Seven of nine sectors moved higher on Tuesday…XLV,
XLY and XLF were the strongest
sectors…XLE was the weakest sector
again.
Breadth strengthened as advancers led decliners 2.76 to 1 on the NYSE and 2.60 to
1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – strengthened,
advancers led
Friday - Holiday
Thursday – weakened,
advancers led
Wednesday –
strengthened, advancers led
SPY up .85 at 187.89 on 85.6 million shares, lower than average volume
VIX down .06 at 13.19…
TNX up .05 at 27.26…
TLT up .37 at 110.33...
XLF up .15 at 21.99 on 26.8 million shares
AAPL up .53 at 531.70 on 7.2 million shares
FB up 1.79 at 63.03…on 60.3 million share.
Technical
Commentary:
IWM +
1.03%, QQQ + 0.79%, DIA + 0.47%, SPY + 0.45%.
Six days SPX gains +3.52% and is now +1.69%
since Dec 31. IWM led the broad index ETFs for two of three days which is a positive sign
that this is a broad based rally.
Institutions buying small caps is a positive.
The NDX +28.85
was led by
16.5 NDX points from FB, CMCSA, BIIB, GILD, GOOG, TSLA, AMGN, NFLX, WYNN
and CELG.
SPX leaders included AGN, NFLX, HOG,
WYNN, GNW, PRGO, VRTX, DRI and MU. SPX
losers included PNR, LMT, QEP, KMB, OMC ATI and ZION.
NFLX +24.41,
+7.00% and HOG +4.33, +6.41% both
gapped higher on positive earning reactions.
In after-hours
trading AMGN, T, CREE, VMW are down on
negative earning reactions while GILD and SWKS gapped higher. Watch for gaps on these six stocks Tuesday morning.
Charts are poised for a horizontal resistance
breakout with
earning reports increasing on Tuesday through Thursday.
Trade with the trend of the chart
you are trading and continue
to move your protective stops. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 187.17, 189.70…
QQQ = 86.90, 87.88…
IWM = 113.84, 115.25…
Support Levels
SPY = 183.37, 181.38
QQQ = 85.09, 84.16,
83.15, 82.03
IWM = 110.12, 108.91,
106.99
Earnings This Week:
Monday: NFLX, HAL, HAS,
KMB, STI,
ZION
Tuesday: AMGN, GILD, MCD, TRV, UTX, AKS, ATI, T,
ACI, CREE, HOG,
JNPR, LXK, RF,
SPG, SWKS, VMW, XRX
Wednesday: AAPL, BIIB, CTXS, FFIV, FB, NXPI,
ORLY, QCOM, TSCO, XLNX, BA, PG, ANGI, BA, CLF, DAL, ETFC, DAVE, JCI, NSC,
Thursday: ALXN, ALTR, AMZN, BIDU, BRCM,
CELG, KLAC, MXIM, MSFT, SIRI, SRCL, WYNN, MMM, LLY, V, VZ, AET, CNX, DECK, FCX,
ESI, LVS, NUE, P, BTU, POT, RCL, LUV, SWK, SPWR, NDAQ, UA, UPS, YNDX
Friday:
Q1 Earnings Reactions
Positive Reactions – NFLX,
HOG, RF, XRX, HAL, HAS, STI, BHI, BX, C, GE, GME, IBKR, INTC, JNJ,
KO, MS, SCHW, SNDK, UNP, URI, WFC, YHOO
Negative Reactions – LXK,
KMB, ZION, AKS, ATI, ACI, BAC, BBRY, FAST, GOOG, IBM, JPM, LLTC, MU, STLD, UNH
Reversal in progress –
IBM, LLTC
Reversal of Initial
Reaction – MU
The SPY Market Forecast green line is pointed up at 48.
____________________
Setups
H Breakout: FAS, GLW, IWM, JDSU, JNPR, KKD, MFRM, MS,
MTW, NKE, PANW, SCHW, STI, SWKS, ANGI, BAC, CIEN, ESI, P, QIHU, SOHU, SWI, YELP,
YOKU, AAPL, ADBE, ADSK, CELG, COST, EBAY, FFIV, GILD, GRMN, MNST, PCLN, STX,
TRIP,
Diagonal Breakout: C, CTRP, FSLR, GME, RCL, BBRY, BX, DDD, GOGO,
LVS, GMCR, MSFT, SBUX,
Bull Flag: ATI, INTC,
One Day:
Potential Bullish
Divergence:
Gap Up: GILD, SWKS
Gap Down: AMGN, T, CREE, VMW,
Bear Flag:
At Support: GLD, X, ANR, RAX, WLT, ESRX, NTAP, ROST,
C- Pattern:
Moves
New Highs: UPL, Z, SNDK,
Gap Up: HOG, CSIQ, CMCSA, FB, MU, NFLX,
Gap Down: ZION,
H Breakout: CREE, ETFC, SPY, UAL, CRM, LVS, SCTY,
SFUN, SSYS, UBNT, VRSN, BIDU, TSLA,
Diagonal Breakout: AAL, TSL, TXN,
Breakout Test:
Bull Flag Bounce:
Bounce: SPWR, WFM, WYNN,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
75 of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: NFLX, TSLA, WYNN,
ILMN, VRTX, MU, REGN, MYL, FB, BIIB, ISRG, CHTR
Lagging NDX stocks included: VIP, KRFT, SYMC,
DISH
Leading stocks > +2% on Tuesday
included: HOG, UAL, PANW, GME, ETFC, UPL, FSLR, SWKS, RCL
Lagging stocks < -2.0% included: ATI, ZION
Stocks to Watch on Tuesday
Holding Above 30 DMA= 34
MAR, GRMN,
KRFT, FAST, INTC, QCOM, STX, WDC, CSCO, CHRW, SPLS, NVDA, SYMC, LINTA, MSFT, COST,
EXPD, MDLZ, SIAL, YHOO, ADI, FISV, MU, NXPI, SNDK, VIP, AAPL, BIDU, CHKP,
CMCSA, FFIV, FOXA, ORLY, SBAC
Moving Above 30 DMA =
11
AVGO, CELG, CHTR, DTV, EXPE, FB,
GILD, MXIM, REGN, TSLA, TXN
Moving Below 30 DMA = 0
Staying Below 30 DMA
ISRG, AMAT, BRCM, KLAC, NTAP, LLTC, MAT, PCAR, XLNX, BBBY, ALTR, AMGN,
ATVI, CTSH, PAYX, ROST, DISH, HSIC, SBUX, VIAB, DISCA, TSCO, ADP, CTXS, INTU,
AKAM, EBAY, ESRX, TRIP, AMZN, BIIB, DLTR, MYL, WFM, LMCA, GMCR, ADBE, ALXN,
CERN, PCLN, WYNN, LBTYA, MNST, NFLX, ILMN, SRCL, EQIX, CA, VRSK, ADSK, VOD, VRTX,
SIRI, CTRX, GOOG
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
