In a reversal of Monday’s price
action all nine sectors moved higher on Tuesday…XLF,
XLV and XLB were the strongest
sectors…while XLU was the weakest
sector.
Breadth strengthened
as advancers
led decliners 5.17 to
1 on the NYSE and 4.61 to
1 on the NASDAQ.
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – weakened, mixed
Thursday – strengthened,
advancers led
Wednesday –
strengthened, advancers led
SPY up 2.60 at 187.58 on 165 million shares, above average volume
VIX down 1.90 at 14.10…
TNX up .84 at 26.91…
TLT down 1.64 at 107.39...
XLF up .44 at 21.97 on 49.8 million shares, just above average volume
AAPL up 3.48 at 531.24 on 9.2 million shares, below
average volume
FB up 1.39 at 68.78…on
41.7 million shares, below average volume
Technical
Commentary:
IWM +2.52%,
SPY +1.41%, DIA +1.33%, QQQ +1.27%
SPX, SPY, RUT, IWM reach new all-time high close on
Tuesday…
NDX, QQQ thirteen year new high close…
XLF breaks out of short-term resistance
closes within 17 cents of bull market closing high of 22.14…
Small cap stocks IWM led other market segments by a
large amount indicating that big money is still expecting growth lookinging
forward.
XLB, XLI, XLK, XLV and XLY bounced in their bull flag pattern
and made a new high close, five of nine sectors are strong…XLF and XLE
are at resistance poised to breakout…
Stock markets
rebounded as Russia pulled troops from training exercises near the Ukrainian border. Bonds (TLT), gold (GLD) and oil (USO)
gapped down on falling geopolitical tensions.
Financial
stocks led all sectors and provided the buying pressure to drive the SPX
to a new high for the 49th time in the past year. That is one in every five trading days during
the past year saw a new SPX high.
Be aware that breakout days often retrace the
breakout and strong wide range days are followed by a pullback the S1 level of
the large white breakout candle.
Numerous bull
flags bounced on Tuesday and many of those stocks are now in horizontal
resistance breakout setups. See both the bull flag and horizontal breakout setups
below.
Trade with the trend of the chart
you are trading and continue
to move your protective stops. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 189.25, 190.55…
QQQ = 90.96, 92.25, 93.05…
IWM = 120.64, 121.84…
Support Levels
SPY = 187.15, 183.75, 182.60
QQQ = 88.87, 87.35, 86.49
IWM = 118.71, 115.58
Q4 earnings season…
The majority of earnings
season is done, however there are still a few companies including CSIQ, HOV, CIEN, COST, JOY, QIHU, BIG, and
FL that will report over the next few days…AZO neutral reaction
Q4 Earnings Reactions
Positive Reactions – DRYS,
TSL, DDD, MNST, ROST, YOKU, CRM, SHLD, ANF, TGT, DLTR, LOW, HD, M, SCTY, ZU,
PCLN, DISH, INTU, AEE, MDRX, ALEX, DTV, TSLA, GRMN, SWY, KRFT, AMAT,
CTRP, NVDA, SPWR, TRIP, REGN, CBOE, MCO, ATVI, AKAM, EXPE, GMCR, NXPI,
ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC, KORS, KEYW, IDXX, XYL, YUM,
NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, UA,
VIAB, V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, CAT,
RCL, JNPR, MSFT, KMB, PG, MXIM, SBUX, NFLX, FFIV, URI, UNP, EBAY, MCD,
CREE, TXN, UTX, NUAN, XLNX, BHI, DAL, RF, MS, SLB, STI, AXP, SWKS, BAC, LLTC,
WEN, MON, MU, STZ, APOL
Negative Reactions – MCP,
SSYS, ADSK, CRM, FSLR, SINA, ESRX, GRPN, YNDX, KO, A, GNC, WTW, VFC,
WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI, LNKD, TPX, VRSN, ADP, CTSH, HUM,
MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, DDD, SFLY, GILD, CVX, MA, MAT, PCAR,
AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA, CTXS, EMC, TSCO,
CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, HON, KSU, SWK, STT, ALTR, ISRG,
KLAC, KEY, JCI, LMT, WDC, ABT, BAX, ATI, COH, FCX, AMD, IBM, HAL, JNJ, TRV, VZ,
GE, COF, INTC, UNH, C, GS, CSX, FAST, AA, FDO, BBBY, SCHN (100)
Reversal in progress – FSLR,
RAX, ADSK, WFM, CSX, GS, COF, JNJ, IBM, ATI, JCI, KEY, STX, CRUS (14, 14%)
Reversal of Initial
Reaction – UNH, WDC, DISCA, XOM, CTXS, DDD, SFLY, TPX, VZ, ABT, BAX, AAPL, CL, VRSN,
CSCO, ADP, CTSH, HUM, P, TSO, ADM, CERN, GILD, PCAR, MMM, CELG, HOG, POT, SHW,
EMC, GLW, DD, VMW, YHOO, ZION, HON, SWK, ALTR, ISRG, KLAC, LMT, HAL, FAST, FDO,
AA (45, 45%)
____________________
Setups
H Breakout: AAL, CSIQ, NKE, P, SCSS, MU, NFLX, PCLN,
SNDK, TSLA, WDC, BX, DRYS, FSLR, GLW, JDSU, MFRM, MTW, NKE, RAX, SPWR, STI, SWI,
TSL, V, YELP, ZION, AKAM, AMZN, CMCSA, CTSH, ESRX, FFIV, MNST, MSFT, QCOM, TXN,
VMW
Diagonal Breakout: C, DDD, GRPN, JNPR, TWTR, CELG,
Bull Flag: BBRY, GME, SCTY, GILD, GMCR, ROST,
One Day:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: ANGI,
C- Pattern:
Moves
New Highs: LVS, SOHU, SWKS, DTV, GRMN, WYNN, QIHU,
EBAY, TRIP, XLNX,
Gap Up: QCOM, SPY, IWM, JDSU, NKE, SBUX, TRIP,
TSLA, XLNX,
Gap Down: GLD, TLT,
H Breakout: A, ATI, BAC, S, FAS, IBM, IWM, SPY, MS,
GS, SFUN, STI, VRSN, YHOO
Diagonal Breakout: FSLR,
GOGO,
Breakout Test:
Bull Flag Bounce: AAL, DAL, UAL, CSIQ, NKE, P, SCSS, FB, GOOG,
MU, NFLX, PCLN, SNDK, TRIP, TSLA, WDC, KKD, ADSK, BX, CRM, MTW, RAX, SPLK,
SPWR, SWI, YELP, ADBE, AKAM, CTSH, EBAY, FFIV, MSFT, TXN, VMW
Bounce: RCL, YNDX, CREE, TMUS, TSL, X, YOKU, Z,
ZION, AAPL, AMZN, BIDU, CELG, CMCSA, ESRX, GILD, MNST, STX, WFM,
MACD Divergence Bounce: TBT,
Bear Flag:
Support Break:
______________________
93 out of 100 NDX
stocks closed higher on Tuesday.
Leading NDX 100 stocks included: TRIP, INTU, YHOO,
ADSK, NXPI, ILMN, QCOM, MYL, WFM, PAYX
Lagging NDX stocks included: SYMC, GMCR, ISRG,
NTAP, DLTR, DTV, LBTYA
Leading stocks > +2% on Tuesday
included: TSL, SPWR, CSIQ, QIHU, YNDX, SFUN, FAS, DRYS, GOGO, ATI,
AAL, P, SPLK, YELP, FSLR, KKD, BX, RAX, MFRM, TBT, UNG, MTW, UAL, MS, GRPN,
STI, BAC, CRM, C, IWM, GLW, CREE, XONE, ANGI
Lagging stocks < -2.0% included: MCP
Stocks to Watch on
Wednesday
Holding Above 30 DMA= 77
ILMN,
EQIX, FFIV, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, ALXN, REGN, FB, GMCR,
GOOG, WYNN, ADBE, DISH, ORLY, EBAY, AKAM, AVGO, DTV, PCAR, AMGN, ATVI, CERN,
EXPE, GILD, MNST, MSFT, MYL, NVDA, PCLN, SNDK, TRIP, ADI, MAR, XLNX, AMAT,
CHKP, KLAC, TXN, CTSH, GRMN, HSIC, KRFT, LINTA, LLTC,VIAB, BIDU, FOXA, LMCA,
MDLZ, FISV, LBTYA, DISCA, CTXS, FAST, INTU, VOD, WDC,WFM, BBBY, CA, DLTR, ROST,
SIAL, ADP, COST, TSCO, SPLS, CELG, SBAC, YHOO, AAPL
Moving Above 30 DMA = 9
ADSK, BRCM, ESRX, INTC, PAYX,
QCOM, SIRI, STX, VRTX
Moving Below 30 DMA = 0
Staying Below 30 DMA
CTRX, VRSK, CMCSA, CSCO, SBUX, SRCL, CHTR, NTAP, CHRW, AMZN, SYMC, EXPD,
VIP, MAT
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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