The Euro rallied from overnight lows after
the open and then fell to the 1.2440
area before rallying more than 60 pips. Interest rates, financial stocks and
the broad indexes moved higher. Bonds and VIX volatility moved lower.
All nine sectors moved higher on Tuesday. XLY, XLE, and XLF were
the strongest sectors.
Breadth
strengthened as
advancers led decliners 1.76 to 1 on
the NYSE and 1.26 to 1 on
the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 1,918 1,383
Decliners 1,084 1,091
SPY moved up 66 cents on 141.4 million shares closing above its 30
DMA. The SPX gained +6.27 at 1,319.99.
The
Market Forecast green line is pointed down.
AAPL
up +1.26 at 5723.02 on 9.8
million shares...
FB
up $1.04 at 33.10 on volume of 24.8
million shares...
GRPN
+0.36, +3.64%…
Tuesday
produced several stocks that bounced and broke above the high of the low day
for a potential bull flag entry.
Daily
Bull Flags: AKAM, ULTA, CSTR, AVGO, MLNX, ROST,
URE, NFLX, CRUS,
IWM, AAPL, ORLY, ALGN, PCLN, JDSU, EXPE, C, PNRA, MCHP, SPY, DIA,
QQQ, GOLD. MSFT, TSLA
Flag Bounce: AMZN, VRSN, SHLD, CMG, ALXN, MNST, CTXS, HSY,
CIEN, COST, DE, INFA, ICE, SXCI, MCD, CL, COF, URE, COP, DIS, SHW, KMB, LEN,
FAS, SPG, EBAY
Breakout: VMED, APOL, MOS, POT
C
Pattern Continuation: CSTR, SRCL, SIAL, FISV, SHLD, V,
C
Pattern Pullback: TSLA, MSFT, ISRG, CTXS, AVGO, AAPL
C
Pattern Reversal: VMI, SWKS
C
Pattern Entry: SAVE, FAS, SBUX, DKS, INTU
C
Pattern Setup: SWI, CRM, ORLY, HIBB, ODFL, PIR, A, DHR, FMC
Break of Support:
QCOM, MRVL, BIDU
Support Bounce: ZAGG, GOOG, VECO, TFM
At Support: VMW,
TPX, MRVL, EXPD, F, ALTR, LVS, RVBD, MCP, TFM, CROX
Technical Commentary:
SPY
rose 66 cents forming a hammer on moderate volume of 141.4 million shares as buyers
returned on Tuesday and the short term support area of 130.50 held. Breadth improved as the Euro bounced off its
early morning lows. Patience was
rewarded on Tuesday as many stocks gave bull flag entry signals.
Tuesday Highlights:
SPY
closes up 66 cents
The
Euro moved down 9 pips, closed at 1.2494
TNX
+0.20
VIX
fell -0.66 at 19.72
XLF
closed +7 cents at 14.11
71 of 100 NDX stocks closed higher on Tuesday…
Leading NDX 100stocks included APOL, NWSA, SHLD, STX, CELG, SPLS,
VRSN, AMZN, VRTX, LINTA
Lagging NDX stocks included FSLR, CTSH, RIMM, EXPD, EA, NTAP, TEVA,
DTV, CSCO, LRCX
Leading stocks > +2% on Tuesday included NTES, MOS, VECO,
GRPN, LNKD, FB, STI, CLF, DE
Losing stocks < -2.0% included PCX, TSL, LDK, TSLA, ANR,
SINA
Stocks to Watch on Wednesday
Holding
Above 30 DMA = 19
TLT,
CRUS, CIEN, ICE, GES, CSTR, HUM, BAC, DLR, HLF, URE, LNKD, MOS, TSLA, V, CMG,
UAL, CHL, ESI
Moving Above 30 DMA = 5
DE, FAS, INFA, RCL, STI
Moving Below 30 DMA = 12
TSL
Staying
Below 30 DMA
C, JDSU, MCP, SINA, SMH, SWI, SWKS, NTES, A, CDE,
CLF, DHR, F, FCX, GLW, GS, IBM, RVBD, SLB, VECO, GRPN, FAZ, DECK, NKE, ZAGG, CRM, LDK, CREE, WDC, ANF, ATI, VMW, ESI, TIF,
UCO, AKS, ANR, JNPR, X, SOHU, CROX, LVS, PCX,
SWK, TPX, ZION, TBT, COH
Five
Week Intermediate Term Market Trend:
Neutral
Short Term Market Trend: Down
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