Thursday, April 28, 2016

SPX Resistance...Sell Off After Ichan Reports Closed AAPL Position...FB New High...AMZN, EXPE, LNKD, BIDU After-hours Gap Up on Earnings...

One of nine sectors moved higher on ThursdayXLB, XLU and XLV were the strongest sectors while XLE was the weakest sector.  Oil futures rose .55 to close at 45.88, its highest close since Nov 5, 2015.

Breadth weakened as decliners led 1.90 to 1 on the NYSE and 1.93 to 1 on the NASDAQ.

Thursday - weakened, decliners led
Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – strengthened, advancers led


SPY down 1.90 at 207.45 on 97.2 million shares, 18% above average volume
VIX up 1.45 at 15.22
TLT up .53 at 129.05…on 7.9 million shares, 20% above average volume


Technical Commentary:
SPY -0.91%, IWM -1.14%, DIA -1.14%, QQQ –1.21%,

The SPX futures traded lower overnight but were higher on Thursday.  Late in the day it seemed that traders reacted after a statement from Carl Icahn regarding the closing of an AAPL position due to China, and sold broad markets down to a lower close.

FB +7.84, +7.20% gapped up to a new all-time intra-day and closing high on a strong earnings reaction.

Earning’s Announcements:
Positive Reactions:  FB, NOV, CCE, MJN, WM, F, UHS, COMM, OSK, DLB, PPC, LGF, CSGP, INGR,
Negative ReactionsGNC, IPGP, HAR, UTHR, HOLX, FE, DPZ, CAH, XLNX, FSLR, SEE, AME,

After-hours Reactions:
AMZN +76.00, +12.62% beat EPS and revenues
BIDU +7.98, +4.29%
LNKD +9.97, +8.11%
EXPE +11.51, +10.76%

GILD -5.31, -5.47% on a negative earnings reaction


Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  SPY, DIA, SVXY, XLB, XLI, XLY, FAS, CTXS, UA, SLB, CAT, JNJ, MMM, CTRP, ISRG, PCLN, VOD, X, AKS, STLD, SCHN, SCTY, DFS, RIG, PCAR, AA, AXP, ATVI, MDLZ, TSCO, TSLA, ULTA, CELG, MXIM, CNX, SKX, PXD, KMX, COH, PNR,
Bull Flag Bounces include: GM, SLB,

Horizontal Breakout Setups include: FCX, NUE, RIG, MU, TXN,
Horizontal Breakout include:  


______________________
                                                                                                                                    

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is pointed down at 80. 


16 of 100 NDX stocks closed higher on Thursday.

47 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
FB

Moving Below 30 DMA = 17
ADBE, ADI, ADP, AKAM, ALXN, AMAT, BBBY, CA, CSCO, CTSH, DLTR, EXPE, INTU, LBTYA, ORLY, ROST, XLNX

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

Wednesday, April 27, 2016

Stocks Rally after FOMC No Change...SPY Bull Flag Bounce...FB Gaps Higher After-hours...

Six of nine sectors moved higher on WednesdayXLE, XLU and XLB were the strongest sectors while XLK was the weakest sector for the second day.  Oil futures rose .67 to close at 45.33, its highest close since Nov 5, 2015.

Breadth weakened as advancers led 2.32 to 1 on the NYSE and 1.03 to 1 on the NASDAQ.

Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – strengthened, advancers led
Thursday - weakened, decliners led


SPY up .43 at 209.35 on 77.3 million shares, 7% below average volume
VIX down .19 at 13.77
TLT up 1.27 at 128.52…on 8.3 million shares, 27% above average volume


Technical Commentary:
IWM +0.35%, DIA +0.34%, SPY +0.21%, QQQ -0.80%,


More to follow…

The Fed announced interest rates unchanged today at 2 pm ET.  Following the announcement stock indices rallied.  SPY and DIA made a bull flag bounce entry and IWM broke out of its horizontal bull flag again.

The NDX -36.33 again lagged the other broad indexes and was led lower by AAPL, AMZN, MSFT, REGN, AMGN, GILD, ALXN and GOOG.


Earning’s Announcements:
Positive Reactions:  BSX, AIZ, GCI, FTI, LLL, FE, AKAM, GRMN, GD, EBAY, DPS, BA, CINF
Negative ReactionsTWTR, RHI, GT, RMD, CMG, AAPL, OC, NCR, CHRW, PSA, HES, EQR, COF 

After-hours Reactions:
FB +9.89, +9.08% beat EPS and revenues



Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  









______________________
                                                                                                                                    



Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is at 83. 


57 of 100 NDX stocks closed higher on Wednesday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 6
AKAM, EXPE, FAST, MAR, ROST, WDC

Moving Below 30 DMA = 6
BIDU, CTRP, EA, ENDP, INCY, REGN,

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

Tuesday, April 26, 2016

IWM, SPY, DIA Bounce...QQQ Lower on MSFT, GOOG, AMZN, FB, GILD...After Hours: AAPL Miss on Falling iPhone Sales...

Six of nine sectors moved higher on TuesdayXLE, XLI and XLB were the strongest sectors while XLK was the weakest sector.  Oil futures rose 1.67 to close at 44.66, its highest close since Nov 5, 2015.

Breadth strengthened as advancers led 3.37 to 1 on the NYSE and 1.70 to 1 on the NASDAQ.

Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – strengthened, advancers led
Thursday - weakened, decliners led
Wednesday – weakened, advancers led


SPY up .31 at 208.92 on 75.8 million shares, 9% below average volume
VIX down .12 at 13.96
TLT down .58 at 127.25…on 7.8 million shares, 20% above average volume


Technical Commentary:
IWM +0.98%, SPY +0.15%, DIA +0.06%, QQQ -0.49%,

SPY and DIA bounced today, gave a bull flag entry and IWM broke out of a horizontal bull flag also giving an entry signal.  The bounce we alerted you to watch for occurred today

The NDX -21.16 lagged the other broad indexes and was led lower by MSFT, GOOG, AMZN, FB, GILD and CELG.

FOMC announcement Wednesday 2 pm ET.

Wall Street continued to react to earnings in a mixed wayCNX, PXD, CNC, R, PCAR, NXPI, COH, PNR, MHFI and FCX had a positive earnings reaction while WYN, FLIR, MAS, WHR and WAT reacted negatively.

FB reports Wednesday after the close.

After hours Rections:
AAPL -8.25, -7.91% on a lower revenues, EPS and guidance
CMG -20.27, -4.55% on a lower sales
TWTR -2.39, -13.46% on lower revenue and guidance

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  CTXS, UA, FCX, GM, SLB, CAT, HD, JNJ, MMM, ADBE, AMAT, CTRP, ISRG, NVDA, PCLN, VOD, X, AKS, NUE, STLD, SCHN, SCTY, DFS, RIG,
Bull Flag Bounces include: SPY, DIA, SVXY, XLB, XLI, XLY, FAS, PCAR, AA, AXP, ATVI, MDLZ, TSCO, TSLA, TXN, ULTA, MU,

Horizontal Breakout Setups include: CELG, MXIM, CNX, KORS, SKX,

Horizontal Breakout include: MU, NXPI, QCOM, PXD, R, KMX, COH, PNR, 


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Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is at 85. 


60 of 100 NDX stocks closed higher and one was unchanged on Tuesday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 11
ADI, BBBY, CA, CTSH, DLTR, EBAY, INTU, LBTYA, MU, ORLY, XLNX

Moving Below 30 DMA = 0


6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Neutral

Earnings Reactions...

Tuesday, April 26
Positive Reactions:  PXD, CNC, R, PCAR, COH, PNR, MHFI
Negative Reactions:  WYN, FLIR, MAS, WHR, WAT, FCX

SPY, DIA Continue Day 3 Bull Flag...

Four of nine sectors moved higher on MondayXLP, XLU and XLY were the strongest sectors while XLE was the weakest sector.  Oil futures fell .76 to close at 42.99

Breadth weakened as decliners led 2.02 to 1 on the NYSE and 1.62 to 1 on the NASDAQ.

Monday – weakened, decliners led
Friday – strengthened, advancers led
Thursday - weakened, decliners led
Wednesday – weakened, advancers led
Tuesday – weakened, advancers led


SPY down .36 at 208.61 on 66.1 million shares, 21% below average volume
VIX up .86 at 14.08
TLT down .53 at 127.83…on 5.5 million shares, 14% below average volume


Technical Commentary:
IWM +0.99%, DIA +0.11%, SPY 0.00%, QQQ -1.51%,

SPY and DIA are in day three of a bull flag price pattern and both formed a hammer candle pattern on Monday.  Watch for a bounce as soon as Tuesday.

Wall Street continued to react to earnings in a mixed way.  LH had a positive earnings reaction while XRX reacted negatively.


Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  SPY, DIA, CTXS, TSCO, XLB, XLI, XLY, UA, GM, SLB, DFS, UNP, RIG, ISRG, CTRP, AXP, CAT, HD, JNJ, MMM, WMT, ADBE, AMZN, ATVI, BIDU, CMCSA, JD, MDLZ, NVDA, PCAR, PCLN, TSLA, TXN, ULTA, VOD,
Bull Flag Bounces include: ULTA,

Horizontal Breakout Setups include: CSX, ADSK, NBL, SKX, MXIM, QCOM, WDC

Horizontal Breakout include: DISH

______________________
                                                                                                                                    

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is at 88. 


50 of 100 NDX stocks closed higher on Monday.

52 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
CHTR, LVNTA

Moving Below 30 DMA = 8
ADI, BBBY, CTSH, DISCA, DLTR, EBAY, JD, MYL

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

Monday, April 25, 2016

Flag Traders Alert...

Check out the setups on SPY, DIA, XLY, XLI and XLB...



Friday, April 22, 2016

QQQ Drops on GOOG, FB, SBUX...IWM Gains...

Seven of nine sectors moved higher on FridayXLE, XLF and XLU were the strongest sectors while XLK was the weakest sector.  Oil futures rose .32 to close at 43.75

For the week ended April 22 XLE +5.51%, XLF +2.84%, XLV +2.64%, XLB +2.56%, XLI +0.64%   
led SPY 0.57% 

Lagging sectors XLY, XLK, XLP, XLU

YTD
Leading Sectors: XLE +11.14%, XLU +9.4%, XLB +8.73%, XLI +6.41%, XLP +2.91%,
SPY +2.50%,
Lagging Sectors: XLY +1.66%, XLK +1.42%, XLV –0.22%, XLF -1.17%

Breadth strengthened as advancers led 2.36 to 1 on the NYSE and 1.72 to 1 on the NASDAQ.

Friday – strengthened, advancers led
Thursday - weakened, decliners led
Wednesday – weakened, advancers led
Tuesday – weakened, advancers led
Monday – strengthened, advancers led


SPY unchanged at 208.97 on 99.2 million shares, 15% above average volume
VIX down .73 at 13.22
TLT down .33 at 128.69…on 5.8 million shares, 11% below average volume


Technical Commentary:
IWM +0.99%, DIA +0.11%, SPY 0.00%, QQQ -1.51%,

SPY and DIA are in day two of a bull flag price pattern.  Watch for a bounce next week.


Positive earnings reactions this week continued to outperform index movement which is typical during earnings season.  Earnings continue next week.


Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  SPY, DIA, XLB, XLI, XLY, AXP, CAT, HD, JNJ, MMM, WMT, ADBE, AMAT, AMZN, ATVI, BIDU, CMCSA, CTRP, CTXS, ISRG, JD, MDLZ, NVDA, PCAR, PCLN, TSCO, TSLA, TN, ULTA, VOD,
Bull Flag Bounces include: DD,

Horizontal Breakout Setups include: DISH, MXIM, NXPI, QCOM, WDC
Horizontal Breakout include: BIIB, BMRN, CELG, CSX, VIAB,

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Short-term Movers:
SPX gainers:  MUR, SWN, OKE, MNK, DVN, NBL, NSC, CMA, WMB, RIG, HES, UNP, MRO, HP, MPC, MOS, FFIV, CXO, UA, STI, COP, DFS, LNC, CHK, BK, URI, DO, APA, BAC, TDC, FMC, NAVI, MS, KEY, FCX, APC, KSU, CF, NTRS, JCI, DE, EOG, RF, RRC, ZION, HAL, PFG, ETFC, FTI, TYC, MON, TSO, CNC, NEM, PXD, ADM, CSX, FLS, AXP, HAS, BHI, IRM, COF, NOV, FOSL AGN, WRK, SE, SYF, FITB, TXT, USB, UNH, GM, BBT, DIS, GS, F, OXY, MET, AN 5
SPX losers:  UAL, RCL, KMB, LB, DAL, NI, SPLS, O, CMG, ED, HST, PRGO, AEP, CCL, SCG, EXR, TRV, CMS, HRL, AEE, XEL, COL, QRVO, VTR, PSA, ADS, D, 4

NDX gainers:  ENDP, VIAB, DISH, BMRN, WDC, VRTX, CSX, TSCO, BIIB, PYPL, ALXN, GILD, ESRX, LLTC, QCOM, FOXA, MYL, 3
NDX losers:  LMCA, ILMN, NFLX, NCLH, MSFT, AAL, CHKP, GOOGL, JD, MAT, SWKS, SBUX, MNST, WFM, AAPL, NTES, NTAP, AVGO, EBAY 3

YTD:
SPX Leaders:  NEM, SWN, FCX, RRC, MUR, CHK, OKE, WYNN, URBN, EW, (329, +18 > 10p 144, +3)
SPX Losers:  HRB, RCL, AGN, ADS, WMB, MPC, LB, CF, TSO AN

NDX Leaders:  PCAR, MAT, ISRG, FOXA, AMAT, YHOO, FAST, PYPL, ULTA, DISCK, (50, +3)
NDX Losers:  LMCA, ENDP, VRTX, STX, INCY, WDC, NTES, TRIP, REGN, ILMN

DJI Leaders:  CAT, UNH, CVX, XOM, WMT, MMM, JNJ, UTX, VZ, IBM, (19, -2)

DJI Losers:  BA, INTC, GS, MSFT, AXP, NKE, JPM, TRV, DIS, GE


Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is at 92. 


42 of 100 NDX stocks closed higher and one was unchanged on Friday.

58 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
BBBY, DISCA, KHC

Moving Below 30 DMA = 8
CA, FB, GOOG, INTC, INTU, LRCX, MSFT, SBUX

6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Neutral