Five sectors moved
higher on Wednesday…the strongest sectors
were XLF, XLY and XLU…the weakest sector was XLK.
Breadth weakened as decliners led advancers 1.38 to 1 on
the NYSE and 1.07 to 1 on the NASDAQ.
Wednesday – strengthened, decliners led
Tuesday – strengthened,
decliners led
Monday – weakened, decliners
led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
SPY down .38 at 211.37 on 88.5 million shares
VIX down .10 at 12.12…
TNX down .18 at 23.22…
TLT up .74 at 119.60…
XLF up .19 at 25.58 on 29.4 million shares
AAPL down 5.53 at 125.22 on 115.3
million shares, above average volume
FB down 1.35 at 97.04 on 28.2 million
shares
Technical Commentary:
QQQ -1.13%, DIA
-0.37%, SPY -0.18%, IWM
+0.37%.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Earnings Week of July 13
Monday – EXAS, HAL, HAS, IBM, MS,
ZION
Tuesday – BHI, CMG, GPRO, HOG, ILMN,
IBKR, LLTC, MSFT, SKX, TRV, VZ, VMW, YHOO,
Wednesday – ALTR, AXP, AAPL, BA,
CHKP, KO, FFIV, FTNT, LVS, QCOM, RCL, SNDK, TSCO, XLNX,
Thursday – MMM, AMZN, CA, CMCSA, DOW, ETFC, FCX, FSL, GM,
GIMO, JNPR, KLAC, MCD, NDAQ, OSTK, P,
PHM, LUV, SBUX, TRIP, UA, UNP, UAL, VRSN, V,
Friday – AAL, BIIB, SAVE, STT,
Q1 Earnings Reaction
Positive Reactions – WHR, CHKP, PKG, TMO, VMW, ACE, APH,
OC, BA, IPG, CLI, MANH, LAD, WWW, HAS, HAL, GOOG, HTZ, HON, GE, NFLX, SCHW, EBAY, C,
USB, DAL, BAC, WFC, JPM, NKE, AA
More than 10% - GOOG, GOOGL, HTZ, NFLX,
Negative Reactions – AAPL, ILMN, BEAV, LLTC, MSFT,
YHOO, EXAS, STI, UNH, MAT, KEY, YUM, FAST, CUDA, MU
More than -10% - BEAV, CUDA, MU
Reversal in progress –
Reversal of Initial
Reaction –
Short-term Chart Targets:
SPY = 212.59, 214.90...
QQQ = 114.41, 116.43…
IWM = 125.63, 128.55…
Support Levels
SPY = 210.78, 208.94...
QQQ = 111.13, 110.00…
IWM = 124.75, 123.37...
The SPX Market Forecast is moving up and is at 89.
___________________
Setups
Horizontal Breakout: AMBA,
CCL, ETFC, EXPE, GME, HPQ, SVXY, UA, UNG, ROST (long term),
Diagonal Breakout: CYBR,
AAL,
Bull Flag: SPY, STI, TPX, V, W, EA
Moves
New Highs: AIG, BAC,
C, FAS, NKE, SCHW, CELG, ESRX, MNST, SBUX, WBA,
H Breakout: BABA, DAL,
GLNG, SONC, ZION, HOG, UAL,
D Breakout: HABT, EMC
MACD Divergence Bounce:
SLCA, BBY, CAR, EMC, LOCO,
Bounce: IWM, JUNO, MS, MYL, NTAP,
Gap Up: CMG, WHR,
CHKP, PKG, TMO, ACE, MANH,
Gap Down: QQQ, SWKS, UBNT, ANGI, AAPL, AVGO, BRCM, ILMN, TXN, LLTC
Support Break: IBM, SUNE, TSL, XLNX,
______________________
Watch List Stocks
Leading stocks > +2% on Wednesday: GLNG, AMBA, JUNO, FOGO, JCP, OCN,
SONC, C, BAC
Lagging stocks < -2.0% included: SUNE, ATI, SWKS, TSL, DGLY, SOHU, SHOP,
YELP, SEDG, X, FIT, SFUN, W
45 of 100
NDX stocks closed higher on Wednesday
and one was unchanged.
Leading NDX 100 stocks included: ISRG, CHKP, MNST, STX, DISCA, BIDU, CELG,
TSCO, GMCR, AAL
Lagging NDX stocks included: ILMN, LLTC, ADI, MU, BIIB, AAPL, MSFT, AVGO,
SNDK, NXPI
NDX Stocks to Watch on
Thursday
Moving Above 30 DMA = 3
CHKP, CTSH, VRSK
Moving Below 30 DMA = 8
AAPL, ADBE, BIIB, CA, GILD, MSFT,
QCOM, ILMN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
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