Thursday, February 28, 2013

Potential Shooting Star on SPY, IWM, XLF, XLE, XLI and Many More...


Three sectors moved higher on Thursday with XLY, XLU and XLB were the strongest sectors .   XLE was the weakest sector…. 

Breadth weakened however advancers still led decliners1.05 to 1 on the NYSE and decliners leading advancers 1.05 to 1 on the NASDAQ…

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


SPY down .30 at 151.61...volume 126.8 million shares…
VIX up .78 at 15.51
TNX down .15 at 18.88…
TLT up 22 cents at 118.51…
XLF
down 3 cents at 17.59…volume 62.3 million shares

AAPL down 3.17 at 441.40…volume 11.5 million shares…
FB up 38 cents at`27.25on volume of 83 million shares…


Technical Commentary:
The SPY rose 96 cents and exceeded Monday’s high (resistance) by one cent before selling pressure took over and the SPY closed down 30 cents on Thursday.  Traders that sold at the resistance target were rewarded again.  IWM +0.19% closed higher on Thursday while SPY -0.20%, QQQ -0.21% and DIA -0.23% moved lower with all four ETFs forming potential shooting star candles.

AAPL -3.17 continued to trade above its recent low of 435 made on Jan 25.  FB rose 38 cents formed a white hammer like candle while continuing to form a potential MACD bullish divergence.

The Euro gave back Wednesday’s gains falling 82 pips to close near its multi-month support at 1.3056 on Thursday.

Trade what you see on the chart of your position. Many stocks reached resistance targets on Thursday.  The trend is in consolidation and traders should lock in profits when targets are reached.

The SPY’s is neutral trend as XLY led sector and shifted to strong neutral.  XLB continues negative; XLE, XLF, XLI, XLY and XLK are neutral with XLP, XLU and XLV positive.  XLE, XLF, XLI, XLK, XLP, XLV and XLB formed potential shooting star patterns.


The Market Forecast Green Line is pointed up below the upper reversal zone. 

____________________


Setups
Breakout:  TSCO, AIZ, WHR, VMI, JPM, CRR, CPA, MDRX, CBOE, MWV, TXN, MCHP, ATVI, TW, CLB, ORLY

Diagonal Breakout: CSTR, ICE, BBRY, PBI, HES, GME, SINA, CTXS,

Bull Flag:  PM, GNC, P, KORS, ADM, STRZA, NTES, JDSU, SPWR, AVP, GES, IM, AVX, MJN, PRGO

Potential Bullish Divergence:  FB, BBRY, EQIX, ACI, ANR

Gap Up: CRM

Gap Down:

Bear Flag:  LVS, CTL, RAX, SWKS, NBR, PPO, AVGO, ROST, WDC, STX, DNDN, DDD, MGM, A, LIFE, GRMN, NDSN, DDS, IPI, POT, MOS, MON, AGU, CORN, DE, CCL, SLB, STI, EXPD, WFM, SIRI, FOSL

Break of Support:  AMZN, HSP, CNX, OC, JRCC, QCOM, PAY


Moves
Highlights: NFLX, NTES, TPX, BBRY, FB, P, ANGI,

Gap Up:  CLR, PCLN, CWH, ZNGA

Gap Down:  GRPN, JCP, NIHD, CVC, FSLR, GTI, CRI,

Breakout: TPX, LNKD, AWAY, AMGN, STZ, FIVE, FTNT, HPQ, COG,
 
Bounce:  Z, NFLX, HLF, AIZ, BPOP,  ANGI, SHLD, MDRX, FAST, CBG, CNW, AOL, TEX, ZION, PTEN, IBM, XRX, FTI, VMI, PMCS,


MACD Divergence Bounce:  CTSH, ORCL, VECO, STX, RCL, WHR

Bear Flag:  TFM, ULTA, AKAM

Support Break:  FFIV, WLT, BTU, CLF, INT

____________________


42 of 100 NDX stocks closed higher on Thursday…one remained the same…



Leading NDX 100 stocks included:  MYL, ESRX, MU, CELG, LBTYA, MNST, EXPD, LINTA, BIDU, AVGO, FFIV, ADSK,FB, REGN, VMED

Lagging NDX stocks included:  ISRG, SHLD, CTRX, GOLD, NTAP, ORCL, FAST, ALTR, PCLN, GRMN, CMCSA, PRGO, STRZA, ADBE

Leading stocks> +2% on Thursday included: HLF, VECO, GMCR, NFLX

Lagging stocks < -2.0% included:  GRPN, ESI, RVBD, CSTR, ANR, JDSU


Stocks to Watch on Friday…
Holding Above 30 DMA = 53
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX,
MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM, KLAC, MSFT, MYL, PCAR, SRCL, VRTX, XLNX, MDLZ, LBTYA, VRSK, WDC

Moving Above 30 DMA = 1                       
SIAL                                                            

Moving Below 30 DMA = 5
CA, ISRG, PCLN, SHLD, SPLS

                                                                             
Staying Below 30 DMA
CTXS, LINTA, MXIM, VIAB, ADSK, CSCO, EBAY, FFIV, NTAP, XRAY, AMZN, AVGO, BBBY, CTSH, EQIX, FOSL, GRMN, LIFE, ORCL, ROST, SIRI, COST, WYNN, EXPE, SBUX, STX, VOD, WFM, EXPD, DTV, NUAN, AKAM, GOLD, BMC, CHRW, BIDU, ALXN, FB, INTC, REGN, AAPL

Four Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up

Stock Futures Continue Higher In Pre-Market...MNST Up +7.32%...GRPN Down - 27.62% After Earnings Release...


BMO – ES + 1.25 and NQ + 5.00…futures point to a higher open in pre- market
SPY is…up 8 cents…

XLF is …n/a
Euro is unchanged…
TLT is up .45…


Follow your rules for entry and exit…adjust stops to protect profits at this time according to your rules...

Quoting Up:  MNST, SHLD, MYL, GILD, MDLZ, MU, EBAY, CTRX, TSLA, AKS, TSL, ZAGG, SWKS, COH, CLF, V

Quoting Down:  GOLD, SYMC, GRPN, MCP, RVD, TBT, RCL, LNKD



Wednesday, February 27, 2013

TPX Wakes Up as AWAY Flys...Bull Flags Bounce as SPY, Euro Take Off...


All nine sectors moved higher on Wednesday with XLI, XLB and XLF were the strongest sectors .   XLP was the weakest sector for the second straight day. 

Breadth strengthened as advancers led decliners3.26 to 1 on the NYSE and 2.03 to 1 on the NASDAQ…

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


SPY up 1.89 at 151.91...volume 150.7 million shares…
VIX down -2.14 at 14.73
TNX up .24 at 19.03…
TLT down 35 cents at 118.29…
XLF
up 27 cents at 17.62…volume 62.6 million shares

AAPL down -4.40 at 444.57…volume 21 million shares…
FB down 52 cents at`26.87on volume of 44.3 million shares…


Technical Commentary:
Bull flag bounces occurred on many charts as stocks rallied for the second straight day recovering Monday’s Italian election fear driven selloff was reversed with the SPY closing two cents higher that Friday’s close.  Traders that follow the re-entry tactic were rewarded again.  DIA +1.31% made a new high close on Wednesday leading ETFs SPY +1.26%, IWM +1.05% and QQQ +1.02%.

RCL bounced while other at support stocks APPL, BIDU, AKAM and CRUS lagged the market.  FB fell 52 cents formed a black candle while continuing to form a potential MACD bullish divergence.

The Euro bounced at horizontal support from November and January and rose 78 pips to close at 1.3138 on Wednesday.

Trade what you see on the chart of your position. Many stocks gave support bounce entry signals either Tuesday or today.   This is why we guided readers If positions were exited, begin to look for potential re-entry according to your rules.

The SPY’s neutral trend on Wednesday as XLY shifted from negative to neutral.  XLB continues negative; XLE, XLF, XLI, XLY and XLK are neutral with XLP, XLU and XLI positive.   New bull flag bounce pattern emerges today. 


The Market Forecast Green Line is pointed up below the upper reversal zone. 

____________________


Setups
Breakout:  JPM, GRPN, CPA, MDRX, CBOE, MWV, TXN, MCHP, ATVI, TW, CLB, ORLY

Diagonal Breakout: BBRY, PBI, HES, GME, SINA, CTXS,

Bull Flag:  NFLX, PM, P, KORS, ADM, BPOP, STRZA, NTES, JDSU, SPWR, AVP, GES,  AIZ, IM, AVX, GNC, MJN, PRGO

Potential Bullish Divergence:  FB, BBRY, EQIX, ACI, ANR

Gap Up: PCLN, DLTR, VRSK, LNKD,

Gap Down:

Bear Flag:  LVS, CTL, RAX

Break of Support:  AMZN, SWKS, HSP, CNX, OC, NBR, PPO, AVGO, ROST, WDC, JRCC, DNDN, MGM, A, QCOM, PAY


Moves
Highlights: NFLX, NTES, TPX, BBRY, FB, P, ANGI,

Gap Up:  PCLN, CWH, ZNGA

Gap Down:  FSLR, GTI, CRI,

Breakout: TPX, LNKD, AWAY, AMGN, STZ, FIVE, FTNT, HPQ, COG,
 
Bounce:  P, ANGI, SHLD, MDRX, Z, FAST, CSTR, CRR, MWV, CBG, JPM, CNW, AOL, STI, SWKS, TEX, ZION, PTEN, CBOE, ICE, CRM, IBM, SLB, CCL, DE, XRX, FTI, VMI, PMCS, IPI, DDS, NDSN, GRMN, LIFE, TSCO,  


MACD Divergence Bounce:  CTSH, ORCL, VECO, STX, RCL, WHR

Bear Flag:  TFM, ULTA, AKAM

Support Break:  FFIV, WLT, BTU, CLF, INT

____________________


90 of 100 NDX stocks closed higher on Wednesday…



Leading NDX 100 stocks included:  DLTR, VRSK, VRTX, SHLD, SYMC, DISCA, EXPD, MU, CHRW, FAST

Lagging NDX stocks included:  FB, FFIV, ADSK, GOLD, AAPL, ALTR, BIDU, EQIX, NUAN, LINTA

Leading stocks> +2% on Wednesday included: TPX, GRPN, LNKD, CSTR, FAS, UAL, SWKS, HLF, F, MOS, GMCR, COH, YELP, WDC, ATI, GS, GLW, RCL, SSYS, CRM, SWK, SWI, C, VECO, ANF, ANF, SLB, CREE

Lagging stocks < -2.0% included:  LDK, FAZ, TSL


Stocks to Watch on Thursday…
Holding Above 30 DMA = 44
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, SPLS, ATVI, CERN, ISRG, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX,
MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM

Moving Above 30 DMA = 14                      
CA, KLAC, LBTYA, MDLZ, MSFT, MYL, PCAR, PCLN, SHLD, SRCL, VRSK, VRTX, WDC, XLNX                                                                                                   

Moving Below 30 DMA = 0

                                                                             
Staying Below 30 DMA
CTXS, LINTA, MXIM, VIAB, ADSK, CSCO, EBAY, FFIV, NTAP, XRAY, AMZN, AVGO, BBBY, CTSH, EQIX, FOSL, GRMN, LIFE, ORCL, ROST, SIAL, SIRI, COST, WYNN, EXPE, SBUX, STX, VOD, WFM, EXPD, DTV, NUAN, AKAM, GOLD, BMC, CHRW, BIDU, ALXN, FB, INTC, REGN, AAPL

Four Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up

Stock Futures Positive In Pre-Market...


BMO – ES  + .50 and NQ + 2.00…futures point to a higher open in pre- market
SPY is…down 10 cents

XLF is down 2 cents…
Euro is up 12 pips…
TLT is up .55…


Follow your rules for entry and exit…adjust stops to protect profits at this time according to your rules...

Quoting Up:  PCLN, DLTR, AVGO, VOD, GOOG, MU, CSCO, INTC, ZAGG, COH, GRPN, LNKD, BBRY, ANR, RCL

Quoting Down:  WYNN, WFM, AAPL, TSL, TBT, SLB

Tuesday, February 26, 2013

PCLN Gaps Up After EPS...Euro Holds...SPY, DIA, IWM, QQQ Form Hammers and Haramis...


All nine sectors moved higher on Tuesday with XLB, XLE and XLY were the strongest sectors .   XLP was the weakest sector. 

Breadth strengthened as advancers led decliners1.98 to 1 on the NYSE and 1.53 to 1 on the NASDAQ…

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


SPY up 1.02  at 150.02...volume186.5 million shares…
VIX down 2.12 at 16.87
TNX down .16 at 18.79…
TLT down 69 cents at 118.64…
XLF
up 9 cents at 17.35…volume 74.3 million shares

AAPL up 6.17 at 448.97…volume 17.9 million shares…
FB up 12 cents at`27.39on volume of 31.6 million shares…


Technical Commentary:
Stocks rallied as the Euro was flat after discounting Italian election fears that Italy’s austerity program could be threatened into current market levelsBuyers took advantage of lower prices and DIA +0.81%, SPY +0.68%, IWM +0.39% and QQQ +0.38% all rallied on Tuesday.

AAPL shares moved up 6.17 forming a bullish harami.  APPL, BIDU, AKAM, CRUS and RCL are the type of pattern where some traders look to sell premium strategies at this technical formation.  FB gained 12 cents formed a hammer while continuing to form a potential MACD bullish divergence.

The Euro fell 1 pip and closed at 1.3060 on Tuesday.

Trade what you see on the chart of your position. Many stocks may have produced exit signals, break of support and bear flag entry signals since last Wednesday.  If positions were exited, begin to look for potential re-entry according to your rules.

The SPY has shifted to a neutral trend as XLB and XLY are negative; XLE, XLF, XLI and XLK are neutral with XLP, XLU and XLI positive.   Friday’s bull flag bounce pattern failed on Monday. 


The Market Forecast Green Line is pointed down below the upper reversal zone. 

____________________


Setups
Breakout:  CPA, TXN, MCHP, ATVI, TW, CLB, ORLY

Diagonal Breakout: BBRY, PBI, HES, GME, SINA, CTXS,

Bull Flag:  CBOE, MDRX, NFLX, PM, SHLD, P, ANGI, KORS, ADM, PTEN, BPOP, TEX, ZION, STRZA, FAST, NTES, LNKD, ICE, AWAY, JDSU, MWV, CBG, PMCS, SPWR, AVP, GES, CNW, AOL, XRX, FTI, VMI, AIZ, JPM,  IM, AVX, Z, GNC, MJN, CSTR, FSLR, PRGO

Potential Bullish Divergence:  FB, CTSH, ORCL, BBRY, EQIX, VECO, STX, RCL, ACI, ANR, WHR

Gap Up: PCLN

Gap Down:

Bear Flag:  LVS, CTL, RAX

Break of Support:  AMZN, SWKS, HSP, CNX, OC, NBR, PPO, AVGO, ROST, WDC, JRCC, DNDN, MGM, A, QCOM, PAY


Moves
Highlights: NFLX, NTES, TPX, BBRY, FB, P, ANGI,

Gap Up:  CWH, ZNGA, AMGN

Gap Down:  DDS, INT, NDSN,

Breakout: STZ, FIVE, FTNT, HPQ, COG,
 
Bounce:  TSCO, CRR,

MACD Divergence Bounce:

Bear Flag:  TFM, ULTA, AKAM, STI, SWKS,

Support Break:  FFIV, STX, CRM, SLB, WLT, BTU, GRMN, LIFE, DE, CCL, CLF, IPI

____________________


65 of 100 NDX stocks closed higher on Tuesday…and one was unchanged…


Leading NDX 100 stocks included:  GOLD, AMAT, ALTR, WDC, SNDK, CERN, BIDU, LBTYA, MDLZ, INTC, KLAC

Lagging NDX stocks included:  EXPD, SPLS, LINTA, XLNX, VRTX, CHRW, MNST, SHLD, ALXN, ATVI, CTRX

Leading stocks> +2% on Tuesday included: ZAGG, GMCR, TIF, VECO, NFLX, TPX, WDC, CREE, VMW

Lagging stocks < -2.0% included:  ESI, TSL, CSTR, CRUS, SWKS, SSYS


Stocks to Watch on Wednesday…
Holding Above 30 DMA = 36
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, SPLS, ATVI, CERN, ISRG, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX,
MNST, AMGN, DISCA, MU, SBAC, TXN

Moving Above 30 DMA =8                      
ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM                                                                                                     

Moving Below 30 DMA = 2
MYL, XLNX
                                                                            
Staying Below 30 DMA
CA, CTXS, KLAC, LINTA, MSFT, MXIM, SHLD, SRCL, VIAB, ADSK, CSCO, EBAY, FFIV, NTAP, PCAR, PCLN, QCOM, XRAY, AMZN, AVGO, BBBY, CTSH, EQIX, FOSL, GRMN, LIFE, ORCL, ROST, SIAL, SIRI, VRSK, VRTX, WDC, COST, WYNN, EXPE, SBUX, STX, MDLZ, VOD, WFM, EXPD, LBTYA, DTV, NUAN, AKAM, GOLD, BMC, CHRW, BIDU, ALXN, FB, FISV, INTC, REGN, AAPL

Four Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Down