Tuesday, May 14, 2013

SPY, IWM, QQQ New High Close...At or Near Targets...Ed Stock ESI, APOL Take Off...MNST Leads NDX as AAPL Cools Off...


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

Breadth strengthened…advancers led decliners 2.04 to 1 on the NYSE and 2.37 to 1 on the NASDAQ…

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


SPY up 1.69 at 165.23volume 118.9 million shares
VIX up .22 at 12.77
TNX up .29 at 19.52
TLT down 1.28 at 116.56...
XLF up .33 at 19.64volume 34.1 million shares                 

AAPL down 10.88 at 443.86volume 15.9 million shares
FB up .25 at 27.07volume 24.9 million shares


Technical Commentary:
IWM + 1.28%, SPY + 1.03%, DIA + 0.84% and QQQ + 0.52%.     

A day when some thought stocks may pull back each of the four broad index ETFs made a new high close.  The financial sector XLF broke out to a new high while the energy sector XLE and basic materials sector XLB had a bull flag bounce.

QQQ reached its S&R measuring price target of 73.46.
IWM reached its 161 Fib breakout target of 97.90.
SPY closed 64 cents below its S&R measuring price target of 165.87.
DIA closed 67 cents below its S&R measuring price target of 152.80.

QQQ was trailed the other ETFs on Tuesday lagging due to weakness in AAPL -10.88 which continues to form a bull flag pattern following its 80 point rise from April 19 to May 7.

ESI, APOL, GRPN, P, TRIP, BBY, LNKD and MNST each had a monster move on Tuesday.  TSLA formed a dark cloud cover after hitting a new high at 97.  TSLA has risen 40 points over the past four trading sessions.

The Euro pulled back to its 1.2900 support area and the dollar rose.  TNX interest rates rose again notwithstanding the strength in the dollar and TLT bonds fell.

It’s time to move stops up to protect profits as traders stay with the trend.

Trade what you see on the chart of your position.  The intermediate term trend is up with a horizontal resistance breakout 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 –  MCP, WCRX, NVDA, PCLN, GMCR, GRPN, TSLA, EA, DVA, WFM, CTSH, DTV, LBTYA, AIG, ADP, CBOE, REGN, FB, BZH, EXPD, GM, MDC, STX, V, YELP, ICE, JRCC, VIAB, CMCSA, DDD, AVP, HLF, 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, APOL

EPS Losers – DISH, XRAY, ATVI, RAX, MNST, Z, LNKD, TPX, ZAGG, CTRX, GRMN, MRK, SWI, 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:



The Market Forecast Green Line is in the Upper Zone.

____________________

Setups
H Breakout: AMAT, ATVI, FAST, GILD, MAT, MSFT, NVDA, SNDK, WDC, XLNX, ANGI, STI, UAL,

Diagonal Breakout: FB, MNST, ATI,

Bull Flag:  AAPL, ADBE, BBBY, BIDU, CTSH, ESRX, FFIV, GRMN, INTC, MU, NTAP, ORCL, ROST, TXN, ALK, CLF, CNX, CREE, GLD, JNPR, TPX, WLT,

Potential Bullish Divergence:

Gap Up:

Gap Down:  XONE

Bear Flag:  

At Support:  NUAN,


Moves
New Highs:  AKAM, CELG, CMCSA, DTV, EBAY, GOOG, PCLN, SBUX, SHLD, WYNN, BAC, C, DDD, FAS, FSLR, GLW, GMCR, LVS, NFLX, P, SPLK, SPY, ZION,

Gap Up:   SSYS,

Gap Down: 

H&D Breakout: COST, QCOM, SIRI, WFM, CMG, CRM, GRPN, NTES, RCL,

Bounce:   ADSK, SYMC, LNKD, UNG, Z,

MACD Divergence Bounce:

Bear Flag: 

Support Break: 

______________________


82 of 100 NDX stocks closed higher on Tuesday…two were unchanged…


Leading NDX 100 stocks included:  MNST, GILD, BIIB, ATVI, MYL, ALXN, CTRX, CHKP, SHLD, EXPE, WDC, MSFT, SPLS, ORLY

Lagging NDX stocks included:  GOLD, AAPL, ESRX, INTC, NTAP, CTSH, BBBY, MXIM

Leading stocks > +2% on Tuesday included: ESI, GRPN, SSYS, LNKD, FAS, CROX, SOHU, HLF, GS, NTES, ZAGG, BAC, C, GES, CRM, ZION, CMG, A, ICE, TBT, NFLX

Lagging stocks < -2.0% included:  TSL, LDK, TSLA, FAZ, BBRY, CLF

Stocks to Watch on Wednesday
Holding Above 30 DMA= 82
ADP, GILD, BIIB, MAT, PAYX, YHOO, SBAC, MSFT, SRCL ,REGN, VOD, BBBY, LIFE, ROST, WYNN, DLTR, INTC, DTV, NWSA, SBUX, VRTX, WFM, COST, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, TXN, BMC, BRCM, CA, ALXN, ESRX, ORLY, PCAR, XLNX, CERN, CMCSA, AAPL, FOSL, KLAC, LINTA, MCHP, XRAY, VRSK, CHKP, ORCL, SHLD, VIAB, EQIX, VMED, LBTYA, CELG, EXPD, GRMN, LLTC, MYL, PCLN, ADI, ADSK, MU, NTAP, SPLS, ALTR, BIDU, HSIC, FISV, SNDK, AVGO, EBAY, FFIV, MXIM, AMZN, ATVI, CSCO, FAST, QCOM, PRGO

Moving Above 30 DMA = 6
AMGN, EXPE, FB, MDLZ, MNST, SYMC

Moving Below 30 DMA = 1
STRZA

Staying Below 30 DMA
GOLD, ISRG, ADBE, CHRW, DISCA, CTRX, NUAN, CTSH, DELL, INTU, CTXS

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

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