Six of ten sectors moved higher on Wednesday …XLF, XLV and XLI were the strongest
sectors while XLU was the weakest sector. Oil futures rose .51 to close at 45.34.
Breadth strengthened
as advancers led 1,697 to 1,383 on
the NYSE and led 2,036 to 771 on the NASDAQ.
Wednesday
– strengthened, advancers led, +6
Tuesday –
weakened, advancers led, +10
Monday – strengthened, advancers led, +10
Friday – strengthened, advancers led, +4
Thursday – strengthened, decliners led, +4
SPY up 2.27
at 216.38 on 258.4 million shares, 187%
above average volume
VIX down 4.36
at 14.38
TLT down 5.52
at 124.57…on 31.2 million shares, 302% above average volume
Technical Commentary:
IWM +3.08%, DIA +1.41%, SPY +1.06%,
QQQ +0.46%,
Futures
reverse overnight collapse and stock indexes finish higher after unexpected
Trump win Tuesday night.
SPX gains
23 points to 2,163, moving towards all-time highs
VIX confirms the SPX
rise
SPY had its highest buying volume
day since Aug 2015
TLT had its highest
selling volume day since Aug 11,
2011
Clearly
money rotated from bonds and into stocks
DIA
hit a new closing high at 185.96
Steel
stocks X, CLF, AKS, NUE, STLD, ATI, and SCHN gapped up with gains between 6% and 17% on Wednesday.
Airline
stocks SKYW, SAVE, AAL, DAL, UAL, JBLU, LUV and ALK continued their strong short-term uptrend on Wednesday.
NDX point leaders: CELG, AMGN, GILD, BIIB, REGN, ESRX,
VRTX, CMCSA, INCY, CHTR, TMUS, CSCO, ALXN, CSX and SHPG
SPX Leaders: NAVI, URI, REGN, AMP, BEN, ENDP, NUE, VRTX, MLM, CELG,
MNK, FLR, VMC, JEC, ABC, LNC, AA, AGN, CHK, MCK, BIIB, FCX, LLL, CAT, UNM, COG,
RTN, FAST, TROW, MET, MS, PFE, ESRX, ZION, VLO, ALXN, ABBV, HBAN, MRK and CME
EPS Positive Reactions
QVCA,
PCLN, JCI, MAR, SYY, FDC, RACE, CTSH, PCLN, LVS,
UBNT, SLCA, SBUX, MCHP, FOSL, CAR, RIG, DDD, YELP, SHOP, ABC, SQ, HSIC, ZTS,
DVN, NBL, ANTM, ADP, EA, VRSK, ADM, HRS, MOS, CHKP, COH, TSO, RCL, HBI, SRCL, HSY, EMN, VRSN, UBS,
BIDU, CRUS, EXPE, MO, CVX, FFIV, WDC, COP, DOW, AKAM, JNPR, BA, NCR, OI, FLIR,
ROL, TSS, LMT, KEY, FCX, VLO, BHI, SAVE, AKS, TMUS, MCD, PYPL, MSFT, MXIM, AXP, SNA, MAT, BK, STLD, WBA, ALK, URI,
HAL, MS, USB, NFLX, HOG, UNH, GS, CE, DPZ, CMA, UAL, HAS, DAL, CSX, COST, RHT,
FDX, ADBE
EPS Negative Reactions
CVS,
ENDP, NWSA, ALB, IFF, EXPD MNST, ATVI,
FSLR, WYNN, CS, APA, FB, UVE, AIG, CHTR, PAYC, DATA, CAVM, BABA, X, GILD, HLF,
ILMN, NFX, DO, SCTY, AMZN, MCK, ABC,
CAH, GT, ABBV, LM, COG, CA, AMGN, AET, LITE, XOM, CLF, ORLY, NEM, POT, AAPL,
EW, CMG, LUV, CMCSA, UA, P, WHR, PNRA, JBLU, GM, MMM, NLSN, WAT, SHW, MAS, PNR, MCO, EBAY, TRV, LRCX, TSCO, INTC,
ISRG, ST, JNJ, IBM, AA, FAST, ILMN, MU, PAYX, CCL
EPS Neutral Reactions
SWKS, LBTYA, CI, QCOM, FOXA, GOOGL,
PSX, SKYW, BX, CA, TWTR, UPS, TSLA, MO, NXPI, STT, GD, KO, ESRX, VRTX, PCAR, AAL, NUE, XLNX, CTXS, LLTC, BAC, C,
JPM, PNC
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.
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: AKAM, PYPL, NEM, SQ, NFLX, EXPE, HSY,
Bull Flag Bounces include: NVDA, WDC, QCOM, MXIM, VRSN,
NTES,
Horizontal Breakout Setups include: SAVE, ULTA, LUV, ALK, MXIM,
TMUS, MSFT, DPZ, HAS, CMCSA, MDLZ, CCL,
Horizontal Breakouts include: X, SCHN, MS, BAC, USB, ZION,
C, CMA, CE, RCL, STI, TMUS, PCAR, BIDU,
New Highs include: GS, DAL, UAL, AAL, CC, STLD, MLM, AKS, NUE, JPM,
Horizontal Break of Support Setups include: NCLH, AMZN,
CAVM, DLTR, JD, TSLA, CTRP,
Break of Support: TRIP, DO, ATVI, COST, BBBY, CERN,
______________________
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 pointed up at
43, bullish.
30 of 100
NDX stocks closed higher on Wednesday.
60
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 12
ALXN, BMRN, GILD, LMCA,
LVNTA, MYL, PCAR, REGN, SHPG, SYMC, TSCO, WBA,
Moving Below 30 DMA = 4
ADBE, KHC, MU, NCLH,
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Up
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