All nine sectors moved higher on Monday… XLB, XLI and XLK were
the strongest sectors…XLU was the
weakest sector.
Breadth strengthened…advancers led
decliners…4.00 to 1 on the NYSE and 3.09 to 1 on the NASDAQ…
Monday
– strengthened, advancers led
Friday - mixed
Thursday - mixed
Wednesday – strengthened, advancers led
Tuesday – strengthened, advancers led
SPY
up1.59 at 167.63…volume 87.4 million shares
VIX
down .22 15.63…
TNX
down .41 at 28.97…
TLT
up .05 at 103.10...
XLF
up .23 at 20.03…volume 32.7 million shares
AAPL
up 7.95 at 506.17…volume 12.8 million shares
FB
up .09 at 44.04…volume
75.7 million shares, new high close
Technical Commentary:
IWM
+1.51%, QQQ +1.17%,
SPY +0.96%, DIA +0.93%
IWM
small caps led the broad indexes combined with QQQ breaking out to a new high suggests
this bounce may be just beginning.
Breakout Chart Targets:
QQQ
= 78.70, 79.58
IWM
= 106.10, 107.51
SPY
= 169.93, 171.56
Breakouts or new highs from AKAM, ALTR, CTSH,
EXPD, FB, MU, NUAN, NVDA, QCOM, SHLD, VOD, XRAY, YHOO and strength in
AAPL helped QQQ reach a new high close.
XLB
led all sectors as steel stocks X, AKS, SCHN,
NUE, STLD and ATI made big moves as did coal stocks ANR, ACI,
BTU, CNX, CLF, JRCC, WLT and ETF KOL.
Gains
in growth segments small caps stocks IWM, technology
stocks QQQ and material stocks XLB indicates that institutions see
more economic growth coming. This
was reinforced by defensive sectors XLP, XLV and XLU lagging the
SPY on Monday.
FB
got within 21 cents of its IPO intra-day high of
45 before sellers pushed back. FB
+.09 still managed a new high close at
44.04.
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
= 1,647, 1,629, 1,611
SPY
= 165.15, 163.35, 161.55
Q2 Earnings Reactions
Positive
Reactions – 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: AAPL, AMGN, BIDU, CELG, DELL, EBAY, ESRX, GILD, INTC, NTAP, NUAN,
NVDA, SIRI, TXN, XLNX, YHOO, ANR, BBRY, CLF, CMG, CRM, F, FAS, FIVE, RAX, SINA,
Diagonal
Breakout: MNST, WDC, WFM, BAC, GLW,
Bull
Flag: NFLX, TSLA, DDD, Z,
Potential
Bullish Divergence:
Gap
Up:
Gap
Down:
Bear
Flag:
At
Support: DNKN,
Moves
New
Highs: FB, MU, QCOM, WYNN, CIEN, SPLK,
Gap
Up: AAPL, LVS,
Gap
Down:
H&D
Breakout: AKAM, GOOG, GRPN, SPY, WLT,
Breakout
Test:
Bounce:
MSFT,
MACD
Divergence Bounce:
Bear
Flag:
Support
Break:
______________________
89 of 100 NDX stocks closed higher on Monday and two were unchanged.
Leading NDX 100 stocks
included: SHLD, YHOO, VRTX, REGN, MYL, AKAM, EQIX, GILD, FAST, MU, EXPE,
KRFT, QCOM
Lagging NDX stocks included: TSLA
Leading stocks > +2% on Monday
included: BBRY, AKS, CLF, TSL, GMCR, MOS, ANR,
MCP, UAL, URE, LVS, LDK, X, JDSU, FAS, CREE, GRPN, ATI, HLF, VMW, FC,
Lagging stocks < -2.0% included: FAZ, SOHU, NTES, UCO
Stocks to Watch on Tuesday
Holding Above 30 DMA= 60
TSLA, GRMN, PCLN, FB, VIAB, NFLX, QCOM, AAPL, WYNN,
DELL, GOLD, NVDA, GMCR, ADSK, AMGN, AVGO, CTSH, GILD, SBAC, VOD, NUAN, SHLD,
AKAM, ALTR, BIIB, CELG, EXPD, MU, MXIM, NTAP, ROST, YHOO REGN, VRSK,
FOXA, ADBE, ADP, ALXN, CHRW, DLTR, INTC, INTU, KALC, SNDK, TXN, AMZN, BRCM,
FAST, GOOG, LINTA, SIRI, VRTX, WFM, XRAY, WDC, LMCA, CHTR, EBAY, EXPE, FISV
Moving Above 30 DMA = 12
BIDU,
COST, CTXS, EQIX, FFIV, KRFT, MAT, MYL, PAYX, PCAR, SBUX, STX
Moving Below 30 DMA = 2
CTRX, ESRX
Staying
Below 30 DMA
AMAT, ATVI, LBTYA, SYMC, FOSL, MSFT, CA, CHKP, ISRG,
ORLY, MDLZ, SPLS, SIAL, HSIC, CSCO, LLTC, MCHP SRCL, ADI, BBBY, CMCSA, DISCA,
MNST, CERN, DTV
Thirteen
Week Intermediate Term Market Trend: Neutral
5-Day Short Term Market Trend: Up
No comments:
Post a Comment