Oil Down...Stocks Pullback...KORS, MAT, GOOGL Gap Up...RCL, ADT, PBI, HRS GAP Down...

One of nine sectors moved higher on Tuesday…XLU, XLB and XLP were the strongest sectors while XLE was again the weakest sector.  Oil fell 1.78 cents to close at 29.54.

                         

Breadth weakened as decliners led advancers 3.97 to 1 on the NYSE and 3.83 to 1 on the NASDAQ.

Tuesday – weakened, decliners led

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday- strengthened, advancers led

Wednesday – weakened, decliners led

SPY down 3.49 at 190.16 on 182.5 million shares, 19% above average volume

VIX down 2.00 at 21.98…

TNX down 1.02 at 18.64…

TLT up 2.35 at 129.02…on 10.3 million shares, 15% above average volume

XLF down .60 at 21.03…on 69.9 million shares, 22% above average volume

AAPL down 1.95 at 94.48 on 37.3 million shares, 32% below average volume

FB down .48 at 114.61 on 59.7 million shares, 82% above average volume

Technical Commentary:

DIA -1.78%, SPY -1.80%, QQQ -2.16%, IWM –2.16%.

Oil fell again on Tuesday to 29.54 and is down $4.03 from last Friday’s close.

The NDX fell 93 points led by MSFT, AMZN, QCOM, INTC, CMCSA, TXN, GILD, AMGN, TSLA, BIIB, BIDU, AAPL, ESRX, CELG, MDLZ, CTSH, FOXA, COST, ALXN and AVGO.

The SPX is pulling back from a higher high, watch for a potential higher low setup over the next two trading days.

KORS +9.67, +23.91%, gapped up on a positive earnings reaction.

MAT +3.70, +13.83%, gapped up on a positive earnings reaction.

MNK +3.55, +5.71%, gapped up on a positive earnings reaction.

GOOGL +10.14, +1.32%, gapped up on a positive earnings reaction.

RCL -12.82, -15.71%, gapped down on a negative earnings reaction.

ADT -4.63, -15.66%, gapped down on a negative earnings reaction.

PBI -2.70, -13.88%, gapped down on a negative earnings reaction.

HRS -8.48, -9.78%, gapped down on a negative earnings reaction.

YTD:

SPX Leaders:  KORS, M, COG, SWN, COH, MAT, NEM, EQT, Q, ED (113)

SPX Losers: ESV, URI, FCX, CHK, BWA, OI, MRO, ADS, AA, RCL

NDX Leaders:  MAT, FB, VIAB, DLTR, ROST, KHC, DISCK, XLNX, ORLY, PYPL (18)

NDX Losers: INCY, BMRN, ALXN, VRTX, NCLH, TRIP, MU, ADSK, REGN, TSLA

DJI Leaders:  WMT, VZ, MCD, PG, JNJ, NKE

DJI Losers: AXP, BA, CSCO, GS, DD, JPM. INTC, DIS, UTX, CAT

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is flat at 36. 

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Setups

Horizontal Breakout: JNJ, M, LLTC, MNK, URBN, KSS,

Diagonal Breakout: MU, QRVO,

Bull Flag: SPY, DIA, MMM, XLNX, SWN, MXIM, LRCX, MCHP, PG, ADI, CTSH, INTC, NVDA, MSFT, SWKS, GRMN, TXN, FINL, FAST, RTN, SERV,

One Day: QQQ, WMT, FB, ROST, VZ, COH, MCD, SBUX, AVGO, DPS, WYNN, DG, NKE

At Support: AMZN, NFLX, BABA, AKAM, QCOM, MON, MS, NSC

Moves

New Highs: FL,

H Breakout: DLTR, DD

Gap Up: KORS, MAT, GOOGL,

Gap Down: RL, ADT, PBI, HRS

Support Break: CCL, TRIP, SCHW,

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2 of 100 NDX stocks closed higher on Tuesday.

21 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MAT

Moving Below 30 DMA = 14

ADI, AMAT, AVGO, CHTR, CMCSA, DISCA, FAST, FOXA, HSIC, INTU, KLAC, MSFT, SRCL, TXN,

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral