ALL
Support Break: QQQ, FEYE, HPQ, JD, CAR, EMC, AAPL, ADSK, EBAY, ESRX, MU,
SBUX, STX,
______________________
36 of 100
NDX stocks closed higher on Wednesday.
Leading NDX 100 stocks included: EXPD, EA, ATVI, FISV, VOD, BRCM, NXPI, DLTR,
CELG, REGN
Lagging NDX stocks included: ALXN, MSFT, VRSK, MYL, STX, BIDU, WYNN, WDC,
DISCA, GMCR,
Leading stocks > +2% on Wednesday:
ZNGA, LC
Lagging stocks < -2.0% included: JD, CSIQ, JASO, SLCA, GME, TSL, FSLR
Stocks to Watch on
Thursday
Holding Above 30 DMA = 34
SIAL, XLNX, CTRX, MDLZ, VIP, CTXS, TSLA, MYL, DTV,
NFLX, PCLN, SBUX, PCAR, STX, VOD, MAT, AKAM, CSCO, INTC, MU, SYMC, AMZN, EA,
MSFT, BRCM, LRCX, FAST, INTU, LBTYA, NVDA, ALTR, SPLS, GILD, MNST, REGN
Moving Above 30 DMA = 4
ATVI, CHKP, EXPD, ILMN
Moving Below 30 DMA = 6
ADP, DISCA, EBAY, ORLY,
VRSK, WDC
Staying Below 30 DMA
AAPL, ADBE, ADI, CHTR, CMCSA, CTSH, ESRX, FOXA, HSIC, KLAC, LLTC, LMCA,
LVNTA, NTAP, NXPI, PAYX, QCOM, VIAB, VRTX, GMCR, MAR, SIRI, KRFT, VIP, BIDU,
CA, GOOG, TSCO, AAL, CERN, CMCSA, FISV, GRMN, WYNN, ADSK, AMGN, CELG, SBAC, SPLS,
ALXN, BIIB, FB, SRCL, AVGO, ISRG, TXN, YHOO, WBA, DLTR, BBBY, COST, ROST, CHRW, SNDK, TRIP,
AMAT, DISH, WFM
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
