Eight sectors moved lower
on Monday… XLU, XLF, XLK were the strongest
sectors while XLB was the weakest sector.
Breadth weakened as decliners led advancers 2.08 to 1 on the NYSE and
1.62 to 1 on
the NASDAQ.
Monday – weakened,
decliners led
Friday – weakened
slightly, advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
SPY down .73 at 196.01 on 79.3 million shares, below average volume
VIX up 1.05 at 24.25…
TNX down .03 at 21.80…
TLT up .19 at 121.58…on 4.2 million shares
XLF down .05 at 23.07…on
25.8 million shares
AAPL up 1.10 at 115.51 on 58.2
million shares
FB up .26 at 92.31 on 20.1 million
shares
Technical Commentary:
IWM -0.46%, DIA -0.38%, SPY -0.37%, QQQ
-0.30%.
The SPX sold off 8
points
on Monday following
last week’s 40 point gain. VIX +1.05 closed at 24.25. Bottom line is the SPX, NDX and RUT
continue to trade below their short-term horizontal resistance levels of the
past three weeks. As long as the stay in
the sideways channel, expect VIX to remain elevated. When they break above their resistance levels
is when the VIX will drop off. If
the markets are waiting for the FOMC announcement on Thursday, then the markets
are waiting. Do you want what the
market wants?
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 =...199.13…
QQQ = 105.61, 106.93…
IWM = 115.70, 116.42…
Support Levels
SPY = 194.25, 192.59...
QQQ = 103.59, 100.63…
IWM = 113.66, 111.60...
The SPX Market Forecast is pointed up at 35.
__________________
Setups
Horizontal Breakout: ETSY, EXPE, NCLH, P, SONC, UA, VRSN, ANGI,
CAR, EMC, GIMO, HABT, RAX, AMZN, AVGO, BRCM, ESRX, GILD, INTC, MAR, SBUX, SWKS,
TSLA,
Diagonal Breakout: AIG, AMBA, CCL, CRM, DAL, MS, NKE, PYPL, SCTY,
SINA, SPLK, SUM, V, ZION, FEYE, IBM, JNPR, TAN, CELG, CMCSA, FB, LRCX, SNDK,
Bull Flag: ETFC, NTES, TPX, UBNT, VSLR, XONE,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: KNDI, SPWR,
C- Pattern:
Moves
New Highs: RCL,
H Breakout: UNG, LC, AAPL,
D Breakout: SSYS, YNDX, MYL,
Bull Flag Bounce:
MACD Divergence Bounce:
MBLY, WYNN,
Bounce: AMBA,
Gap Up: SWKS, XLNX,
Gap Down:
C- Pattern:
Bear Flag:
Support Break: FSLR, X, DAVE, SCSS,
______________________
Watch List Stocks
Leading stocks > +2% on Monday: AMBA, MBLY, UNG, SSYS, LC
Lagging stocks < -2.0% included: SUNE, SHAK, FSLR, CTRP, SEDG, CYBR, X,
BABA, SOHU, QIHU, NTES, RUN, KNDI, DAVE, MFRM, YY, HABT, SFUN, VSLR, ATI, GLNG,
AA, SCSS, XONE, DGLY, JASO, DDD, FOGO
34 of 100
NDX stocks closed higher on Monday.
Leading NDX 100 stocks included: ADI, XLNX, NXPI, KLAC, SWKS, TRIP, TSLA, WYNN,
KHC, AAPL
Lagging NDX stocks included: YHOO, GMCR, EBAY, SRCL, TSCO, BIDU, NFLX,
ALXN, DLTR, AMZN
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 6
AAPL, SBUX, SNDK, XLNX, ADI, LRCX
Moving Below 30 DMA = 0
6-month Intermediate
Term Market Trend: Down
3-day Short Term Market
Trend: Neutral
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