Two of nine sectors moved higher on Monday…XLU,
XLK and XLI were the strongest sectors…XLF
was the weakest sector.
Breadth strengthened…decliners led
advancers…1.35 to 1 on the NYSE and weakened 1.32 to 1 on the NASDAQ.
Monday – mixed, decliners led
Friday – weakened,
decliners led
Thursday – weakened, decliners led
Wednesday – strengthened, advancers
led
Tuesday – mixed,
advancers led
Monday – strengthened,
advancers led
SPY down .79 at 169.93…volume 104.3 million shares
VIX up 1.19 at 14.31…
TNX down .18 at 27.14…
TLT up .76 at 105.69...
XLF down .29 at 20.14…volume 50.5 million shares
AAPL up 23.23 at 490.64…volume 27.1 million shares
FB down .30 at 47.19…volume 75.1 million shares
Technical
Commentary:
DIA – 0.38%, SPY
– 0.46%, QQQ – 0.20%, IWM + 0.01%.
DIA, SPY, and QQQ moved lower today
and are now in a Bull Flag setup including IWM. Many stocks have pulled from their highs
and are likewise in a Bull Flag set up.
XLF gapped down and is…yes…another
Bull Flag setup.
AAPL gapped up today and is approaching
horizontal resistance. AAPL moved
up after its release of encouraging pre-sales data of the IPhone 5. AAPL
closed up 23.23 or 4.97% on 27.2 million shares.
CRUS also gapped up closing in on
horizontal resistance. CRUS
closed up 1.19 or 5.41%.
Breakout Chart Targets:
QQQ = 78.70, 79.58
IWM = 110.91
SPY = 169.93, 171.56
Remember it is big money
that creates and sustains the trend. As Granville once
wrote, “technical analysis is the art of tracking the market, following
the footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are
reading the market correctly, seeing through the maze, unconfused by this hall
of mirrors.”
Short-term market posture
is up.
Support Levels
ES = 1,660
SPY = 167.30
Q2 Earnings Reactions
Positive Reactions –
ULTA, FIVE, CIEN, SPLK, CRM, GES, DSW, ADSK,
ROST, GME, JRCC, RAX, SSYS, TMUS, SGMS, FWLT, MNST, GRPN, TSLA,
AGU, BOFI, FOSL, ADM, MGM, WPO, CNK, KORS, SATS, MGM, EAT, VIAB,
YOKU, AIG, CTRX, CHK, COP, LNKD, MELI, MYL, NUS, ZAGG, CMCSA, CTRP, GRMN, HES,
MA, MCHP, SODA, YELP, QCOR, FISV, BWLD, MTW, VRTX, WYNN, SWK,
SBUX, ALK, AMZN, CELG, CB, CLF, GILD, IP, MXIM, RCL, HSY, UA, UAL, V, FB,
BIDU, TRIP, COG, CTXS, ETFC, FFIV, AKAM, AAPL, EA, VMW, DAL, LCC, EMC, LLY,
MCO, AKS, FCX, BTU, UTX, HAS, TXN, GE, HON, SLB, STI, WHR, CHKP,
CMG, JCI, KEY, MS, OSTK, SWKS, UNP, UNH, BAC, IBM, SNDK, XLNX, CSX, GS, URI,
YHOO, C, WFC
Negative Reactions – P, SHLD, PWRD,
CREE, MCP, GMCR, SCTY, SUNE, Z, CAR, CHRW, FSLR, LINTA, ANR,
CVX, CME, XOM, K, DTV, RVBD, X, COH, DISCA, ESRX, SOHU, DLR, CERN, CRUS,
DECK, DNKN, EXPE, KLAC, POT, PCP, SWI, TPX, EQIX, ABC, CROX, ANGI, ATI,
CAT, WDC, PNRA, STX, NSC, USNA, TRV, MCD, MO, NFLX, ZION, BHI, AMD,
GOOG, ISRG, MSFT, EBAY, INTC, MAT, SCSS, USB, AXP, KO, MOS
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.
The Market Forecast Green Line is pointed up.
____________________
Setups
H Breakout: TLT,
Diagonal Breakout:
Bull Flag: ADSK, AMAT,
AMGN, COST, CSCO, CTSH, FAST, GILD, GOOG, GRMN, INTC, MNST, MSFT, MU, MYL,
NTAP, NVDA, ROST, SBUX, SHLD, SNDK, STX, TXN, WFM, XLNX, ANR, ATI, CIEN, CMG,
CNX, CREE, CRM, DDD, DNKN, ESI, F, FIVE, GLW, GME, GS, JNPR, LVS, P, RAX, RCL,
SOHU, SPY, TPX, UNG, YOKU, Z,
Potential Bullish
Divergence: MFRM,
Gap Up:
Gap Down:
Bear Flag:
At Support: NUAN, JCP, TBT,
XONE,
Moves
New Highs:
Gap Up: AAPL,
Gap Down: SIRI, BAC, C, FAS,
GRPN,
H&D Breakout: ANGI,
Breakout Test:
Bounce:
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
16 of 100 NDX stocks
closed higher on Monday…and two were unchanged.
Leading NDX 100 stocks included: AAPL, BIDU, MXIM,
WFM, AVGO
Lagging NDX stocks included: GMCR, FFIV, NFLX, CTRX, CTXS, BIIB, YHOO,
CELG, GILD, LINTA, SIRI, MNST, GOOG, NUAN
Leading stocks > +2% on Monday
included: CRUS, FAZ, DECK
Lagging stocks < -2.0% included: XONE, YELP, GMCR, GRPN, JCP, SWI, FAS,
C, Z, TPX, CDE, GS, UCO, CREE, VMW, JNPR, TSL, JDSU, ANR, BAC
Stocks to Watch on Tuesday
Holding Above 30 DMA= 87
TSLA,
GRMN, PCLN, VIAB, FB, NFLX, QCOM, WYNN, DELL ,NVDA, ADSK, AMGN, AVGO, CTSH,
GILD, VOD, SBAC, SHLD, AKAM, ALTR, BIIB, CELG, EXPD, MU, MXIM, NTAP, ROST,
YHOO, REGN, VRSK, FOXA, ADBE, ADP, ALXN, CHRW, DLTR, INTC, INTU, KLAC, SNDK,
XLNX, TXN, AMZN, BRCM, FAST, GOOG, LINTA, SIRI, WFM, XRAY, LMCA, EBAY, EXPE,
FISV, CHTR, BIDU, COST, FFIV, MYL, PAYX, PCAR, SBUX, STX, AMAT, CA, CERN, CHKP,
DTV, HSIC, LLTC, MSFT, ORLY, SIAL, ADI, CMCSA, CTXS, MDLZ, LBTYZ, MAT, MCHP,
KRFT, ATVI, BBBY, SRCL, EQIX, DISCA, FOSL
Moving Above 30 DMA = 1
AAPL
Moving Below 30 DMA = 3
CSCO, NUAN, GMCR
Staying Below 30 DMA
GOLD, ESRX, VRTX, WDC,
CTRX, SYMC, ISRG, MNST
Thirteen Week Intermediate
Term Market Trend: Up
5-Day Short Term Market
Trend: Up
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