Seven of nine sectors moved higher on Wednesday…XLE,
XLU and XLK were the strongest sectors while XLV was the
weakest sector for a second straight day.
Oil futures rose +1.88 to
close at 38.60.
Breadth strengthened as advancers led decliners 4.28 to 1 on the NYSE and 1.50 to 1 on the NASDAQ.
Wednesday
– strengthened, advancers led
Tuesday –
weakened, decliners led
Monday – weakened, decliners led
Friday – strengthened, advancers led
Thursday - weakened, decliners led
SPY up 1.17
at 203.34 on 129.3 million shares, 4% above average volume
VIX down 1.85
at 14.99…
TNX down .21
at 19.38…
TLT up
.38 at 128.26…on 9.7 million shares, 4% above average volume
XLF down .05
at 22.36…on 58.7 million shares, 18% below average volume
AAPL up 1.39
at 105.97 on 38.3 million shares, 1% above average volume
FB up 1.51
at 112.18 on 24.7 million shares, 28% below average volume
Technical Commentary:
QQQ +0.89%, IWM +0.71%, SPY
+0.58%, DIA +0.48%.
The
SPX has been trending up for over four weeks.
Big money knew the FOMC announcement would be today and still they were
buyers over the past four weeks. VIX was
falling during that same time
indicating fear was falling.
FOMC
leaves rates unchanged, indicated they
would raise only twice in 2016 rather than four times. After a whipsaw in volatility at
2 pm ET, the prior trend continued.
The
SPX made its highest close in 2016 and
highest since Dec 31, 2015. The VIX for its part made its lowest close in
2016 and its lowest close since Dec 4, 2015.
The
DJIA was led by gains in CAT, MSFT, AAPL, IBM, UTX, CVX, VZ and BA as 22 of 30 stocks moved higher.
NDX
point leaders MSFT, FB, GOOG, AAPL, GILD, CHTR, CSCO, CMCSA and PCLN.
NDX percentage gainers: CHTR,
CTR, ENDP, VIAB, LBTYA, DISCA, MNST, NTES, NVDA, NCLH, JD, YHOO, AKAM, SWKS,
NTAP and TSLA.
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: DG, ESV, CNX,
CLF, DIS, DD, GE, JPM, RIG, PG, GME, GPRO, TASR, CAVM, MYL, ETFC,
Bull Flag Bounces include: FTI, IVZ, PXD, DHI, WMB,
NFLX, XOM, CAT, TSO, BIDU
Horizontal Breakout Setups include: XLB, XLF, XLI, RRC, NRG, FCX,
HES, MRO, DO, COP, FTI, IVZ, WRK, APA, RCL, FSLR, QRVO, SBUX, CMCSA, INTC, GME,
EA, SWKS, ATVI, WMT, LNC, COST, AMZN, TRIP, UDR, GILD, PYPL, ROST, STX, C, WFC,
SCHW, NKE, GT, BIDU,
Horizontal Breakouts include: XLE, DVN, EQT, OKE, NFX,
CXO, NWSA, HAR, COG, NSC, CCL, FB, ADI
______________________
Short-term Movers:
SPX gainers: CPGX, APC, DVN, RRC, DG, NRG, EQT, FCX, OKE, HPE, SWN, MJN,
HES, MRO, WHR, NFX, CXO, HOT, NWSA, AES, HAR, COG, DO, VTR, ESV, PSA, COP, FTI,
NSC, IVZ, BXP, PXD, WY, WRK, ANTM, APA, DHI, RCL, MUR, OI, NKE, URI, EXR, WYNN,
NWL, LNC, CMA, BWA, AMT, CNX, NBL, NEM, NOV, FSLR, ZION, EQIX, CCL, LM, SIG,
KMI, 5
SPX losers: MNK, FOSL, PM, BBY, AGN, CHK, BMY, AN, MCK, CF, KORS,
MOS, 3
NDX gainers: ULTA, TRIP, CTRP, EXPE, NTES, TSLA, ATVI CHTR, DLTR, JD,
SYMC, SWKS, LRCX, CTSH, AAPL, AVGO, MNST, LBTYA, AMAT, PCLN, SBUX, NCLH, GOOGL,
CSX, GV, NVDA, SRCL, SBAC, NXPI 4
NDX losers: ENDP,
INCY, ALXN, VRTX, BMRN, CELG, MAT 3
YTD:
SPX Leaders: NEM, FCX, CNX, KORS, URBN, RRC, COG, CTL,
KMI, SE (275, +35, > 10p 95)
SPX Losers: WMB, ESV, RCL, MPC, MNK, ADS, CBG, BAC, MS, MCK
NDX Leaders: MAT, FAST, PCAR, PYPL, FISV, CHTR, ROST,
ISRG, CA, AMAT (43, +4)
NDX Losers: ENDP, INCY, VRTX,
REGN, ALXN, MU, BMRN, WDC, ILMN, TRIP
DJI Leaders: VZ, WMT, CAT, MMM, XOM, UNH, CVX, KO, JNJ, MCD
(15, 0)
DJI
Losers:
GS, AXP, BA, JPM, PFE, INTC, V, DIS, DD, GE
Remember: “It’s
a market of stocks, not just a stock market.”
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 pointed up at 96.
82 of 100
NDX stocks closed higher on Wednesday.
87
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
TMUS
Moving Below 30 DMA = 0
3-day Short Term Market
Trend: Up
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