All nine sectors moved
higher on Tuesday…XLE, XLV and XLI were the strongest sectors
while XLU was the
weakest.
Breadth strengthened…advancers
led decliners…4.83 to 1 on the NYSE and 3.00 to 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – strengthened,
advancers led
Friday – weakened, mixed
Thursday – strengthened,
advancers led
Wednesday – weakened,
mixed
SPY up 3.77 at 194.07 on 144 million shares
VIX down 2.49 at 16.08…
TNX up .27 at 22.08…
TLT down .97 at 120.54...
XLF up .42 at 22.87 on 50.7 million shares
AAPL up 2.71 at 102.47 on 93 million shares, above average volume
FB up 1.74 at 78.69…on 31.9 million shares, fourth highest close
Technical Commentary:
QQQ +2.63%,
SPY + 1.98%, IWM + 1.65%, DIA + 1.31%.
AAPL +2.71, +2.72% gapped higher following better than expected Q3 results after the
close on Monday. The NDX 100 had 99 stocks gain on Tuesday led
by BRCM, ILMN, AVGO, TXN and YHOO. The S&P
500 had 483 stocks rise led by WAT,
HOG, PSX, CCL, AVGO and TRIP.
Today’s rally was deep and wide and anyone who went short the SPX on
Friday based on market guessers
(“we think”) are down 54 points in the past two days and not only missed
one of the strongest two-day rallies of the year, but lost money instead. Short one ES futures contract would be down
approximately $2,700 over the past two days alone.
Chart Signals really
encourages all readers to, “don’t sell
your hair to a wig shop.”
Stop guessing and trade what you see, not what someone
else imagines they know about the future.
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 Chart Targets:
SPY = 194.27, 197.62...
QQQ = 97.10, 98.76…
IWM = 112.15, 114.51…
Support Levels
SPY = 191.48, 190.45...
QQQ = 95.32, 94.47…
IWM = 109.22, 107.00...
Earnings this week:
Monday: AAPL, CMG, HAL,
HAS, ILMN, IBM, BTU,
STLD, TXN, ZION,
Tuesday: ATI, APOL, EAT, BRCM,
CNI, KO, CREE, ETFC, HOG,
ISRG, KMB, LXK, LMT,
MCD, TRV, UTX, VZ, VMW, YHOO
Wednesday:
T, BA, DOW, EMC, EQIX, GD, LRCX, NXPI, ORLY, SWK, TSCO, WHR, XRX, YELP
Thursday: MMM, ALK, ALXN, ALTR,
AMZN, CAT, CELG, CERN, CHKP, CMCSA, DECK, DNKN, GM, JNPR, KLAC, LLY, MXIM,
MSFT, P, LUV, UA, UNP, UAL, WYNN, YNDX, ZNGA,
Friday: BMY, F, NDAQ, PG, STT, UPS
Q3 Earnings Reactions
Positive Reactions – AAPL,
APOL, HAL, HAS, HOG, ILMN, KMB, LXK, STLD, TRV, TXN, ZION, AMD, C, CSX, DAL, GE,
HON, LVS, MS, SCHW, SLB, STI, URI, XLNX, COST, BBBY, BBRY, MU,
NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,
More than 10% - NKE, ULTA, LULU, PANW,
MFRM,
Negative Reactions – CMG,
EAT, IBM, KP. LMT, BTU, AXP, BAC, COF, EBAY, GOOGL, INTC, JNJ, JPM, KEY,
MAT, NFLX, WFC, AZO, ADBE, KKD, CIEN,
More than -10% -
Reversal in progress – AZO,
Reversal of Initial
Reaction – AXP, KKD, BBRY, MU,
The SPY Market Forecast is at 36.
___________________
Setups
Horizontal Breakout: AA,
BABA, BAC, BBY, C, CTRP, DAL, FEYE, JD, MBLY, PANW, SCHW, SCTY, SPLK, SPWR, SSYS,
TPX, X, YY, Z, AIG, ATI, BX, CIEN, GME, STI, TSL, AAPL, AVGO, COST, GMCR, INTC,
MU, NTAP, QCOM, SNDK, TRIP,
Diagonal Breakout: CRM,
GOGO, MS, SFUN, XONE, ZU, QIHU, BRCM,
Bull Flag: TLT,
Potential Bullish
Divergence:
Gap Up: BRCM, ISRG, YHOO,
Gap Down: CREE,
Moves
New Highs: NKE, NTES,
MNST, ROST,
H Breakout: SPY, IWM,
AAL, HPQ, SUNE, SWKS, UAL, CAR, UBNT, PCLN, XLNX,
D Breakout: AMBA, FAS, GPRO, V,
Bull Flag Bounce:
LVS,
Bounce: EBAY, GMCR,
Gap Up: CSIQ, X, HOG,
AAPL, ILMN, TXN,
Gap Down: IBM, UNG,
______________________
99 out of 100 NDX stocks closed higher
on Tuesday.
Leading NDX 100 stocks included: BRCM, ILMN, AVGO, TXN, YHOO, TRIP, MU, SNDK,
GILD, EXPE, XLNX, EBAY
Lagging NDX stocks included: SBUX
Leading stocks > +2% on Tuesday:
AAL, CSIQ, AMBA, GPRO, X, SUNE, SWKS, FAS, UAL, SPWR, SPLOK, CTRP, AA, DAL,
PANW, RCL, YELP, UA, LNKD, SCTY, BABA, SCHW, YY, HPQ, JDSU, V, SFUN, CMGE,
SSYS, VRSN, TPX, NTES, MS, CRM, BAC, RAX
Lagging stocks < -3.0% included:
ANGI, IBM
Stocks to Watch on Wednesday
Holding Above 30 DMA= 12
SIAL,
GMCR, ROST, CHRW, GRMN, MYL, SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN, BIDU, COST, FB, ORLY, TSCO, VRTX,
XLNX
Moving Above 30 DMA = 10
AAPL, CELG, ESRX, GILD, ILMN, MAR, QCOM, TXN, WFM, WYNN
Moving Below 30 DMA = 0
Staying Below 30 DMA
ADSK, BBBY, YHOO, AMGN, CERN, CTSH, DTV, EBAY, FAST, LBTYA, MSFT, NFLX,
CSCO, EXPE, INTU, MU, SBAC, DISH, FISV, AVGO, ALTR, BRCM, CTXS, INTC, KLAC,
NTAP, NXPI, SNDK, VOD, SPLS, AKAM, BIIB, CHKP, GOOG, CHTR, CMCSA, FFIV, LLTC,
AMAT, CA, EXPD, LMCA, LMCK, MXIM, SYMC, TRIP, VIAB, VRSK, EQIX, MDLZ, NVDA,
SIRI, CTRX, KRFT, ADBE, AMZN, ATVI, FOXA, STX, TSLA, VIP, HSIC, SBUX, DISCA,
MAT, ADI, WDC, PCLN, PCAR
6-month Intermediate
Term Market Trend: Up/Neutral
3-day Short Term Market
Trend: Up
1 comment:
Dave, no spare hair to sell and wouldn't anyway. Thanks for the advice. We know how it ends up!
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