Tuesday, April 22, 2014

Six Days in April...IWM, QQQ Lead as NFLX Gaps Up, MU New High as FB, TSLA, WYNN, ILMN Rise...

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 higherWatch 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

Ahead Of Opening...Stock Futures Quiet...NFLX Excited Investors...Rises 7.82%...Investors Go Hog Wild After HOG Earnings Report... HOG Up 6.68%...

 BMO – ES - .50…and NQ + 3.50…stock futures point to a mixed open in pre-market…

SPY is up .07…

XLF is unchanged…
Euro is up 22 pips…
TLT is up .07…                                                                                                                                                                                                                                                                                             
Follow your rules for entry and exit…and always remember to adjust stops to protect profits also according to your rules...

Quoting Up: NFLX, FB, GILD, MU, HOG, FSLR, SWKS, CSIQ, ANR, DDD

Quoting Down: AAPL, Z, NTES


Monday, April 21, 2014

NFLX Gaps Up in After-hours Trading...With Reported Earnings Better Than Expected...S&P 500 Has First Five Day Winning Streak Since October...SCSS Up 10.31%...Z Up 7.57%...MU, FB Raised Targets...

Seven of nine sectors moved higher on Monday XLV, XLE and XLK were the strongest sectors…XLU was the weakest sector again.   

Breadth strengthened as advancers led decliners 1.63 to 1 on the NYSE and 1.54 to 1 on the NASDAQ.

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


SPY up .65 at 187.04 on 67.9 million shares, almost 50% of normal volume
VIX down .11 at 13.25…
TNX up at 27.21…
TLT down .09 at 119.96...
XLF down .02 at 21.84 on 30.6 million shares

AAPL up 6.23 at 531.17 on 6.5 million shares
FB up 2.30 at 61.24…on 59.7 million shares, Credit Suisse upgrades FB from neutral to Outperform and raises price target from 65 to 87.


Technical Commentary: 
QQQ + 0.74%, IWM + 0.47%, SPY + 0.35%, DIA + 0.17%.

The SPX closed higher for the fifth straight day up +3.1% from April 11 and +1.27% since Dec 31.  The broad indexes were led by the NDX +25.42, +0.72%.

NDX point leaders included AAPL, FB, AMZN, GILD, BIIB, CMCSA, MU, AMGN and BIDU which combined for +20.4 points offset by GOOG -1.9 NDX points.

MU +1.41, +5.90% led the NDX after an analyst price target of $50.

HAL +2.02, +3.32%, HAS +1.05, +1.92% and STI +0.56, +1.48% gained after reporting earnings before the open on Monday.

NFLX +23.71, +6.80% after reporting earnings after the close on Monday. 

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, HNPR, 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, HAL, HAS, STI, BHI, BX, C, GE, GME, IBKR, INTC, JNJ, KO, MS, SCHW, SNDK, UNP, URI, WFC, YHOO

Negative Reactions – KMB, 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: CREE, ETFC, MFRM, MS, MTW, NKE, PANW, CRM, QIHU, SCTY, SFUN, SOHU, SSYS, UBNT, YNDX, YOKU, AAPL, AKAM, AMZN, BIDU, CELG, COST, FFIV, GRMN, NFLX,
Diagonal Breakout: AAL, C, CTRP, HOG, SCHW, SWKS, ZION, BAC, DDD, ESI, EBAY, GILD, GMCR, MSFT, PCLN, SBUX, TRIP, TXN, XLNX,
Bull Flag:  
One Day:  
Potential Bullish Divergence:
Gap Up
Gap Down:     
Bear Flag: 
At Support: X, WLT, ESRX, ROST,
C- Pattern:   

Moves
New Highs: UPL, Z,     
Gap Up: STI, MU,     
Gap Down:
H Breakout: SCSS, TPX, NTES, SWI, WDC,  
Diagonal Breakout: JDSU, LNKD, P, XONE, FB, TSLA,
Breakout Test:
Bull Flag Bounce:   
Bounce: IBM, SPWR, WFM,
MACD Divergence Bounce:
Bear Flag
Support Break:   
______________________


71 of 100 NDX stocks closed higher on Monday and one was unchanged.

Leading NDX 100 stocks included: MU, CHTR, ILMN, FB, NXPI, TSLA, MYL, VIP, BIDU

Lagging NDX stocks included: WYNN, GOOG, ESRX, CTSH, TRIP, DLTR, CTRX, FISV

Leading stocks > +2% on Monday included: SCSS, Z, MFRM, TPX, FSLR, SWKS, GOGO, P, XONE, NTES, SPWR, ESI, YELP, SFUN

Lagging stocks < -2.0% included: PANW, WLT, QIHU, SPLK


Stocks to Watch on Tuesday
Holding Above 30 DMA= 26
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

Moving Above 30 DMA = 8
AAPL, BIDU, CHKP, CMCSA, FFIV, FOXA, ORLY, SBAC

Moving Below 30 DMA = 0


Staying Below 30 DMA
ISRG, AMAT, BRCM, DTV, KLAC, NTAP, TXN, LLTC, MAT, MXIM, PCAR, XLNX, BBBY, ALTR, AMGN, ATVI, CTSH, PAYX, ROST, DISH, AVGO, EXPE, HSIC, SBUX, VIAB, DISCA, TSCO, ADP, CHTR, CTXS, INTU, AKAM, EBAY, ESRX, TRIP, AMZN, BIIB, DLTR, MYL, WFM, LMCA, TSLA, GMCR, ADBE, ALXN, FB, REGN, CERN, PCLN, WYNN, LBTYA, MNST, NFLX, ILMN, SRCL, EQIX, CA, VRSK, ADSK, VOD, CELG, GILD, VRTX, SIRI, CTRX, GOOG

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up

Stock Futures In Pre-Market Begin Week Flat...Quiet...


BMO – ES + 1.00…and NQ + 8.00…stock futures point to a higher open in pre-market…

SPY is down .02…

XLF is down .01…
Euro is unchanged…
TLT is up .25…                                                                                                                                                                                                                                                                                             
Follow your rules for entry and exit…and always remember to adjust stops to protect profits also according to your rules...

Quoting Up: MU, ESRX, STX, NFLX, SCSS, SSYS, LNKD,

Quoting Down: NKE, SWI, YNDK


Thursday, April 17, 2014

RUT Leads on Expiration Thursday Before 3-day Weekend...Earnings Heat Up as SNDK, BHI, MS, URI, GE Gap Higher...IBM, UNH Gap Lower...GOOG Down...

Six of nine sectors moved higher on Thursday heading into the three day weekend…XLE, XLI and XLB were the strongest sectors…XLU was the weakest sector.    

Breadth weakened as advancers led decliners 1.40 to 1 on the NYSE and 1.76 to 1 on the NASDAQ.

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


SPY up .27 at 186.39 on 105.2 million shares
VIX down .82 at 13.36…
TNX up .84 at 27.21…
TLT down 1.22 at 110.05...
XLF up .04 at 21.86 on 47.9 million shares

AAPL up 5.93 at 524.94 on 10.2 million shares
FB down .78 at 58.94…on 88 million shares


Technical Commentary: 
IWM + 0.50%, SPY + 0.14%, QQQ + 0.02%, DIA -0.08%.

The RUT led broad indexes on Thursday which traded in a narrow expiration day range going into the 3-day Easter holiday weekend.  Earnings reaction provided much of the action Thursday with SNDK +7.14, +9.41%, BHI +2.02, +3.05%, MS +0.87, +2.91%, URI +1.97, +2.16%, GE +0.44, +1.68% and BX +0.40, +1.29%.

GOOG -20.44, -3.67% and IBM -6.39, -3.25% were lower on a negative earnings reaction following earnings after the close on Thursday

MU +1.43, +6.36% gaps higher on heavy volume.  SHLD +4.73, +14.08% after a report of insider buying of 475,000 shares. 

The NDX +1.44 was led by 11.3 NDX points from AAPL, QCOM, MU, SNDK, VIP and GILD and offset by GOOG, MSFT and FB with -9.4 NDX points.

The SPX was led by SNDK, MU, WPX, NFLX and PPG while leading losers included ADS, CMG, WU, FITB and WLP.

LLTC rebounded +1.30, +2.88% on Thursday after moving down -2.06, -4.37% on a negative earnings reaction Wednesday. 

While short-term market direction will be highly influenced by earning reactions next week the weight of the evidence on the chart on Thursday suggests up trend continuation next week.


Earnings continue on Monday with a number of big names including NFLX, HAL, STI and ZION.

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, HNPR, 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 – SNDK, YHOO, BHI, BX, GE, MS, UNP, URI, IBKR, INTC, JNJ, KO, SCHW, C, GME, WFC,

Negative Reactions – GOOG, IBM, STLD, UNH, BAC, LLTC, BBRY, FAST, JPM, MU

Reversal in progress –LLTC,

Reversal of Initial Reaction –


The SPY Market Forecast green line is pointed up at 34.

____________________

Setups
H Breakout: C, GME, KKD, NKE, PANW, SCSS, SPY, Z, BX, CRM, LNKD, NTES, QIHU, SINA, SWI, UBNT, UNG, ADSK, CTSH, INTC, MNST, SNDK, TRIP, WDC,
Diagonal Breakout: CTRP, FSLR, IWM, JDSU, MFRM, QQQ, GMCR, GRMN, PCLN,
Bull Flag: YHOO 
One Day:  
Potential Bullish Divergence:
Gap Up
Gap Down:     
Bear Flag: CSIQ, DDD, GOGO, TSL, XONE,
At Support:  
C- Pattern:   

Moves
New Highs: ATI,    
Gap Up: SNDK, MU, BHI, MS, URI, GE, BX,     
Gap Down: IBM
H Breakout: SPLK, ADBE, MU, QCOM,
Diagonal Breakout: GLW, MTW, MNST,
Breakout Test:
Bull Flag Bounce: UPL, 
Bounce:
MACD Divergence Bounce:
Bear Flag
Support Break
   
______________________


63 of 100 NDX stocks closed higher on Thursday.

Leading NDX 100 stocks included: SNDK, VIP, MU, NFLX, MNST, LLTC, AVGO, ADSK, ADBE, EXPD

Lagging NDX stocks included: GOOG, CTRX, LMCA, FB, BBBY, ESRX, REGN, MAT, NTAP, MSFT


Leading stocks > +2% on Wednesday included: MS

Lagging stocks < -2.0% included: IBM


Stocks to Watch on Monday
Holding Above 30 DMA= 20
MAR, GRMN, KRFT, FAST, INTC, QCOM, STX, WDC, CSCO, CHRW, SPLS, NVDA, SYMC, LINTA, MSFT, COST, EXPD, SIAL, YHOO, MDLZ

Moving Above 30 DMA = 6
ADI, FISV, MU, NXPI, SNDK, VIP

Moving Below 30 DMA = 0


Staying Below 30 DMA
ISRG, AMAT, BRCM, CHKP, DTV, KLAC, LLTC, MAT, MXIM, NTAP, PCAR, XLNX, TXN, FOXA, AMGN, AVGO, BBBY, ROST, DISH, AAPL, ALTR, ATVI, CMCSA, CTSH, HSIC, PAX, VIAB, DISCA, ADP, EXPE, SBUX, CHTR, TSCO, CTXS, INTU, FFIV, TSLA, AKAM, AMZN, EBAY, ESRX, MYL, WFM, LMCA, TRIP, ADBE, BIIB, DLTR, GMCR, ALXN,CERN,FB, REGN, PCLN, WYNN, LBTYA, SBAC, ILMN, BIDU, MNST, ORLY, SRCL, EQIX, NFLX, CA, VRSK, ADSK, VOD, CEELG, GILD, VRTX, SIRI, CTRX, GOOG

Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Up