SPY Breaks Support, FB, PNRA Gap Up...NFLX Down After Hours...

All nine sectors moved down on Tuesday…XLY, XLU and XLI were the strongest sectors.

Breadth weakened on Tuesday as decliners led advancers…2.74 to 1 on the NYSE and 1.80 to 1 on the NASDAQ…

Exchange      NYSE     NASDAQ

Advancers        804           884
Decliners       2,209        1,593

SPY down 1.99 at 141.42...volume 191.7 million shares

VIX +2.21 at 18.83…
TNX -0.34 at 17.64…
TLT up 1.73 at 122.69…
XLF down 27 cents at 15.84…volume 64.6 million shares

AAPL down -20.67 at 613.35…volume 25.2 million shares …

FB up 18 cents at`19.50… volume 75.6 million shares…

Technical Commentary:
The Euro dropped 82 pips on Tuesday as did interest rates, XLF and SPY…bonds TLT moved higher…JRCC rose as other Coal stocks BTU, ACI, ANR, WLT, and CNX pulled back.

ES breaks 1,424 and 1,414 support levels.  NQ holds 2,650 support and is forming a potential MACD histogram bullish divergence.

The SPY broke its 143.09 and 142.33 support levels and moved below its sideways trend and formed another hammer...a support bounce signal did not appear on the SPY but it did appear on several individual stocks.

Selectivity continues to be the key during earnings season as there are both many positive and negative earnings reaction.

Morning earnings on COH, VMED sent both stocks higher on Tuesday and RF moved lower.

Earnings after the close:

FB, PNRA, VMW and AMGN gap higher

NFLX, CHRW gap lower

Earnings continue on Wednesday and Thursday.

Earnings Watch:

Positive Reactions – FB, PNRA, COH, VMED, VMW, AMGN, VECO, WHR, HOG, R, RSH, CSL, LXK BTU, YHOO, CAT, RVBD, SNDK, WCC, EBAY, MAN, COF, RHI, LRCX, STT, MAT, ISRG, GS, C, PII, DPZ
Negative Reactions – NFLX, CHRW, RF, WDC, DD, CIT, RF, ALV, BMRN, STI, GOOG, IBM, APOL, CHKP, INTC, INFY, CHKP, AXP, XLNX, MSFT, CMG, MS, FLEX, AMD, ETFC, PH, APD, ALGN, MLNX,

Monday –ZION, TXN

Tuesday –ALTR, BRCM, SIAL, JNPR
Wednesday –AKAM, FFIV, ALXN, GLW, BMC, ORLY, SRCL, SYMC, ATI, CLF
Thursday –AAPL, AMZN, BIDU, PCAR, CERN, CTXS, ESRX, EXPE, FSLR, GILD, WYNN, BIIB, CA, CELG, EA, KLAC, MXIM, MYL, VRSN, VRTX, XRAY, PHM, RCL, SWI, INFA, ESI
Friday - CMCSA

Chart Targets:

SPY = 147.88 2.61 Fib
ES = 1,466.002.61 Fib on ESZ2
EUR/USD = 1.3095 1.60 Fib, 1.3345S&R Measuring

Short-term support at
141, 139.40 = SPY
1,400, 1,390 = ES
2,650, 2,610 = NQ

Setups:
Bull Flag: URI, C, DE, LVS, FAS, HLF, RCL, CLF, CRUS, DECK, ATI, AKS, GLW, TIF, JNPR, AMGN, CHRW, CMCSA, DTV, FAST, FISV, FOSL, EBAY, LINTA, LRCX, SRCL, WYNN, GMCR, BTU, CNX, WLT, X, ISRG, CHL, MAN, COF, RHI, CYN,

Resistance BO Setup: RVBD, BIDU, CTRP, ANR, ACI, CDE, CRUS, LCC, HUM

At Support: DISCA, V, MA, NWSA, BRCM, AAPL, CTSH, GOLD, SWKS,  QCOM, FLEX, AVGO, JDSU, COST, CSCO, ESRX, FFIV, GOOG MXIM, MYL, ORCL, PAYX, PCLN, STX, SYMC, VRSN, AKAM, LIFE, LLTC, CA, CELG, SBUX, LULU, PNRA, VRTX, ETFC,

Hammer: ADBE, ADP, ALXN, AMAT, AMGN, AVGO, CHRW, CMCSA, DTV, ESRX, FLEX, FOSL, GMCR, GRMN, INFY, KRFT, LIFE, LRCX, MYL, PCAR, PNRA, QCOM, SBUX, SIRI, SPLS, VRSN, VRTX, WCRX, WYNN, FSLR, DE, FAS, XLF, CLF, GLW, TIF, JNPR, HLF, PH,

Inverted Hammer: CELG, CSCO, EA, EBAY, NTAP, VOD, C, CMG, APD

Moves:

Gap Up: YHOO, WHR, COH, R,
Gap Down: DD, CIT, RF, ALV, BMRN, HUN

Support BO: MNST, CERN, ALXN, BIIB, IBM, SIAL, WFM, BBBY, ADSK, AMZN, MSFT

Resistance BO: HOG, ISRG, ADBE

Bounce: ORLY, SHLD, EXPD, EXPE, MCHP, NVDA, VMED, JRCC, TSL, LCC, PCLN, FB, MRVL, RSH, CSL, INFA, LXK

35 OF 100 NDX stock closed higher on Tuesday…

Leading NDX 100 stocks included: YHOO, VMED, NVDA, ORLY, EXPD, EXPE, MRVL, CHRW, SHLD, ROST

Lagging NDX stocks included: MNST, GOLD, NTAP, AAPL, ALXN, VIAB, NWSA, DELL, BBBY, BIIB

Leading stocks > +2% on Tuesday included: COH, VECO, INFA, FAZ, RVBD, CREE, TSL, CSTR, CIEN

Lagging stocks < -2.0% included: AKS, UCO, CDE, TPX, ANR, X, FAS, ATI, FCX, CLF, GS, RCL, LNKD, TBT, SLB, WDC, C, GRPN, MOS, ZAGG, URE

Stocks to Watch on Wednesday…

Holding Above 30 DMA
VMED, CHRW, CMCSA, WYNN, LINTA, RIMM, SIRI, NFLX, SHLD, FISV, AMGN, BIDU, ISRG, ADBE, FOSL, LRCX, MAT, SRCL, EBAY, FAST

Moving Above 30 DMA = 2

EXPD, YHOO

Moving Below 30 DMA = 7
CTSH, GOLD, INTU, NWSA, PCAR, SIAL, VIAB

Staying Below 30 DMA

GILD, ADP, ALXN, CELG, EA, ESRX, MNST, MXIM, PNRA, TXN, VRSN, WFM, XRAY, BIIB, FLEX, GOOG, LIFE, MYL, SNDK, AKAM, CHKP, ORCL, APOL, INFY, ORLY, VRTX, CERN, COST, SPLS, AMZN, BMC, EXPE, FFIV, GRMN, HSIC, LLTC, PCLN, VOD, WCRX, ADSK, DLTR, DTV, NUAN, QCOM, SBUX, AAPL, ATVI, BRCM, CA, MSFT, NTAP, PAYX, XLNX, CTXS, GMCR, SYMC, CSCO, MU, ALTR, BBBY, AMAT, KLAC, MCHP, AVGO, ROST, STX, NVDA, DELL, INTC, MRVL, KRFT

Six Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Down