Thursday, March 23, 2017

Morning Rally Fades Thursday Afternoon...IWM Leads with Gain...MU Soars After-hours on EPS...


Technical Commentary

After a morning rally all four indexes and their respective ETFs sold off in the afternoon going into the close finishing slightly lower, except for IWM which finished up for the day.  IWM, DIA, SPY and QQQ each made a higher high and higher low.

Wednesday's flags setups still valid, look for a potential bounce on Friday.
 
The intermediate and long-term trends are still up.


IWM +0.58%, DIA -0.05%, SPY -0.11%, QQQ -0.25%,

                 (click image to enlarge)


Up Trend: XLK, XLP, XLU, XLV
Sideways: XLB, XLF, XLRE, XLI, XLY,
Down Trend: XLE

Breadth strengthened as advancers led 1,939 to 1,034 on the NYSE and led 1,820 to 1,024 on the NASDAQ.

Thursday – strengthened, advancers led, +4 sectors
Wednesday – strengthened, advancers led on the NYSE, +7
Tuesday – weakened, decliners led, +1
Monday – weakened, decliners led, +4
Friday – strengthened, advancers led, +6


SPY down .25 at 234.03 on 100.4 million shares, 25% above average volume,
VIX up .31 at 13.12
TLT down .17 at 120.45…on 6.7 million shares 21% below average volume

Oil futures were down .49 to close at 47.67 on Thursday.

The SPY MFC green line is pointed down at 66, be defensive until SPY moves above 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 2 points at 2,346.

SPX gainers PVH, TRIP, COG, NKE, AAL, SWN, FOSL, HBAN, CHK, KORS, SLG, DD, WDC, DOW, KIM, RRC, MU, GGP, CSRA, MNK, VFC, CTXS, REG, CCI, HCN, HPE, SPG, RL, ADSK, CTAS, STI, BXP, FRT

                  (click image to enlarge)

QQQ closes down .33 at 130.36.

NDX percentage gainers: TRIP, AAL, JD, WDC, MU, LVNTA, CTXS, ADSK, CTAS, ENDP and YHOO

                  (click image to enlarge)

42 of 100 NDX stocks closed higher on Thursday.

55 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 2
ADSK, WDC

Moving Below 30 DMA = 3
ADI, QCOM, VRTX


_______________________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: ADBE, AMAT, ATVI, AVGO, EA, EXPE, FB, FISV, HOLX, KLAC, LRCX, MXIM, NFLX, NTES, NVDA, NXPI, PAYX, PCLN, SWKS, SYMC, TSLA, TXN, ULTA, HD, JNJ, UNH, CLX, FLEX, DIS, MMM, SOXL, UTX, WIX, LVS, MNST, NRG,

Bull Flag Bounces include: CTRP, HAS, YHOO, BABA, (4)


                  (click image to enlarge)

One Day Pullback:

MACD Histogram Bullish Divergence: X, STX, BA, IBM, PANW,

Horizontal Breakout Setups include: PYPL, MCD, AMD, EBAY, INTC, GDXJ, XLU, TLT,

Horizontal Breakouts include:

New Highs include: MAR, CCL, RCL, WYNN,

At Support Setups include: ADI, ADP, AMZN, GLW, CMCSA, V, ROST, NUE, AA, LUV, CF, RF, CSX, AMBA, GS, ZION, STI,

Support Bounce: IWM, WDC, ALK, LNG, AAL, DAL, UAL,

Break of Support:


_______________________________

Earnings

This week:
Monday
Tuesday – GIS, LEN, FDX, NKE
Wednesday – CTAS,
Thursday – ACN, PVH, CAG, MU
Friday


Earnings Reports
Positive earnings reactions
PVH +7.70, +8.48%
CTAS +1.58, +1.27%

Negative earnings reactions
ACN -5.72, -4.52%

After-hours reports
MU +2.72, +10.28%


2016 Q4 EPS (since Mar 7)
EPS Positive Reactions
PVH, CTAS, FDX, TIF, ADBE, ORCL, ULTA, SIG, HRB

EPS Negative Reactions
ACN, NKE, LEN, GIS, URBN,



Add Comments here

Wednesday, March 22, 2017

Flags Flying, Indexes Find Support as Selling Slows and Buying Demand Increases...


Setups to Watch for Thursday

                  (click image to enlarge)


Technical Commentary

All four indexes and their respective ETFs made a lower low on Wednesday and then rallied each forming a bullish candle.  Our Tuesday observation, “…suggesting the bottom was not likely today.  Look for at least another day of short-term downside” turned out to be accurate.  Look for a potential bounce on Thursday.
 
The intermediate and long-term trends are still up.


QQQ +0.68%, SPY +0.24%, DIA +0.03%, IWM +0.02%,

               (click image to enlarge)


Up Trend: XLK, XLP, XLU, XLV
Sideways: XLB, XLF, XLRE, XLI, XLY,
Down Trend: XLE

Breadth weakened as decliners led 1,602 to 1,423 on the NYSE and led 1,630 to 1,216 on the NASDAQ.

Wednesday – strengthened, advancers led on the NYSE, +7 sectors
Tuesday – weakened, decliners led, +1
Monday – weakened, decliners led, +4
Friday – strengthened, advancers led, +6
Thursday – weakened, advancers led, +3

SPY up .55 at 234.28 on 97.5 million shares, 24% above average volume,
VIX up .34 at 12.81
TLT up .48 at 120.62…on 11.6 million shares 31% above average volume

Oil futures were up .01 to close at 48.16 on Wednesday.

The SPY MFC green line is pointed down at 72, be defensive until SPY moves above 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 up 4 points at 2,348.

SPX gainers MAR, VTR, FMC, ILMN, UAL, XYL, WDC, FCX, COO, SYMC, BBY, CMG, FDX, MU, NVDA, AMD, WRK, IDXX, CSX, GLW, RCL, MLM, CNC, MCHP, HCP, CTSH, BWA, QRVO, RHT, KEY

                   (click image to enlarge)


QQQ closes up .88 at 130.69.
   
NDX point gainers: AAPL, MSFT, FB, AMZN, INTC, NVDA, MAR, CSCO, TXN, CSX, TMUS, TSLA, PYPL and AVGO

                  (click image to enlarge)

82 of 100 NDX stocks closed higher on Wednesday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 6
AKAM, AMZN, ILMN, JD, MSFT, VRTX

Moving Below 30 DMA = 0


_______________________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: ADBE, AMAT, ATVI, AVGO, CTRP, EA, EXPE, FB, FISV, HAS, HOLX, KLAC, LRCX, MXIM, NFLX, NTES, NVDA, NXPI, PAYX, PCLN, SWKS, SYMC, TSLA, TXN, ULTA, YHOO, HD, JNJ, UNH, CLX, FLEX, DIS, MMM, SOXL, UTX, BABA, WIX, LVS,

                  (click image to enlarge)

Bull Flag Bounces include: MNST, (1)

One Day Pullback: NRG,

MACD Histogram Bullish Divergence: X, STX, BA, IBM, PANW,

Horizontal Breakout Setups include: PYPL, MCD, AMD, EBAY, INTC, GDXJ, XLU, TLT,

Horizontal Breakouts include: RCL,

New Highs include: MAR, CCL, WYNN,

At Support Setups include: ADI, ADP, AMZN, WDC, GLW, CMCSA, V, ALK, LNG, ROST, IWM, NUE, AA, LUV, AAL, DAL, UAL, CF, RF, CSX, AMBA

Support Bounce:

Break of Support: GS, ZION, STI,


_______________________________

Earnings

This week:
Monday
Tuesday – GIS, LEN, FDX, NKE
Wednesday – CTAS,
Thursday – ACN, PVH, CAG, MU
Friday

Earnings Reports
Positive earnings reactions
FDX +4.08, +2.13%

Negative earnings reactions
NKE -4.09, -7.05%

After-hours reports
CTAS


2016 Q4 EPS (since Mar 7)
EPS Positive Reactions
FDX, TIF, ADBE, ORCL, ULTA, SIG, HRB

EPS Negative Reactions
NKE, LEN, GIS, URBN,



Add Comments here

Tuesday, March 21, 2017

SPX, DJIA, NDX Break Short-term Support on Heavy Volume...Be Defensive...FDX Up, NKE Falls After-hours EPS...



Technical Commentary

Healthcare vote or other factors, the SPX broke short-term support on heavy volume on Tuesday as did the DJIA and NDX.  The RUT fell to its 4-month sideways channel support.  It’s time to be defensive

Chart Signals teaches that traders need to be prepared for one to three percent pullbacks at any time.  They don’t happen the majority of the time, but they can happen at any time.  Better to be prepared than surprised. Tuesday was one of those days.

SPY and DIA closed below their 30 DMA, while QQQ made a new intra-day all-time high before it fell to its 30 DMA. 

All four indexes and their respective ETFs closed near their low on Tuesday, suggesting the bottom likely was not today.  Look for at least another day of short-term downside.
 
However, the intermediate and long-term trends are still up.


DIA -1.18%, SPY -1.28%, QQQ -1.52%, IWM -2.74%,

               (click image to enlarge)


Up Trend: XLK, XLP, XLU, XLV
Sideways: XLB, XLF, XLRE, XLI, XLY,
Down Trend: XLE

Breadth weakened as decliners led 2,347 to 673 on the NYSE and led 2,369 to 528 on the NASDAQ.

Tuesday – weakened, decliners led, +1
Monday – weakened, decliners led, +4
Friday – strengthened, advancers led, +6
Thursday – weakened, advancers led, +3
Wednesday – strengthened, advancers led, +9 sectors

SPY down 3.04 at 233.73 on 131.6 million shares, 76% above average volume,
VIX up 1.13 at 12.47
TLT up .99 at 120.14…on 12.5 million shares 44% above average volume

Oil futures were down .76 to close at 48.15 on Tuesday.

The SPY MFC green line is pointed down at 78, be defensive as SPY breaks short-term support.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down



SPX and NDX Highlights

SPX down 29 points at 2,344, now down -2.46% from March 1 intra-day high of 2,400.98.

21 of the top 25 SPX gainers were utility stocks.  17 of the top 25 SPX losers were financial stocks.

SPX  gainers CMG, DUK, PPL, D, XEL, PCG, WEC, CMS, ED, ES, SRE, LNT, NEE, NI, FTI, AEE, PNW, NEM, FE, AEP

                  (click image to enlarge)

SPX losers
KEY, HBAN, CMA, BAC, TDG, ZION, LNC, INCY, RF, NUE, CFG, MNK, STI, FITB, BBT, RJF, AA, F, NAVI, PBCT, MS, SCHW, WDC, PNC, BWA

                  (click image to enlarge)

QQQ closes down 2.00 at 129.81.
   
NDX point losers: AAPL, AMZN, GOOG, MSFT, GOOGL, FB, AVGO, CELG, CMCSA, CSCO, NVDA, INTC, TXN, TSLA, AMGN, WBA, INCY, QCOM, NFLX, JD

                  (click image to enlarge)


6 of 100 NDX stocks closed higher on Tuesday.

50 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0

Moving Below 30 DMA = 21
ADSK, AKAM, AMZN, CA, CHTR, DISH, EBAY, GOOG, INTU, JD, LBTYA, MDLZ, MSFT, NFLX, NTES, NXPI, PCAR, REGN, TSLA, VRTX, XLNX


_______________________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: ADBE, ATVI, AVGO, EA, EXPE, FISV, NXPI, PAYX, PCLN, SWKS, TXN, ULTA, HD, JNJ, UNH, CLX, FLEX,

One Day Pullback: AAPL, AMAT, CTRP, FB, HAS, JD, KLAC, LRCX, MU, NFLX, NVDA, PYPL, SYMC, YHOO, DIS, MCD, MMM, NKE, UTX, SOXL, BABA, RCL, MXIM, WIX, CF, EBAY, INTC, AMD,

Horizontal Breakout Setups include: GDXJ, XLU, TLT,

New Highs include: CCL, NRG

At Support Setups include: ADP, AMZN, CMCSA, WDC, V, ALK, LNG, ROST, IWM, NUE, AA, GLW, LUV, AAL, DAL, UAL,

Support Bounce:


Break of Support: GS, ZION, STI, RF, BA, CSX, IBM, STX, ADI, X, PANW, 

_______________________________

Earnings

This week:
Monday
Tuesday – GIS, LEN, FDX, NKE
Wednesday – CTAS,
Thursday – ACN, PVH, CAG, MU
Friday

Earnings Reports
Positive earnings reactions



Negative earnings reactions
LEN -1.41, -2.68%
GIS -0.50, -0.83%

After-hours reports
FDX +3.76, +2.14%
NKE -0.67, 1.14%


2016 Q4 EPS (since Mar 7)
EPS Positive Reactions
TIF, ADBE, ORCL, ULTA, SIG, HRB

EPS Negative Reactions
LEN, GIS, URBN,



Add Comments here