Five
of nine sectors moved higher on Monday…XLV, XLE and XLY were the strongest sectors…XLP
was the weakest sector.
Breadth weakened
slightly…however advancers still led decliners…1.08 to 1 on
the NYSE and 1.03 to 1 on
the NASDAQ where decliners led
advancers.
Monday - mixed
Friday – strengthened, advancers
led
Thursday – weakened,
decliners led
Wednesday - mixed
Tuesday – weakened,
decliners led
SPY up .03 at 177.32…volume 66.2 million shares
VIX down .37 at 12.53…
TNX up .05 at 27.51…
TLT down .39 at 103.02...
XLF unchanged at 20.86 volume
23.3 million shares
AAPL down 1.51 at 519.05…volume 8.1 million shares
FB down 1.33 at 46.20…volume 80.7 million shares…
Technical
Commentary:
IWM +
0.14%, DIA + 0.08%, SPY + 0.02%, QQQ - 0.16%.
Trading
volume was light today with many stocks trading below average volume. Even though volume on average was lower than normal
the DOW closed at a record high gaining 21.32
to close at 15,783.10. The SPY
also closed at a record high up only .03 or
0.01% to close at 177.32 on 62.3 million shares.
Also
making new record highs was DDD up 5.70
or 8.10% to close at 76.10 on 9.4 million shares. FSLR gained 4.36% breaking recent
horizontal resistance and was up 2.64
to close at 63.14 on 5.7 million shares.
SSYS also closed with a record high of
127.11 gaining 8.06 up 6.78% on 2.1
million shares.
IWM is near a diagonal breakout and
both DIA and SPY are at horizontal breakouts.
Continue
to trade with trend of the individual stock that you are trading and be
vigilant in protecting profits from the last three weeks. Chart Signals has been alerting
readers to, “Move profit
protection stops according to your rules,” since Monday.
Chart Targets:
QQQ = 83.17…
IWM = 110.96, 112.83…
SPY = 177.85, 180.99…
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 SPY posture is
neutral.
Support Levels
ES = 1,741, 1,726
SPY = 174.44, 172.76
QQQ = 81.87, 80.76,
79.76
IWM = 107.83
Earnings this week: RAX, NTES, SINA, CSCO, NTAP, XONE, YOKU,
Q3 Earnings Reactions
Positive Reactions – SLXP,PCLN,
NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB, MDVN, NATI, SPR, ONNN, EXPE, CRR,
HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT, DICSA, ANR, SWKS, FB, CMCSA, GILD,
DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY, XYL, JLL, PBI, ALR, HUN, ACT, DECK,
AMZN, MSFT, FLS, AVY, ALXN, WOOF, COG, BA, CLGX, ESI, EQIX, WLL, TSCO, RRD,
PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS, GNTX, LXK, DD, VFC, CMG,
GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE, BTU, AXP, KEY, STLD, URI,
USB, INTC, JNJ, SCHW, COST, AA
Negative Reactions – MNST,
QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD, AVP,
WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO,
WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC, AGCO,
PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK, RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO,
SIRI, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT, NFLX, COH,
ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH, EBAY, IBM,
XLNX, SCSS, SWK, MU, FAST
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 above
80.
____________________
Setups
H Breakout: CTSH, ESRX, MU, NVDA,
PCLN, ROST, SHLD, SNDK, DD, ALK, ANR, CRM, ESI, FAS, LCC, PWRD, TSL, WLT, ZION,
Diagonal Breakout: AAPL,
AMAT, AMZN, CELG, GILD, NTAP, WYNN, YHOO, C, F, GLW, GRPN, QIHU, UNG, YOKU,
Bull Flag: MSFT, SPLK, TPX,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: FB, GRMN, SWI,
Moves
New Highs: ADBE, DDD, FSLR,
SSYS,
Gap Up: YHOO,
Gap Down:
H Breakout: ADBE, ADSK, MYL,
YHOO, TIF,
D Breakout: IBM, A,
Breakout Test:
Bounce: BBBY, SIRI, TSLA,
SCTY, SOHU,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
47 out of 100 NDX
stocks closed higher on Monday.
Leading NDX 100 stocks included: SHLD, TSLA, ADBE,
EXPE, PCLN, YHOO, ADSK, MYL, SIRI, ISRG, LINTA, SNDK, AMZN, MNST
Lagging NDX stocks included: KLAC, FB, VIP,
CMCSA, ALTR, REGN, WFM, XLNX, LBTYA, GOLD, CERN, FOXA, ALXN, MDLZ
Leading stocks > +2% on Monday
included: DDD, TSL, SCTY, SSYS, XONE, SOHU, QIHU, FSLR, JCP, YOKU, BX,
FIVE, TIF, SINA
Lagging stocks < -2.0% included: SWI
Stocks to Watch on Tuesday
Holding Above 30 DMA= 46
CTSH, VOD,
ROST, ADBE, SNDK, SBUX, STX, CERN, CMCSA, MSFT, XRAY, AAPL, HSIC, SPLS, FISV,
FOSL, INTC, INTU, KLAC, LINTA, PAYX, SBAC, WDC, CHKP, DTV, VIP, GOOG, ADP,
AMZN, MAT, CA, COST, ADI, LLTC, TXN, MCHP, MU, EXPE, NFLX, ADSK, GOLD, CSCO,
ESRX, LBTYA, ISRG
Moving Above 30 DMA =
Moving Below 30 DMA =
Staying Below 30 DMA
AMAT,
AVGO, BRCM, CHRW, CTRX, DLTR, FOXA, GRMN, KRFT, MDLZ, PCAR, QCOM, SIAL, VIAB,
WFM, WYNN, AMGN, BBBY, BIIB, SHLD, REGN, LMCA, TSLA, VRSK, CHTR, EXPD, FAST,BIDU,
SRCL, YHOO, CELG, VRTX, FB, MXIM, EQIX, AKAM, ORLY, SIRI, FFIV, SYMC, ALTR,
XLNX, EBAY, NTAP, CTXS, GMCR, NUAN
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Neutral
1 comment:
Thanks as always.
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