Six of nine sectors moved higher on Tuesday…XLB, XLE and XLK were the strongest sectors …XLU was the weakest
sector….
Breadth weakened…however advancers still led decliners…1.39 to 1 on the NYSE and while decliners led
advancers 1.39 to 1 on the NASDAQ…
Tuesday – weakened, mixed
Monday – strengthened, advancers led
Friday – weakened, decliners led
Thursday – strengthened – advancers led
Wednesday – weakened – decliners led
Tuesday – strengthened – decliners led
SPY up .54 at 156.7521...volume 101.8 million shares…
VIX down .35 at 12.84…
TNX up .15 at 17.47…
TNX up .15 at 17.47…
TLT down .30 at 121.58…
XLF up .05 at 18.26 volume 50.6 million shares
XLF up .05 at 18.26 volume 50.6 million shares
AAPL up .77 at 426.98…volume 10.9 million shares…
FB down 26 cents at`26.59… volume 21.2 million
shares…
Technical Commentary:
QQQ +0.67%, DIA +0.38%, SPY
+0.35%, IWM – 0.29%. SPY and DIA moved to horizontal resistance and are setup for a potential
breakout. IWM failed to rally and
closed below its 10 DMA.
Chart Signals continues to be short-term neutral on the SPY until
a break of support or resistance levels of the past three weeks.
FSLR +44.53%, +12.31 moved higher after
announcing raised revenue and earnings guidance. Circuit breakers kicked in five times as
trading was halted five times following the news. Other solar stocks LDK, TSL, CSIQ, SPWR
and JASO also gained between 10 – 23% on Tuesday.
AAPL up 77 cents on 11
million shares continues to hold above a potential double bottom support area.
FB was down 26 cents
on lower than average volume of 21.3 million shares. FB closed
below its 30 DMA in a bull flag pattern.
AA closed unchanged after it reported
earnings after the close Monday. AA
beat the analyst estimates with its profits rising 59%.
Reporting this
week: BBBY, FAST, JPM
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 Market
Forecast Green Line is in the
upper zone.
____________________
Setups
Breakout: WDC, EXPE, FAST, FOSL, KLAC, MNST, ORCL,
SNDK, VIAB, WYNN, YHOO, AMAT, CMG, FCX, SLB, RCL, STI, WSM, SPLK, YELP, DWA, NKE,
DECK
Diagonal Breakout: QCOM, SIRI, TXN, BBRY
Bull Flag: ADSK, DTV,
ALXN, AMGN, BMC, CELG, DLTR, PAYX, VRTX, HUM, VRSN, CMCSA, BIIB, HRB, ALK, UAL,
HSY, TSLA, APOL, DISH, PLCM, MDRX
Potential Bullish
Divergence:
Gap Down:
Bear Flag: DE, LLTC, MXIM, XLNX, XRAY, ATI, BAC, C,
CIEN, CRM, F, JDSU, JNPR, SMH, AKS, ANR, CRUS
Break of Support:
Moves
Breakout: FSLR, TSL,
Bounce: CREE, GILD, NUAN, ADBE, LDK, TSL, SPWR, CSIQ, JASO, CLF, SSYS, MCP,
ANR, X, MOS, ROST, SHLD, CSTR, SPLK, ZION, AWAY
MACD Divergence
Bounce: CCL, EXPD
____________________
63 of 100 NDX stocks
closed higher on Tuesday…
Leading NDX 100 stocks included: MSFT, NUAN,
INTC, GOLD, CHKP, STX, WDC, FOSL, GILD, ORCL, CSCO, MU, MXIM, PCAR, NVDA, CA
Lagging NDX stocks included: DLTR, ORLY, EQIX,
VIAB, SBUX, CTXS, COST, FB, CMCSA, BBBY, LINTA, AMGN, NWSA
Leading stocks> +2% on Tuesday included: LDK, TSL, CLF, SSYS, MCP ANR, X, CDE, FCX, NFLX, CREE, ATI, WDC, SINA,
AKS, JDSU
Lagging stocks < -2.0% included: HLF,
TSLA, ANR, CROX, ZAGG, UAL
Stocks to Watch on Tuesday…
Holding Above 30 DMA = 54
VMED,
NWSA, SNDK, STRZA, ADP, DELL, SYMC, GILD, HSIC, CERN, BIIB, MAT, PAYX, PRGO,
YHOO, DLTR, AMGN, MU, DISCA, SBAC, ADBE, CELG, FISV, MSFT, SRCL, VRTX, MDLZ,
LBTYZ, VIAB, REGN, SBUX, BMC, VOD, ALXN, BBBY, SHLD, DTV, LIFE, STX, COST,
CMCSA, NUAN, ROST, ATVI, CHRW, WDC, EBAY, MNST, SPLS, WYNN, TXN, VRSK
Moving Above 30 DMA = 7
FAST, GOLD, INTC, MXIM, NTAP, NVDA, CTRX
Moving Below 30 DMA =5
DLTR, ORLY SYMC, FB, EQIX
Staying Below 30 DMA
CSCO, PCLN,
QCOM, ADSK, AVGO, ESRX, GOOG, INTU, PCAR, XRAY, ALTR, AMAT, AMZN, BRCM, CA, LLTC,
MCHP, SIAL, WFM, XLNX, ADI, AAPL, LINTA, MYL, ORCL, CTSH, CTXS, EXPE, FOSL,
SIRI, CHKP, KLAC, ISRG, FFIV, GRMN, EXPD, AKAM, BIDU
Twenty Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Neutral
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