Breadth, IWM, XLB, XLE Weak as SPY and DIA Make New High Close...AAPL Inverted Hammer...

Six of nine sectors moved higher on Tuesday…XLV, XLP and XLY were the strongest sectors …XLB was the weakest sector…. 

Breadth strengthened…however decliners still led advancers…1.07 to 1 on the NYSE and 1.25 to 1 on the NASDAQ…

Tuesday – strengthened – decliners led

Monday – weakened, decliners led

Thursday – strengthened, advancers led

Wednesday – weakened, advancers led NYSE

Tuesday – strengthened, advancers led

SPY up 77 cents at 156.82...volume 101.5 million shares…

VIX down .80 at 12.78…
TNX up .21 at 18.61…

TLT down .48 at 117.91…
XLF up 10 cents at 18.23 volume 40 million shares

AAPL up 88 cents at 429.79…volume 18.9 million shares…

FB down 11 cents at`25.42… volume 35.1 million shares…

Technical Commentary:

QQQ +0.79% led DIA +0.63%, SPY +0.49% and IWM -0.62% on Tuesday.  Weakness in IWM, XLB and XLE along with decliners leading in breadth were signs of the narrowness of Tuesday’s rally. 

AAPL up 88 cents formed an inverted hammer after four consecutive down days and again closed below its 30 DMA.  FB down 11 cents held above Monday’s low again closing at the S1 level of its large bullish engulfing candle.  FB is still a setup for a potential C Pattern Entry after a support bounce. 

The Euro was down 21 pips and closed at 1.2822 on Tuesday. 

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 formed a white spinning top as TNX rose and TLT Bonds moved lower while forming a bearish harami candle.

The Market Forecast Green Line is in the upper zone. 

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Setups

Breakout:  SBUX, WDC, MAT, AOL, DDD, CTL, CBG, TXN, P, ANGI, DISH, DISCA, ICE, SPLK, SLM, AKAM, COG, CBS, CIE, CHTR, LNKD,

Diagonal Breakout: NFLX, CLB, MGM, GNC, A, CPRT, DDS,

Bull Flag: SNDK, SHLD, INTU, VIAB, Z, NUS, TEX, MTW, CHK, MWV, CNW, PTEN, NAV, MBI, CIEN, ZION, ZNGA, DWA, PLCM, APOL, NKE, AWAY, MDRX, WPO, PBI, TFM, CRR, DECK, CBI, MU,

Potential Bullish Divergence: JCP, MCP, IPI

Gap Down:  

Bear Flag: CTSH, CTXS, ORCL, CLF, FDS, FFIV, KLAC, RCL, CCL, ULTA, JOY, A, FB

Break of Support:  ANR, KORS, FTNT, DE, CAH, RAX, GRMN, AGU, IPI, BTUWLT,

Moves

Highlights: NFLX, NTES, TPX, CREE, SSYS, ANGI, Z, BBRY

Gap Up:  HTZ, TSLA, EBAY, BIIB, WSM, WAG

Gap Down: DAL, NDAQ, PVH

Breakout:  ALXN, XRX, CMCSA, ADP, ABC, NTES, CELG, MSFT, PRGO, HLF, GNC, HES, ILMN, CERN, ADM, ADBE, CELG, HRS, CRM, CBOE, CMP, CSTR, EBAY, ROST, MON, GILD, LBTYA, FTI, FL, RMD, LVS, HRB, VECO, BBRY, NUAN, TPX, UNG, TRIP, OGE,

 

Bounce: GOOG, DECK, GES, BBRY, IBM, EOG, SBUX

MACD Divergence Bounce:  SINA, CCL, FB, SLB

Bear Flag:

Support Break: BTU, CORN, MCP, EXPD, JDSU, JRCC

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57 of 100 NDX stocks closed higher on Tuesday…

Leading NDX 100 stocks included:  NUAN, GRMN, AMGN, VOD, REGN, ALXN, BIIIB, SBUX, NWSA, EXPE

Lagging NDX stocks included:  GOLD, STRZA, ALTR, AVGO, STX, MXIM, XRAY, CHKP, NVDA, XLNX

Leading stocks> +2% on Tuesday included: MCP, HUM SINA, LDK, TIF, DECK, HLF

Lagging stocks < -2.0% included:  X, GRPN, UAL, ANR, CRUS, CLF, AKS, CDE, NFLX, CIEN, SSYS, CREE, ATI, MOS

Stocks to Watch on Wednesday…

Holding Above 30 DMA = 57
VMED, NWSA, SNDK, STRZA, ADP, DELL, SYMC, GILD, HSIC, CERN, BIIB, MAT, PAYX, PRGO, YHOO, DLTR, AMGN, DISCA, MU, SBAC, ADBE, CELG, FISV, INTU, LBTYA, MDLZ, MSFT, SRCL, VRSK, VRTX, REGN, VIAB, ADSK, SBUX, BMC, PCAR, VOD, ALXN, AVGO, BBBY, SHLD, DTV, LIFE, STX, WYNN, COST, CMCSA, NUAN, ROST, ATVI, CHRW, TXN, INTC, QCOM, WDC, EBAY, ESRX                                                                                      

Moving Above 30 DMA =6

CSCO, CTRX, GOOG, NTAP, ORLY PCLN                                                                                                                    

Moving Below 30 DMA = 4

EQIX, GOLD, MXIM, XRAY

                                                                                                      

Staying Below 30 DMA

ADI, ALTR, AMAT, AMZN, BRCM, CA, LLTC, MCHP, NVDA, SIAL, SPLS, WFM, XLNX, AAPL, LINTA, FAST, MNST, MYL, ORCL, CTSH, CTXS, EXPE, FOSL, SIRI, CHKP, KLAC, ISRG, FFIV, GRMN, EXPD, AKAM, BIDU, FB

Ten Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up