Seven out of nine
sectors moved higher on Wednesday…XLU, XLP and XLY were the strongest sectors and XLE
was the weakest.
Breadth weakened slightly as advancers led
decliners 1.10 to 1 on the NYSE and
1.10 to 1 on
the NASDAQ where decliners led
advancers.
Wednesday – weakened, mixed
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – weakened,
decliners led
Thursday – weakened,
advancers led
SPY up .34 at 210.59 on 126.6 million shares
VIX down .31 at 14.50…
TNX down .12 at 23.06…
TLT down .92 at 118.15…
XLF down .03 at 25.04 on 45 million shares
AAPL down .30 at 127.30 on 32.8
million shares
FB up .73 at 81.79 on 18.3 million shares
Technical Commentary:
IWM -0.15%, DIA
+0.15%, SPY +0.16%,
QQQ +0.28%
Yellen was once again Queen for the
day as the FOMC announcement
generated its typical volatile ride as the Fed once again left rates
unchanged. Many are expecting the Fed to
raise rates as early as September.
TRIP +11.20,
+14.65% soared after TRIP and MAR announced an instant booking process where travelers
will be able to book rooms in more than 4,200 MAR hotels from the TRIP
Advisor site. TRIP was the biggest
gainer in both the SPX and NDX on Wednesday.
AMBA +4.38,
+3.72 rose to a
new all-time closing high after a two pause which traded above Friday’s
S1.
FB +0.73,
+0.90% after on
analyst buy reiteration and target price raised from 100 to 108.
Cyber security stocks CYBR, PANW, SYMC FEY,
SPLK, QLYS and PFPT rose on Wednesday.
Solar stocks CSIQ, VSLR, SEDG and SCTY
started to sizzle today.
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 = 212.67, 213.78...
QQQ = 110.81, 111.16…
IWM = 127.13, 128.15…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.94, 122.52...
The SPX Market Forecast is pointed down at 43.
___________________
Setups
Horizontal Breakout: IWM,
CIEN (long term), FAS, GIMO (long term), GOGO, GPRO, NKE, SEDG, SFUN, SPLK
(long term), TASR, TSL, CREE, EMC, ZU, CMCSA, NTAP, TSLA,
Diagonal Breakout: SPY,
CCL, NCLH, SWI, V, BBRY, BBY, GLW, VRSN, FB, MAR, MSFT, TXN,
Bull Flag: AIG, C, JD, SVXY
At Support: YNDX, AKAM, MYL, PCLN
Moves
New Highs: AMBA, CYBR,
NTES, PANW, TPX, EA, SBUX,
H Breakout: TRIP,
D Breakout: CRM, MBLY (long term), VSLR
Bull Flag Bounce: GME,
Bounce: BABA, DAL, HPQ, LC, X, ANR, HOG, LVS, MFRM,
MU,
MACD Divergence Bounce:
COST, WDC,
Gap Up: QIHU, SOHU, YOKU,
YY, BIDU
______________________
Watch List Stocks
Leading stocks > +2% on Wednesday:
SFUN, YY, QIHU, YOKU, MBLY, SOHU, CYBR, SINA, GLNG, AMBA, ASNA, PANW, KWEB
Lagging stocks < -2.0% included: JUNO, JD, OCN, SHAK
71 of 100
NDX stocks closed higher on Wednesday
and one was unchanged.
Leading NDX 100 stocks included: TRIP, TSLA, EA, REGN, BIDU, MAT, SYMC, ALXN,
DLTR, WYNN
Lagging NDX stocks included: ADBE, AMAT, VIP, MYL, PCLN, NFLX, CTSH, NXPI,
DISH, VOD
NDX Stocks to Watch on
Thursday
Moving Above 30 DMA = 4
FAST, NVDA, ROST, TRIP
Moving Below 30 DMA = 1
ADBE
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
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