Five of nine sectors
moved higher and two were unchanged on Monday…XLV, XLI, XLE and XLF were the strongest sectors.
Breadth weakened slightly on Monday as decliners led advancers …1.09 to 1 on the NYSE and 1.16 to 1 on the NASDAQ…
Breadth weakened slightly on Monday as decliners led advancers …1.09 to 1 on the NYSE and 1.16 to 1 on the NASDAQ…
SPY up 10 cents at 138.26...volume 97.3 million shares
VIX -1.93 at 16.68…
TNX -0.02 at 16.11…
TNX -0.02 at 16.11…
TLT up 21 cents at 126.19…
XLF up 2 cents at 15.52…volume 33.7 million shares
XLF up 2 cents at 15.52…volume 33.7 million shares
AAPL down -4.23
at 542.83…volume 18.4 million shares …
FB up 86 cents at`20.07…volume 67.3 million shares…
___________________
Technical
Commentary:
The Euro traded
in a range and closed unchanged
at 1.2708 above its late June resistance at 1.2693. TNX, interest rates were slightly
lower and TLT, bonds moved slightly higher.
FB gained +4.48% on increased volume.
XHB and
individual housing stocks like TOL, LEN PHM were weak on Monday and represent bearish
trade setups.
XLF was up 2 cents.
The SPY opened higher and formed an inside day
before closing up 10 cents.
The VIX moved significantly lower before closing slightly higher and did confirm the SPY move up.
ES moved higher
overnight, drifted lower before closing at 1,378. NQ formed a doji and closed at 2,581.
The Market Forecast Green Line is pointed
down forming a potential bullish divergence.
____________________
Chart Targets:
SPY = 140.67 short-term resistance
ES = 1,397, 1,430 short-term resistance
ES = 1,397, 1,430 short-term resistance
EUR/USD = 1.2876, 1.3020 short-term resistance
Short-term support at
1.2693, 1.2638 = Euro
1.2693, 1.2638 = Euro
137.55, 137.07
= SPY
78.47, 76.89 =
SPXL
1,380, 1,368 = ES
2,583, 2,550 = NQ
1,380, 1,368 = ES
2,583, 2,550 = NQ
Setups:
Bull Flag: VMED, CTRP, NFLX, ISRG, URI, LRCX, SCCO, SMH, MCO, WHR, AOL, THC, HCA, QCOM, DDS, TXN, WYNN, CERN, EXPD, EXPE, CHRW, SBUX, RCL, CHL, V, BAC, F, PCAR, LINTA, SHLD, LLTC, CREE, TMO, JOE, ROVI, VAR, AAN, TER, ISIL, INGR, AVY, WHR, VMW, WDC, R, DV, CIEN, JDSU, HNT, AGQ, BTU, C
Bull Flag: VMED, CTRP, NFLX, ISRG, URI, LRCX, SCCO, SMH, MCO, WHR, AOL, THC, HCA, QCOM, DDS, TXN, WYNN, CERN, EXPD, EXPE, CHRW, SBUX, RCL, CHL, V, BAC, F, PCAR, LINTA, SHLD, LLTC, CREE, TMO, JOE, ROVI, VAR, AAN, TER, ISIL, INGR, AVY, WHR, VMW, WDC, R, DV, CIEN, JDSU, HNT, AGQ, BTU, C
Potential MACD Divergence: GOLD
MACD Divergence: SPY, DIA, QQQ, GOOG, CTSH
Moves:
Gap Up: TIE,
JEF, GILD, CELG, CIM, DNDN, PCP
Gap Down:
Bounce: LDK, SHW, ATI, FB, GMCR,
VRSN, LNKD, RIMM, KLAC, TSLA, CROX, YHOO, ALXN, PCLN, KRO, PPO, TRIP, RIMM,
BRKR
____________________
44 of 100 NDX
stocks closed higher on Monday…
Leading NDX 100 stocks included: GILD,
CELG, GMCR, VRSN, RIMM, KLAC, APOL, YHOO, ALXN, PCLN
Lagging NDX stocks included: STX, GOLD, ESRX, NVDA, VRTX, MSFT, FFIV, CERN, NTAP, SNDK
Leading stocks > +2% on Monday included: LDK, ATI, FB, LNKD, TSLA, CROX, X
Lagging stocks < -2.0% included: MCP, YELP, CDE, ZAGG, GRPN, TPX
Stocks to
Watch on Tuesday…
Holding Above 30 DMA = 26
VMED, LINTA, SHLD, ISRG, LRCX, YHOO, MYL, ORLY, PCAR, TXN, CERN, CHRW, EXPD, EXPE, MXIM, NFLX, RIMM, GMCR, LLTC, XRAY, PCLN, SBUX, XLNX, QCOM, HSIC, SRCL
VMED, LINTA, SHLD, ISRG, LRCX, YHOO, MYL, ORLY, PCAR, TXN, CERN, CHRW, EXPD, EXPE, MXIM, NFLX, RIMM, GMCR, LLTC, XRAY, PCLN, SBUX, XLNX, QCOM, HSIC, SRCL
Moving Above
30 DMA = 4
EA, GILD, KLAC, SIRI
Moving Below 30 DMA = 2
FLEX, STX
Staying Below 30 DMA
WYNN, ADBE, AVGO, CMCSA, INTU,
MAT, MU, NWSA, SPLS, SYMC, ADSK, AKAM, AMAT, AMGN, ATVI, COST, EBAY, FISV,
GOLD, LIFE, MCHP, MSFT, NVDA, ORCL, PAYX, PNRA, SNDK, WFM, FOSL, ADP, FAST,
INTC, BIDU, EXPD, CTSH,
PCAR, SIAL, VIAB, ALXN, CELG, ESRX, MNST, TXN, VRSN, BIIB, GOOG, MYL, CHKP, APOL, INFY,
ORLY, VRTX, AMZN, BMC, FFIV, GRMN, VOD, WCRX, DLTR, DTV, NUAN, AAPL, BRCM, CA,
NTAP, CTXS, SYMC, CSCO, ALTR, BBBY, KLAC, ROST, DELL, MRVL, KRFT
Twelve Week
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Down
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