On Tuesday twenty-three NDX stocks crossed above their 30 DMA
on Tuesday… AKAM, AMAT, BBBY, BIIB, BRCM, CERN, ESRX, FSLR, INFY, INTU,
KLAC, MAT, MCHP, MXIM, NVDA, NWSA, ORLY, PCAR, QCOM, SIAL, VRSN, XLNX,
YHOO…making 45 NDX stocks above their 30 DMA.
The SPY which reversed much of Monday’s pull back closed just below its 30 DMA. After a trade reaches a target, Chart Signals
begins to look for re-entry.
After reaching a horizontal resistance target, a typical entry would
be the breakout.
All nine sectors moved higher on Tuesday. XLB, XLI, and XLF were
the strongest sectors.
Breadth
strengthened as decliners led advancers
3.61 to 1 on the NYSE and 2.31 to 1 on the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 2,360 1,739
Decliners 652 750
SPY moved up $1.50 on
181.8 million shares closing just below its 30 DMA and forming a white
candle. The SPX closed up +15.25 at 1,324.18 below resistance at 1,335.
The
Market Forecast green line is pointed up.
AAPL
was up 4.99 at 576.16 on 15.5
million shares...
FB
+39 cents at 27.40 on 15.8 million shares...
GRPN
-39 cents, -3.77%…
C
Pattern Continuation: SRCL, SWKS COST, AVGO, FISV, AAPL, CSTR
C
Pattern Pullback:
C
Pattern Reversal:
C
Pattern Entry: QCOM, AKAM, INTU, SIAL, ORLY
C
Pattern Setup: CMG, MSFT, SBUX, GOOG, SHLD, V, DHR, A, CTXS, VMW, ZAGG, TSLA, CRM,
Breakout:
VRSN, ROST, VMED
Breakout
Continuation: MNST, MCHP, DLTR
Breakout
Setup: RVBD,
C, JDSU, EXPD, ALXN, SPY, DIA, QQQ, IWM, AAPL, ICE, CHKP, FAS, VECO, URE, CRUS,
WFM, MOS, F, BIDU, PNRA, LVS
Bounce:
GOLD
Daily/Weekly
Bull Flags: INFA, MCP, SOHU
MACD
Histogram Bullish Divergence Confirmed: ALTR, TPX, NFLX, MRVL, CROX
Technical Commentary:
The
Euro rallied as did TNX, XLF and SPY.
The VIX and bonds moved lower.
Tuesday Highlights:
SPY
closes up 1.50
The
Euro moved up 27 pips, closed at 1.2503
TNX
+0.61
VIX
fell -1.47, below 25 at
22.09
XLF
closed +20 cents at 14.08
85 of 100 NDX stocks closed higher on Tuesday…
Leading NDX 100stocks included FSLR, SNDK, PCAR, MU, ALXN, GRMN,
CERN, ORLY,
GOLD, VOD
Lagging NDX stocks included APOL, CTRP, BIDU, CELG, GOOG, DTV, MYL,
TEVA, GILD, GMCR
Leading stocks > +2% on Tuesday included FAZ, GRPN, PCX,
ANR, ZAGG
Losing stocks < -2.0% included AKS, PCX, ANR, TPX, RVBD,
UCO, X, UAL, ATI, JDSU, FAS, CLF, C, ZAGG, VECO, CRM, CRUS, URE, GRPN, CIEN,
SWKS, MCP, BAC, ZION, CREE, VMW, TSL, COH, ANF, TSLA, RCL, SINA, SWI, INFA,
JNPR, CROX, DECK, FCX, STI, CDE, LVS, DE, GES, MOS, CMG, DLR
Stocks to Watch on Wednesday
HoldingAbove 30 DMA = 11
TLT,
FAZ, NTES, CRUS, SWKS, CIEN, ICE, CDE, GES, CSTR, HUM
Moving Above 30 DMA = 5
BAC, F, GLW, MOS, TSL
Moving Below 30 DMA = 1
Staying
Below 30 DMA
CMG, DECK, DLR, NKE, RVBD, UAL, VECO, SINA, SWI, A, DHR, GRPN, TSLA, V, ZAGG, CRM, LDK,
LNKD, CHL, URE, CREE, STI, WDC, ANF, ATI, DE, IBM, SLB, VMW, ESI, FAS, FCX,
SMH, TIF, UCO, AKS, ANR, JNPR, X, HLF, SOHU, CROX, LVS, PCX, RCL, CLF, MCP,
SWK, TPX, ZION, INFA, TBT, JDSU, C, GS, COH
Eight
Week Intermediate Term Market Trend:
Down
Short Term
Market Trend: Neutral
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