Four of nine sectors
moved higher on Monday…XLE, XLP and
XLU were the strongest sectors…XLK was the weakest sector.
Breadth strengthened…however decliners led advancers 1.96 to 1 on the NYSE and 3.26 to 1 on the NASDAQ.
Monday – mixed, decliners led
Friday – weakened, decliners led
Thursday – strengthened,
advancer led
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners led
SPY down .15 at 198.98 on 76.3 million shares
VIX up .81 at 14.12…
TNX down .23 at 25.91…
TLT up .17 at 113.55...
XLF down .01 at 23.38 on 20.8 million shares
AAPL down .03 at 101.63 on 61.2 million shares
FB down 2.90 at 74.58…on 49.5 million shares, above average volume
Technical Commentary:
DIA +
0.42%, SPY – 0.07%, QQQ – 0.96%, IWM - 1.09%.
Due to the FOMC announcement on Wednesday afternoon,
many commentators are speculating that stocks may drift ahead of the
announcement, just in case the Fed announces an intent to raise rates sooner
than currently expected. Since no one
really knows just trade the charts.
Trade with the trend of
the chart you are trading
and continue to move your profit protection stops. Continue to follow your rules.
Short-term up trend Chart Targets:
SPY = 200.00, 201.37, 204.32...
QQQ = 99.75,
101.13…
IWM = 115.73, 117.06, 118.76...
Support Levels
SPY = 197.59, 196.24,
195.16...
QQQ = 99.08, 97.99,
97.51…
IWM = 115.51, 114.31,
113.49...
Earnings this Week: ADBE,
Q2 Earnings Reactions
Positive Reactions – LULU,
PANW, ULTA, MFRM, SPLK, AVGO, CRM, GPS, TFM, FL, AMAT, CSIQ, GME, HPQ,
PCLN, NTES, ROST, SINA, NVDA, MNST, ANR, FSLR, GTAT, LNKD, SFUN, SSYS, SUNE,
UBNT, YOKU, AKS, AMGN, CHRW, ESRX, HCA, HES, LRCX, TSN, TWTR, WYNN, X,
YNDX, CMG, BIIB, ISRG, SWI,
UA, VRSN, AAPL, APD, CA, CHKP, CMCSA, CTXS, DAL, DECK, DOW, FFIV, FB, FTI, GD,
LXK, LMT, NBR, NDAQ, NOK, OSTK, ORLY, PETS, RHI, STLD, SWK, TSCO, TXN, WHR, XRX, ZION, BX, C, GOOGL, GS, HON,
INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA, STZ, APOL, BKS,
KBH, MON, MU, NKE, SCHN,
More than 10% - ULTA, LULU,
PANW, MFRM, SPLK, TWTR, CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS,
SUNE, UA, VRSN, X
Negative Reactions – KKD, CIEN, BBY,
QIHU, TSL, ADSK, CREE, GOGO,
JASO, JDSU, JWN, M, RAX, YOKU, SCTY, YELP, CTSH, MYL, AEM, AET,
AKAM, BWLD, BZH, CL, CMI, COP, DDD, ESI, GLW, GRMN, HLF, JEC, KRFT, LNG,
MTW, RYL, SLCA, UPL, UPS, VRTX, XOM, ALK, ALXN, AMZN, ANGI, ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC,
FCX, GM, HOG, ILMN, JNPR, KLAC, KMB, KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX,
STI, STO, T, TPX, TRIP, TRV, UTX, V, XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT,
SLB, SNDK, STX, USB, YHOO, FAST, FDO, CAMP, BBBY, GIS,
CCL, WAG,
More than -10% - AMD,
ANGI, BWLD, CAMP, DHI, HLF, MXIM, P, SNDK, XLNX,
Reversal in progress – AET, AKAM, ALXN, AMZN,
ATI, EA, GIS, GRMN, ILMN, KO, KRFT, LNG, P, RYL, STX, TPX, VRTX,
Reversal of Initial
Reaction – KKD, BBY, TSL, BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX,
SLCA, UPL, YELP, YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is at 82.
____________________
Setups
Horizontal Breakout: ZU,
Diagonal Breakout: IBM,
Bull Flag: AA, FAS, FEYE,
GOGO, MFRM, NKE, PANW, RCL, SSYS, SWI, TPX, TWTR, UAL, AVGO, BRCM, COST, CTXS, MSFT,
SNDK,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: BX, SCTY, SFUN, Z, LVS, BIDU, GOOG, TSLA, WFM,
C- Pattern:
Moves
New Highs: MS,
H Breakout: BBRY,
D Breakout:
Bull Flag Bounce:
Gap Up:
Gap Down: CREE, MTW,
Bounce: UPL,
MACD Divergence Bounce:
C- Pattern:
Bear Flag:
Support Break: CRM, CTRP, IWM, SOHU, SUNE, UA, UBNT, VRSN, YELP, YY, GTAT,
JNPR, XONE, ADBE, EXPE, MU, NFLX,
______________________
19 of 100 NDX stocks
closed higher on Monday and one was
unchanged.
Leading NDX 100 stocks included: NTAP, ADP, CHTR, ADSK, PAYX, MDLZ, SIAL
Lagging NDX stocks included: TSLA, MU, ATVI, TRIP, NFLX, FB, STX, BIDU,
VIP, ILMN, GILD
Leading stocks > +2% on Monday
included: BBRY
Lagging stocks < -2.0% included:
SCTY, YY, LNKD, UBNT, BMLY, YELP, JASO,
FEYE, SPLK, SOHU, UNDX, TWTR
Stocks to Watch on Monday
Holding Above 30 DMA= 49
INTC,
SYMC, SBAC, NTAP, COST, BBBY, CERN, AMGN, CTXS, FFIV, ISRG, YHOO, MSFT, ADP,
CTRX, MNST, ROST, CHKP, MAR, PAYX, FISV, SIRI, VRSK, AKAM, AVGO, DISH, KLAC,
LMCA, ALTR, AMAT, BRCM, TXN, FAST, NXPI, SNDK, GMCR, CMCSA, DTV, KRFT, VRTX,
SPLS, CHTR, DLTR, EXPD, QCOM, INTU, AAPL, CSCO, LBTYA
Moving Above 30 DMA =
0
Moving Below 30 DMA = 22
ADBE, AMZN, ATVI, CA,
CELG, EQIX, ESRX, EXPE, FB, FOXA, GILD, ILMN, LINTA, NFLX, NVDA, ORLY, REGN,
STX, TRIP, TSLA, VIP, XLNX
Staying Below 30 DMA
ADSK, ALXN, BIDU, GOOG, LLTC, MU, MXIM, MYL, HSIC, SIAL, WFM, CHRW, EBAY,
SBUX, SRCL, TSCO, DISCA, MAT, ADI, VOD, BIIB, WDC, GRMN, PCLN, PCAR, CTSH,
WYNN, MDLZ, VIAB
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Down
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