Five of nine sectors
moved higher on Tuesday…XLY, XLE and XLF were the strongest sectors and XLU
was the weakest.
Breadth weakened as advancers led decliners 1.39 to 1 on the NYSE and 1.30 to 1 on the NASDAQ.
Tuesday – weakened, advancers led
Monday – strengthened,
advancers led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
mixed
SPY up .15 at 212.04 on 68 million shares
VIX down .63 at 12.11…
TNX up .49 at 24.09…
TLT down .70 at 115.95…
XLF up .05 at 25.17 on 27 million shares
AAPL down .58 at 127.03 on 30
million shares
FB up 3.14 at 87.88 on 50.2 million shares, 140% above average
volume
Technical Commentary:
IWM + 0.21%, DIA + 0.11%, QQQ + 0.08%, SPY + 0.07%
Leading both the SPX and NDX, FB +3.14, +3.71% hit a new all-time closing high on a
140% above average volume surge. This is the day after an analyst
at Piper Jaffray raised its price target to 120. FB also became the 10th
largest market cap stock in the SP500.
IWM also made a new all-time closing
high on Tuesday.
AMBA +7.94, +8.41% gave a Fib intraday entry today above 99.70 and formed a bullish harami candle pattern and a bull flag price pattern
with a potential entry signal above 104.36 on the daily chart. After a hefty two day pullback several
sources were saying buy.
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 = 212.67, 213.78...
QQQ = 110.81, 111.16…
IWM = 128.99, 131.36…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.94, 122.52...
The SPX Market Forecast is turned up at 70.
___________________
Setups
Horizontal Breakout: QQQ,
SPY, TBT, AIG, BAC, C, ETFC, FAS, GME, JCP, MS, NCLH, SCHW, STI, SWKS, ZION,
Diagonal Breakout: BX,
CTRP, GPRO, JD, SCTY, SOHU, V, YELP, YOKU,
Bull Flag: AMBA, CCL, CIEN, CRM, CYBR, DGLY, FEYE, GOGO,
JUNO, KWEB, NTES, OCN, PANW, QIHU, SEDG, SFUN, SHOP, SINA, SPLK, SPWR, SUM, TASR,
TSL, YY
At Support: SHAK, TLT, X
Moves
New Highs: IWM, ASNA,
GIMO, MBLY, MS, NKE, STI, SUNE, SVXY,TPX,
H Breakout: JCP
MACD Divergence Bounce:
ATI
Gap Down: SONC
______________________
Watch List Stocks
Leading stocks > +2% on Tuesday:
AMBA, NTES, Z, GPRO, ATI, JCP, SUNE, YY, SVXY, CSIQ
Lagging stocks < -2.0% included: SONC, SHOP, SHAK, VXX, W, CYBR
42 of 100
NDX stocks closed higher on Tuesday.
Leading NDX 100 stocks included: FB, TSLA, CTXS, AMZN, VRTX, SYMC, SPLS, ADBE,
ALXN, GMCR
Lagging NDX stocks included: WDC, STX, NVDA, VIP, KLAC, LLTC, TXN, WFM,
AVGO, NXPI
NDX Stocks to Watch on
Wednesday
Moving Above 30 DMA = 5
ATVI, BBBY, DISH, FOXA, SPLS
Moving Below 30 DMA = 4
LLTC, LMCA, NVDA, WFM
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
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