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.
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…
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
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.
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,
Potential Bullish Divergence:
Gap Up: GILD, SWKS
Gap Down: AMGN, T, CREE, VMW,
At Support: GLD, X, ANR, RAX, WLT, ESRX, NTAP, ROST,
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,
Bull Flag Bounce:
Bounce: SPWR, WFM, WYNN,
MACD Divergence Bounce:
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: Up3-Day Short Term Market Trend: Up