Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE, XLK, XLP, XLRE
Sideways: XLV, XLU
Down Trend:
XLRE moves to Up Trend from Sideways on a horizontal
resistance breakout.
Breadth strengthened as advancers led 2,606
to 466 on the NYSE and led 2,220 to 633 on the
NASDAQ.
Wednesday
– strengthened, advancers led, +8 sectors
Tuesday –
strengthened, advancers led, +9
Monday – New Year’s Holiday
Observance
Friday – weakened, decliners led, +2
Thursday – strengthened, advancers
led on the NYSE, +5
Oil futures were up .88 to close at 53.35 on Wednesday.
SPY up 1.34
at 226.58 on 78.7 million shares, 4%
below average volume,
VIX down 1.00
at 11.85
TLT up
.46 at 120.10…on 6.7 million shares, 32% below average volume
Technical Commentary:
IWM +1.67%, SPY +0.59%, QQQ +0.54%, DIA +0.37%,
SPY
made a new all-time closing high at 226.58, eclipsing
its Dec 13 high.
IWM
made a new all-time closing high at 137.78, eclipsing
its Dec 9 high.
XLF
made a nine-year closing high at 23.70, eclipsing
its Dec 20 high.
Sectors XLP and XLE did not
participate in today’s rally.
IWM, DIA
and QQQ gave bounce entries on Wednesday.
VIX did confirm the SPX rally
as did financials.
SPX up 13 at 2,270
SPX gainers FCX, NRG, GM,
AA, F, MOS, RHT, KSS, AN, TDC, STT, XRX, GPN, DLPH, ALXN, HCA, OI, NWL, NSC,
CNC, WYNN, CRM, BXP, DLR, SWN, SPGI, ILMN, GPS, QRVO, ALB, BBBY, AMP, GILD,
KMX, YHOO, LM, SNI, SPLS, RRC
QQQ stayed
above old resistance and continued Tuesday’s
rally, closing at 120.19.
NDX point leaders: FB, GILD, CMCSA,
CHTR, AMZN, AMGN, TSLA, NVDA, YHOO, ALXN, BIDU, ESRX, PYPL and SBUX
2016 Q4 EPS
EPS Positive Reactions
MU,
CAG, NKE, KMX, CCL, JBL
EPS Negative Reactions
RHT,
BBBY, FINL, AGN, FDX, GIS, ADBE
Trade with the trend of the chart you are trading and continue to move your profit protection stops. Continue to follow your rules.
Follow
your rules and look for potential re-entry if you were stopped out of any
profitable trades.
Technical analysis based trades should be closed before earnings.
Trade
what you see, not…
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: MU, COST, NVDA, XLNX, AVGO, MAR, LRCX, CMCSA, CTXS,
INTC, TXN, KLAC, PAYX, SOXL, ALK, UAL, CHTR, AAPL, CHKP,
One Day Pullback:
Bull Flag Bounces include: CFG, WDC, IWM, SQ, TSLA,
FISV, ZION, USB, DAL, LUV,
At Support Setups include: AMAT, PWR,
MSFT, TSCO, BHI, AAL, CAR, PCLN, FAST, ADI, HES, TRV, MCD, CC, UPS, ROST, SBUX,
WBA, APA,
Support Bounce: X, AKS, STLD, NCLH, CCL, CE, ATVI, ATI, ICE, BBY, EA, CSX,
NUE,
Horizontal Breakout Setups include: X, AKS, STLD, NCLH, GM, F, FISV,
MGM, TLT, STI, JPM, C, GS, ADP, LNG, STX, EBAY, BA, UTX, MMM, DISCA, GOOG,
TMUS, STX, HAL, SPY, CMA, ETFC, MS, RCL, GD, HBAN, KEY, RF, HIG, ATVI, ATI,
ICE, EA,
Horizontal Breakouts include: FAS, XLRE, XLV, DE, NFLX,
FTI, SCHW, BAC, TSLA, ADSK, PCAR,
New Highs include: ADP,
Break of Support:
______________________
The SPY MFC green line is in the upper zone at
80 bullish.
80 of 100
NDX stocks closed higher on Wednesday.
71
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 18
ADBE, AMAT, ATVI, BIIB, CMCSA,
CSX, DISCA, FB, LBTYA, NXPI, REGN, SIRI, TRIP, TSCO, ULTA, VIAB, XRAY, YHOO
Moving Below 30 DMA = 3
CERN, ISRG, KLAC,
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
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