Six of nine sectors moved higher on Tuesday… XLE, XLB, and XLI were the strongest sectors.
Breadth
strengthened as
advancers led decliners 1.83 to 1 on the NYSE and 1.81 to
1 on the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 1,935 1,597
Decliners 1,055 879
Tuesday Highlights:
SPY
+ .70 at 140.32 on 109 million shares, a bull flag bounce past T1
a recent new high close, above 30 DMA for the seventh straight day.
TNX
up + .70 at 16.28…
VIX
up +0.04 at 15.99…
XLF
up + 6 cents at 14.94…
AAPL
down - 1.63 at 620.91 on 10.3 million shares...
FB
down - 1.20 at 20.72
on volume of 36.7 million shares…
The
Market Forecast green line is pointed up.
Technical Commentary:
The
SPY continues its bull flag climb…closing at a new high of 140.32 and closing
with a white candle…continues to move higher towards it flagpole target of 143.88…
FOSL
gapped up on earnings report…up 21.98…a
whopping 31.49%...volume was 7,000,000…
GMCR
closed up 1.83 or 8.54 % on 8.3 million shares…
Chart Signals looks
for the nine week up trend to continue following Monday’s and Tuesday’s continuation
of Friday SPY bounce and breakout.
Chart Target Insight:
SPY
= 141.66 Fib extension 161.8, 143.10 S&R Measuring
ES = 1,411 Fib extension 161.8, 1,425.75 S&R Measuring
Chart Patterns
Horizontal
or Diagonal Breakout: TPX, TIF, GS, RVBD, BECO, CIEN, CROX, X, JDSU, LNKD, CDE, TSLA, STX,
SIRI, MVDA, CELF, LIFE, XRAY, EA, BMC, NUAN…New breakouts on Tuesday: DECK, NTAP, ALTR, FLEX, WYNN
Bull
Flag Bounce: SPY, DIA, QQQ, AAPL, ADP, ADSK, AKAM, ALXN, AMZN, BIIB, CELG, COST, DTV,
EXPE, GOOG, LLTC, MAT, MCHP, MRVL, NWSA, ORCL, QCOM, VMED, VRSN, CIEN, CROX,
CRUS, GS, HLF, IBM, JDSU, NKE, RVBD, SLB, SWK, V, VMW, WDC…
Pennant
Breakout: BIDU…New
on Tuesday: CSTR, GLW, HUM, YHOO, AMAT,
FFIV, LRCX
GAP
Up: GES…New on Tuesday: AKS, FOSL, MU
Double
Bottom Bounce: IWM, DLTR, ISRG, MNST, ROST, SIAL, BAC, TBT
Setups:
Breakout:
C, FAS, LNKD, URE, X,
Bull
Flag: AMGN, EBAY, MU, NTAP, PCAR, PNRA, SIRI, SNDK, CHL, GES, SWKS, TPX
Earnings Reaction Week August 6
Stocks
Up
CTSH, SOHU
Earnings of Interest Aug 6 - 9
Monday: CTSH, SOHU
Tuesday: ESRX, EXPD, FOSL, PCLN, SIRI
Wednesday:
LINTA, MNST, NUAN, NWSA
Thursday: NVDA
83 of 100 NDX stocks closed higher on Tuesday…
Leading NDX 100 stocks
included: FOSL, GMCR, FSLR, WCRX, FLEX, AMAT, MRVL, WYNN, EA, FFIV, SHLD, SIRI,
NTAP MNST, SBUX, MU
Lagging NDX stocks included: NUAN, SRCL, CMCSA, AMGN, EXPD, ALXN, VRTX,
COST, CTSH, WFM, DTV, GOOG, TEVA, AAPL, FISV, GILD, VRSN
Leading stocks > +2% on
Tuesday included: TSLA, DECK, TPX,
CDE, GES, MCP, CMG, RVBD, TSL, CSTR, SINA, CRM, TIF, ATI, UCO, FCX, AKS, A
Losing stocks < -2.0% on
included: FB, LNKD, URE
Stocks to Watch on Wednesday…
Holding Above 30 DMA = 45
URE,
MOS, CHL, SLB, WDC, UCO, TPX, SWK, TIF, DLR, GS, JNPR, RVBD, SWI, CIEN, CROX,
CRUS, DHR, HLF, IBM, SMH, SWKS, V, VECO, FCX,
CREE, A, C, DE, FAS, FCX, GES, JDSU, LNKD, NKE, RCL, STI, TBT, VMW, ATI,
BAC, CDE, CRM, SINA, SOHU
Moving Above 30 DMA = 5
DECK,
F, LVS, NTES, ZION
Moving Below 30 DMA = 1
DLTR
Staying
Below 30 DMA
ANF,
ZAGG, COH, ICE, FAZ, TSLA, CMG, DECK, ESI, UAL, FB, AKS, CSTR, LDK, MCP, CLF,
GLW, INFA, NTES, TSL, CDE, HUM, F, GRPN, ANR, LVS
Nine
Week Intermediate Term Market Trend: Up
Short Term
Market Trend: Up
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