Setups to Watch for Thursday
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Technical Commentary
Fed
minutes send stocks into a tailspin at 2 pm ET.
The SPX which was up 18 points finished down 7
points.
The
March 9 low on SPY at 234.72 and the April 3 low of 233.91 represent the important short-term zone of support.
The
intermediate and long-term trends are still up.
DIA -0.19%, SPY -0.30%, QQQ
-0.41%, IWM -1.13%,
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Up Trend: XLY, XLK, XLU, XLV
Sideways: XLB, XLF, XLRE, XLI, XLP,
Down Trend: XLE
Breadth weakened as decliners led 1,978 to 1,024
on the NYSE and led 2,073 to 796 on the NASDAQ.
Wednesday
– weakened, decliners led, +2 sectors
Tuesday –
strengthened, advancers led on the NYSE, +6
Monday – weakened, decliners led, +2
Friday –weakened, advancers led, +3
Thursday – weakened slightly, advancers led, +7
SPY down .70
at 234.78 on 108.8 million shares, 34%
above average volume,
VIX up 1.10
at 12.89
TLT up .37
at 121.38…on 8.5 million shares 7% above average volume
Oil futures were down .31 to close at 50.82 on Wednesday.
The SPY MFC green
line is pointed
down at 51,
defensive with the SPY
remaining at short-term support/resistance at 234.72.
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
SPX and NDX Highlights
SPX down 7 points at 2,353.
SPX gainers CRM, SPLS, RL, MKC, EXR, UAA, MCO,
SRCL, KMX, CNC, MDLZ, EQR, WEC, SPGI, CTL, WM, HCN, FTI, MON, SCG, DLR, ICE,
ES, AZO, HCA, PSA, DTE, GT, MCD, TROW, NEE, DD
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QQQ closes down .54 at 131.97.
NDX percentage gainers: LVNTA, VRTX, MDLZ,
NTES, AAL, MAT, ADP, INTU, HOLX, PAYX and PYPL
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34 of 100 NDX stocks closed
higher and one was unchanged on Wednesday.
49
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
MDLZ, PYPL,
Moving Below 30 DMA = 7
AVGO, BIDU, EA, GOOG, INCY, MNST, REGN,
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Strong Stocks: Setups
and Moves You Can Use
Bull Flag Setups include: CCL, RCL, ATVI, VIAB, MAR, NFLX, LVS, WDC,
MSFT, HUN, PCLN, BABA SPY, XLY, HD, JNJ, CLX, UNH, MNST, CERN, WYNN, MOMO,
Bull Flag Bounces include: XLU,
One Day Pullback: LRCX, LNG, TSLA, QQQ, KLAC,
MACD Histogram Bullish Divergence: IBM, PANW,
Horizontal Breakout Setups include: ADBE, SWKS, ATVI, QQQ, CBOE, STX, TLT,
MCD, EBAY,
AMD, DIA, XLE, HOLX, NRG, CTRP, MU, FLEX, NUE, LUV, CSX, YHOO, AA, GS, DIS, STI,
CHK, SWN, UAL, IYR, MSFT, BA,
Horizontal Breakouts include:
New Highs include: AMZN, AAPL, WIX, NXPI, FB, CC, ADBE,
At Support Setups include: SOXL, EA, AVGO,
PYPL, CTSH, ALK, EXPE, V, AMBA, MMM, AAL, DAL, HAS, MAT, CTSH, CF, NTES,
Support Bounce: ADP,
Break of Support: X, ADI, ROST, NVDA, PAYX,
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