Eight sectors moved higher
on Wednesday…XLU, XLP and XLI were the strongest sectors while XLE was the weakest sector.
Breadth
strengthened as advancers
led decliners 4.59 to 1 on the NYSE and 2.75 to 1 on the NASDAQ.
Wednesday –
strengthened, advancers led
Tuesday – strengthened,
advancers led
Monday
– strengthened, decliners led
Friday
– weakened, decliners led
Thursday
– mixed, mixed
SPY up 3.00
at 208.03 on 196.9 million shares
VIX
down 3.09 at
17.86…
TNX up .19 at 22.87…
TLT down .26 at 121.18…on 10.9 million
shares
XLF up .39 at 24.44…on 83 million shares
AAPL up
.85 at 111.34 on 56.2 million shares
FB up 2.24 at 106.79 on 22.6 million
shares
Technical Commentary:
DIA +1.24%, SPY +1.46%, QQQ
+1.49%, IWM +1.53%.
The Fed, as
expected, raises rates ¼%, seven years to the day after its last rate
decrease. As typical, volatility increased at
the announcement and the SPX dropped
14 points
in 60 seconds and rose 19 points in the next seven minutes before
dropping 13
points in the next 20 minutes followed by a 23 point rally into the
close.
(click image to enlarge)
Solar stocks
led
by SCTY +34.06%,
SUNE +25.45%, RUN +22.55%, SEDG +17.10%,
SPWR +14.26% and FSLR +9.68% sizzled
on volume surge as Congress extended tax credits on Wednesday.
(click image to enlarge)
The NDX +67.23 points was led by AMZN, MSFT, FB and GOOG.
Chart
Formations:
AMZN – bounce to horizontal breakout setup
MSFT – bounce to horizontal breakout setup
FB – diagonal
breakout
GOOG – diagonal
breakout
(click image to enlarge)
30 DMA Breakout Setups – AAL, ADSK, BIDU, BMRN, CHTR, CSCO, EBAY, FISV, GILD, HSIC,
LLTC, LMCA, ORLY, SIRI, STX, TSCO, VIP, VOD, XLNX
Trade with the trend of the chart you are
trading and continue to move your profit protection stops. Continue
to follow your rules.
The SPX MFC green line is turned up at
33.
Short-term Chart Targets:
SPY =...209.73…
QQQ = 115.29…
IWM = 116.17…
Support Levels
SPY
= 204.80
QQQ
= 112.17
IWM = 112.83
IWM = 112.83
__________________
Setups
Horizontal Breakout: ETFC, KWEB,
QIHU, SCHW, SFUN, STI, TSL, AMZN, ATVI, ILMN, JD, NVDA,
Diagonal Breakout: AA, AMBA, BABA, BAC, C, GLW, JNPR, NKE, SLCA, V,
CMCSA, ORLY
Moves
New Highs: DAL, NTES, ULTA,
ADBE, MSFT,
H Breakout: FSLR, RUN, SCTY,
SEDG, SPWR,
D Breakout: IWM, QQQ, SPY, MPEL, RCL,
TPX, YNDX, ADSK, EBAY, FB, GILD, GOOGL, TSLA,
Bull Flag Bounce: GOGO, LNKD,
MFRM, PLAY, AVGO, NFLX, YHOO,
MACD Divergence Bounce: AAPL,
Bounce: QRVO, RAX, UA, YELP, SWKS,
Gap Up: CSIQ, FSLR, JASO,
SCTY, SEDG, SPWR, SUNE
______________________
91 of 100 NDX stocks closed higher
on Wednesday.
55 NDX stocks are
above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving
Above 30 DMA
= 13
ADP, AMZN, FAST, FB, INTU, KHC, MDLZ, NFLX, PAYX, REGN, TSLA,
WBA, YHOO
Moving Below 30 DMA = 0
6-month Intermediate Term Market Trend:
Neutral
3-day Short Term Market Trend: Up
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