Three of nine sectors moved higher on Wednesday …XLK, XLV and XLB were the strongest
sectors while XLP was the weakest sector. Oil futures fell .73 to close at 41.91.
Breadth weakened as decliners led 1,597 to 1,379 on the NYSE and advancers led 1,485 to 1,095
on the NASDAQ.
Wednesday
– weakened, advancers led on NASDAQ, +3
Tuesday –
strengthened, advancers led, +5
Monday – weakened, decliners led, +1
Friday – strengthened, advancers led, +9
Thursday – weakened, decliners led, +2
SPY down .23
at 216.52 on 84.0 million shares, 15%
below average volume
VIX down .22
at 12.83
TLT up 1.73 at 140.65…on
8.5 million shares, 7% below average volume
Technical Commentary:
QQQ +0.69%, IWM +0.28%, DIA -0.01%,
SPY -0.11%,
QQQ,
IWM, XLK new high
XLI, bull
flag bounce
XLB, XLY,
horizontal break out setup
XLF, bull
flag setup
XLV bull
flag bounce
The FOMC ended its two-day meeting on Wednesday with
no change in interest rates as expected.
Consider
moving up stops on short term bullish trades that could pull back. All according to your profit protection
rules.
Remember
breakouts typically test about 70% of the time.
Earnings Reactions
GRMN +5.40, +11.64%
X +2.54, +11.07%
STT +5.43, +9.31%
ILMN +12.15, +8.09%
AAPL +6.28, +6.50%
TWTR -2.68, -14.53%
AKAM -7.58, -13.05%
RHI -4.59, -11.07%
GCI -1.25, -9.40%
TSS -5.10, -9.04%
After-hours
GRPN +0.90, +23.81%
CRUS +6.08, +14.56%
MRVL +1.07, +9.17%
FB +5.59, +4.53%
WFM -1.74, -5.17%
Earning’s Announcements:
Positive Reactions: GRMN, STT, ILMN, AAPL, EW, ZION, GT, NDAQ, GRPN,
CRUS, MR VL, FB
Negative Reactions: TWTR, AKAM, RHI, GCI, TSS, WYN, R, JNPR, LVLT,
UHS, EQR, CHRW, WFM
Technical analysis based trades should be closed before earnings. After-hours
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: HCN, LMT,
CNP, CMG, COST, NKE, AIV, EA, INTU, ATVI, MAT, CINF, PCLN, CCL, JNJ, DHI, UNH, CCI,
UA, ALB, BMRN, SBUX, MSFT, GGP, KSS, SPG, CBL, MAC, CNP, CTXS, TSN, PAYX, FISV,
CSX, MNST, ESRX, CF, VRSK, ORLY,
Bull Flag Bounces include: BMRN, CCL,
Horizontal Breakout Setups include: ZION, STT, XLB, SCHN, STLD,
AMAT, JD, AA, NUE, AMBA, JBLU, SWN, VIAB, AES, AAL, NCLH, TRIP, IRM, RCL, TSLA,
Horizontal Breakout include: FB, BURL, LRCX, ADSK,
New Highs include: X, GRMN, TXN, FB, QCOM, REGN, CPA, WHR, EW, ADI, NTES,
DLTR, EBAY, NVDA, URI, GPS, ROST, CSCO, EXPE, KMX, STX, CERN, MLM, TJX, CBG,
LB, NTAP, TGT, BXP, ULTA, BIIB, AMBA,
______________________
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
The SPY MFC green line is in the upper zone at 96, bullish.
38 of 100
NDX stocks closed higher and one was
unchanged on Wednesday.
85
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 5
AKAM, CTSH, MDLZ, MNST, PYPL
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
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