Monday, April 29, 2013

AAPL Leads Tech Stocks, QQQ Higher...Horizontal Breakout Setup on SPY, QQQ, IWM...


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

Breadth strengthened…advancers led decliners 2.79 to 1 on the NYSE and 2.13 to 1 on the NASDAQ…

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


SPY up 1.06 at 159.30volume 88.5 million shares
VIX up .10 at 13.71
TNX up .05 at 16.68
TLT down .45 at 122.94...
XLF up 8 cents at 18.65volume 29.9 million shares                 

AAPL up 12.92 at 430.12volume 22.8 million shares
FB up 13 cents at 26.98volume 29.2 million shares


Technical Commentary:

QQQ + 0.92%, IWM + 0.72%DIA + 0.67% and SPY + 0.67%,.
The broad indices moved higher on Monday as they continue their earnings season consolidation pausing at resistance.

QQQ, SPY, DIA and IWM have risen to resistance and are poised to breakout

The Euro was up 59 pips and closed at 1.3090.   The Euro started to bounce after holding above support for 12 days.

AAPL moved up 12.91 on 22.9 million shares.  AAPL is moving towards short-term resistance while it continues to form a bear flag pattern with its short term rally.
 
FB gained 13 cents and closed above its 30 DMA on volume of 29.1 million shares.  Friday saw an upgrade to Strong Buy with a price target of $37 from Raymond James.

Trade what you see on the chart of your position.  The intermediate term trend is up with a bull flag setup.  Traders should lock in profits when targets are reachedAs always look for re-entry according to your rules.


Chart Signals Strategy Guidelines
Technical setups for short-term option trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles, strangles, OTM calls or puts.
After earnings look for bullish setups in positive reaction stocks and bearish setups in negative reaction stocks.



EPS Reaction Summary
EPS Gainers – CERN, CVX, DHI, TWC, ANGI, AKAM, ALXN, ALTR, BIIB, COG, CLF, CROX, DOW, ESI, FFIV, HOG, LRCX, LVS, MO, PHM, RCL, SIAL, XLNX, BA, BRCM, GLW, HES, DAL, COH, DD, NFLX, ILMN, VECO, LCC, RF, ZION, TRV, LMT, CAT, CHKP, HAL, HAS, CMG, GOOG, KMB, STI, MSFT, BTU, PEP, UNP, VZ, MAT, AXP, JNJ, INTC, KO, C

EPS Losers – AMZN, BIDU, CRUS, DECK, EXPE, HSY, KLAC, MXIM, QCOM, PTEN, ABC, MMM, AMGN, T, JNPR, PNRA, VMW, GE, IBM, ISRG, MCD, MS, PM, UNH, SNDK, EBAY, BAC, USB, GS, LLTC


Key Earnings this week:
Monday – HLF, RVBD,
Tuesday – DDD, AVP, MTW, X, VRSK, VRTX
Wednesday – AMT, ADM, CAR, CHK, FB, GRMN, ICE, JRCC, JDSU, LVS, MA, MRK, STX, TWX, VIAB, V, WLT, YELP
Thursday – ANR, AIG, BZH, CTRX, GM, LNKD, MDC, MYL, TPX, ZAGG
Friday – ADP, CBOE, REGN, UPL


The Market Forecast Green Line is pointed up today.

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Setups
H Breakout:  SPY, FAS, DAL, DDD, GRPN, LCC, NTES, PHM, PM, SPLK, TPX, VECO, ATVI, C, FAS, GRPN, XLNX, ESRX, TPX, HD, DTV, ADBE, MNST

Diagonal Breakout: AMGN, NTAP

Bull Flag:  ANGI, ESI, BA, C, COST, UNP, LVS, GRMN, MYL, YHOO, STX, KO, PEP, WDC, HSY, WFM, Z, CMG, TRV, VRTX, GILD, CELG, ORCL

Potential Bullish Divergence:

Gap Up:

Gap Down:  RVBD

Bear Flag: AAPL, DELL, SWI, X, GE, SNDK, IBM,

At Support: BIDU, JNPR, VMW,


Moves
New Highs:  AKAM, FSLR, BIIB, INTC, TXN, MSFT, AMAT, COH, DD, GLW, JNJ, NKE, NUAN, NVDA, VZ, WYNN

Gap Up:  LRCX, NFLX, ILMN

Gap Down:  DECK, EXPE, MXIM, QCOM, MMM,

H&D Breakout: TSLA, ROST, ILMN, CMCSA, JCP, LNKD, TPX, SYMC, DTV

Bounce:  RCL, SSYS, UNG, INTC, ABC, BRCM, YELP, DOW, GOOG, FFIV, SBUX, BIDU, CRUS, KLAC, CTSH, FB, CSCO, MU, UNH, GMCR, SNDK, SHLD, GRMN, LCC, PM, AAPL

MACD Divergence Bounce: EXPD, FFIV, ADSK, ESRX, FIVE, FAST, ZION

Bear Flag:  SHLD, EBAY,

Support Break:  AMZN, CTSH, ATI

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65 of 100 NDX stocks closed higher on Monday…


Leading NDX 100 stocks included:  BIIB, AAPL, INTU, MSFT, BRCM, CA, ADSK, FFIV, NUAN, GOOG

Lagging NDX stocks included:  EXPE, SHLD, AMZN, SIRI, AMGN, CELG, CERN, MYL, YHOO, NTAP

Leading stocks > +2% on Monday included: SINA, TSL, TSLA, CRUS, LDK, YELP SWI, SSYS, BBRY, DE, CLF, MOS, SWKS, UCO, UAL AKS, IBM, ESI, ANR

Lagging stocks < -2.0% included:  CSTR, ZAGG

Stocks to Watch on Tuesday
Holding Above 30 DMA = 62
VMED, STRZA, ADP, GILD, BIIB, MAT, PAYX, YHOO, AMGN, SBAC, ADBE, CELG, MSFT, SRCL, MDLZ, LBTYA, REGN, VOD, BBBY, LIFE, NUAN, ROST, MNST, WYNN, CTRX, DLTR, INTC, DTV, FISV, NWSA, SBUX, VRTX, WFM, ATVI, COST, WDC, AKAM, AMAT, GOOG, NTAP, NVDA, SIAL, SIRI, STX, TXN, DISCA, BMC, BRCM, CA, GOLD, GRMN, SYMC, ALXN, ESRX, MYL, ORLY, PCAR, XLNX, PRGO, CERN, CMCSA, FB

Moving Above 30 DMA = 10
AAPL, CHRW, CSCO, FAST, FOSL, KLAC, LINTA, MCHP, XRAY VRSK

Moving Below 30 DMA = 1
SHLD

Staying Below 30 DMA
AMZN, BIDU, EQIX, EXPE, MXIM, PCLN, VIAB, QCOM, HSIC, EBAY, ISRG, SNDK, MU, SPLS, AVGO, CTSH, ADSK, DELL, INTU, ADI, ALTR, LLTC, ORCL, CTXS, CHKP, FFIV, EXPD

Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up

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