Six out of nine sectors
moved higher on Wednesday…XLF, XLY and XLI were the strongest sectors and XLU
was the weakest.
Breadth weakened slightly as advancers
led decliners 1.04 to 1 on the NYSE and strengthened 1.38 to 1 on the NASDAQ.
Wednesday – mixed, advancers led
Tuesday – strengthened,
advancers led
Monday – mixed, mixed
Friday – weakened,
decliners led
Thursday – weakened,
decliners led
SPY up .56 at 211.92 on 87.7 million shares
VIX down .58 at 13.6…
TNX up 1.00 at 23.66…
TLT down 1.92 at 117.52…
XLF up .21 at 24.87 on 33.2 million shares
AAPL up .16 at 130.12 on 30.9
million shares
FB up 2.00 at 82.44
on 31.7 million shares
Technical Commentary:
SPY +0.26%,
QQQ +0.30%, DIA +0.41%, IWM +1.00%.
The RUT – IWM led the broad market on Wednesday
with gains in RVNC, SNCR, HRTX, STCK, GWRE, GIII, SPPI, HALO, LGND, MNKD,
ESPR, GPI, CUZ, WETF, ACIW and COLM.
The SPX rose led by gains in financials
C, BAC, WFC, JPM, SCHW, MS and GS. SPX leaders
included CHRW, FTR, URBN, EXPD, VIAB, PVH, BF/B, PCP, FB, AIG, GDX and HOT.
The broad market up a little up
trend continued today with the indexes making gains while remaining in
consolidation. QQQ and IWM are in a horizontal breakout setup,
while SPY and DIA are in a bull flag pattern.
The Euro rose for the second straight
day.
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 = 212.91, 213.91...
QQQ = 110.38, 111.16…
IWM = 125.47…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.76, 106.80, 105.55…
IWM = 122.52, 120.87, 120.24...
The SPX Market Forecast is pointed down at 67.
___________________
Setups
Horizontal Breakout: QQQ,
BX, GOGO, JD, LC, MS (long term), SOHU, TPX, YOKU, CREE, AMZN, BIDU, CMCSA,
Diagonal Breakout: JCP,
MBLY, QIHU, SFUN, SLCA, SPWR, SWI, TASR, BBY, JDSU, MTW, VJET, GRMN, STX,
Bull Flag: PANW, SWKS, BRCM, XLNX
At Support: DGLY,
C- Pattern:
Moves
New Highs: AIG, AMBA, SCHW, GILD,
H Breakout: IWM, C, GIMO,
RCL, SINA, FB, GOOGL,
D Breakout: IWM, ATI, FAS, EMC, LVS, XONE
Bull Flag Bounce: P, ANGI,
AKAM, DTV, QCOM,
Bounce: NCLH, TWTR, COST, ILMN,
MACD Divergence Bounce:
JASO, RAX, VRSN, MAR, WYNN,
Gap Up: BAC, CCL, STI,
LNKD
______________________
Watch List Stocks
Leading stocks > +2% on Wednesday: SFUN, SINA, AMBA, GIMO, TPX, SEDG, AIG, SLCA,
SCHW, MBLY, ZNGA
Lagging stocks < -2.0% included: YNDX, CTRP, SUM, SWKS, DGLY, Z, UNG, YELP
64 of 100
NDX stocks closed higher on Wednesday.
Leading NDX 100 stocks included: CHRW, EXPD, VIAB, FB, WYNN, TSCO, LMCA
Lagging NDX stocks included: CHTR, MU, NXPI, LBTYA, TRIP, INTC, AAL
NDX Stocks to Watch on
Thursday
Moving Above 30 DMA =
12
CTRX, DLTR, EXPD, FAST, GRMN, ISRG, LMCA, SIRI, VIAB, VRSK,
VRTX, WDC
Moving Below 30 DMA = 4
CTXS, INTC, KLAC, TXN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
