SPX Grinds as Healthcare Lifts NDX..NKE Down 6% After-hours on Revenue Miss...XONE Up 5% on Beat...

Two of nine sectors moved higher on Tuesday…XLV, XLK and XLY were the strongest sectors while XLB was the weakest sector.  Oil futures fell

                         

Breadth weakened as decliners led advancers led 1.12 to 1 on the NYSE and 1.08 to 1 on the NASDAQ.

Tuesday – weakened, decliners led

Monday – weakened, advancers led

Friday – weakened, advancers led

Thursday - strengthened, advancers led

Wednesday – strengthened, advancers led

SPY down.11 at 204.56 on 97.4 million shares, 17% below average volume

VIX up .38 at 14.17…

TNX up .12 at 19.35…

TLT down .03 at 128.04…on 4.9 million shares, 43% below average volume

XLF down .047at 22.62…on 35.3 million shares, 48% below average volume

AAPL up .81 at 106.70 on 32.4 million shares, 12% below average volume

FB up .40 at 112.25 on 18.9 million shares, 39% below average volume

Technical Commentary:

QQQ +0.31%, SPY -0.05%, IWM -0.12%, DIA -0.18%QQQ closed higher, while SPY, IWM and DIA closed slightly lower.  The VIX rose slightly but was the third lowest close in 2016.  

The Healthcare Sector through Mar 17 was the weakest sector this year down -7.96% YTD.  Over the last three days XLV has been the strongest sector gaining +2.41%.  Money has been flowing out of XLU, XLE and XLP over the past three days and has definitely been flowing into XLV.

Today healthcare stocks were nine of the top 10 largest gainers in the NDX.  NDX percentage gainers: ENDP, BMRN, WDC, ALXN, VRTX, CERN, AMGN, REGN, MYL and CELG.

NDX +10.64 on Tuesday was led by point leaders AMZN, AMGN, MSFT, GILD, ALXN, BIIB, FB, AAPL, CLEG, REGN and VRTX.  

The DJIA was led by gains in PFE, UNH and AAPL as 12 of 30 stocks moved higher.

NKE -3.90, -6.01% in after-hours on earnings reaction as revenue misses expectation.

XONE +0.77, +5.96% beats by 8 cents and on revenues

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  FCX, OI, LUK, NCLH, ADBE, VIAB,

CMCSA, EA, EXPE, JD, NTES, DIS, MSFT, MAR, INTC, MNST, ROST, DD, DG, CAVM, DO, FSLR, TRIP, GS, UTX, NFLX, DD

Bull Flag Bounces include: WYNN, NWSA,

Horizontal Breakout Setups include: WDC, SWN, MUR, NWSA, NTAP,

ADSK, EBAY, ULTA, JPM, SCHW, RRC, ATVI, ETFC, FTI, XOM, CAT, CNX, CLF, PG

Horizontal Breakouts include: THC, STX, AMGN, QRVO,

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Short-term Movers:

SPX gainers:  FCX, DVN, CHK, THC, FDX, WYNN, OI, LUK, SWN, HOT, MUR, CBG, NWSA, TXT, WMB, LM, R  9

SPX losers:  RIG, CMG, FOSL, COG, CSRA, HSY, MJN, NOV, POM, CI, 3

NDX gainers:  WDC, CTRP, CHTR, TSLA, STX, NCLH, ADBE, YHOO, MU, NVDA, INCY, PYPL, AMGN, NTAP, NXPI, VIAB 5

NDX losers:  ENDP, BMRN, MYL, EXPE, MDLZ, AMZN 3

YTD:

SPX Leaders:  FCX, NEM, URBN, KORS, WYNN, RRC, SE, EXC, CTL, M (299, 0, > 10p 111)

SPX Losers: WMB, ESV, MPC, RCL, ADS, MCK, CSRA, RIG, HRB, MS

NDX Leaders: FAST, MAT, PCAR, PYPL, CHTR, AMAT, FISV, CA, DISCK, ISRG (49, +1)

NDX Losers:  ENDP, INCY, VRTX, REGN, ALXN, TRIP, ESRX, BMRN, MU, ILMN

DJI Leaders:  VZ, CAT, WMT, MMM, UNH, XOM, IBM, CVX, KO, MCD (18, +1)

DJI Losers: GS, AXP, JPM, DIS, BA, INTC, V, PFE, DD, MSFT

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 pointed up at 98. 

48 of 100 NDX stocks closed higher and one was unchanged on Tuesday.

93 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

BIIB, BMRN, CELG, MYL, VRTX, XLNX

Moving Below 30 DMA = 3

DLTR, ESRX, MDLZ,

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up