Four of nine sectors moved higher on
Monday… XLB, XLK and XLV were the strongest sectors…XLY was the weakest sector.
Breadth strengthened slightly… decliners
led advancers…1.26 to 1 on the NYSE and
1.77 to 1 on
the NASDAQ…where advancers led decliners…
Monday
- mixed
Friday – weakened
slightly, advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – weakened, decliners
led
SPY
unchanged…volume 102.5 million shares
VIX
up .30 at 15.44…
TNX
up .54 at 22.15…
TLT
down .54 at 112.63...
XLF
up .01 at 19.98…volume 65.9 million shares
AAPL
down 2.92 at 438.89…volume 16 million shares
FB
up 1.04 at 24.33…volume 58.3 million shares
Technical Commentary:
IWM + 0.61%, QQQ + 0.04%, SPY
+ 0.00% and DIA
– 0.07%.
The SPY opened slightly higher and traded in a narrow range
on lighter volume before closing unchanged at 164.80. Many
individual stocks including solar stocks FSLR, CSIQ, JASO, SPWR, YGE and TSL
were sizzling hot on Monday. Other stocks
like TSLA, GME, ALXN, BIIB, CELG GILD and STX took a breather and pulled
back or paused like the broad market.
TSLA -1.95% closed at
$100.05 following a Barron’s article highlighting challenges that the Company
faces. It’s great to have an insightful
journalist that discovers that an innovative company actually faces challenges.
No short-sellers behind that novel
observation.
The Euro up 35 pips closed
at 1.3255.
FB +4.46% broke out of diagonal resistance and rallied higher
out of a W pattern base with MACD histogram bullish divergence.
The current market condition is support
bounce entry and trend resumption.
Trade what you see on the chart of your position. The intermediate term trend is up and the short-term trend is again up. Many bull flag entries and diagonal breakout
entries including the broad and sector indexes occurred on Friday. 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.
Setups
H Breakout: ADBE,
AMAT, BBBY, BIDU, PCLN, SNDK, TXN, YHOO, ANGI, CREE, ESI, F, FAS, FSLR, GMCR, NTES,
SCSS, SINA, SOHU, STI, XONE,
Diagonal Breakout: CMCSA,
DTV, EBAY, NFLX, NTAP, NVDA, BBRY, CRM, GLW, LNKD, RCL, UAL,
Bull Flag: CTSH,
DELL, FFIV, GME,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag: CELG,
At Support:
Moves
New Highs: AMZN, MNST,
MU, WDC, CIEN, GS, PWRD, TBT,
Gap Up: FB, SBUX,
Gap Down:
H&D Breakout:
Breakout Test:
Bounce: AAPL, INTC, ORCL,
FIVE,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
41 of 100 NDX stocks closed higher
and one unchanged on Monday…
Leading NDX 100 stocks included: FB, EBAY, EQIX, SNDK, MU, INTC,
SBUX, EXPE, AMZN, TXN, GOOG, WYNN, WFM, MNST, HSIC, PCLN
Lagging NDX stocks included:
CTSH, CTRX, LBTYA, DISCA, ALXN, MXIM, CELG, ADSK, REGN, SHLD, SIRI,
SBAC, LMCA
Leading stocks > +2% on Monday included: LDK, TSL, SSYS, ESI, GRPN, MCP, GMCR,
CRUS, CIEN, ZAGG
Lagging stocks < -2.0% included: CRM
Stocks to Watch on Tuesday
Holding Above 30 DMA= 44
MSFT, LIFE, INTC, WFM, WDC, AMAT,
LMCA, SIAL, STX, CA, ESRX, PCAR, XLNX, CERN,
KLAC, LINTA, CHKP, ADI, PCLN, MU, NTAP, SPLS, BIDU, HSIC, SNDK, AVGO,
CSCO, ISRG, AMZN, GOLD, DELL, MNST, DLTR, DTV, EXPD, FOSL, MYL, NVDA, SBUX,
YHOO, BBBY, GOOG, ORLY, VRTX
Moving Above 30 DMA = 4
ORCL, VOD, WYNN, TXN
Moving Below 30 DMA = 7
BIIB, CTSH, INTU SIRI, VIAB, LBTYA, REGN
Staying Below 30 DMA
COST, AAPL, ALTR, NFLX, ADBE,
FAST, LLTC, MCHP, NWSA, KRFT, ADP, AKAM, BMC, FFIV, PAYX, SRCL, XRAY, DISCA,
BRCM, CELG, GILD, ALXN, ATVI, CTXS, EBAY, GRMN, ROST, FISV, MAT, MDLZ, CHRW,
CMCSA, SHLD, SBAC, QCOM, EQIX, VRSK, ADSK, AMGN, EXPE, SYMC, MXIM, FB, CTRX, NUAN
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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