Eight of nine sectors
moved lower on Tuesday…XLE, XLI and XLU were the strongest sectors and XLB
was the weakest. Bonds TLT
rose 31 cents.
Breadth strengthened as decliners
led advancers 1.22 to 1 on the NYSE and
weakened 1.30
to 1 on the NASDAQ.
Tuesday – mixed, decliners led
Monday – mixed, mixed
Friday – strengthened,
advancers led
Thursday – strengthened,
advancers led
Wednesday –
strengthened, decliners led
SPY down .62 at 209.98 on 119.7 million shares,
31% above average volume
VIX up .01 at 13.86…
TNX down .14 at 22.60…
TLT up .31 at 119.84…
XLF down .09 at 24.56 on 39.6 million shares, 56% above average volume
AAPL down .46 at 125.60 on 48.1
million shares, 2% above average volume
FB down .55 at 77.46
on 21.2 million shares,
10% below average volume
Technical Commentary:
IWM -0.18%, DIA
-0.20%, SPY -0.30%, QQQ
-0.45%.
Energy stocks rallied on Tuesday led by RIG, NE, ESV, CAM, DO,
EQT, DOG, SWN, XEC, CHK, DVN, RRC, and QEP.
Semiconductor stocks pulled back led by SUNE, MU, NXPI, LRCX, MXIM,
SNDK, FSL, KLAC, ARMH, INTC and TER.
GPRO +0.72, +1.47% rallies day after fund reports reducing position.
Look to strong
trending stocks for bullish trades and sideways trends for premium selling
opportunities as
consolidation continues.
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 = 211.40, 212.48...
QQQ = 109.91, 111.16…
IWM = 123.44, 125.55,
127.13…
Support Levels
SPY = 207.62, 205.39...
QQQ = 107.06, 106.50, 105.55…
IWM = 120.66, 119.47...
Earnings Week of May 4 – CMCSA, CTSH, DO, HSIC, APC, DVA, EOG, XEC, ADM, CAR, DIS, DISCA,
DTV, HCA, ICE, K, NBL, SFUN, ALL, CTRP, DVN, EA, FISV, FOSL, FTR, HLF, LC, NFX,
NWSA, PXD, SCTY, Z, CHK, DDD, EXPD, ATVI, CF, FOXA, GMCR, MET, MRO, PRU, RIG,
TSLA, WFM, APA, BABA, BDX, GOGO, PCLN, REGN, SIAL, SUNE, CA, CBS, CERN, CSIQ,
CYBR, LBTYA, MCHP, MNST, NVDA, SPWR, UBNT, ZNGA, ZU, JD, LMCA, TGI, AOL,
Earnings Week of May 11- CTRP, DGLY, VSLR, JASO, JCP, JUNO, LOCO, MBLY, NTES, RAX,
SINA, YOKU, KNDI, SSYS, VJET, XONE, YY,
Q1 Earnings Reaction
Positive Reactions – MBLY,
SUNE, DATA, CYBR, BABA, CSIQ, ZNGA, JD, MCHP, REGN, SPWR, ATVI, CA, EA,
EXPD, CF, FISV, HLF, LC, PRU, SCTY, TSLA, CTSH, DO, HSIC, ICE, MNK, EL,
OCN, MRC, SWKS, TER, EXPE, TASR, AET, AIG, CME, F, FEYE, GILD, LEG, LYV, MDLZ, NXPI, SLCA, TDS, TPX,
UPL, UPS, VRSK, WY, AMZN, MSFT, JNPR, SBUX, GOOGL, CVX, AAL, CTXS, CAM,
EBAY, FFIV, ORLY, SWK, T, ALTR, BAX, BRCM, DOW, EMC, HP, ILMN, KO, MCD, NDAQ,
YUM, ABT, ATI, LRCX, PCAR, ARMH, AMGN, HAS, CHKP, HAL, MS, STI, NFLX,
CE, MAT, C, DAL, FAST, INTC, JPM, LLTC, STZ, WBA, KMX, DGLY, CTRP,
JUNO, KBH, MFRM, NKE,
More than 10% - DATA, SUNE, ZU, AOL, HLF, TGI, GPRO, OCN, MRC, TER,
AMZN, MSFT, ATI, HAS, NFLX, CE, DGLY, CTRP, JUNO,
Negative Reactions – RAX, YY, KNDI,
ALL, APA, APC, AVP, CAR, CERN, CHK, DISCA, DTV, DVA, DDD, EOG, FOSL, FOXA,
FTR, GMCR, GOGO, HCA, K, LBTYA, MNST, MRO, NBL, NSM, NVDA, NWSA, NFX, PXD, SFUN,
WFM, XEC, Z, ZU,
AAPL, AKAM, ATHN, BIDU, CAH, CELG, CHRW, COH, ESRX, FSLR, GLW, GRMN, LLL,
MAR, PFE, SWI, TWTR, V, VIAB, VLO, WDC, WHR, HBI, BIIB, STT, TXN, XLNX,
MMM, SRCL, SWN, ALXN, CMG, CREE, DHR, FB, FCX, HSY, ISRG, KLAC, PEP, PG, BA,
HOG, TRV, UA, UNP, URI, YHOO, DD, BHI, RCL, AXP, BAC, GS, JNJ, SNDK, AA,
BBBY, MU, GME, YOKU, XONE,
More than -10% - RAX, MNST, FTR, NSM, AVP, LNKD, YELP, TWTR, X, WYNN, NOW, AMD,
YOKU,
Reversal in progress –
AXP, DHR, ESRX, GRMN, GS, PEP, VLO, X, YHOO,
Reversal of Initial
Reaction – AA, AKAM,
BAC, BHI, CELG, DD, FCX, GME, JNJ, KLAC, MU, STT, SWN, URI, V, WDC, YOKU, XLNX,
XONE, ZU
The SPX Market Forecast is pointed up at 64.
___________________
Setups
Horizontal Breakout: IWM,
SPWR, STI, ADBE, EA, GILD, TRIP,
Diagonal Breakout: GPRO,
PANW, SVXY, SWKS, AMZN, AVGO, EBAY, INTC, MSFT, SBUX,
Bull Flag: AA,
AIG, AMBA, BABA, CCL, CRM, MS, NCLH, NKE, SPLK, SUNE, UPL, YELP, BRCM,
Potential Bullish
Divergence: COST
Gap Down: VSLR
At Support: FB, GOOGL, MU, STX, TXN, WDC
Moves
New Highs: TSLA,
H Breakout: RIG, X
Breakout Test: ATI, CSIQ, ETFC, EXPE, SCTY,
Bull Flag Bounce: TASR,
DO,
Bounce: ZION
Gap Down: RAX, YY
______________________
26 of 100
NDX stocks closed higher on Tuesday
and one was unchanged.
Leading NDX 100 stocks included: VIP, DISCA, TSLA, DTV, FAST, NVDA, GILD, CA,
SRCL, YHOO
Lagging NDX stocks included: MU, MAT, MYL, NXPI, LRCX, GRMN, WYNN, SNDK,
AAL, MNST
Leading stocks > +2% on Tuesday:
DGLY, SLCA, UPL, UNG, CTRP
Lagging stocks < -2.0% included: RAX, YY, CYBR, SFUN, JD, SUNE, QIHU, BBRY,
HPQ, SINA
Stocks to Watch on
Tuesday
Holding Above 30 DMA = 44
SIAL, XLNX, CTRX, MDLZ,
CTXS, TSLA, MYL, DTV, NFLX, SBUX, PCAR, STX, VOD, MAT, AKAM, CSCO, INTC ,SYMC,
AMZN, EA, MSFT, BRCM, LRCX, FAST, INTU, ALTR, SPLS, REGN, ATVI, CHKP, EXPD,
ILMN, ADP, EBAY, FISV, NXPI, ORLY, PAYX,
QCOM, VRTX, ADBE, CTSH, GILD, VRSK
Moving Above 30 DMA = 0
Moving Below 30 DMA = 6
AAL, ESRX, GRMN, KLAC,
LVNTA, SNDK
Staying Below 30 DMA
AAPL. AMGN, LLTC, MAR, TRIP, VRTX, WDC, LBTYA, MNST, NVDA, PCLN, MU,
DISCA, ADI, CHTR, CMCSA, ESRX, FOXA, HSIC, LMCA, NTAP, VIAB, GMCR, SIRI, KRFT,
VIP, BIDU, CA, COOG, TSCO, AAL, CERN, GRMN, WYNN, ADSK, CELG, SBAC, ALXN, BIIB,
FB, SRCL, AVGO, ISRG, TXN, YHOO, WBA, DLTR, BBBY, COST, ROST, CHRW, AMAT, DISH,
WFM
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
