Setups to Watch for Thursday
(click image to enlarge)
Technical Commentary
SPY,
DIA, QQQ, IWM = All-time new Closing High
IWM = horizontal breakout setup
Stock
indexes push to new all-time on large and broad gains on well above average
volume following the President’s address to
Congress on Tuesday evening.
Up Trend: XLF, XLI, XLB, XLY, XLK, XLP, XLU, XLV, XLRE
Sideways: XLE
Down Trend:
Breadth strengthened as advancers led 2,053
to 996 on the NYSE and led 2,169 to 714 on the
NASDAQ.
Wednesday
– strengthened, advancers led, +8 sectors
Tuesday –
weakened, decliners led, +2
Monday – strengthened, advancers led, +5
Friday – strengthened, advancers led on the NYSE, +8
Thursday – weakened, decliners led, +5
IWM +1.83%, DIA +1.46%, SPY +1.40%, QQQ +1.09%,
SPY up
3.31 at 239.78 on 149.1 million shares, 95%
above average volume,
VIX down .38
at 12.54
TLT down 2.27
at 119.47…on 8.4 million shares 14% above average volume
Oil futures were down .33 to close at 53.67 on Wednesday.
The SPY MFC green line is in the upper zone at
96 bullish.
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
SPX and NDX Highlights
SPX up 32 points at
2,395.
SPX gainers AA, LOW, MYL, WYNN, SCHW, CFG, ETFC, TXT, FITB, MU, CMA,
CME, ATVI, FCX, RF, URI, PXD, HBAN, BAC, ZION, MUR, MET, HOG, PCAR, FLS, BRK/B,
JPM, NOV, COG, WFC, STI
QQQ closes up 1.42 at 131.44.
NDX point leaders: AAPL, MSFT, FB,
GOOG, AMZN, GOOGL, AVGO, MYL, ATVI, TXN, CSCO, AMGN, MU, ADBE, BIIB and ADP
86 of 100 NDX stocks closed
higher and two were unchanged on Wednesday.
83
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
CMCSA, FAST, MU, PCAR,
VRSK
Moving Below 30 DMA = 2
GILD, ROST
_______________________________
Strong Stocks: Setups
and Moves You Can Use
Bull Flag Setups include:
CHKP,
CTRP, INTU, ULTA, VIAB, PYPL,
SQ, SRCL,
WIX, SHOP, WB, CLF, FLEX,
One Day Pullback:
Bull Flag Bounces include: FAS, SOXL, ATVI, IWM, XLI, XLY, QQQ, JPM,
GS, DD, IBM, PG, SWKS, ADBE, AMAT, MAR, FB, GOOGL, YHOO, AMZN, NCLH, SBUX, RF, CC,
WFC, STI, HBAN, MS, VALE, (29)
(click image to enlarge)
Horizontal Breakout Setups include: ATVI, IWM, XLY, MS, GS, DD, IBM, PG, SWKS,
ADBE, AMAT, MAR, YHOO MT, X, MU, DIS, HIG, XLB, BABA, CAT, SODA, RCL, LNG, CCL,
PCAR, NTES, AVGO, WDC, STLD, DE, NUE, MSFT, MCHP, MXIM, NVDA, TMUS, INTC, TXN,
SOXL, GOOGL, AMZN, NCLH, SBUX, CC, VALE,
(click image to enlarge)
Horizontal Breakouts include: AA, SCHW, AMD, NTAP, AXP, AAPL, ADI, STX,
BAC, ZION, MU, LRCX, TXN, HIG, CSX, XLB, FAS, XLI, QQQ, JPM, FB, GOOGL, RF, WFC,
STI, HBAN,
(click image to enlarge)
New Highs include: BAC, USB, ADSK, GLW, AAPL, BA, MMM, LUV, UNH, KLAC,
DIA, XLK, SPY, GD, MCD, EBAY, PCLN, XLP, COST,
At Support Setups include: NRG, HES, GDXJ,
CF, CHK, BBY, AMBA, TLT,
Support Bounce: PCAR, ETFC, GM, UPS, MT, FCX, BHI, MGM, HAL
Break of Support: PANW, ROST,
_______________________________
Earnings
This week:
Monday – PCLN, SBAC
Tuesday – ENDP, QVCA, ROST, TGT, AZO, AMBA
Wednesday – AVGO, DLTR, MNST, MYL, BBY, LOW
Thursday – JD, COST, KR
Friday – BIG
Earnings Reports
Positive earnings reactions
LOW +7.08, +9.52%
MYL +3.02, +7.22%
DCI +2.97, +6.92%
Negative earnings reactions
PANW -36.69, -24.15%
BBY -1.99, -4.51%
AMBA -2.61, -4.43%
ROST -1.78, -2.60%
After-hours
reports
MNST +5.90, +14.04%
AVGO +8.66, +4.03%
2016 Q4 EPS (since
Feb 15)
EPS Positive Reactions
LOW, MYL,
DCI, WUBA, ALB, BWXT, IONS, PCLN, ENDP, FL, KSS, INTU, JWN, NCLH, CTRP, WMT,
HD, HSIC, XRAY, SHPG, NTES, SRCL, NTAP, CSCO, SHPG, WIX, ADI, WYN, SODA,
EPS Negative Reactions
PANW,
BBY, AMBA, ROST, TGT, QVCA, BIDU, BMRN, TSLA, SINA, LB, SLCA, VRSK, DISH, TRIP,
ALXN, FOSL, AIG, DVN, KHC,
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