Monday, April 8, 2013

Stocks Rise After Unofficial Beginning Of Earnings Season...AA Beats Analyst Estimates...


All nine sectors moved higher on Monday…XLY, XLP and XLF were the strongest sectors …XLV was the weakest sector…. 

Breadth strengthened… advancers led decliners…2.21 to 1 on the NYSE and 1.47 to 1 on the NASDAQ…

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


SPY up 1.05 at 156.21...volume 86.3 million shares…
VIX down .73 at 13.19…
TNX up .38 at 17.32…
TLT down .94 at 121.88…
XLF
up .18 at 18.21 volume 41.8 million shares

AAPL up 3.01 at 426.21…volume 10.7 million shares…
FB down 54 cents at`26.85… volume 27.2 million shares…


Technical Commentary:

IWM +0.83%, SPY +0.68%, QQQ + 0.53%, DIA +0.44%.  Even though SPY volume was lower than average with 86 million, it did bounce ending with a white candle and moving away from its low of Friday. Chart Signals continues to be short-term neutral on the SPY until a break of support or resistance levels of the past three weeks.


AAPL up 3.01 on lower volume of 10.7 million having a small bounce with a potential positive divergence to its previous March 4 low with a possible double bottom forming, closing above the $425 mark with a white candle.  FB was down 54 cents on lower than average volume of 27 million. FB gave a C pattern entry on Thursday last week.  


AMD lead the tech stocks +.30 at +13% with a diagonal breakout and ending the day with a large white candle.

AA reported earnings after the close today which is the unofficial start of earnings seasonAA beat the analyst estimates with its profits rising 59%.

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. 


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Setups

Breakout:  CHRW, MNST, NWSA, SBAC, VIAB, CMG, DLR, SLB

Diagonal Breakout: DE, EXPE, FOSL, SNDK, FCX

Bull Flag:  ADBE, ALXN, AMGN, BMC, MOS, CELG, DLTR, GILD, NUAN, PAYX, PCLN, ROST, SHLD, VRTX, BBRY, HUM, VRSN

Potential Bullish Divergence:  AKS, ANR, CRUS,

Gap Down:  

Bear Flag:

Break of Support: 


Moves

Highlights:

Gap Up:  TSL

Gap Down

Breakout:  CHRW, MNST, NWSA, SBAC, VIAB, CMG, DLR, SLB
 
Bounce:  ADI, ADP, ADSK, AKAM, ALTR, AMAT, AMZN, ATVI, AVGO, BBBY, BRCM, CERN, COST, CTSH, DTV, FAST, FISV, HSIC, KLAC, LINTA, LLTC, MAT, MCHP, MXIM, ORCL, QCOM, SIRI, TXN, VRSX, WYNN, XLNX, XRAY, ATI, BAC, C, CIEN, CRM, DHR, F, FAS, JDSU, JNPR, LVS, RCL, SMH, STI, SWKS, TBT, TPX, UAL, V

MACD Divergence Bounce:  CCL, EXPD

Bear Flag:  

Support Break: 

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 77 of 100 NDX stocks closed higher and two was unchanged… on Monday


Leading NDX 100 stocks included:  MNST, WYNN, VIAB, TXN, NWSA, FAST, BBBY, SPLS, VRSK, LINTA, REGN, SHLD, ATVI, SNDK

Lagging NDX stocks included:  FB, BMC, CTXS, CA, NUAN, GOOG, ALXN, VRTX, MYL, GOLD, INTU, FFIV, MSFT, GILD

Leading stocks> +2% on Monday included: TSL, LVS, CIEN, GMCR, CMG, FAS, LDK, F, UAL, DLR, JDSU, TPX, STI, MCP, BAC

Lagging stocks < -2.0% included:  FAZ, YELP

Stocks to Watch on Tuesday…
Holding Above 30 DMA = 50
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, FB, EQIX

Moving Above 30 DMA = 5
ORLY, SPLS, WYNN, TXN, VRSK                                                                                                                                                                                                                                

Moving Below 30 DMA = 0

Staying Below 30 DMA
CACO, NTAP, PCLN, QCOM, WYNN, ADSK, AVGO, ESRX, GOOG, INTC, INTU, PCAR, TXN, CTRX, GILD, MXIM, XRAY, ALTR, AMAT, AMZN, BRCM, CA, LLTC, MCHP, NVDA, SIAL, WFM, XLNX, ADI, AAPL, LINTA, FAST, 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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