Five of nine sectors moved higher on Tuesday. XLB +0.93%, XLV +0.42% and XLU +0.29% were the strongest sectors.
The Euro was up 26 pips to 1.3407 at 5pm EDT on Tuesday. TNX was up +0.39 to 20.93. TLT was down -$1.13. Financials XLF was up 1 cent.
The broad indexes were mixed on Tuesday on relatively light volume with the INDU +0.43%, SPX +0.11%, RUT -0.03%, COMPQ -0.23% and NDX -0.23%. The broad indexes are above their 10 DMA and 30DMA. The SPX moved up +1.39 to close at 1,258.47. The SPX and SPY stayed above the diagonal resistance that it closed above on Monday.Leading stocks > +2% on Tuesday LNKD, CF, CSTR, POT, LDK, MOS, CREE, IL, SLW, AKS, TBT
The Euro was up 26 pips to 1.3407 at 5pm EDT on Tuesday. TNX was up +0.39 to 20.93. TLT was down -$1.13. Financials XLF was up 1 cent.
The broad indexes were mixed on Tuesday on relatively light volume with the INDU +0.43%, SPX +0.11%, RUT -0.03%, COMPQ -0.23% and NDX -0.23%. The broad indexes are above their 10 DMA and 30DMA. The SPX moved up +1.39 to close at 1,258.47. The SPX and SPY stayed above the diagonal resistance that it closed above on Monday.Leading stocks > +2% on Tuesday LNKD, CF, CSTR, POT, LDK, MOS, CREE, IL, SLW, AKS, TBT
SPY moved up 4 cents on volume of 178.4 million shares on Tuesday.
The VIX moved up +0.29 to 28.13. This is a non-confirmation.
AAPL, AMZN, BIDU, GOOG and PCLN moved lower on Tuesday. QCOM moved higher.
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Setups
Horizontal Breakout New Highs - FAST, FFIV, GRMN, ROST, DLTR, GOOG, NGLS, IBM, KLAC
Horizontal Breakout - SLB, SWK, AKAM, NVDA, QGEN, APOL, MAT, CSCO, INTC, INTU, ISRG, JOY, SBUX, SNDK, TSLA, UNP, WDC, V, CAT, ATI, X, DOW
Diagonal/Flag Breakout – AKAM, NVDA, WDC, V
Bear Flag - SINA, SWKS, LNKD, ANF, ESI, GRPN, BAC, WYNN, PCLN, ADBE, INFY, VRTS, CERN, AMZN
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Breadth weakened as advancers led decliners 1.01 to 1 on the NYSE and decliners led advancers 1.28 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 1,505 1,094
Decliners 1,488 1,409
Losing stocks < -2.0% included STI, CROX, SINA, TSL, HAL, ARUN, KKD, CIEN, TPX, ZION, MCP, JNPR, VECO, RVBD, JDSU, ANR
NDX 100 stocks stronger than the NDX included MRVL, ADSK, ERTS, CELG, INTC APOL, SHLD, COST, ILMN and BMC.
Stocks weaker than the NDX include FSLR, WYNN, AKAM, GMCR, NFLX, BIDU, CTRP, AMZN, ALTR and SYMC.
Four NDX stocks EBAY, MRVL, TEVA and VOD closed above and ALTR, BIDU, FSLR, HSIC and LLTC closed below the 30 DMA leaving 61 NDX stocks above the 30 DMA.
Stocks to Watch on Wednesday
Holding Above 30 DMA = 42
TSLA, NGLS, UCO, CDE, DE, FFIV, HUM, NKE, NVDA, UNP, V, WDC, ANR, ATI, CAT, CLF, CRUS, DOW, FCX, IBM, LDK, NDAQ, SLB, SWK, TSL, X, ENTR, NTES, SNDK, UAL, CMG, DLR, INFA, RCL, A, AKS, C, COH, F, FAS, GS, SMHMoving Above 30 DMA = 2
DHR, ICE
Moving Below 30 DMA = 11
CHL, CRM, DECK, HAL, HLF, JNPR, RVBD, STI, TLT, VECO, ZION
Staying Below 30 DMA
KKD, LVS, SLW, FAZ, GLW, TIF CIEN, JDSU, VMW, ARUN, CF, CREE, SWN, URE, WLT, MOS, PCX, TPX, GES, SOHU, MCP, BAC, CSTR, IL, POT, SINA, SWKS, ZAGG, LNKD, ANF, ESI, TBT, CROX, GRPN
Eight Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
3 comments:
Dave, are you testing us to see if we are reading these posts? Either ur testing us or I am not seeing the light on VRTS as a bear flag, with such low volume, how would you trade that?
I truely appreciate your daily posts and insight it has helped me tremendously. W/o your help I don't know that I'd have the confidence to do what I am now doing. Thank you
Randy, it could also just be a typographical error. Look at VRTX instead of VRTS and I think you'll find that bear flag setup.
Dave, thanks for continuing to update the blog even with your busy schedule. I read it every day.
Great support
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