Three of nine sectors moved higher on Tuesday… XLV, XLE and XLB were
the strongest sectors …XLI was the
weakest sector….
Breadth weakened… decliners led advancers …1.42 to 1 on the NYSE and 1.42 to 1 on the NASDAQ…
Tuesday – weakened, decliners led
Monday – weakened, advancers led
Friday – strengthened, advancers led
Thursday – strengthened, advancers led
Wednesday – weakened, advancers led
SPY down 35 cents at 5.68...volume 105.7 million
shares…
VIX up 0.71 at 12.27
TNX down 0.33 at 20.23…
TNX down 0.33 at 20.23…
TLT up 83 cents at 115.69…
XLF down 10 cents at 18.28 volume 32.7 million shares
XLF down 10 cents at 18.28 volume 32.7 million shares
AAPL down -9.44 at 428.43…volume 16.6 million shares…
FB down 31 cents at`27.83…volume 27.5 million
shares…
Technical Commentary:
The SPY traded lower on Tuesday and began to rally around 2
pm and closed slightly down for the day.
TNX fell and TLT bonds rallied.
Stock futures primary trade rolled on Friday from March H to June M: ESH3 to ESM3
DIA +0.03% moved high while SPY -0.22%, QQQ -0.36% and IWM -0.20% moved lower.
AAPL -9.44 closed
near its low of the day holding at
its short-term support. FB down 31 cents continued
forming a pennant price pattern just below its 30 DMA and is a setup
for a potential C Pattern Entry. On
Friday MS reiterated its overweight rating on FB.
STX +4.83% and WDC +4.12% led the NDX on Tuesday. STX had announced reaching the 2
billion hard disks shipped milestone.
The Euro was down 19 pips and closed at
1.3026 on Tuesday.
Trade what you see on the
chart of your position. The trend is in consolidation 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. Seven of nine
sector ETFs including XLP, XLU, XLV, XLY, XLK, XLF, XLI
are now positive XLB and XLE continued neutral.
The Market
Forecast Green Line is in the
upper reversal zone.
____________________
Setups
Breakout: WHR, STI, MTW, PMCS, JDSU, AVX, SPLK, UNG, ESRX, MON,
MDRX, TSCO, CBOE, CLB, JRCC, BTU
Diagonal Breakout: URI, CRR, ANR, MNST, MCHP, FAST, SINA,
Bull Flag: ICE, CTSH, ORCL, AMGN, MBI,
AL, CRM, YELP, QCOM, STZ,
PM, CREE, ASNA, CIEN, P,
Potential Bullish Divergence: EBAY, HRS, ROST, IPI
Gap Up:
Gap Down:
Bear Flag: DKS, KORS, JCP, ACI, BTU, DNDN, GRMN,
DDS, HSP
Break of Support: GES
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: NAV, HRB, TPX
Gap Down:
RHT, FL
Breakout: STX,
SNDK, GME, LIFE, NBR, WDC, POT, PBI, PRGO, BMC, CSTR,
VECO, HPQ,TXN, ZION,IBM, AIZ, BBRY, DE,
LVS, CNX, CBG, EQIX, SHLD, CHK, MWV, TW, PPO, AVGO, MOS, TRIP, RF, ANGI,
ATVI, STRZA, Z, JPM, NDSN, FIVE, ILMN, ORLY, TPX, CBS, VMI, CTXS, AWAY, LNKD, COG, HES, DECK
Bounce: SLM, BBRY, CLR, AVP, SPWR, CNW, SHLD, NTES, TEX, IM, FTNT, AOL, ADM, PCLN, GNC,
ZNGA, NFLX, HLF, BPOP, FAST, PTEN, XRX, FTI
MACD Divergence Bounce: CORN, SLB, SWKS, FB
Bear Flag: AGU, PTEM, INT, OC, A, DDD,
CLF, WLT, RAX, CCL, CTL,
ULTA, EXPD, MGM
Support Break: AKAM, RCL, MJN, TFM, FFIV
____________________
40 of 100 NDX stocks
closed higher on Tuesday…
Leading NDX 100 stocks included: STX, WDC,
LIFE, BRCM, SNDK, GOLD, CELG, COST, BIIB, AMZN
Lagging NDX stocks included: AKAM, AAPL, SHLD,
CTRX, NTAP, MNST, VRSK, BIDU, FFIV, PCAR
Leading stocks> +2% on Tuesday included: LDK, WDC, CSTR, ESI
Lagging stocks < -2.0% included: YELP,
GES, GRPN, AKS, BBRY, SINA, CRM, CRUS, MCP, UAL, HLF
Stocks to Watch on Wednesday…
Holding Above 30 DMA = 73
VMED, ADI, LLTC, DELL, NWSA, MCHP, 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, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, LINTA, SHLD, COST, WDC, BRCM, DTV, EXPE
VMED, ADI, LLTC, DELL, NWSA, MCHP, 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, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, LINTA, SHLD, COST, WDC, BRCM, DTV, EXPE
Moving Above 30 DMA =2
LIFE, STX
Moving Below 30 DMA =5
AMAT,
CTRX, EQIX, FAST, FOSL
Staying Below 30 DMA
CHKP, MNST,
ROST, KLAC, SPLS, ISRG, EBAY, FFIV, NTAP, GRMN, WYNN, WFM, EXPD, NUAN, AKAM, GOLD, CHRW,
BIDU, FB, AAPL
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
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