One of ten sectors moved higher on Tuesday …XLE, XLF and XLP were the strongest
sectors while XLRE was the weakest sector. Oil futures dropped .43 to close at 46.33, its lowest close since Sep. 27.
Breadth weakened as decliners led 2,292 to 744 on the NYSE and led 1,901 to 828
on the NASDAQ.
Tuesday – weakened, decliners led, +1
Monday – strengthened, advancers led on the NYSE, +6
Friday – strengthened, decliners led, +5
Thursday – weakened slightly, decliners led, +2
Wednesday – weakened slightly, advancers led, +4
SPY down
1.54 at 211.01 on 122.7 million shares, 41%
above average volume
VIX up
1.50 at 18.56
TLT down
.24 at 131.01…on 12.6 million shares, 56% above average volume
Technical Commentary:
SPY -0.72%, DIA -0.58%, QQQ -0.75%, IWM –1.22%,
SPX
breaks and closes below 2,120, falls
to 2,097 where buyers rally to 2,111 close
Bearish on the SPX below
2,115
VIX
rises for sixth straight day
IWM fails
to bounce on potential MACD bullish divergence
FOMC announcement Wednesday, expect no change in rates,
volatility typically increases around
announcement at 2 pm ET
Jobs
report Friday
FB reports earnings after the close on Wednesday
SPX Leaders: ADM, AA, MLM, FIS, HRS, WYNN, MOS, TSCO, PDCO, VRTX, ILMN,
NEM, IFF, JCI, COH, VMC, NBL, NAVI, CFG, CELG, PRGO, MYL, AME, VX, MCK and TAP
Earning
winners and losers again indicates institutional money is rotating based on
earnings. Tuesday’s winners included ADM, HRS and MOS.
After-hours Trading
Higher:
Lower:
GILD, HLF, ILMN, PAYC, DATA, CAVM
Earnings Announcements
Monday – CHKP, DO, SCTY, TSO,
Tuesday – ADM, GILD, HRS, HLF, ILMN,
MOS, NFX, NBL, PAYC, DATA, CAVM
Wednesday – BABA, AIG, FB, FSLR,
QCOM, HSIC, SHOP, FOXA, UVE, YELP, RIG
Thursday – DDD, APA, CHTR, CS, FOSL,
LVS, LBTYA, MNST, PRAA, SWKS, SBUX, SLCA, UBNT
Friday – MCHP,
EPS Positive Reactions
ADM,
HRS, MOS, CHKP, TSO, RCL, HBI, SRCL, HSY, EMN, VRSN, UBS,
BIDU, CRUS, EXPE, MO, CVX, FFIV, WDC, COP, DOW, AKAM, JNPR, BA, NCR, OI, FLIR,
ROL, TSS, LMT, KEY, FCX, VLO, BHI, SAVE, AKS, TMUS, MCD, PYPL, MSFT, MXIM, AXP, SNA, MAT, BK, STLD, WBA, ALK, URI,
HAL, MS, USB, NFLX, HOG, UNH, GS, CE, DPZ, CMA, UAL, HAS, DAL, CSX, COST, RHT,
FDX, ADBE
EPS Negative Reactions
DO,
SCTY, AMZN, MCK, ABC, CAH, GT, ABBV, LM,
COG, CA, AMGN, AET, LITE, XOM, CLF, ORLY, NEM, POT, AAPL, EW, CMG, LUV, CMCSA,
UA, P, WHR, PNRA, JBLU, GM, MMM, NLSN, WAT, SHW, MAS, PNR, MCO, EBAY, TRV, LRCX, TSCO, INTC, ISRG, ST, JNJ, IBM, AA, FAST,
ILMN, MU, PAYX, CCL
EPS Neutral Reactions
GOOGL, PSX, SKYW, BX, CA, TWTR, UPS,
TSLA, MO, NXPI, STT, GD, KO, ESRX, VRTX, PCAR, AAL, NUE, XLNX, CTXS, LLTC, BAC, C, JPM, PNC
Consider
moving up stops on short term bullish trades that
could pull back. All according to your profit protection rules.
Remember
breakouts typically test about 70% of the time.
Technical analysis based trades should be closed before earnings. After-hours
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: MSFT, PYPL, MAT, CTXS, TMUS, WDC, VRSN, TXN, MXIM,
NVDA, ULTA, SCHN, ALK, STI, AKS, X, QCOM, NFLX, BAC, C, MS, NTES, SAVE, MDLZ,
SRCL, EXPE, AKAM,
Bull Flag Bounces include:
Horizontal Breakout Setups include: NUE, UAL,
HAS,
RCL, ADSK, AMZN, ZION, AAL, NCLH, TRIP, CAVM, CCL, DO, SOXL, MLM
Horizontal Breakouts include: NEM, MLM,
New Highs include: DAL, CMA, DPZ, CE, GS, USB, HSY, STLD, JPM,
______________________
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
The SPY MFC green line is pointed down at
26, bearish.
19 of 100
NDX stocks closed higher on Tuesday.
34
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
CELG, CTSH, WFM
Moving Below 30 DMA = 10
ADSK, CSX, INTU, LRCX,
LVNTA, MAT, NCLH, NTES, SBAC, TXN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
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