All nine sectors moved higher again on Tuesday… XLI, XLY and XLV were
the strongest sectors…XLP was the
weakest sector.
Breadth strengthened…
advancers led decliners…2.12 to 1 on the NYSE and
2.30 to 1 on
the NASDAQ…
Tuesday
– strengthened, advancers led
Monday – strengthened,
advancers led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday –
strengthened, decliners led
SPY
up 1.30…volume 114.6 million shares
VIX
down .19 at 16.61…
TNX
up .11 at 21.82…
TLT
up .06 at 113.28...
XLF
up .12 at 19.86…volume 34.2 million shares
AAPL
down .23 at 431.77…volume 6.9 million shares
FB
up .19 at 24.21…volume 36.7 million shares
Technical Commentary:
IWM + 1.18%, DIA + 0.87%, QQQ
+ 0.82%, SPY +
0.79%.
The SPY broke through June 10 horizontal resistance on the lightest trading volume of the past six
trading days indicating that sellers were not interested in trying to
hold resistance the day before the FOMC announcement on Wednesday. The breakout gives the SPY a breakout target
at 169.50 which is in the area of the May 22 resistance high of
169.07.
Look for
increased volatility on Wednesday before and after the FOMC
announcement.
GOOG +1.62% also broke out of short-term resistance towards it recent all-time high of 920.60. TSLA +1.16% closed at 103.39.
WLT +16.50%, 13.63, gained after MS analysts set a $47 price
target. Coal stocks ANR, ACI and JRCC also
gained on Tuesday.
MU led the NDX and closed
up another 3.85% ahead of earnings which
will be Wednesday after the close. Analysts
have recently raised price targets on MU to $18 – 20.
SNDK gained +2.96% closing
at 63.04.
RAX, CLF, CREE, BBRY, FIVE and P also
had strong moves up on Tuesday.
Trade what you see on the chart of your position. The intermediate term trend is up and the short-term trend is up breaking
through short-term resistance. Adjust
stops and trade to targets according to your rules.
Chart Signals Strategy Guidelines
When the market
is trending up Chart Signals looks
for support bounce and resistance breakout entries.
When the market
is trending down Chart signals looks
for resistance pull back and support break entries.
When the market
is sideways in consolidation Chart Signals
will look for support bounce, diagonal breakouts and pull backs
at resistance where price action stays between support and resistance.
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 – ULTA, CIEN, GES, SPLK, PWRD,
HPQ, NTAP, AZO, MDT, CSCO, A, 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 – CPRT, COST,
TSL, CRM, GME, SHLD, 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
The Market Forecast Green Line is
below the Upper Zone closed higher and
is pointed up.
____________________
Setups
H Breakout: DELL, ESRX,
FB, GOOG, GRMN, INTC, MSFT, NVDA, ORCL, PCLN, ROST, WFM, WYNN, YHOO, ALK, CIEN,
CMG, DDD, FIVE, GMCR, GRPN, MFRM, NFLX, PWRD, SINA, SOHU, SPY, TSLA,
Diagonal Breakout: AAPL, ADBE, ADSK, AKAM, AMGN, BRCM, CELG,
CMCSA, SIRI, TXN, XLNX, BBRY, C, CLF, F, FAS, GLW, NTES, SWI, TPX, UAL, ZION,
Bull Flag: BIDU, ESI,
GME, VECO,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
Moves
New Highs: AMAT, AMZN,
BBBY, CSCO, MU, MYL, NTAP, SBUX, SNDK, STX, WDC, CREE, SCSS,
Gap Up:
Gap Down: GLD,
H&D Breakout: DTV, EBAY, FFIV, MAT, NUAN, QCOM, BAC, CRM, SPLK,
Z,
Breakout Test:
Bounce: WLT,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
84 of 100 NDX stocks closed higher on Tuesday…
Leading NDX 100 stocks included: REGN, MU, SNDK, DTV, LMCA, EXPE, AMGN, GRMN,
STX, CELG, ISRG, FFIV, NTAP
Lagging NDX stocks included:
GOLD, CTRX, ATVI, EQIX, ADSK, FAST, NVDA, BIDU, AKAM
Leading stocks > +2% on Tuesday included: CLF, CREE, BBRY, ANR, AKS, ICE, SWKS,
X, TPX
Lagging stocks < -2.0% included: CDE, ESI
Stocks to Watch on Tuesday
Holding Above 30 DMA= 45
MSFT, LIFE, INTC, WFM, WDC, AMAT,
STX, CA, CERN, PCLN, MU, NTAP, SPLS, HSIC, SNDK, AVGO, CSCO, ISRG, AMZN, MNST,
MYL, SBUX, BBBY, CTRX, DELL, EXPE, KLAC, MCHP, ORLY, KRFT, LMCA, CHKP, COST,
DLTR, ESRX, EXPD, GOOG, ORCL, PAYX, PCAR, XLNX, YHOO, ADI, NFLX
Moving Above 30 DMA =15
ADP, CHRW, DTV, FISV, FOSL, GRMN, LINTA, NUAN, ROST, SRCL,
VOD, WYNN, MDLZ, DISCA, VRSK
Moving Below 30 DMA = 2
BIDU, NVDA
Staying Below 30 DMA
GOLD, SIAL, TXN, BIIB, CTSH, INTU,
SIRI, VIAB, LBTYA, REGN, AAPL, ALTR, ADBE, FAST, LLTC, NWSA, AKAM, BMC, FFIV,
XRAY, BRCM, CELF, GILD, ALXN, ATVI, CTXS, EBAY, MAT, CMCSA, SHLD, SBAC, QCOM,
EQIX, ADSK, AMGN, SYMC, MXIM, FB
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
No comments:
Post a Comment