QQQ Leads on SWKS, AAPL, AVGO...SPY Ends Flat after Early Gains...Support Holds Day Four...

Three of nine sectors moved higher and one was unchanged on Wednesday…XLK, XLU and XLY were the strongest sectors while XLE was again the weakest sector.  Oil futures fell 1.33 to close at 43.64.

Breadth strengthened as decliners led 1,569 to 1,462 on the NYSE and led 1,428 to 1,367 on the NASDAQ.

Wednesday – strengthened, decliners led, +5

Tuesday – weakened, decliners led, +0

Monday – strengthened, advancers led, +9

Friday – weakened, decliners led, +0

Thursday – weakened, decliners led, +3

SPY down 0.08 at 213.15 on 134.1 million shares, 78% above average volume

VIX up .29 at 18.14

TLT up 0.20 at 134.25…on 7.0 million shares, 2% above average volume

Technical Commentary:

QQQ +0.48%, IWM +0.02%, SPY -0.04%, DIA -0.20%,

SPY gained more than a dollar on Wednesday morning only to give I back and finish 8 cents lower for the day.  Short-term support 212.31 held for the fourth straight day.

QQQ was again the leading broad market ETF on Wednesday closing higher while forming a potential bounce chart signal.  Leading NDX stocks included SWKS, AAPL, AVGO, ALXN, NCLH, VIAB, REGN, DLTR, BMRN, NTES, CELG, INTU, NXPI, CSX, TMUS, DISH, MU, INCY and YHOO.

BABA +2.12, +2.11% gave a bull flag bounce chart signal.

SINA +1.84, +2.49% forming a bull flag pattern.

MU +0.18, +1.07% forming a bull flag pattern.

YHOO +0.42, +0.98% forming a bull flag pattern.

FB +0.56, +0.44% forming a bull flag pattern.

INTC +0.01, +0.03% forming a bull flag pattern.

BIDU +0.28, +0.15% forming a bull flag pattern.

WMB -0.01, -0.03% forming a bull flag pattern.

BURL -0.13, -0.16% forming a bull flag pattern.

STX -0.07, -0.19% forming a bull flag pattern.

JD -0.52, -1.96% forming a bull flag pattern.

CHK -0.21, -2.85% forming a bull flag pattern.

45 Up Trending Stocks that you might want in your watch list:

ADBE, ADSK, AMAT, CHTR, CSCO, CTRP, EA, FB INTC, MU, NTAP, NTES, NVDA, QCOM, SWKS, SYMC, XLNX, FAS, IWM, UBNT, YELP, AMD, CHK, XEC, GT, MSI, TSN, CTAS, HRS, WMB, CAVM, BURL, WRK, BABA, SINA, JPM, V, BAC, ZION, MS, SCHW, GS, C, FL, HRL

Monday was a re-entry day on many charts.  Many more charts are set up to be a potential re-entry on Tuesday.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

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: UAL, AAL, CHK, XLNX, V, STX, FB, MU, BABA, BIDU, SINA, YHOO, INTC, JD, WMB, SE, BURL, SYMC, EBAY, APA, WRK, ZION, BAC, SCHW, JPM, GS, CHTR, WDC, HRS, AMAT, NFLX, AKAM, CSCO, WBA SWN, ADSK, URBN, KSS, RL, FL,

Bull Flag Bounces include: CAVM,

Horizontal Breakout Setups include: ATVI, PYPL, VLO, MPC, MA, MS, LVNTA, GT, STT, NTAP, SWKS

Horizontal Breakout include: AAPL, ETFC,

New Highs include: ETFC, NTES,

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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 pointed down at 31, bearish.  SPY is still above short-term support.

53 of 100 NDX stocks closed higher and four were unchanged on Wednesday.

30 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

NFLX, SWKS, XLNX

Moving Below 30 DMA = 3

CHKP, TRIP, WBA

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

SPY, DIA, IWM Give Back Monday's Gain and Hold Support...QQQ Above Friday's Close...

All nine sectors moved lower and on Tuesday reversing Monday’s bounce…XLK, XLP and XLV were the strongest sectors while XLE was the weakest sector.  Oil futures fell 1.09 to close at 44.97.

Breadth weakened as decliners led 2,754 to 339 on the NYSE and led 2,324 to 521 on the NASDAQ.

Tuesday – weakened, decliners led, +0

Monday – strengthened, advancers led, +9

Friday – weakened, decliners led, +0

Thursday – weakened, decliners led, +3

Wednesday – strengthened, advancers led, +5

SPY down 3.11 at 213.23 on 182.8 million shares, 148% above average volume

VIX up 2.69 at 17.85

TLT down 1.54 at 134.05…on 15.6 million shares, 124% above average volume

Technical Commentary:

QQQ -0.89%, DIA -1.36%, SPY -1.44%, IWM -1.92%,

SPY gave back Monday’s gain closing near Friday’s low.  SPY sold off to Monday’s low where buyers stepped in again on Tuesday.  Short-term support 212.31.

QQQ was the leading broad market ETF on Tuesday closing $1.01 above Friday’s close.  Leading NDX stocks included LMCA, PYPL, AAPL, NTES and AVGO.

Airline stocks UAL ALK and AAL are forming up trending potential bull flag patterns.

FB -1.48, -1.15% forming a bull flag pattern.

MU -0.40, -2.33% forming a bull flag pattern.

JD +0.03, +0.11% forming a bull flag pattern.

STX -0.41, -1.12% forming a bull flag pattern.

WMB -0.67, -2.20% forming a bull flag pattern.

YHOO -0.42, -0.97% forming a bull flag pattern.

BABA -0.52, -0.52% forming a bull flag pattern.

CHK -0.67, -8.32% forming a bull flag pattern.

BURL -1.20, -1.44% forming a bull flag pattern.

BIDU -2.23, -1.21% forming a bull flag pattern.

INTC -0.47, -1.30% forming a bull flag pattern.

  

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: UAL, ALK, AAL, CHK, V, STX, FB, MU, BABA, BIDU, SINA, SYMC, EBAY, ADSK, YHOO, INTC, JD, WMB, WRK, BAC, BURL, SCHW, JPM, GS, CHTR, CAVM, KMI, HRS, AMAT, NFLX, XLNX, AKAM, WDC, CSCO, URBN, KSS, WBA SWN, VLO, RL, FL,

Bull Flag Bounces include: SWKS, PYPL,

Horizontal Breakout Setups include: ETFC, PYPL, VLO, MPC, ATVI, MA, MS, ZION,

LVNTA, GT, V, STT, NTAP,

Horizontal Breakout include: PYPL,

New Highs include: ETFC, NTES, 

______________________

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 pointed down at 47, defensive. 

11 of 100 NDX stocks closed higher on Tuesday.

26 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

AAPL,

Moving Below 30 DMA = 15

AKAM, AMGN, AMZN, BMRN, CSCO, DISH, EXPE, KHC, LRCX, MDLZ, NFLX, NVDA, QCOM, VRSK, XLNX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

Stocks Bounce as Buyers Return on Monday...Bull Flags Prevalent...

All nine sectors moved higher and on Monday…XLP, XLU and XLK were the strongest sectors while XLB was the weakest sector.  Oil futures rose .35 to close at 46.06.

Breadth strengthened as advancers led 2,204 to 846 on the NYSE and led 2,032 to 775 on the NASDAQ.

Monday – strengthened, advancers led, +9

Friday – weakened, decliners led, +0

Thursday – weakened, decliners led, +3

Wednesday – strengthened, advancers led, +5

Tuesday – weakened, advancers led, +6

SPY up 3.06 at 216.34 on 168.1 million shares, 139% above average volume

VIX down 2.34 at 15.16

TLT up .07 at 135.59…on 9.0 million shares, 34% above average volume

Technical Commentary:

QQQ +1.79%, SPY +1.43%, IWM +1.39%, DIA +1.32%,

SPY bounced forming a large piercing line candle pattern as buyers returned on Monday rallying back to short-term support which was broken on Friday.

QQQ formed a bullish engulfing pattern. 

IWM formed a piercing line pattern.

DIA formed a piercing line pattern.

Airline stocks DAL UAL ALK, LUV and AAL are forming a potential bull flag pattern.

FB +1.59, +1.25% forming a bull flag pattern.

MU +0.34, +2.02% forming a bull flag pattern.

WMB +0.38, +1.26% forming a bull flag pattern.

Monday was a re-entry day on many charts.  Many more charts are set up to be a potential re-entry on Tuesday.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: UAL, ALK, AAL, V, NTAP, STX, FB, MU, WDC, SYMC, EBAY, ADSK, AMAT, NFLX, YHOO, SWKS, INTC, PYPL, JD, XLNX, AKAM, WBA LVNTA, SWN, WMB, VLO, GT, WRK, BAC, BURL, BABA, SCHW, JPM, BIDU, SINA, CAVM, RL, FL, KMI, DAL, LUV, MPC, HRS,

Bull Flag Bounces include: NTES, MA, MS, ZION, GS, ATVI, CHTR, CSCO, KSS, URBN, LVNTA,

Horizontal Breakout Setups include: LVNTA, MS, GT, V, MA, ZION, ATVI, URBN, CSCO, CHTR, GS, MPC, STT,

Horizontal Breakout include: ETFC, NTES, FCX,

New Highs include: CHK, ETFC, NTES, 

______________________

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 pointed down at 62, defensive. 

98 of 100 NDX stocks closed higher on Monday.

40 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 16

AKAM, BMRN, CSCO, CSX, DISH, EA, EXPE, ILMN, KHC, LBTYA, LRCX, MDLZ, NVDA, QCOM, TRIP, VRSK

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

Buyers Back in Town on Monday Morning...

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: UAL, ALK, AAL, STX, FB, ATVI, MU, WDC, SYMC, CHTR, EBAY, ADSK, AMAT, CSCO, NFLX, YHOO, SWKS, INTC, PYPL, JD, XLNX, NTAP, AKAM, WBA LVNTA, SWN, WMB, VLO, GT, WRK, V, BAC, MS, BURL, BABA, SCHW, ZION, BAC, GS, JPM, BIDU, SINA, CAVM, KSS, RL, FL, KMI, DAL, LUV, MPC, STT, HRS,

Bull Flag Bounces include: URBN, NTES

Horizontal Breakout Setups include:

Horizontal Breakout include: ETFC

New Highs include: CHK, ETFC

SPY Breaks Support, Triggers Stops...Posture Turns Defensive Again...VIX Jumps...

All nine sectors moved lower and on Friday…XLF, XLV and XLY were the strongest sectors while XLU was the weakest sector.  Oil futures fell 1.61 to close at 45.71.

For the week ended September 9,

XLE +0.90%, XLV -1.57%, XLF -2.16%,

SPY -2.33%,

Lagging sectors XLU -2.36%, XLK -2.51%, XLY -3.03%, XLI -3.07%, XLB -3.68%, XLP -3.89%,

XLV turned negative YTD this week leaving eight of nine sectors YTD positive after all nine sectors being YTD positive for the past four weeks.

YTD 174

Leading Sectors: XLE +15.55%, XLU +11.97%, XLB +9.26%, XLK +7.77%, XLI +7.75%,

SPY +4.62%,

Lagging Sectors: XLP +4.36%, XLF +0.88%, XLY +0.34%, XLV -0.72%,

Breadth weakened as decliners led 2,952 to 172 on the NYSE and led 2,465 to 395 on the NASDAQ.

Friday – weakened, decliners led, +0

Thursday – weakened, decliners led, +3

Wednesday – strengthened, advancers led, +5

Tuesday – weakened, advancers led, +6

Monday – Labor Day Holiday

SPY down 5.23 at 213.28 on 221.5 million shares, 230% above average volume

VIX up 4.99 at 17.50

TLT down 2.27 at 135.52…on 13.3 million shares, 97% above average volume

Technical Commentary:

DIA -2.12%, SPY -2.39%, QQQ -2.52%, IWM -3.12%,

SPY broke support on Friday and moved below the low of its $3.57 trading range for of the past 24 days.    

Airline stocks DAL UAL AAL LUV and ALK pulled back into a potential bull flag pattern after two strong days to the updside.

If you had moved stops up as we have suggested the past few weeks, there is a high probability that you were stopped out on Friday.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

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.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: 

______________________

Short-term Movers for the week:

SPX gainers:  SE, APA, CHK, COG, WYNN, TSO, WMB, SWN, NBL, CMG, RRC, MUR, EOG, +4, 16

SPX losers:  QRVO, MOS, GIS, KMX, FBHS, IR, MJN, ALLE, CBG, CMI, CAG, RAI, HST, CLS, LOW, MCHP, SEE, SYY, PNR, K, HLS, WHR, ALB, SIG, GPC, MAS, VTR, TDC, IRM, PBI, HES, NWL, ETN, HAR, HPE, PPG, VMC, RCL, EMN, FMC, KMC, HS, TSN, WYN, CL, BF/B, FLR, AA, GM, MLM, FLS, CHD, DHR, DOW, VXP, MO, TMO, URI, SLG, DPS, MHK, PX, BBY, WY, UDR, CPB, HOG, FFIV, YM, LEG, GCI, NKE, PLD, AYI, CAN, KMB, A, NUE, XYL, LYB, ITW, DHI, SYK, COL, CCL, AIV, XRAY, ECL, PEG, AMT, WRK, CTAS, SHW, DO, JWN, TEL, NWSA, PM, VNO, ADM, COH, GGP, JEC, PH, SNA, TIF, PPL  -4, 139

NDX gainers:  WDC, STX, AAL, LMCA, JD, +4, 3

NDX losers:  TSCO, SWKS, QVCA, CTRP, NXPI, AVGO, WFM, MXIM, VIAB, FAST, BBBY, MAT, TMUS, ADI, BIIB, CTSH, MAR, PCAR, DISCA, AKAM, NVDA, SBAC, MDLZ, COST, QCOM, LN, CTXS, TXN, EA, AAPL, ADP, MNST, KHC, ADBE, DISH, , -4, 37,

YTD: 174

SPX Leaders:  CHD, NEM, SWN, OKE, SE, RRC, CHK, URBN, FCX, KMI (315, -38 > 10p 200, -41)

SPX Losers:  FSLR, CF, PRGO, SIG, RCL, HRB, GCI, DO, FOSL, DAL

NDX Leaders:  NVDA, AMAT, CHTR, LLTC, NTAP, ULTA, YHOO, ISRG, TXN, FB, (54, -8, >10p 31, -5)

NDX Losers:  ENDP, LMCA, NCLH, ALXN, SRCL, REGN, QVCA, TRIP, INCY, MYL

DJI Leaders:  CAT, MRK, MMM, JNJ, WMT, CSCO, UNH, IBM, CVX, VZ, (20, -4, >10p 11, -2)

DJI Losers:  DIS, NKE, BA, GS, AXP, HD, GE, MCD, AAPL, KO

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 pointed down at 67, defensive. 

3 of 100 NDX stocks closed higher on Friday.

24 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 27

ADBE, ADP, AKAM, AMZN, BBBY, BMRN, CA, CSCO, CSX, DISH, EA, EXPE, GOOG, ILMN, ISRG, KHC, LBTYA, LRCX, MDLZ, NVDA, PAYX, QCOM, ROST, SBAC, SWKS, VRSK, XLNX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down