Seven of nine sectors
moved higher on Monday…XLF, XLU and XLV were the strongest sectors and XLB
was the weakest.
Breadth weakened slightly as advancers led decliners
1.38 to 1 on the NYSE and 1.38 to 1 on
the NASDAQ.
Monday – weakened slightly, advancers led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
SPY up .60 at 211.32 on 70.9 million shares
VIX up .15 at 12.85…
TNX up .18 at 21.35…
TLT down 1.17 at 122.83…
XLF up .24 at 24.58 on 22.2 million shares
AAPL down .25 at 128.70 on 50.9 million shares
FB down .18 at 78.81
on 14.6 million shares
Technical Commentary:
QQQ +0.17%,
SPY +0.28%, DIA +0.30%, IWM +0.36%.
Financial stocks, XLF, broke
out of the remarkably tight range of the past four weeks that we pointed out
in Friday’s post. Also pointed out on
Friday, JPM, MS, GS, AIG, ETFC, BAC, C, WFC, ZION and STI all broke
out or bounced today and go
higher.
The SPX/SPY, continued
to bounce in its bull flag pattern today.
We continue to look for a move to new highs potentially as soon as next week.
Semiconductors SOX, did not move higher on
Monday. SOX did pull back and
held above S1 of Friday’s large white candle, which is an
indication of bullish continuation.
We still look for semis to potentially rise this
week and to be a catalyst for the NDX/QQQ to bounce in its current bull flag pattern.
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 = 210.33, 210.70,
211.40...
QQQ = 109.17…
IWM = 123.44, 125.55,
127.13…
Support Levels
SPY = 207.01, 205.39...
QQQ = 105.55, 104.50…
IWM = 120.66...
Earnings Week of April 6 – AA, BBBY, WBA, STZ
Earnings Week of April 13 – JNJ, JPM, FAST, WFC, INTC, BAC, CSX, DAL, LLTC, SNDK, NFLX, GS,
C, AMD, AXP, CE, MAT, NOW
Earnings Week of April 20 – CHKP, HAL, HAS, MS, RCL, STI, IBM, LRCX, ZION, ARMH, ATI,
BHI, DD, HOG, LMT, PCAR, TRV, UA, VZ, AMGN, BRCM, CMG, CREE, ILMN, ISRG, URI,
UTX, YHOO, YUM, ABT, BA, EMC, KO, MCD, CTXS, EBAY, FB, FFIV, ORLY, QCOM, T,
TSCO, TXN, XLNX, ABBV, ALXN, BAX, CAM, CAT, DHR, DOW, DPS, FCX, HP, HSY, LLY, LUV, MMM, MO, NDAQ, PEP, PG, SWK, UNP, ALTR, AMZN, ETFC, GOOGL, HBI, JNPR, KLAC, MSFT, SBUX, SRCL, SWN, AAL, BIIB, STT
Earnings Week of April 27 – AAPL, CHRW, AET, COH, F, GLW, PFE, UPS, VLO, AKAM, ESRX,
VRSK, WDC, WHR, WYNN, GPRO, GRMN,
MDLZ, SLCA, SWI, TPX, X, BIDU, MAR, NXPI, VRTX, CAH, LLL, XOM, YELP, ADP, CELG,
TASR, VIAB, UPL, AIG, CME, EXPE, FEYE, FSLR, LNKD, SWKS, V, GILD, CVX, MCO, WY
Earnings Week of May 4 – CMCSA, CTSH, DO,
HSIC, APC, DVA, EOG, XEC, ADM, CAR, DISCA,
DTV, HCA, ICE, K, NBL, SFUN, ALL, CTRP, DIS, DVN, EA, FISV, FOSL, FTR, 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, JD, LMCA
Q1 Earnings Reaction
Positive Reactions – 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% - GPRO, OCN, MRC, TER, AMZN, MSFT, ATI, HAS, NFLX, CE, DGLY,
CTRP, JUNO,
Negative Reactions – 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% - LNKD, YELP, TWTR, X, WYNN, NOW, AMD, YOKU,
Reversal in progress –
AA, GS,
Reversal of Initial
Reaction – WDC, FCX,
GME, MU, YOKU, XONE
The SPX Market Forecast is pointed up at 75.
___________________
Setups
Horizontal Breakout: AIG,
AMBA, ATI, C, CYBR, FEYE, NKE, SOHU, SVXY, SWKS, EMC, SFUN, EA, MNST, XLNX,
Diagonal Breakout: YOKU
(long term), ZION (long term), LVS, NCLD, AVGO, COST, WBA, WDC, WFM,
Bull Flag: BBRY, GPRO, MBLY, RAX, DTV, MSFT,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag: GLW,
At Support: BABA, CMGE, TLT, XONE, GMCR, YHOO,
C- Pattern:
Moves
New Highs: TASR,
H Breakout: BAC, SCHW,
STI, PCLN,
D Breakout: BBY, FAS,
Breakout Test:
Bull Flag Bounce: IWM,
CIEN, CTRP, GME, JD, PANW, QIHU, VSLR, P, SBUX, TSLA,
Bounce: LC, MFRM, SPWR,
ANGI, ADSK,
MACD Divergence Bounce:
CAR, JDSU, KKD,
Gap Up: SPY, BX, BIDU,
Gap Down:
C- Pattern:
Bear Flag:
Support Break:
______________________
57 of 100
NDX stocks closed higher and one was
unchanged on Monday.
Leading NDX 100 stocks included: CTSH, WYNN, HSIC, CHRW, TSLA, DISCA, CERN,
SPLS, WFM, EXPD
Lagging NDX stocks included: GMCR, VIP, ALTR, SNDK, AVGO, MYL, TRIP, YHOO,
MU, SIRI
Leading stocks > +2% on Monday:
DGLY, YOKU, TASR, LC, SINA, GME, FAS, JD, SCHW, X, BAC, VSLR
Lagging stocks < -2.0% included: CMGE,
CRM
Stocks to Watch on
Tuesday
Holding Above 30 DMA = 55
SIAL, ORLY, VRSK, XLNX, CTRX, MDLZ, VIP, CTXS, TSLA,
MYL, DTV, NFLX, PCLN, SBUX, PCAR, STX, VOD, MAT, AKAM, CSCO, INTC, MU, SYMC,
AMZN, EA, MSFT, BRCM, LRCX, FAST, INTU, NTAP, ADBE, EBAY, LBTYA, NVDA, ALTR,
ESRX, SPLS, WDC, AAPL, ADI, ADP, ATVI,
CMCSA, DISCA, FOXA, GILD, ILMN, KLAC, LLTC, LVNTA, MNST, NXPI, REGN, VRTX
Moving Above 30 DMA = 7
CHTR, CTSH, HSIC, LMCA, PAYX, QCOM, VIAB
Moving Below 30 DMA = 3
GMCR, MAR, SIRI
Staying Below 30 DMA
KRFT, VIP, BIDU, CA, CHKP, GOOG, TSCO, AAL, CERN, CMCSA, FISV, GRMN,
WYNN, ADSK, AMGN,
CELG, SBAC, SPLS, ALXN, BIIB, FB, SRCL, AVGO, ISRG, TXN, YHOO, WBA, DLTR, BBBY, COST, EXPD, ROST, CHRW, SNDK,
TRIP, AMAT, DISH, WFM
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral/Up
