Breadth weakened slightly on Tuesday as advancers led decliners 1.45 to 1 on the NYSE and 1.58 to 1 on the NASDAQ…
Exchange NYSE NASDAQ
Advancers
1,767 1,509
Decliners
1,215 951
Tuesday Highlights:
SPY lost 13 cents…closing at 141.03…volume was 120.1 million shares, up more
than 50% from last Tuesday at 75.6 million shares…
VIX up +0.51 at 17.98…confirms gain in SPY
Euro down 7 pips
at 1.2565…
TNX +0.19 at 15.81…non-confirmation of rising dollar
TLT down 12 cents at 127.72…
XLF unchanged at 15.16…
Gold +5.98 at 1698.60…
Oil -0.93 at 95.63…confirms rising dollar
AAPL up 9.73 at 674.97…volume 13.1 million shares …confirmed Friday’s bullish hammer
FB down 33 cents at 17.73… volume 46.6 million shares…made a new low
The Market
Forecast green line is in upper zone.
YTD At a
Glance
September YTD
SPY -0.09% +13.45%
AAPL +1.46% +67.37%
EXPE +1.23% +80.46%
STX +1.22% +101.2%
EBAY -0.24% +56.13%
Technical
Commentary: The SPY moved down 13 cents
on 120.1 million shares down
30 million shares from Friday. The
Unemployment and Jobs Report will be out this Friday morning.
The current diagonal channel on the SPY is a trend continuation
pattern. Chart Signals
expects the current uptrend to continue. Stay prepared for the smaller probability of
a break of support.
The Euro paused
at resistance in its sideways consolidation on Tuesday and the RUT +1.24% confirmed its hammer leading the broad
indexes. above short-term support. XLF formed
a spinning top.
Chart Targets:
SPY = 143.10 S&R Measuring
ES = 1,425.75 S&R Measuring
Short-term support at
140.22, 139.80
= SPY
1,403, 1,395, 1,387
= ES
2,750, 2,743,
2,700 = NQ
SETUPS…
At Support: DECK, MOS, SOHU, ZION, BRCM, CHL
Flag: CRUS,
ICE, LVS, NKE, RCL, KORS, MCP, MAKO, VHC
Channel at Support:
JNPR, WDC, SHLD, JDSU, QCOM, NFLX, GRMN, IBM, SLB, TSL,
Bullish Engulfing:
SWI, SOHU, ZION,
CROX, RVBD, VECO
Hammer Candle: CRUS, ICE, RCL, BRCM, GMCR, SNDK, XLNX,
CREE, VMW, SWKS, EBAY, ORCL
Bounce:
SINA, HLF, RVBD, SWI, INFA, STI, AAPL, CROX, F, VRSN,
Friday: FCX, SWKS, AKS, UCO, GLW, EA, NTES, TLT, CRM,
DE, DHR, MOS, SDRL, SMH, CELG, EBAY, INTC, MSFT, ORCL
Continuation: YELP, AH,
SREV, GME, CDE, ESI, APOL, GLD, ESRX, FAS, V, ADSK, AMGN,
Support Break: FFIV, NVDA, CLF, ANR, NAV
47 of 100 NDX
stocks closed higher on Tuesday…
Leading NDX
100 stocks included: WCRX, BIDU, APOL, VRTX, LINTA, YHOO, KLAC, AAPL, BMC, EXPE
Lagging NDX stocks included: NFLX, NVDA, FSLR, FFIV, MNST, WYNN, EA, MU, PCAR, AVGO
Leading stocks > +2% on Tuesday included: SINA, SWI, ZAGG, INFA, RVBD, HLF, CROX, CDE, GRPN
Lagging stocks < -2.0% included: ANR, TSL, CLF, LDK, AKS, X, ATI, ANF, NTES, TIF, MOS
Stocks to Watch on Wednesday…
Holding Above 30 DMA = 38
WDC, UCO, TPX,
GS, RVBD, SWI, CROX, CRUS, SWKS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF,
BAC, CDE, CRM, SINA, SOHU, F, DECK, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE,
COH, GLW, CSTR, TLT, V
Moving Above 30 DMA = 0
Moving Below 30 DMA = 3
DHR, MOS, SMH
Staying Below 30 DMA
TBT, CIEN, JNPR, SLB, VECO, AKS, IBM, SWK, ATI, TSL, TSLA, X, ANR, GES, VMW, DE, HLF,
A, CHL, NTES, GRPN, CLF, DLR, ZAGG, FAZ, CMG, ESI, UAL, FB, LDK, MCP
Thirteen Week Intermediate Term Market Trend: Up
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