All nine sectors moved higher on Monday…XLP, XLE and XLV were
the strongest sectors…XLF was the
weakest sector.
Breadth strengthened…
decliners led advancers…1.21 to 1 on the NYSE and
advancers led decliners 1.38 to 1 on
the NASDAQ…
Monday
– strengthened, mixed
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
SPY
up 90 cents at 164.35…volume 168.2 million shares
VIX
down .02 at 16.28…
TNX
down .30 at 21.34…
TLT
up 60 cents at
114.78...
XLF
up 2 cents at 19.86…volume 100.2 million
shares
AAPL
up 98 cents at
450.72…volume 13.3 million shares
FB
down 50 cents at 23.85…volume 35.7 million shares
Technical Commentary:
IWM +0.95%, DIA +0.80%, SPY +0.55%
and QQQ +0.18%,.
The ES futures found support just below its 38.2% Fib retracement level of
1,626.54 on this eighth day of pullback and formed a bullish
harami. Look
for a bounce move on Tuesday.
The SPY also found support just below its 38.2% Fib retracement level of
163.14 and formed a hammer and bullish harami candle. Look for a
bounce move on Tuesday.
XLB and XLE
shifted neutral while XLP, XLV and XLY shifted negative joining
XLP. XLF, XLI and XLK remain
positive. Three sectors positive,
two neutral and four negative. The
current sector structure is now neutral even though the four-week plus
(intermediate) term trend is still up.
Be alert for a potential
support bounce on Tuesday. Many hammer
candles formed on Monday…see Hammers list below for
potential setup ideas.
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. The
current market condition is sideways with a potential support bounce forming.
Trade what you see on the chart of your position. The intermediate term trend is up with short-term trend down in a break of pennant
support. Traders should lock in profits
when targets are reached. Look
for potential entries in both directions 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.
Earnings this Week: CIEN,
EPS Reaction Summary
EPS Gainers – 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 closed
below the Upper Zone and is pointed down.
____________________
Hammers: STI, SPY, IWM, ESRX, COST, DTV, F, GMCR, QQQ,
NTAP, ATI, JCP, WFM, C, XLF, XLB, XLI, XLK, XLP, XLV, XLY, SNDK, FAS, FSLR, SCSS, AKAM, AMZN, EBAY, PCLN, BAC, CREE,
GOOG, SIRI, XLNX, CMG, TPX, GILD, NTES,
Setups
H Breakout: WDC, MU, CSCO,
STI, TBT, PWRD, NTES, SPLK, DDD, FAST,
SNDK,
Diagonal Breakout: IWM,
QQQ, ORCL, GLW, JCP, NTAP, YHOO, BBBY, X, FIVE, NFLX, ANGI, BBRY, FAS, FSLR, SCSS, SCTY, SINA, SOHU, AKAM, AMZN, BIDU,
BRCM, CELG, EBAY, FB, PCLN, YELP
Bull Flag: STX, WFM, ESRX,
F, SPY, GS, GMCR, DTV, COST, TIF, MAT, ATI, WYNN, CNX, GES, BAC, C, CREE, JNPR, TSLA, VECO, ZION, GOOG,
MYL, SIRI, XLNX, GRPN, XONE,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag: SWI, ADBE,
ADSK, TXN,
At Support: EBAY, YELP,
CRM, NUAN, ALK, ANR, CMG, LNKD, RCL, RAX, TLT, TPX, UAL, UNG, WLT, Z, GILD,
GRMN,
Moves
New Highs: MSFT,
INTC,
Gap Up: MRK,
Gap Down: FFIV, P,
BIIB,
H&D Breakout:
MSFT,
Breakout Test:
Bounce: GLD, GME,
LRCX, APA
MACD Divergence Bounce:
Bear Flag: CRM, FB,
Support Break: SSYS,
AMGN, ZNGA,
______________________
57 of 100 NDX stocks closed higher
and one was unchanged on Monday…
Leading NDX 100 stocks included: INTC, GOLD, DLTR, LINTA, STX,
MSFT, ORCL, WYNN, VIAB, AMAT
Lagging NDX stocks included:
FFIV, BIIB, STRZA, GILD, REGN, CTRX, CELG, ALXN, FB, CTXS
Leading stocks > +2% on Monday included: CDE, UCO, TSL, NKE, GLW
Lagging stocks < -2.0% included: GRPN, YELP, TSLA, SSYS, MCP, ESI, CRM,
LDK, BBRY, VMW, RVBD, TPX, VECO
Stocks to Watch on Tuesday
Holding Above 30 DMA= 51
BIIB, YHOO, MSFT, LIFE, INTC, DTV,
SBUX, VRTX, WFM, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, BMC, CA, ESRX,
ORLY, PCAR, XLNX, CERN, AAPL, FOSL, KLAC, LINTA, CHKP, ORCL, EXPD, LLTC, MYL,
PCLN, ADI, MU, NTAP, SPLS, ALTR, BIDU, HSIC, SNDK, AVGO, FFIV, CSCO, FAST,
ISRG, AMZN, CTSH, GOLD, DELL
Moving Above 30 DMA = 10
ADP, COST, DISCA, DLTR, MCHP, NWSA, PAYX, SRCL, WYNN, XRAY
Moving Below 30 DMA = 3
BRCM, CELG, GILD
Staying Below 30 DMA
ALXN, ATVI, BBBY, CTXS, EBAY,
GRMN, REGN, STRZA, TXN, VIAB,LBTYA, ROST, VMED, FISV, MAT, PRGO, MDLZ, CHRW,
CMCSA, MNST, SHLD, SBAC, QCOM, VOD, EQIX, VRSK, ADSK, ADBE, AMGN, EXPE, SYMC,
MXIM, FB, MXIM, CTRX, NUAN, INTC
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend:
Down
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