SPX Range Bound as Financials Drag...NDX Up on AAPL, AMZN, NVDA Gains...

Setups to Watch for Tuesday

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Technical Commentary

The intermediate and long-term trends are still up.

AMD, RJF and ARE replaced URBN, FTR and FSLR in the S&P 500 before the open today Monday March 20.  The change is occurred because S&P has raised the market cap guide for inclusion in the SPX to $6.1 billion from $5.3 billion.

QQQ +0.13%, DIA -0.02%, SPY -0.12%, IWM -0.43%,

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Up Trend: XLI, XLY, XLK, XLP, XLU, XLV

Sideways: XLB, XLF, XLRE

Down Trend: XLE

Breadth weakened as decliners led 1,738 to 1,234 on the NYSE and led 1,758 to 1,127 on the NASDAQ.

Monday – weakened, decliners led, +4

Friday – strengthened, advancers led, +6

Thursday – weakened, advancers led, +3

Wednesday – strengthened, advancers led, +9 sectors

Tuesday – weakened, decliners led, +0

SPY down .26 at 236.77 on 50.7 million shares, 32% below average volume, 1.033118 dividend on Friday, March 17

VIX up .06 at 11.34

TLT up .57 at 119.21…on 5.4 million shares 37% below average volume

Oil futures were down .35 to close at 48.91 on Monday.

The SPY MFC green line is in the upper zone at 82.8, bullish.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

SPX and NDX Highlights

SPX down 5 points at 2,373.

SPX  gainers AMD, NVDA, CAT, BHI, IFF, NEM, EQIX, ILMN, IP, MU COG, ALK, TIF, NKE, NRG, WRK, JCI, WYNN, CCI, WFM, UAA, AAPL, UAL, PLD, PPG, RHT, XRX, MON, PM, DIS, TSN, DLR, OKE, RRC, HCN, MHK, AMAT

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QQQ closes up .12 at 131.81.

   

NDX percentage leaders: AAPL, AMZN, NVDA, INTC, CELG, ILMN, KHC, MU, MSFT  and AMGN

43 of 100 NDX stocks closed higher on Monday.

71 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 8

GILD, LVNTA, MAT, ROST, SHPG, VIAB, WBA, WDC

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: QQQ

BA, MCD, UNH,

AVGO, NXPI, NTAP, MYL, NTES, ADBE, ADSK, EA, MNST, QCOM, SWKS, SYMC, TSLA, TXN, HOLX, INCY, ADBE, SWKS,

One Day Pullback: EXPE, FB,

Bull Flag Bounces include: NTES, (1)

Horizontal Breakout Setups include: DIS, MAR, DD, YHOO, AMD, NVDA, TSLA, AMZN, NTES, NFLX, ATVI, SODA, CC, XLP, MGM, GDXJ, PAYX, ADI, PG, UPS, RCL, JD, WUBA, NCLH, QCOM, CTRP, CL, SRCL, WB, AMBA, BHI, DE, NUE, TMUS, CAT, PCAR, GD, 

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Horizontal Breakouts include: MMM, QQQ, XLK, MU, SHOP, 

New Highs include: SOXL, AMAT, LRCX, KLAC, NKE, FB, SYMC, CLX, ULTA, MMM, BABA, NRG CCL, GOOGL, TXN, ATVI, MXIM, WIX, PCLN,

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Earnings

This week:

Monday –

Tuesday – GIS, LEN, FDX, NKE

Wednesday – CTAS,

Thursday – ACN, PVH, CAG, MU

Friday –

2016 Q4 EPS (since Mar 7)

EPS Positive Reactions

TIF, ADBE, ORCL, ULTA, SIG, HRB

EPS Negative Reactions

URBN,

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