SPY Makes New High Close...AMZN Gaps Higher After Hours...

Eight of nine sectors moved higher on Tuesday… XLE, XLV and XUI were the strongest sectors.   XLY was the weakest sector.. 

Breadth strengthened as advancers led decliners…1.41 to 1 on the NYSE and 1.21 to 1 on the NASDAQ…

Tuesday – strengthened, advancers led

Monday – weakened, decliners led on NYSE and advancers led on NASDAQ

Friday – strengthened, advancers led

Thursday – strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

The chart continues to indicate that the uptrend is more likely to continue, stay prepared for a potential pullback.

SPY up 59 cents at 150.66...volume 105.6 million shares…

VIX down .26 at 13.31…
TNX up .14 at 19.88…

TLT down 65 cents at 116.95…
XLF up 7 cents at 17.47…volume 37.4 million shares

AAPL up 8.44 at 458.27…volume 20.3 million shares…

FB down 1.68 at`30.79…on volume of 72.9 million shares…EPS Jan 30…bull flag bounce

Look for stocks with good earnings and guidance to likely rise and those with either weak earnings or guidance likely to fall in price. 

Earnings to Watch this Week:

Monday – BMC, CAT, STLD, VMW, YHOO, ZION, STX

Tuesday – AKS, AMZN, BRCM, DHR, GLW, HOG, IP, BTU

Wednesday – BA, CTXS, EA, JDSU, QCOM, SWKS

Thursday – AET, MO, CTRP, MA, PCAR, POT, PHM, UA, VIAB, WHR

Friday – CVX, XOM, MAT, MRK, PRGO

BTU rose 5.56% following earnings early this morning.  AMZN gapped up 23.15, 8.89% in after hours after releasing earnings.

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Technical Commentary:

The SPY formed another white candle rising 59 cents to a new high close. SPY  +0.39%.  IWM +0.6%, QQQ +0.01% and DIA +0.42%, as AAPL shares bounced 8.44 forming a doji.  FB closed below the low of the high day..

The Euro was up 36 pips to close at 1.3490 on Tuesday in its strong uptrend.

Trade what you see on the chart of your position.  If it is breaking out of resistance take the trade or stay with the uptrend according to your rules.  If the stock begins to rollover protect your profits.

Disk storage stocks fell, WDC - 5.20% and STX - 9.36% gapped lower.

BTU after releasing earnings lead coal stocks ANR, ACI, CNX, and JRCC higher after releasing earnings.

The Market Forecast Green Line is in the upper reversal zone. 

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Setups

Breakout:  VIAB, ZION, COST, ADI

Diagonal Breakout:  BAC, CLF, SBAC

Bull Flag:  C, MGM, STI, CRM, FFIV, RSH, AVX, ZNGA, NIHA, XRX

Gap Up:  AMZN

Gap Down:    

Moves

Gap Up:  HES, VLO, DHI, HFC, TUP, TSO

Gap Down:  BMC, STX, VMW, WDC, CTXS, LXK, FTNT, ASH 

Breakout:  CERN, FAST

 

Bounce:  TEX, BPOP, NUAN, STRZA, SHLD, ESI

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44 of 100 NDX stocks closed higher on Tuesday and three were unchanged…

Leading NDX 100 stocks included:  BIIB, REGN, SPLS, PAYX, AAPL, GOLD, DELL, CERN, AMGN, GILD, INTC, ADP, VRTX

Lagging NDX stocks included:  STX, BMC, AMZN, WDC, FB, CTXS, MU, YHOO, EQIX, NVDA, PRGO, BIDU, ROST

Leading stocks> +2% on Tuesday included: NFLX, ATI, ANR, ANF, CLF, UCO, GS, CHL

Lagging stocks < -2.0% included:  VMW, WDC, FB, RVBD, F, GMCR, JSDU, SWI,  UAL, CIEN, HLF, LVS, RIMM, DECK

Stocks to Watch on Wednesday…

Holding Above 30 DMA = 86
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, ADSK, DELL, FFIV, ORCL, COST, ADBE, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU,  SRCL, SYMC, VRTX, WYNN, FB, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, BMC, AVGO, ATVI, SHLD, YHOO, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, VOD, DLTR, ISRG, GOOG, ORLY, AKAM, BBBY, FISV, NVDA

Moving Above 30 DMA = 1

BIIB

               

Moving Below 30 DMA = 1

MAT                                                                           

Staying Below 30 DMA

ALTR, INTC, PAYX, ALXN, ESRX, PRGO, REGN, AMGN, GRMN, MNST, AAPL, GOLD

Nine Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up