AMD and HAS Do the Hustle...FAST and TSLA Speed Higher...SPX Pauses...

Setups to Watch for Tuesday

                   (click image to enlarge)

Technical Commentary

Broad indexes paused on Monday with below average volume in the SPY.  AMD, HAS, NVDA, FAST, TSLA and FB rise.

Up Trend: XLI, XLB, XLY, XLK, XLP

Sideways: XLU, XLF. XLRE, XLV

Down Trend: XLE

Breadth weakened as decliners led 1,845 to 1,169 on the NYSE and led 1,812 to 1,050 on the NASDAQ.

Monday – weakened, decliners led, +3 sectors

Friday – strengthened, advancers led, +9

Thursday – strengthened, advancers led on the NYSE, +4

Wednesday – weakened, decliners led, +4

Tuesday – strengthened, advancers led, +5

QQQ +0.12%, DIA -0.05%, SPY -0.18%, IWM -0.05%,

SPY down 0.41 at 228.93 on 57.7 million shares, 18% below average volume,

VIX up 0.40 at 11.37

TLT up 0.72 at 119.72…on 8.4 million shares, 3% below average volume

Oil futures were down .75 to close at 53.10 on Monday.  

The SPY MFC green line is pointed up at 78 bullish. 

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

SPX and NDX Highlights

SPX down 5 points at 2,292 still a horizontal breakout setup on Monday.

SPX  gainers HAS, TDG, PCLN, REGN, AGN, MTD, NVDA, ISRG, COG, AMP, GWW, OMC, SRCL, BA, GOOGL, NOC, DNB, FAST, MNK, AVB, ALXN, AAPL, NEM, CAH

QQQ closes up 15 cents at 125.83, a new all-time closing high.

   

NDX point leaders: AAPL, FB, NVDA, HAS, TSLA, SBUX, YHOO, BIDU and AAL

46 of 100 NDX stocks closed higher and one was unchanged on Monday.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

ROST

Moving Below 30 DMA = 2

CTAS, SBAC, 

65 NDX stocks are above their 30 DMA.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: XLB, XLY,

MU, MXIM, ATVI, VIAB, CMCSA, FB, PCAR, WDC, EBAY, SWKS, ADI, NCLH, TMUS, EA,

BA, DIS,

BABA, RCL, CCL, FLEX, ATI, DHI, HAL, SQ, CFG, DD, CF,

One Day Pullback: USB, V, KLAC, LNG, XLP, V, WFC, ADSK, COST, NRG,

Bull Flag Bounces include: FAST, JD, YHOO, XLI, CSX, PCLN, BA, CHTR, MSFT, TXN, IBM, V, GLW, GD, STI, HBAN, (17)

At Support Setups include: CAT, MMM, INTC, DISCA, CHK, HIG, ETFC, NUE, XOM,

AMZN, GOOGL, STLD, AKS, BHI, HES, TLT, MT, CLF, HIG, SCHW,

Support Bounce: AAL, UTX, GM, XLNX, MGM, ADP, UPS, APA,

Horizontal Breakout Setups include: SPY, DIA, XLK, IWM, TSLA, AAPL, ADBE, STX, MS, BAC, FAS, RF, GS, C, ZION, KEY, JPM, WFC, CHKP, MAR, DAL, ALK, AXP, PNC, DE, AMAT, UTX, X, NVDA, LRCX, TRV, UNH, LUV, CMA, ROST, PG, ICE, FCAU, ADP, SBUX, FISV, DAL,

Horizontal Breakouts include: AMD, WB, NTES, SOXL,

New Highs include: AMD, SYMC, CC, AAPL, SHOP, MCD, AVGO, CSCO

Break of Support: VALE, PAYX, 

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Earnings

This week:

Monday – CBOE, DO, FOXA, HAS, NOV, SALT, TSO

Tuesday – ADM, AKAM, BWLD, CAH, CSRA, DIS, GILD,

Wednesday –

Thursday –

Friday –

Earnings Reports

Positive earnings reactions

HAS +11.68, +14.14%

SALT +0.45, +6.16%

Negative earnings reactions

NWL -2.66, -5.67%

DO -0.81, -4.75%

2016 Q4 EPS

EPS Positive Reactions

HAS, SALT, FTNT, MTD, V, CLX, R, HSY, IDXX, BSX, EL, NXPI, SYMC, AMD, AAPL, AVY, ARNC, TMO, DHR, COH, NDAQ, ABC, SPG, LLY, AET, HCA, AMG, MXIM, VMW, WYNN, MSFT, KLAC, INTC, GD, ETFC, CMCSA, URI, RCL, LUV, EBAY, WDC, STX, LOGI, ROK, BA, HBAN, ISRG, NSC, ATI, GLW, RMD, DHI, DD, MB, BABA, CA, YHOO, SWKS, KSU, PG, CFG, COL, IBM, CHKP, NFLX, UNP, FAST, WFC, SNX, MSM, CUDA, GPN, MU, CAG, NKE, KMX, CCL, JBL

EPS Negative Reactions

NWL, DO, HBI, FEYE, GPRO, SKYW, CMG, AMZN, HIG, PSX, CME, CRUS, RL, R, FB, QRVO, PBI, D, ADP, UAA, UPS, MA, NUE, XOM, JNPR, SBUX, PYPL, GOOGL, JBLU, F, CAT, WHR, FFIV, LVS, CTXS, QCOM, MUR, FCX, STLD, CA, FCX, HES, STT, AKS, VZ, JNJ, LMT, MMM, TRV, HAL, MCD, GE, NTRS, CSX, C, CMA, MS, UNH, AYI, CMC, STZ, SCHN, RHT, BBBY, FINL, AGN, FDX, GIS, ADBE

Technical Trading Observations

Indicators can be helpful, however you should remember that indicators are lagging and secondary to price.  If the price action is up and the indicator is still pointed down, follow the price.  “Price is king” means price is most important.

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.