Four of nine sectors moved higher on Tuesday…XLU,
XLE and XLV were the strongest sectors…XLP was the
weakest.
Breadth weakened…as decliners led advancers 1.62 to 1 on the NYSE and 1.58 to 1 on the NASDAQ.
Tuesday – weakened, decliners led
Monday – weakened,
decliners led
Friday – weakened, mixed
Thursday – strengthened,
advancers led
Wednesday – weakened,
mixed
SPY down .10 at 192.80 on 63.5 million shares
VIX up .29 at 11.87…
TNX up .59 at 25.93…
TLT down 1.39 at 111.57...
XLF up .03 at 22.38 on 15.6 million shares
AAPL up 8.89 at 637.54 on 10.4 million shares
FB down .21 at 62.87…on 32 million shares, below average volume
Technical Commentary:
IWM – 0.24%,
DIA – 0.11%, SPY –
0.05%, QQQ – 0.04%.
S&P 500 and DJIA pull
back from yesterday’s record highs closing down moderately.
KKD gaps down at open and
closes down 14.79%.
HSH has been gapping
since May 27th and gapped again today…closing up 9.48%.
MCP breaks support
yesterday and closes down 7.06%.
SWKS posts a record high
today breaking horizontal resistance closing up 5.99%.
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 = 191.49, 192.85,
194.36…
QQQ = 91.36, 93.39…
IWM = 114.55, 115.02…
Support Levels
SPY = 190.42, 188.54,
188.01…
QQQ = 88.61, 87.85,
86.58…
IWM = 113.03, 112.02,
111.04…
Q1 Earnings Reactions
Positive Reactions –
BIG, PANW, GLNG, QIHU, AAPL, ADSK, AET, ALL, ALXN, AMAT, ANGI, ANR, APA, ATVI, BA, BHI,
BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP, CTRX,
CTXS, DAL, DAVE, DDS, DECK, DHI, DNB, DO, DTV,
DV, EA, ENR, ETFC, FCX, FISV, FNMA,
FOXA, GE, GILD, GMCR, GME, GOGO, GRMN, HAL, HAS, HOG, HPQ, HUM, IBKR, INTC, JCP, JNJ, KO, LPNT, LRCX,
LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NTAP,NXPI, PBI, PCLN, POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP, TRV,
TSL, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z
Negative Reactions – SPLK,
ACI, ADM, AEIS, AIG, AKAM, AKS, ALTR, AMGN, AMZN, ARWR, ATI, BAC, BBRY, BIIB, BMY, BRCM, CAR, CBOE, CELG, CHKP, CLF, CLX, COF, CREE, CTSH, DDD, DIS, DISCA, DISH, DKS, DVA, EBAY, ESI, ESRX, EXPE, F, FAST, FEYE, FFIV, FXCM, GOOG, GRPN, IBM, JAZZ, JCI, JDSU, JPM, K, KLAC, KMB,
KRFT, LLTC, LLY, LNKD, LVS, LXK, MCP, MMM, MOS, MTW, MU, MXIM, NKE,NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM,
REGN, SAVE, SEE, SFUN, SIRI, SOHU, SPLS, SSYS, STLD, STT, STX, SUNE, SWI, T, TJX, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA,
Reversal in progress – AEIS, AMGN, BRCM,
CHKP, CTSH, EXPE, FEYE, GRPN, KLAC, KMB, LLTC, LXK, MOS, NUE, PCAR, STLD, WDC, ZION
Reversal of Initial
Reaction – ADM, AIG, AKAM, AKS, ARWR, ATI, BAC, BMY, BRCM, CAR, CELG, COF, DDD, DIS,
DISCA, DVA, ESRX, F, FFIV, IBM, JCI, K, KRFT, LLY, LNKD, LVS, MMM, MU, NKE, NSC,
NUE, NVDA, PG, PRGO, QCOM, SAVE, SIRI, SOHU, STX, SUNE, T, UPS, VIAB, VMW, VZ,
YNDX, YY, ANGI, ANR, BTU, COG, DECK,
ETFC, RF, SCHW, SWK, INTC, YHOO
The SPY Market Forecast green line is in the upper zone at 98.
____________________
Setups
Horizontal Breakout: C,
RCL, STI, UAL, UPL, BAC, SWI, ADSK, AKAM, CELG, TXN,
Diagonal Breakout: HOG,
FSLR, TBT, ZION, DTV, GMCR,
Bull Flag: CREE, IWM,
JASO, LNKD, MS, QIHU, SOHU, SPWR, SUNE, TSL, V, CSIQ, ADBE, AMZN, BIDU, ESRX,
FB, GOOG, GRMN, PCLN,
Potential Bullish
Divergence: ESI,
Gap Up:
Gap Down:
Bear Flag:
At Support: JCP, ANGI,
ETFC, JDSU, NTES,
C- Pattern:
Moves
New Highs: AAL, AIG, DAL,
SWKS, INTC, SNDK,
Gap Up:
Gap Down: ATI, KKD, LVS,
WYNN,
H Breakout: CTRP,
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce: GOGO,
P, VRSN, YELP, YNDX, GILD,
Bounce: GLW, JNPR, SCSS,
TWTR, AAPL,
MACD Divergence Bounce:
Bear Flag:
Support Break: NKE,
TLT, SPLK, MNST,
______________________
44 of 100 NDX stocks closed
higher on Tuesday and two were unchanged.
Leading NDX 100 stocks included: AMAT, BRCM, INTC, AAPL, AKAM, GILD, DLTR,
ADSK, LMCA
Lagging NDX stocks included: WYNN, MNST, NTAP, SPLS, BIDU, EQIX, GOOG, CA,
EXPE, MSFT
Leading stocks > +2% on Tuesday
included: SWKS, UNDX,
JD, TWTR, ESI
Lagging stocks < -2.0% included:
KKD, GTAT, SFUN, SOHU, TSL, CCRM, DD,
QIHU, SPWR, ATI, WLT, SCTY, ETFCM SPLK, LVS
Stocks to Watch on Wednesday
Holding Above 30 DMA= 82
MAR, CHRW,
MDLZ, EXPD, SIAL, MU, SNDK, CHTR, GILD, AAPL, CTXS, DTV, EQIX, ADP, CELG, FISV,
NXPI, AVGO, LBTYA, SBAC, QCOM, DRFT, ATVI, FOXA, CTRX, GMCR, ALXN, SYMC, ILMN,
ADSK, NFLX, CSCO, ADBE, AMAT, FFIV, HSIC, INTU, MSFT, MXIM, TRIP, BIDU, CMCSA,
SIRI, BRCM, GOOG, VIAB, AKAM, AMGN, BIIB, CERN, ESRX, EXPE, LLTC, PCLN,
SBUX,VRTX, FB, DISCA, ALTR, DLTR, NTAP, WYNN, TXN, ADI, REGN, TSLA, AMZN, GRMN,
KLAC, MYL, NVDA, STX, WDC, VIP, INTC, LINTA, COST, ORLY, SRCL, LMCA
Moving Above 30 DMA = 3
CTSH,
PCAR, TSCO
Moving Below 30 DMA = 3
MAT, MNST, PAYX
Staying Below 30 DMA
VRSK,
CHKP, YHOO, DISH, ROST, SPLS, VOD, XLNX, BBBY, EBAY, WFM, CA
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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