Six of nine sectors
moved higher on Tuesday…XLI, XLU and XLY were the strongest sectors
while XLV was the
weakest.
Breadth strengthened…
advancers led decliners…1.55 to 1 on the NYSE and 1.64 to 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – strengthened,
decliners led
Friday – strengthened,
decliners led
Thursday – weakened,
decliners led
Wednesday –
strengthened, advancers led
SPY up .29 at 187.70 on 215.7 million shares, double average volume
VIX down -1.85 at 22.79…
TNX down .80 at 22.06…
TLT up .79 at 121.57...
XLF up .09 at 22.47 on 63.4 million shares, above average volume
AAPL down 1.06 at 98.75 on 63.7 million shares
FB up .60 at 73.59…on 50.3 million shares, forms a hammer candle
Technical Commentary:
IWM +1.17%,
SPY +0.15%, DIA +0.06%, QQQ +0.01%.
After the largest three
day selloff since 2011, stocks rallied on Tuesday following earning
announcements from C, JPM, WFC and JNJ before
the open. C +1.57, +3.15% had a positive reaction for the third quarter
in a row. JNJ -2.11, -2.13% had
a negative reaction for the second quarter in a row. WFC -1.37,
-2.73% also traded lower and JPM -0.17, -0.29% ended near unchanged.
INTC +0.67, +2.13% led the Dow
and DAL +1.89, +6.12% led the SPX. AAL +2.93,
+10.25% and UAL +2.62,
+6.46% also gained attributed to dissipating fears that
Ebola virus will reduce air travel.
SWKS +3.59, +7.92% gained after raising Q4 guidance in July to $710 million from $680
million for revenues and earnings to $1.08 per share from $1.00.
Other semiconductor
stocks also gained including NXPI +2.68,
+4.97%, AVGO +2.98, +4.32%
LRCX +1.69, +2.56%, AMAT +0.43, +2.22%, QCOM
+1.15, +1.63% and MU +0.36, +1.33%.
After the close INTC +0.84, +2.61% beat estimates and the CFO indicated they
see no downturn in the chip industry.
LLTC -0.71,
-1.82% after- hours reported earnings
that missed slightly and indicated that it was experiencing typical seasonal
patterns and “overall, we remain optimistic about the increased electronics
content in our end markets, especially automotive and industrial.”
Earnings continue on Wednesday with AXP,
BAC, EBAY, KEY, LVS, NFLX and URI among others. Let the games continue.
Trade with the trend of
the chart you are trading
and continue to move your profit protection stops. Continue to follow your rules.
Earnings this week:
Tuesday: C, CSX, INTC, JNJ, JPM, LLTC, WFC
Wednesday: AXP, BAC, EBAY, KEY, LVS, NFLX, URI
Thursday: AMD, BHI, BX,
COF, DAL, GS, GOOGL, MAT, OSTK, SNDK, SLB, SCHW, XLNX,
Friday: BK, GE, HON,
KSU, MS, STI
Q3 Earnings Reactions
Positive Reactions – C, COST,
BBBY, BBRY, MU, NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,
More than 10% - NKE, ULTA, LULU, PANW,
MFRM,
Negative Reactions – JNJ,
WFC, AZO, ADBE, KKD, CIEN,
More than -10% -
Reversal in progress – AZO,
Reversal of Initial
Reaction – KKD, BBRY, MU,
The SPY Market Forecast is at 11.
___________________
Setups
Horizontal Breakout: ANGI, NTES, RAX, GRMN,
Diagonal Breakout: GPRO,
ZU,
Bull Flag: NKE, COST, GMCR,
MNST,
Potential Bullish
Divergence: JD, SWI, X, YELP, YY, Z, AKAM,
CMCSA, PCLN, TSLA,
Gap Up: INTC, CSX
Gap Down: LLTC,
At Support: BABA, LOCO, TWTR, FB,
C- Pattern: NTES,
Moves
New Highs: TLT, ROST,
Bull Flag Bounce:
ANGI, RAX,
Bounce: AAL, DAL, NTES,
PANW, SWKS, UAL, AVGO,
MACD Divergence Bounce:
C, GOGO, IWM, KKD, LNKD, MFRM, SSYS,
______________________
68 out of 100 NDX stocks closed higher
on Tuesday.
Leading NDX 100 stocks included: NXPI, AVGO, INTC, MU, CHRW, NFLX, GRMN, SNDK,
PCAR, EXPD
Lagging NDX stocks included: ADSK, GILD, EXPE, ALXN, MYL, VRTX, ADBE, DISH,
REGN, CHTR
Leading stocks > +2% on
Tuesday: AAL, SWKS, PANW, DAL, UAL, YELP, REX, SSYS, C, NTES, GOGO, SCTY, ZU,
FAS, RCL, Z, AMBA, CTRP, LNKD
Lagging stocks < -3.0% included:
SFUN, MBLY
Stocks to Watch on Wednesday
Holding Above 30 DMA= 7
COST,
MNST, PAYS, VRTX, SIAL, GMCR, ROST
Moving Above 30 DMA =
1
SRCL
Moving Below 30 DMA = 0
Staying Below 30 DMA
AAPL, ALXN, DLTR, MYL, ADP,
ADSK, BBBY, ISRG, YHOO, AMGN, CELG, CERN, CTSH, DTV, EBAY, FAST, FB, GILD,
LBTYA, MSFT, NFLX, REGN, CSCO,
EXPE, INTU, MU, SBAC, WFM, CHRW, DISH, FISV, AVGO, ALTR, BRCM, CTXS, INTC,
KLAC, NTAP, BIDU,MAR, NXPI,SNDK, TXN, VOD, XLNX, SPLS, AKAM, BIIB, CHKP,GOOG,
QCOM, CHTR, CMCSA, FFIV, LLTC, AMAT, CA, ESRX, EXPD, LMCA, LMCK, MXIM, SYMC,
TRIP, VIAB, VRSK, EQIX, ILMN, MDLZ, NVDA, ORLY, SIRI, CTRX, KRFT, ADBE, AMZN,
ATVI, FOXA, STX, TSLA, VIP, HSIC, SBUX, TSCO, DISCA, MAT, ADI, WDC, GRMN, PCLN,
PCAR, WYNN
5-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Down
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