QQQ New High...QCOM Drops on AAPL Suit...AZO, ORLY, AAP Lower...

Sector Trend Strength:

Up Trend: XLB, XLY, XLE, XLK, XLP, XLRE, XLV

Sideways: XLU, XLF, XLI,

Down Trend: XLE

Breadth weakened as advancers led 1,628 to 1,357 on the NYSE and decliners led 1,642 to 1,143 on the NASDAQ.

Monday – weakened, advancers led on the NYSE, +4 sectors

Friday – strengthened, advancers led, +9

Thursday – weakened, decliners led, +1

Wednesday – strengthened, advancers led, +6

Tuesday – weakened, decliners led, +5

Oil futures were down .41 to close at 52.83 on Monday.  

SPY down .59 at 226.15 on 75.0 million shares, 8% below average volume,

VIX up .23 at 11.85

TLT up 1.20 at 121.14…on 13.1 million shares, 38% above average volume

Technical Commentary:

QQQ +0.08%, DIA -0.09%, SPY -0.26%, IWM -0.42%,

QQQ achieved another new all-time closing high on Monday.

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SPX down 6 points at 2,265

SPX  gainers CSX, WAT, GGP, NEM, HUM, ER WYNN, GOOGL, HD, WRK, AA, SWKS, LOW, BMY, DHI, FB, FTR, SLG, HCN, DISCA, QRVO, FCX, ABC, VNO, T, TXN, PPG, AMZN, IP, MHK, ESS, HOG, PSA, BXP, NVDA, STZ, CTL

QQQ makes a new closing high up 10 cents at 123.35.

   

NDX point leaders: GOOG, AMZN, FB, MSFT, CSX, TXN, CSCO, BIDU, NVDA, JD and TSLA

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Earnings this week:

Monday – HAL, MCD, ZION

Tuesday – AA, AKS, ATI, BABA, CA, DD, GLW, ISRG, JNJ, KMB, LMT, STLD, STX, TRV, TXN, VZ,

Earnings Reports

HAL -1.65, -2.92% on a negative earnings reaction.

MCD -0.88, -0.72% on a negative earnings reaction.

2016 Q4 EPS

EPS Positive Reactions

SWKS, KSU, PG, CFG, COL, IBM, CHKP, NFLX, UNP, FAST, WFC, SNX, MSM, CUDA, GPN, MU, CAG, NKE, KMX, CCL, JBL

EPS Negative Reactions

HAL, MCD, GE, NTRS, CSX, C, CMA, MS, UNH, AYI, CMC, STZ, SCHN, RHT, BBBY, FINL, AGN, FDX, GIS, ADBE

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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.

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

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: NFLX, MAR, SQ, FISV, RCL, SBUX, ETFC, ATVI, PCAR, GM, CLF, LNG, MAR, COST,

One Day Pullback: SOXL, BA, HAL, MCD, INTC,

Bull Flag Bounces include: IYR, FB, TLT, AMZN, TXN,

At Support Setups include: IWM, DIA, ADP, DAL, ROST, AAL, HIG, MS, GS, STI, CMA, JPM, ZION, RF, HES, BHI, HBAN, KEY, FAS, PNC, MGM, XLNX, MU, AKS, STLD, X, NUE, LUV, WFC, UPS, USB, EBAY, BAC, UTX,

Support Bounce: STI, MSFT, PWR,

Horizontal Breakout Setups include: ADSK, MSFT, CFG, MT, AMAT, SPY, SCHW, FAST, WDC, ALK, AAPL, PAYX, WFC, MMM, ICE, EA, DISCA, ADI, ATI, GD, INTC, NVDA, TRV, FCAU

Horizontal Breakouts include: GOOG, CF, VALE, TXN, NTES, DE, BABA, PCLN, KLAC,

New Highs include: CSX, TSLA, GOOG, VALE, TXN, NRG, ADBE, CHKP, QQQ, CHTR, LRCX, TMUS, AVGO, CMCSA,

Break of Support: FTI, C, APA,

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The SPY MFC green line is in the upper zone at 84 bullish. 

38 of 100 NDX stocks closed higher and four were unchanged on Monday.

71 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

CSCO, DISCA

Moving Below 30 DMA = 7

AAL, ADI, AKAM, CA, CTSH, ESRX, PCAR

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral