Setups to Watch for Thursday
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Technical Commentary
In
Tuesday’s post we discussed the 23.6% Fib retracement of the intermediate term trend since the November election. Tonight we highlight Wednesday’s pause that
stayed above both Tuesday’s large white candle S1 and the bounce that occurred today
at the 23.6% Fib retracement of the
rally this week.
Bottom-line: Technically speaking the SPX
been in a healthy consolidation and the intermediate and long-term trends are
still up.
QQQ +0.46%, IWM +0.32%, SPY +0.09%, DIA -0.21%,
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Up Trend: XLY, XLK, XLU, XLV
Sideways: XLB, XLF, XLRE, XLI, XLP,
Down Trend: XLE
Breadth weakened
slightly
as advancers led 1,953
to 1,050 on the NYSE and led 1,743 to 1,103 on the
NASDAQ.
Wednesday – strengthened slightly, advancers led, +7 sectors
Tuesday –
strengthened, advancers led, +9
Monday – strengthened, advancers led, +2
Friday –weakened, decliners led, +1
Thursday – strengthened, advancers led, +4
SPY up 0.22
at 235.54 on 61.9 million shares, 25%
below average volume,
VIX down .11
at 11.42
TLT up 0.72
at 121.34…on 6.2 million shares 21% below average volume
Oil futures were up 1.16 to close at 49.60 on
Wednesday.
The SPY MFC green
line is flat at 50.6,
be bullish with the
SPY remaining above short-term support/resistance at 234.72.
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
SPX and NDX Highlights
SPX up 3 points at
2,361.
SPX gainers CHK, JWN, HES, KSS, RRC, MRO, DVN,
GS, APA, MUR, UAA, NRG, SWN, FTI, OKE, DG, VMC, MP, FL, TGT, HPE, MNK, NOV,
WMB, CTL, M, EQT, COG, HAL, AYI, EQIX, ABX, RL, APC
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QQQ closes up .61 at 132.25.
NDX percentage gainers: VRTX, ENDP,
REGN, DLTR, AMZN, ORLY, ALXN, SYMC, DISCA, GOOG, TRIP, GOOGL, ADSK, ILMN, SBAC,
WDC, NFLX
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69 of 100 NDX stocks closed
higher and one was unchanged on Wednesday.
61
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 9
ADSK, CHTR, EBAY, FAST,
LVNTA, NXPI, ORLY, TRIP, VRTX,
Moving Below 30 DMA = 2
ADP, CSCO,
_______________________________
Strong Stocks: Setups
and Moves You Can Use
Bull Flag Setups include: XLU, AMAT, FISV, MXIM, NVDA, TXN, HD,
JNJ, CLX, FLEX, MMM, WIX, NRG, EBAY, UNH,
Bull Flag Bounces include: NRG, SYMC, MNST, (3)
One Day Pullback: CCL, RCL, UAL,
MACD Histogram Bullish Divergence: X, STX, IBM, PANW,
Horizontal Breakout Setups include: QQQ, DIA, XLE, IYR, BA, EA, PANW, AVGO, ULTA,
DIS, LVS, ADBE, CTRP, MCD, AAL, LUV, RF, CSX, ZION, STI, YHOO, HOLX, KLAC,
LRCX, PYPL, GLW, NXPI, NFLX, SWKS, SOXL, INTC, TLT, ALK, TSLA, AMD, GDXJ, DAL, EXPE,
HAS, ADI,
Horizontal Breakouts include: CHK, SWN, CF, AMZN, SPY, XLY, FB, WDC, CF,
BABA, LNG,
New Highs include: CC, AMZN, FB, ATVI, HUN, WYNN, AAPL, MAR PCLN,
At Support Setups include: NTES, ADP,
CMCSA, V,
Support Bounce: ROST, GS, NUE, AA, LUV, RF, AMBA,
Break of Support: PAYX,
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Earnings
This week:
Monday – DRI, RHT
Tuesday – MKC, CCL,
Wednesday – PAYX
Thursday – PRGO
Friday –
Earnings Reports
Positive earnings reactions
Negative earnings reactions
PAYX -1.52, -2.51%
2016 Q4 EPS (since
Mar 7)
EPS Positive Reactions
DRI,
RHT, CCL, MU, PVH, CTAS, FDX, TIF, ADBE, ORCL, ULTA, SIG, HRB
EPS Negative Reactions
PAYX, MKC, ACN, NKE, LEN, GIS, URBN,
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1 comment:
Thank you, Dave!
Kathy :)
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