All-time New High Close DJIA, NDX...SPX, RUT Close Near Recent Highs...KMX, CCL, NKE Positive EPS Reactions...

Sector Trend Strength:

Up Trend: XLF, XLI, XLB, XLY, XLE, XLK, XLP, XLRE

Sideways: XLV, XLU

Down Trend:

Breadth strengthened as advancers led 1,941 to 1,076 on the NYSE and led 1,807 to 962 on the NASDAQ.

Tuesday – strengthened, advancers led, +7

Monday – strengthened, advancers led, +7

Friday – weakened, advancers led on NYSE, +5

Thursday – strengthened, advancers led, +8

Wednesday – weakened, decliners led, +0

Oil futures were up .37 to close at 53.51 on Tuesday.  

SPY up .87 at 226.40 on 89.7 million shares, 8% below average volume,

VIX down .26 at 11.45

TLT down .59 at 117.81…on 7.0 million shares, 42% below average volume

Technical Commentary:

IWM +0.85%, DIA +0.41%, SPY +0.39%, QQQ +0.38%,

Broad markets continued to rise on Tuesday with the DJIA and NDX making a new high close and SPX and RUT closing near their recent all-time closing highs.

SPX up 8 points at 2,270

SPX Leaders KMX, TRIP, FCX, SCHW, NVDA, RCL, AA, KSS, ZION, SNI, NUE, M, BIIB, CELG, XLNX, CCL, BLK, LUK, UAL, RF, TSCO, HBAN, FITB, CFG, PNC, YHOO, WHR, ANTM, C, MAT, ALXN, AMP, LOW, NKE, MTB, JWN, EMR, EL

QQQ closed at a new high above resistance for the sixth straight day.

  

NDX point gainers: AMZN, CELG, CMCSA, NVDA, AAPL, INTC, BIIB, TSLA, GOOG, YHOO and PCLN

KMX +3.80, +6.09% on a positive earnings reaction.

CCL +1.17, +2.28% on a positive earnings reaction.

NKE +0.85, +1.64% on a positive earnings reaction, after hours.

GIS -1.61, -2.55% on a negative earnings reaction missed on EPS.

2016 Q4 EPS

EPS Positive Reactions

KMX, CCL, JBL

EPS Negative Reactions

GIS, ADBE

Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Continue to move up stops on short term bullish trades that could pull back.  All according to your profit protection rules.  If you moved stops you may have been stopped out today.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

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: SPY, IWM, FDX, UPS, AAL, ADBE, ADI, ADSK, AMAT, BBBY, CTXS, CHTR, DISCA, EA, EBAY, FAST, GILD, GOOG, MAR, MU, PCAR, ROST, SBUX, STX, WBA, BAC, HIG, ICE, BBY, CC, CE, MGM, PWR, APA, BHI, FTI, HAL, LNG, SOXL,

Bull Flag Bounces include: INTC, NCLH, XLNX, JPM, C, GS, CMA, ETFC, HBAN, MS, RF, SCHW, STI, USB, ZION, AKS, X, STLD, RCL, CCL, GD, BURL, ALK, DAL, LUV, SAVE, SKYW, UAL, FAS

At Support Setups include: DISH, SCHN, ATVI

Support Bounce: NUE, ATI, CSX, PCLN

Horizontal Breakout Setups include: QQQ, DIA, MSFT, INTC, WDC, AAPL, FB, CHKP, LRCX, NFLX, NTAP, TMUS, WFM, JPM, C, CFG, GS, CMA, ETFC, HBAN, KEY, MS, RF, SCHW, STI, TRV, AKS, X, STLD, RCL, CCL, GD, AAP, BURL, DAL, LUV, SAVE, SKYW, UAL, BA, UTX, MMM, CHK, HES,

Horizontal Breakouts include: FISV, AVGO, CMCSA, TSCO, USB, ZION, ALK,

New Highs include: NVDA, ADP, AVGO, CMCSA, COST, PAYX, SQ, MCD, TSLA,

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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 in the upper zone at 91.84 bullish. 

70 of 100 NDX stocks closed higher and two were unchanged on Tuesday.

67 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

CELG, MXIM, PYPL,

Moving Below 30 DMA = 3

FB, GILD, MNST,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up