PCLN Gaps to New All-time High on EPS...Broad Indexes Pause Below Record Highs before President's Address to Congress Tuesday Evening...

Setups to Watch for Wednesday

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Technical Commentary

SPY, DIA = Pause day after new all-time High

IWM = fall back to bull flag support

QQQ = Bull Flag pattern

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The broad index ETFs gain for the second straight month in 2017.

YTD Feb 28, 2017

QQQ +9.74%

SPY +5.79%

DIA +5.59%

IWM +2.16%

Up Trend: XLF, XLI, XLB, XLY, XLK, XLP, XLU, XLV, XLRE

Sideways:

Down Trend: XLE

Breadth weakened as decliners led 1,913 to 1,084 on the NYSE and led 2,256 to 647 on the NASDAQ.

Tuesday – weakened, decliners led, +2 sectors

Monday – strengthened, advancers led, +5

Friday – strengthened, advancers led on the NYSE, +8

Thursday – weakened, decliners led, +5

Wednesday – weakened, decliners led, +5

On Tuesday:

DIA -0.15%, SPY -0.27%, QQQ -0.31%, IWM -1.54%,

SPY down .64 at 236.47 on 96.8 million shares, 33% above average volume,

VIX up .83 at 12.92

TLT up .62 at 121.74…on 8.4 million shares 9% below average volume

Oil futures were down .04 to close at 54.00 on Tuesday.  

The SPY MFC green line is in the upper zone at 96 bullish. 

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

SPX and NDX Highlights

SPX down 6 points at 2,363.

SPX  gainers ALB, PCLN, ADM, AES, ENDP, HPE, XRAY, AW, CNP, FE, VRTX, LUK, HRL, ETR, HRB, CELG, SRE, NTAP, OKE, ORLY, AMT, PNW, WEC, HUM, SCG, LNT

QQQ closes down 40 cents at 130.02.

   

NDX point leaders: PCLN, CELG, KHC, TSLA, VRTX, SBAC, BMRN, TMUS, AMGN, AAPL, BIDU, XRAY and ORLY

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

83 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

AAL, WDC,

Moving Below 30 DMA = 5

CMCSA, FAST, INTC, LBTYA, MU,

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: QQQ, XLY, IWM, FAS, XLI, SOXL,

DD, JPM, PG, IBM, GS,

ADBE, AMAT, CHKP, CTRP, INTU, MAR, NCLH, SBUX, ULTA, YHOO, AMAT, AMZN, ATVI, FB, GOOGL, SWKS, VIAB, PYPL,

SRCL, WIX, SHOP, WB, CC, WFC, RF, HBAN, MS, CLF, VALE, STI, FLEX,

One Day Pullback: AMD, SQ, ADSK, XLK, NVDA,

Bull Flag Bounces include: TMUS, X, (2)

Horizontal Breakout Setups include: AMD, NTAP, NTES, AXP, AAPL, ADI, AVGO, STX, WDC, BAC, ZION, STLD, DE, NUE, MU, LRCX, INTC, TXN, DIS, HIG, CSX, TLT, XLB, ROST, MSFT, MCHP, MXIM, BABA, CAT, SODA, RCL, LNG, NVDA, CCL,

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Horizontal Breakouts include: PCLN, UNH,  

New Highs include: PCLN, BA, AAPL, XLP, MCD, GLW, KLAC, SPY, DIA, COST, GD, EBAY, USB, MMM, LUV,

At Support Setups include: PCAR, ETFC, GM, UPS, NRG, MT, FCX, BHI, HES, MGM, GDXJ, HAL, CF,

Support Bounce:

Break of Support: CHK,  

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Earnings

This week:

Monday – PCLN, SBAC

Tuesday – ENDP, QVCA, ROST, TGT, AZO, AMBA

Wednesday – DLTR, MNST, BBY, LOW

Thursday – JD, COST, KR

Friday – BIG

Earnings Reports

Positive earnings reactions

ALB +9.05, +9.79%

PCLN +92.12, +5.64%

ENDP +0.36, +2.71%

SBAC +2.98, +2.64%

Negative earnings reactions

TGT -8.14, -12.17%

QVCA -1.07, -5.36%

After-hours reports

AMBA -2.93, -4.97%

2016 Q4 EPS (since Feb 15)

EPS Positive Reactions

ALB, PCLN, ENDP, FL, KSS, INTU, JWN, NCLH, CTRP, WMT, HD, HSIC, XRAY, SHPG, NTES, SRCL, NTAP, CSCO, SHPG, WIX, ADI, WYN, SODA,

EPS Negative Reactions

TGT, QVCA, BIDU, BMRN, TSLA, SINA, LB, SLCA, VRSK, DISH, TRIP, ALXN, FOSL, AIG, DVN, KHC,

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