Six of nine sectors moved higher on Tuesday. XLU, XLF and XLK were the strongest sectors.
The SPY broke above the high day the low day in a bull flag at the open but then reversed as the Euro started to give back its overnight gains. The SPY found support around 130.75 after the Euro found support around noon ET. The SPY did not fall below Monday’s low and closed down just five cents on Tuesday. The intermediate term trend is still up.
Money Flow
Euro -60 pips 1.3082
TNX -0.38 17.99
TLT +1.38 120.85
XLF +0.05 14.05
SPX -0.60 1,312.41
VIX +0.04 19.44
NDX +0.11%
COMPQ +0.07%
RUT +0.06%
SPX -0.05%
INDU -0.16%
Money Flow was typical as the Euro fell and TNX moved lower and bonds closed higher. XLF did rise again even though interest moved lower. The SPX closed slightly lower. The most recent SPX breakout has a chart target of 1,428 within 12 weeks.
The VIX moved slightly higher and did confirm the slightly lower SPX on Tuesday.
The SPX rose 4.3% and the NDX gained 8.3% for the month of January. The NDX closed Tuesday with a bull market new high close.
The SPX rose 4.3% and the NDX gained 8.3% for the month of January. The NDX closed Tuesday with a bull market new high close.
(click image to enlarge)
SPY moved down 5 cents on volume of 157.1 million shares.
Breadth strengthened as advancers led decliners 1.41 to 1 on the NYSE and 1.13 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 1,745 1,343
Decliners 1,229 1,179
Several bull flags gave entry signals on Tuesday including SPY and X which reported earnings before the open. AMZN -16.94, -8.71% reported lower sales and guidance after the close. Place some conditional orders tonight and have some fun tomorrow if the market bounces.
Tuesday Reports
AMZN miss revenues lower guidance
BRCM beat
MTW revenues beat
MAT EPS beat
STX beat
X beat
(click image to enlarge)
Earnings season continues…
Wednesday – BMC, CMG, EA, ENTR, GMCR, JDSU, LVS, QCOM, NDAQ
Thursday – CME, DOW, MA, MCHP, PCX, RCL
Leading stocks > +2% on Tuesday ZAGG, X, GRPN, COH, GES, GLW
Losing stocks < -2.0% included TSL, PCX, ANR, LDK, LNKD, ENTR, SOHU, CDE, SWN, TPX, TBT, KKD, NDAQ
NDX 100 stocks stronger than the NDX included VRTX, MAT, EA, SIRI, ALXN, BMC, GRMN, AMAT, FLEX and DELL.
Stocks weaker than the NDX include SHLD, NFLX, SPLS, FSLR, CTRP, BIDU, RIMM, APOL, ORCL and NWSA.
Two NDX stocks CHRW and COST closed above the 30 DMA and two closed below the 30 DMA leaving 90 NDX stocks above their 30 DMA.
Stocks to Watch on Wednesday
Holding Above 30 DMA = 67
WDC, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, SWK, UNP, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, KKD, CREE, GS, CROX, HLF, LNKD, LVS, RCL, SLW, SOHU, TSL, CSTR, SINA, VECO, COH, MCP, ARUN, CDE, CRM, FFIV, HAL, SLB, INFA, NTES, NVDA, VMW, WLT, IBM, ZAGG, UAL, TSLA, UCO, LDK, TLT
Moving Above 30 DMA = 2
GES, TIF
Moving Below 30 DMA = 5
ANF, ANR, JNPR, NDAQ, SWN
Staying Below 30 DMA
TBT, V, ICE, RVBD, UCO, ATI, SNDK, ZION, GLW, HUM, GRPN, PCX, FAZ, DECK
Seventeen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
2 comments:
Dave:
Thanks for updates and graphs.
Robert
CANI_212
Hey....that is great guidance to "place some conditional orders tonight and have fun if the market bounces". Why not? if the market doesn't bounce, then they prob. won't be triggered in. Thank you for such clear guidance. I/wish you were able to post the final blog of the day a little earlier, but I have the feeling that it is because you or so incredibly busy that there just is no time before the late night hours!
Post a Comment