DJIA, SPY New All-time High Close...AAPL Bounces...CREE Gaps on New LED Bright Idea...

All nine sectors moved higher on Tuesday as the DJIA hits new all-time high.  XLI, XLK and XLY were the strongest sectors …XLP was the weakest sector…. 

Breadth strengthened as advancers led decliners…2.87 to 1 on the NYSE and 2.30 to 1 on the NASDAQ…

Tuesday – strengthened, advancers led

Monday – weakened slightly, advancers led

Friday – strengthened, advancers led

Thursday – weakened, advancers led

Wednesday – strengthened, advancers led

SPY up 1.37 at 154.29...volume 121.4 million shares…

VIX down -0.53 at 13.48
TNX up 0.17 at 18.94…

TLT down 34 cents  at 117.93…
XLF up 15 cents at 17.94 volume 66.3 million shares

AAPL up 11.94 at 431.14…volume 22.8 million shares…

FB down 20 cents at`27.52…on volume on 40.5 million shares…

Technical Commentary:

Stock futures moved higher overnight and rallied most of Tuesday pushing the DJIA to a new all-time high.  The broad rally was led by strong stocks like GOOG, PCLN, YHOO and AMZN.  Even AAPL gave boost to Tuesday’s breakout.

QQQ +1.48%, IWM +1.16%, SPY +0.90%, and DIA +0.90% moved higher.  DIA and SPY moved to New High Close and QQQ and IWM broke out of recent consolidations.

AAPL +11.09 lifted XLK and QQQ to breakouts.  FB slipped 20 cents following its confirmed MACD bullish divergence.

The Euro moved up 24 pips and closed at 1.3050 on Tuesday and just above its multi-month 1.30 support area.

Trade what you see on the chart of your position. The trend is in consolidation and traders should lock in profits when targets are reached. As always look for re-entry according to your rules.

The SPY’s trend is broke out today on broad strength.  XLB continues negative; XLE, XLF, XLI are neutral with XLP, XLU, XLV and XLY positive. XLK broke and has shifted from neutral to positive.

CREE gapped up after reporting a new LED light bulb product that will be sold at Home Depot.  The bulbs save 84 percent on energy compared with incandescent bulbs and have a 10-year limited warranty.

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

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Setups

Breakout:  STRZA, TRIP, MON, RF, Z, ANGI, MDRX, TSCO, JPM, CRR, CBOE, MWV, MCHP, ATVI, TW, CLB, CBG

Diagonal Breakout:  MCHP, FAST, P, CSTR, BBRY, GME, SINA,

Bull Flag:  CHKP, MNST,

CLR, STZ, AVP, MJN, PM, JDSU, SPWR, GES, AVX, SPLK

Potential Bullish Divergence:  BBRY, EQIX

Gap Up:

Gap Down:

Bear Flag:  LVS, CTL, RAX, PPO, AVGO, ROST, WDC, STX, DNDN, A, LIFE, GRMN, DDS, MOS, AGU, CORN, DE, CCL, STI, EXPD, WFM

Break of Support:  HSP, OC, PAY

Moves

Highlights: NFLX, NTES, TPX, CREE, SSYS, ANGI, Z

New High:  NWSA, STRZA, ADP, SYMC, GILD, CERN, GOOG, ORLY, BIIB, MAT, PRGO, YHOO, CTRX, ESRX, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, FISV, INTU, QCOM, LBTYA, MDLZ, SIAL, CTSH, VIAB, ADSK

Gap Up:  CREE, ASNA, URI, QCOM, BMC, DE,

Gap Down:  JCP

Breakout:  TXN, ILMN, AIZ, ORLY, TPX, CBS, ICE, VMI, CTXS, SOHU, WHR, ULTA, CPA, AWAY, AMGN, FIVE, HPQ, MBI, LNKD, PBI, YELP, AL, SLM, COG, HES, DECK, CRM,

 

Bounce:  CNW, MTW, SHLD, NTES, EQIX, TEX, IM, FTNT, AOL, KORS, ADM, ZION, PCLN, IBM, PRGO, GNC, ZNGA, NFLX, HLF, BPOP, FAST, PTEN, XRX, FTI, PMCS

MACD Divergence Bounce:  EQIX, FB, CTSH, ORCL, VECO, STX, RCL

Bear Flag:  DDD, NBR, MGM, NDSN, POT, SLB, SWKS, AKAM

Support Break:  IPI, CNX, JRCC, TFM, ACI, ANR, FFIV, WLT, BTU, CLF, INT

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

Leading NDX 100 stocks included:  SHLD, VOD, VRTX, MU, BMC, LIFE, PCAR, STRZA, CERN, KLAC

Lagging NDX stocks included:  ISRG, MNST, DLTR, FB, WYNN, BRCM, FAST, GRMN, EBAY, WFM

Leading stocks> +2% on Tuesday included: CREE, SOHU, TSL, VECO, GRPN, TPX, TSLA, UAL, FAS, DE, CMG, SWKS, NTES

Lagging stocks < -2.0% included:  ZAGG, FAZ, MCP

Stocks to Watch on Wednesday…

Holding Above 30 DMA = 62
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, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, WDC, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, COST, INTC, ORCL, SBUX, SIRI

Moving Above 30 DMA = 14            

BMC, CA, CSCO, EQIX, EXPE, FOSL, KLAC, LIFE, LINTA, MXIM, PCAR, ROST, SPLS, VOD                                                       

Moving Below 30 DMA = 0           

                                                                            

Staying Below 30 DMA

BRCM, XLNX, ISRG, SHLD, EBAY, FFIV, NTAP, XRAY, AVGO, BBBY, GRMN, WYNN,  STX, WFM, EXPD, DTV, NUAN, AKAM, GOLD, CHRW, BIDU, ALXN, FB, AAPL

Ten Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up