Four sectors moved
higher on Wednesday and five moved lower…the strongest sectors were XLF…XLU…and
XLV…the weakest sector was XLE.
Breadth weakened as decliners led advancers 1.49 to 1 on the NYSE and 1.82 to 1 on the NASDAQ.
Wednesday – weakened, decliners led
Tuesday – weakened,
advancers led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
Thursday – strengthened,
advancers led
SPY down .07 at 210.61 on 97.4 million shares
VIX down .14 at 13.23…
TNX down .49 at 23.50…
TLT up 1.23 at 117.30…
XLF up .21 at 25.21 on 50.4 million shares
AAPL up 1.21 at 126.82 on 33.5
million shares
FB up .08 at 89.76 on 30.8 million
shares
Technical Commentary:
QQQ +0.11%,
DIA +0.01%, SPY -0.03%, IWM – 0.53%.
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
Tuesday – CSX, FAST, JNJ, JPM, WFC,
YUM
Wednesday – BAC, DAL, INTC, NFLX, USB
Thursday – C, EBAY, GOOGL, GS, KEY,
MAT, SCHW, SLB, UNH
Friday – GE, HON, STI
Q1 Earnings Reaction
Positive Reactions – NKE, AA
More than 10% -
Negative Reactions – CUDA, MU
More than -10% - CUDA, MU
Reversal in progress –
Reversal of Initial
Reaction –
Short-term Chart Targets:
SPY = 208.02, 209.16,
209.96...
QQQ = 108.01, 108.86, 109.66…
IWM = 124.51, 125.63…
Support Levels
SPY = 205.76, 204.22...
QQQ = 106.55, 105.75…
IWM = 122.82, 121.53...
The SPX Market Forecast turned up and is at 52.
___________________
Setups
Horizontal Breakout: QQQ,
AXTA, BX, FAS, JCP, MS, PANW, V, MFRM, VRSN, ESRX, MAR, TRIP, WFM,
Diagonal Breakout: AAPL,
AVGO,
Bull Flag: GME, UA, EA, WBA,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: ASNA, SINA, AA, LOCO,
C- Pattern:
Moves
New Highs: AIG, MBLY,
STI,
H Breakout: C, DAL,
D Breakout: ESI,
Breakout Test:
Bull Flag Bounce:
MACD Divergence Bounce:
Bounce: DAVE,
Gap Up: BAC, CAR, LNKD,
CELG,
Gap Down: ATI,
C- Pattern:
Bear Flag:
Support Break: FOGO, HABT, KKD, SHAK, X, P,
______________________
Watch List Stocks
Leading stocks > +2% on Wednesday: BAC, FIT, UNG
Lagging stocks < -2.0% included: FOGO, HABT, X, ATI, YOKU, SINA, CTRP,
SHOP, JD, SFUN, TSL, SHAK QIHU, CYBR, SCTY, SPWR, KKD, TWTR, SOHU, YELP, W,
SLCA, GLNG, SUNE, SONC, NTES, FEYE, TBT, YY
38 of 100
NDX stocks closed higher on Wednesday
and one was unchanged.
Leading NDX 100 stocks included: CELG, VRTX, CHTR, LBTYA, AAPL, FAST, CMCSA,
NTAP, FOXA, TRIP
Lagging NDX stocks included: MU, WYNN, VIP, BIDU, NFLX, CHRW, NXPI, MYL,
AMAT, KHC
NDX Stocks to Watch on
Thursday
Moving Above 30 DMA = 3
AAPL, CSCO, DTV
Moving Below 30 DMA = 6
ADSK, AKAM, CHRW, ISRG, NFLX, PAYX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up/Neutral
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