Seven of nine sectors moved higher on Tuesday and one was unchanged…XLY, XLK and XLI were the strongest sectors…XLU
was the weakest sector.
Breadth strengthened as advancers led decliners 2.54 to 1 on
the NYSE and 3.11
to 1 on the NASDAQ.
Tuesday – weakened slightly, advancers led
Monday – strengthened,
advancers led
Friday – strengthened,
advancers led
Thursday - mixed
Wednesday – weakened,
decliners led
SPY up 1.24 at 188.25 on 89.1 million shares
VIX down .78 at 13.10…
TNX up .36 at 27.59…
TLT down .93 at 107.89...
XLF up .04 at 22.38 on 42.0 million shares
AAPL up 4.91 at 541.65 on 7.2 million shares
FB up 2.38 at 62.62…on 59.2
million shares, average volume
Technical
Commentary:
QQQ +1.76%,
IWM +1.32%, SPY +0.66%, DIA +0.43%.
The QQQ
led the broad indexes on Tuesday as recently lagging stocks including PCLN,
BIDU, FB, NFLX, AMZN and GOOG had above market average moves today as
buyers became more aggressive in bidding these stocks up. The VIX fell to its lowest close since
Jan 22. Interest rates TNX rose
as bonds and gold fell.
The SPY
rose to a new all-time closing high following its MACD bullish divergence
bounce entry on Monday.
The NDX
100 climbed 66.26 points with GOOG, FB, CSCO, AAPL, GILD, MSFT, PCLN,
AMZN, CELG, AMGN, ISRG, QCOM, BIDU, FOXA, EBAY and TSLA contributed 42.8 NDX points.
While many
bounce entries occurred on Monday and Tuesday…continue to look for an
opportunity to enter bounce trades according to your rules.
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 = 187.15, 189.25,
190.55…
QQQ = 89.39, 90.96, 92.25…
IWM = 118.31, 120.25…
Support Levels
SPY = 183.90, 182.60
QQQ = 86.40, 85.88
IWM = 113.69, 111.35
Q4 Earnings Reactions
Positive Reactions – GME, KKD, MFRM,
KKD, BIG, FL, JOY, 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 – GOGO, CIEN,
COST, CSIQ, HOV, 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
(104)
Reversal in progress
–ADSK, A, GS, GOGO, JCI, LNKD, MA, RAX, STX, WFM (10, 10%)
Reversal of Initial
Reaction – AA, AAPL, ABT, ADP, ADM, ALTR, ATI, BAX, BWLD, DISCA, CELG, CERN, CL, COF,
CSCO, CSX, CTSH, CTXS, CRUS, CVX, DD, DDD, EMC, ESRX, FAST, FDO, FSLR, GILD, GLW,
HAL, HOG, HON, HUM, IBM, ISRG, JNJ, KEY, KLAC, KO, LMT, MDC, MMM, P, PCAR, POT,
SFLY, SHW, SINA, SWK, TPX, TSCO, TSO, UNH, VZ,
VFC, VMW, VRSN, WDC, WHR, XOM,
YHOO, ZION (62, 60%)
The Market Forecast green
line is pointed up and is at 66.
____________________
Setups
H Breakout: BX,
HOG, IBM, JNPR, SCSS, X, SCTY, YNDX, CELG, GILD, MNST, MU, TXN, XLNX,
Diagonal Breakout: ESRX,
WYNN,
Bull Flag: SCHW, X, TLT, GRMN, MFRM,
One Day:
Potential Bullish
Divergence: SPWR, CERN, COST,
Gap Up:
Gap Down:
Bear Flag: NKE, TBT, ANGI, P, QIHU, SINA, SOHU, SPLK,
TWTR, VRSN, XONE, CMCSA, EBAY,
At Support: C, PANW, RAX,
UNG,
C- Pattern:
Moves
New Highs: GLW, GMR, RCL, SPY, MSFT, QCOM, SNDK,
STX, WDC,
Gap Up: UAL,
LVS,
Gap Down:
H Breakout: SFUN, CTSH, PCLN,
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce: ATI, BAC, FSLR, IBM, Z, AAPL, XLNX, STI,
SWKS, AAPL,
Bounce: CREE, ETFC, GOGO, IWM, JDSU, TSL, ZION,
FB, GOOG, ROST, TRIP, WFM,
MACD Divergence Bounce: AAL, JNPR, SWI, SOHU, SSYS, YELP, YOKU, ADSK,
AKAM, ALTR, BIDU, CELG, EXPE, FFIV, GILD,
GMCR, ILMN, NTAP, CIEN, CTRP, CRM, CSIQ, YNDX,
Bear Flag:
Support Break:
______________________
93 of 100 NDX stocks
closed higher on
Tuesday.
Leading NDX 100 stocks included: ISRG, TRIP, CELG,
PCLN, ILMN, EXPE, BIDU, NVDA, TSLA, GMCR
Lagging NDX stocks included: CHRW, VRSK, LBTYA,
CMCSA, VOD, MXIM, KRFT
Leading stocks > +2% on Tuesday
included: SFUN, TSL, UAL, Z, GOGO, SPLK,P, SSYS, SSYS, YNDX, YELP,
SCTY, NTES, QIHU, YOKU, CSIQ, CRM, AAL, GMCE, PANW, CIEN, ETFC, RCL, CREE,
JNPR, JDSU, HOG, SWI, ANGI, LVS
Lagging stocks < -2.0% included: MTW, UNG
Stocks to Watch on
Wednesday
Holding Above 30 DMA= 36
AVGO,
PCAR, ATVI, MSFT, MAR, XLNX, AMAT, KLAC, TXN, GRMN, LLTC, KRFT, FAST, MAT, ADI,
BRCM, INTC, QCOM, SNDK, STX, WDC, AAPL, CSCO, NXPI, DISH, MDLZ, PAYX, ROST, BBBY,
MXIM, ALTR, CHKP, CHRW, DTV, HSIC, ISRG
Moving Above 30 DMA = 13
ADP, AMGN, CTSH, DISCA, EXPD, EXPE,
FOXA, LINTA, MU, NVDA, SBUX, SIAL, TSC0
Moving Below 30 DMA = 0
Staying Below 30 DMA
CTXS, INTU, AKAM, EBAY, ESRX, FFIV, FISV, MYL, WFM, VIAB, LMCA, TSLA,
TRIP, ADBE, AMZN, BIIB, DLTR, SYMC, GMCR, ALXN, CERN, YHOO, FB, REGN, GOOG,
PCLN, WYNN, LBTYA, SBAC, COST, BIDU, MNST, ORLY, SRCL, EQIX, NFLX, ILMN, CA,
VRSK, ADSK, VOD, CELG, GILD, SPLS, VRTX, SIRI, CTRX, CMCSA, NTAP, CHTR, VIP
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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