Monday, March 18, 2013

SPY Bounces Above Lower Open...AAPL Surges as Many Bull Flags Appear in Sectors and Stocks


Only one of nine sectors moved higher on Monday…XLK, XLP and XLU were the strongest sectors …XLF was the weakest sector…. 

Breadth weakened…decliners led advancers…1.61 to 1 on the NYSE and 1.89 to 1 on the NASDAQ…

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


SPY down 86 cents at 154.97...volume 126.7 million shares…
VIX up 2.06 at 13.36
TNX down .40 at 19.56…
TLT up 88 cents at 116.64…
XLF
down 18 cents at 18.27 volume 41.2 million shares

AAPL up 12.06 at 455.72…volume 21.6 million shares…
FB down 16 cents at`26.49…volume 26.6 million shares…


Technical Commentary:
The SPY gapped lower on the open and recovered half of its loss.  TNX fell as TLT bonds moved higher.    

QQQ -0.22%, DIA -0.45%, IWM -0.55%, and SPY -0.55% moved lower and formed white candles closing above their opening price. 

AAPL gained 12.06 and closed above its 30 DMA for the first time since Jan 2   FB was down 16 cents and formed a hammer while continuing to form a MACD bullish divergence at support below its 30 DMA.  FB is still a setup for a potential C Pattern Entry after a support bounce

The Euro was down 118 pips and closed at 1.2957 on Monday.  The Euro moved lower over concerns of the impact of a Cyprus bailout plan reached over the weekend and its potential impact on the Euro.

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

The SPY’s trend continued higher.  Eight of nine sector ETFs including XLP, XLU, XLV, XLY, XLK, XLF, XLI, XLE are positive XLB continued neutral.
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The Market Forecast Green Line is in the upper reversal zone. 

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Setups
Breakout:  SLM, AL, ANR, MGM, ICE, FTNT, ADM, FTI, AVX, SPLK, CBOE, CLB, IM, NAV

Diagonal Breakout:  CMCSA, EXPD, FAST, JRCC, DECK, SPWR, HLF, GNC

Bull Flag: AVGO, CTSH, DISCA, DLTR, GILD, GOOG, INTU, LBTYA, MAT, SBUX, STX, TXN, VIAB, VRTX, WDC, YHOO, MBI, CRM, CIEN, JDSU, ZION, ILMN, ZNGA, NTES, DWA, VMW, NFLX, URI, CSTR, IBM, VECO, BBRY, NAV, HRB, PMCS, MON, LNKD, CNP,

Potential Bullish Divergence:  FB, EBAY, GES, ROST, CCL, IPI, SINA, RHT

Bear Flag: TFM, CPRT, MJN, DKS, KORS, JCP, DDS, HSP

Break of Support:  QCOM, FB, EBAY, FB, CCL, WLT, DNDN, HRS, AOL, IPI, SINA, AKAM, RCL 


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

Gap Up:  OGE

Gap DownULTA

Breakout: Z, TPX, COG, TEX, BTU, UNG, MTW, CBS, PTEN, CRR, MDRX, WPO, HES, CNW, SNDK, PBI, PRGO, STRZA, DE, CBG, SHLD, CHK, MWV, MOS, TRIP
 
Bounce:  RAX, ALXN, XRX, A, MSFT, ANGI, BBRY, P, AVP,

MACD Divergence Bounce:  CORN, SLB,

Bear Flag: FL, GRMN, BTU, MCP, AGU, CTL, EXPD

Support Break:  KLAC, DDD, CLF, FFIV

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17 of 100 NDX stocks closed higher on Monday…


Leading NDX 100 stocks included:  ISRG, AAPL, BBBY, DLTR, VOD, PRGO

Lagging NDX stocks included:  FOSL, EXPE, PCLN, CTXS, AVGO, MU, AMAT, ATVI, EQIX, VRTX, CERN, XLNX

Leading stocks> +2% on Monday included: FAZ, ZAGG

Lagging stocks < -2.0% included:  LDK, SLB, VECO, TSL, FAS, YELP, SWI, COH, C, CRUS

Stocks to Watch on Tuesday…
Holding Above 30 DMA = 64
VMED, LLTC, DELL, NWSA, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX,
MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, PCLN, REGN, VIAB, ADSK, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, SHLD, COST, WDC, BRCM, DTV, LIFE, STX, SPLS, CHRW, WYNN

Moving Above 30 DMA = 1
AAPL

Moving Below 30 DMA =9
CTSH, CTXS, EXPE, FOSL, LINTA, MCHP, PCLN, XRAY, ADI                                                 

Staying Below 30 DMA
ALTR, AMAT, COST, LLTC, QCOM, AMZN, SIRI, FAST,CTRX, EQIX, CHKP, MNST, ROST, KLAC, ISRG, EBAY, FFIV, NTAP, GRMN, WFM, EXPD, NUAN, AKAM, GOLD, BIDU, FB

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

1 comment:

Anonymous said...

Hi Dave,
It looks to me that AAPL has a bullish MACD and RSI divergence.You have not said this in your posts so I wonder if I am misreading The MACD and RSI. Would like your thoughts on this. Devoted to your blog. Thank you so much for your selfless hard work for us.
Gina