Stocks End Trading Session Sharply Lower...NYSE Trading Halted 3 1/2 Hours...China Stocks Have Large Sell-Off...AA Begins Earnings Season With Positive Results...AA Trading Up In After Hours Trading...

All nine sectors moved lower on Wednesday…the strongest sectors was XLU and XLE was the weakest sector.

 

Breadth weakened as decliners led advancers 5.15 to 1 on the NYSE and decliners led 5.10 to 1 on the NASDAQ.

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led on NYSE

Monday – weakened, decliners led

Friday – Independence Day Holiday

Thursday – weakened, mixed

SPY up 1.30 at 208.02 on 173.8 million shares, 60% above average volume

VIX down .92 at 16.09…

TNX down .47 at 22.31…

TLT up 1.11 at 119.26…

XLF up .05 at 24.59 on 51.2 million shares, 60% above average volume

AAPL down .31 at 125.69 on 46.9 million shares, 22% above average volume

FB down .33 at 87.22 on 33.1 million shares, 49% above average volume

Technical Commentary:

SPY -3.49%, DIA -2.63%, IWM -1.53%, QQQ -1.74%.

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 = 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 DOWN and is at 22.

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Setups

Horizontal Breakout:

Diagonal Breakout: SWI,

Bull Flag: MBLY, TPX, DTV,

Potential Bullish Divergence:

Gap Up: 

Gap Down:

Bear Flag:

At Support:  IBM, TASR, V, DAVE, FB, ILMN, WDC,

C- Pattern: 

Moves

New Highs:  

H Breakout:

D Breakout:  

Breakout Test:  

Bull Flag Bounce:  

MACD Divergence Bounce:  

Bounce:  CYBR, GOGO, NTES, PANW, SFUN, YY, CMGE, VJET

Gap Up:  

Gap Down:  

C- Pattern:  

Bear Flag:  

Support Break: W, ESI, NTAP,

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Watch List Stocks

Leading stocks > +2% on Wednesday: VXX, YY

                                                       

Lagging stocks < -2.0% included: SEDG, SVXY, TSL, CSIQ, JUNO, SOHU, SHAK, VSLR, QIHU, FAS, SHOP, SWKS, SLCA, GLNG, W, X, AXTA

4 of 100 NDX stocks closed higher on Wednesday and one was unchanged.

Leading NDX 100 stocks included: KHC

Lagging NDX stocks included: WYNN, VIP, TSLA, VRTX, NXPI, AVGO, ILMN, MYL, TSCO, AAL

NDX Stocks to Watch on Wednesday

Moving Above 30 DMA = 0

  

Moving Below 30 DMA = 18

ADBE, AMZN, BIIB, CA, CERN, CHRW, CHTR, DISCA, EBAY, ESRX, FAST, HSIC, ILMN, REGN, SRCL, TSCO, TSLA, VRTX,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down