Tuesday, May 7, 2013

Stocks Move Higher...DJIA Closes Above 15,000 For First Time...WFM Up 8.19% In After Hours Trading After Positive Earnings Report...


Eight of nine sectors moved higher on Tuesday…XLU, XLB, and XLI were the strongest sectors…XLK was the weakest sector.

Breadth strengthened…advancers led decliners 3.08 to 1 on the NYSE and 1.54 to 1 on the NASDAQ…

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



SPY up .82 at 162.60volume 90.3 million shares
VIX up .17 at 12.83
TNX up .12 at 17.83
TLT down .47 at 120.16...
XLF up .10 at 19.15volume 39.5 million shares                 

AAPL down 2.05 at 458.66volume 17.2 million shares
FB down .68 at 26.89volume 41.2 million shares


Technical Commentary:

QQQ - 0.06%, SPY + 0.51%, DIA + 0.56% and IWM + 0.82%.

The SPY, DIA, and IWM all advanced on Tuesday with QQQ only slightly lower. 

FOSL gapped up after earnings report and closed up 8.92…up 9.01%.

DTV also gapped up on earnings and closed up 3.99…up 6.88%.

ANF broke through horizontal resistance of both mid-February and mid-April closing
up 3.10 up 6.33%.

AAPL closed down 2.05 and is approaching horizontal resistance of late March and mid-February.

FB closed down 68 cents following a three day pullback and is approaching support level
of late February.

WFM jumped in after hours trading after positive earnings report…up 7.60…8.19%.

The DJIA made a milestone closing for the first time above 15,000 with a gain of 87.31 to close at 15,056.20.

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.


Key Earnings this week:
Monday – DDS, FSLR, LBTYA
Tuesday – DIS, DTV, MDLZ, SYMC, Z
Wednesday – ATVI, CTSH, GRPN, RAX, TSLA
Thursday – XRAY, DISH, PCLN
Friday –


The Market Forecast Green Line is pointed up in the Upper Zone.

____________________

Setups
H Breakout:  GRMN, MU, NTAP, SHLD, FIVE,

Diagonal Breakout: BIDU,

Bull Flag: ADBE, AMAT, COST, ESRX, FB, GILD, MNST, NVDA, XLNX, LVS, UNG, YELP,

Potential Bullish Divergence:

Gap Up: DTV, FOSL

Gap Down:

Bear Flag: 

At Support: AMGN, CSCO, TPX, UNG, FB


Moves
New Highs:  AAPL, BBBY, BRCM, CMCSA, MAT, ROST, STX, SYMC, WDC, WFM, WYNN, YHOO, ALK, C, FAS, RCL, SPLK, SPY, Z, ZION

Gap Up:

Gap Down:

H&D Breakout: FFIV, FIVE, ANF,

Bounce: FAST, LNKD,

MACD Divergence Bounce:

Bear Flag: 

Support Break: 

______________________


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


Leading NDX 100 stocks included:  FOSL, DTV, LBTYA, YHOO, VMED, EXPD, MU, ROST, CHRW, BIDU, MNST, FISV, DLTR, FAST, SRCL

Lagging NDX stocks included:  FB, GILD, ISRG, PRGO, EXPE, CSCO, ADBE, BIIB, DISCA, MSFT, NVDA, CTSH, VRTX

Leading stocks > +2% on Tuesday included: ANF, ZAGG, GES, SWK, LNKD

Lagging stocks < -2.0% included:  TSLA, ANR, LDK, BBRY, CDE, CMG, VECO, MCP, SINA, NFLX

Stocks to Watch on Wednesday
Holding Above 30 DMA= 78
STRZA, ADP, GILD, BIIB, MAT, PAYX, YHOO, SBAC, ADBE, MSFT, SRCL, MDLZ, REGN, VOD, BBBY, LIFE, ROST, MNST, WYNN, DLTR, INTC, DTV, NWSA, SBUX, VRTX, WFM, ATVI, COST, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, TXN, BMC, BRCM, CA, SYMC, ALXN, ESRX, ORLY, PCAR, XLNX, CERN, CMCSA, FB, AAPL, CHRW, 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

Moving Above 30 DMA = 2
FISV, SNDK

Moving Below 30 DMA = 3
ISRG, PRGO, DISCA

Staying Below 30 DMA
AMGN, CSCO, CTRX, GOLD, FAST, NUAN, AMZN, EXPE, MXIM, QCOM, EBAY, AVGO, CTSH, DELL, INTU, CTXS, FFIV

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


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