Three of nine sectors moved higher on Tuesday…XLP, XLU and XLV were the strongest sectors …XLE was the weakest
sector….
Breadth strengthened…decliners
led advancers…1.36 to 1 on
the NYSE and 1.35 to 1 on the NASDAQ…
Tuesday – strengthened, decliners led
Monday – weakened, decliner led
Friday – weakened, decliners led
Thursday – strengthened, advancers led
Wednesday – strengthened, advancers led
SPY down 36 cents at 154.61...volume 167.5 million
shares…
VIX up 1.03 at 14.39…
TNX down .48 at 19.08…
TNX down .48 at 19.08…
TLT up 79 cents at 117.43…
XLF down 10 cents at 18.16 volume 65 million shares
XLF down 10 cents at 18.16 volume 65 million shares
AAPL down 1.23 at 454.49…volume 18.8 million shares…
FB up 6 cents at`26.55…volume 25.2 million
shares…
Technical Commentary:
The SPY gapped lower on the open and recovered half of its
loss. TNX fell as TLT bonds moved
higher for the third straight day. The FOMC meeting will conclude on Wednesday
with economic comments to be released at 2 pm ET and a Bernanke press
conference at 2:30 pm.
DIA +0.09%, QQQ -0.19%, SPY -0.23% and IWM -0.42%, and were mixed
and formed black candles closing below their opening price.
AAPL -1.23 pulled back to its 30
DMA and bounced closing up $6 above its low on Tuesday. FB was up
6 cents and confirmed Monday’s
hammer while continuing to form a MACD bullish divergence at support below its 30
DMA. FB is still a setup for
a potential C Pattern Entry after a support bounce.
The Euro was down 92 pips and closed at 1.2865 on Tuesday. The Euro moved
lower as the Cyprus parliament
voted against proposed tax on bank deposits.
Concerns exists of the potential exit for Cyprus from the Euro. Banks in Cyprus are closed until Thursday
leaving for alternate bailout plan.
Trade what you see on the
chart of your position. The trend is up
and traders should lock in profits when targets are
reached. As always look for re-entry according to your rules.
The SPY’s trend
continued higher. Eight of nine sector ETFs
including XLP, XLU, XLV, XLY, XLK, XLF, XLI,
XLE are positive XLB continued neutral. Most sectors are in a bull flag pattern. XLB, XLE, XLF and XLY formed bearish
engulfing patterns.
The Market
Forecast Green Line is in the
upper reversal zone.
____________________
Setups
Breakout: SLM, AL, ANR, MGM, ICE, ADM, AVX, CBOE, CLB, IM, NAV
Diagonal Breakout:
CMCSA, EXPD, FAST, JRCC, DECK, SPWR, HLF, GNC
Bull Flag: AVGO, CTSH, DISCA, DLTR,
GILD, GOOG, INTU, LBTYA, MAT, SBUX, STX, TXN, VIAB, VRTX, WDC, YHOO, MBI, CRM, CIEN, JDSU, ZION, ILMN,
ZNGA, DWA, VMW, NFLX, URI, CSTR, IBM, VECO, BBRY, HRB, PMCS, MON, LNKD, CNP, FTNT,
FTI, SPLK, OGE
Potential Bullish Divergence:
FB, SLB, GES, ROST, CCL, IPI, SINA, RHT
Bear Flag: QCOM, ULTA, EBAY,
CPRT, MJN, DKS, JCP, DDS, HSP
Break of Support: JOY,
A, FL, GRMN, AGU, EXPD, FB, DNDN, HRS, AOL,
IPI, SINA, AKAM, RCL
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: WAG, ABC
Gap Down: CAH, DSW, FDS
Breakout: Z, TPX, COG,
TEX, BTU, CORN, UNG, MTW, CBS, PTEN, CRR, MDRX, WPO, HES, CNW, SNDK, PBI, PRGO, STRZA,
DE, CBG, SHLD, CHK, MWV, MOS, TRIP
Bounce: NTES,
AMGN, NVR, CHTR, ALXN, XRX, MSFT, ANGI, BBRY,
P, AVP
MACD Divergence
Bounce: EBAY
Bear Flag: TFM, KORS,
DDS, RAX, BTU, MCP, CTL
Support Break:
KLAC, DDD, CCL, WLT, CLF, FFIV
____________________
44 of 100 NDX stocks
closed higher on Tuesday…
Leading NDX 100 stocks included: MNST, REGN,
AMGN, EBAY, VOD, LIFE, VRTX, DELL, YHOO, MU
Lagging NDX stocks included: FOSL, EXPE, STRZA,
STX, ATVI, GRMN, EXPD, CTRX, PCLN, NWSA
Leading stocks> +2% on Tuesday included: FSLR, LDK, UNG, GMCR
Lagging stocks < -2.0% included: CLF,
JNPR, ANR, JDSU, RAX, GRPN, ANF, UCO, MCP, SLB, ATI, VMW, X, NFLX, AKS, RCL, GS
Stocks to Watch on Wednesday…
Holding Above 30 DMA = 62
VMED, LLTC, DELL, NWSA, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, FISV, INTU, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, PCLN, REGN, VIAB, ADSK, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, SHLD, COST, WDC, BRCM, DTV, LIFE, STX, SPLS, CHRW, WYNN, AAPL
VMED, LLTC, DELL, NWSA, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, FISV, INTU, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, PCLN, REGN, VIAB, ADSK, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, SHLD, COST, WDC, BRCM, DTV, LIFE, STX, SPLS, CHRW, WYNN, AAPL
Moving Above 30 DMA = 3
COST, LINTA, MNST
Moving Below 30 DMA = 3
CMCSA, INTC, NVDA
Staying Below 30 DMA
ADI, CTSH,
CTXS, EXPE, FOSL, MCHP, PCLN, XRAY, ALTR, AMAT, LLTC, QCOM, AMZN, SIRI,
FAST,CTRX, EQIX, CHKP, ROST, KLAC, ISRG, EBAY,
FFIV, NTAP, GRMN, WFM, EXPD, NUAN,
AKAM, GOLD, BIDU, FB
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend:
Neutral
1 comment:
hanks for posting the ten week and short term market trends. It's very helpful.
Post a Comment