Tuesday, February 5, 2013

SPY, EURO Bounce After One Day Pullback...AAPL, QQQ Bounce...


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

Breadth strengthened as advancers led decliners…2.71 to 1 on the NYSE and 2.64 to 1 on the NASDAQ…

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

BBRY new symbol for RIMM.

While the chart continues in an uptrend today may have been the first day of the potential pullback we have been prepared for.

SPY up 1.52 at 151.05...volume 113 million shares…
VIX down .95 at 13.72
TNX up .43 at 20.16…
TLT down 1.04 at 115.98…
XLF
up .17 at 17.58…volume 47.3 million shares

AAPL up 15.53 at 457.84…volume 20 million shares…
FB up .53 at`28.64on volume of 47.9 million shares…


Look for stocks that have reported good earnings and are in an uptrend. 

Earnings to Watch this Week:
Monday – BIDU, XRAY, GILD, HUM, LIFE, RCL, SOHU, SWI
Tuesday – ADP, CME, CMG, EXPE, FISV, HCA, K, PNRA, SIRI, VMED, DIS, ZNGA
Wednesday – AKAM BMCR, LF, NTES, NWSA, NUS, ORLY, PRU, TSO, TWX, V, YELP
Thursday – CTSH, CSTR, HAS, LNKD, MCHP, NUAN, OPEN, PCAR, PM, RVBD, SIAL,
Friday – AOL, CBOE, MCO 

Positive earning reaction ADP, EXPE, PNRA, DIS

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Technical Commentary:
The SPY bounced higher after a one day pullback just 19 cents below its all time closing high last Friday.  QQQ +1.47%, SPY + 1.01%, IWM  +0.90%, DIA + 0.59% moved higher as AAPL shares moved up 15.53 forming a bullish engulfing pattern.  FB moved up 53 cents forming a bullish harami pattern.

The Euro closed up 69 pips to close at 1.3581 in a bull flag pattern.

Trade what you see on the chart of your position. Stay with the uptrend according to your rulesIf the stock begins to rollover protect your profits.  Many traders may have exited short term trades with profits on Monday.  So look potential re-entry.

Disk storage stocks WDC and STX were higher.

Coal stocks ANR, ACI, BTU, WLT were lower on Tuesday


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

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Setups
Breakout: DECK, GMCR, JNPR, CERN, C, FFIV, TEX, SHLD, LVLT, RSH, ATML, NUAN, STRZA

Diagonal Breakout:  ZNGA, SWK, LSI, MGM, STI, SBAC, ESI, GES,

Bull Flag: PCLN, MON, CRM, XRX, DE, QCOM, CTXS, PBI, WMS,TIF, PMCS, MTW, PRGO, LVS, CRR, ATI, COST, ADI, AVX, SWKS, FTNT,  VIAB, FAST, MOS, SINA, HES, LIFE, APKT, GCI, TIF, RCL,

Gap Up: 

Gap Down: 


Moves
Gap Up:  

Gap Down:  BIDU

Breakout:  CLB, GME, JDSU, CLF, CHK
 
Bounce: BBRY, NFLX, DNDN, RMD, BPOP, PCLN, MJN, UNG, TSCO, ZION, FIVE, GS

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92 of 100 NDX stocks closed higher on Tuesday and one remained the same…


Leading NDX 100 stocks included:  VMED, EXPE, AAPL, AMAT, ESRX, ADP, CMCSA, AMZN, GILD, SYMC, DTV, NVDA, ALST, VRTX

Lagging NDX stocks included:  BIDU, LBTYA, GOLD, AKAM, GRMN REGN, VOD

Leading stocks> +2% on Tuesday included: YELP, BAC, GAS, CIEN, MCP, TIF, F, CSTR, HUM, VECO

Lagging stocks < -2.0% included:  SWI, FAZ, ANR, GRPN

Stocks to Watch on Wednesday…
Holding Above 30 DMA = 78
SBUX, CSCO, VMED, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, ADSK, DELL, FFIV, ORCL, COST, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CHRW, SIRI, BIDU, VRSK, ADP, EBAY, EXPE, LINTA, MU,  SRCL, SYMC, WYNN, CA, CELG, GILD, HSIC, LIFE, PCLN, MDLZ, CTRX, ROST, SPLS, AVGO, ATVI, SHLD, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, VOD,  ISRG, GOOG, ORLY, BBBY, BIIB, MAT, PAYX, AKAM, CTXS, QCOM, ADBE, PRGO, GOLD                                                        

Moving Above 30 DMA =10                                  
AMGN, AMZN, BMC, CMCSA, DLTR, DTV, ESRX, INTU, NVDA, VRTX             

Moving Below 30 DMA = 1
BIDU                                                                                                                                 

Staying Below 30 DMA
ALXN, FISV, INTC, YHOO, FB, SBAC, BRCM, ALTR, REGN, GRMN, MNST, AAPL

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