Monday, April 15, 2013

China GDP Below Expectations, Gold, Commodities, Asian Stocks Lead U.S. Lower...


All nine sectors moved lower on Monday…XLU, XLP and XLK were the strongest sectors…XLE was the weakest sector

Breadth weakened…decliners led advancers 7.19 to 1 on the NYSE and 7.88 to 1 on the NASDAQ…

Monday – weakened, decliner led
Friday – weakened, decliners led
Thursday – weakened, mixed
Wednesday – strengthened, advancers led
Tuesday – weakened, mixed


SPY down 3.68 at 155.12volume 217.2 million shares
VIX up 5.21 at 17.27
TNX down .19 at 17.02
TLT up 1.06 at 122.99
XLF down 39cents at 18.08volume 71.7 million shares

AAPL down 9.95 at 419.85volume 11.3 million shares
FB down 88 cents at 26.52volume 30.2 million shares


Technical Commentary:

DIA – 1.76 %, QQQ -1.97%, SPY -2.32% and IWM -3.77%...SPY, DIA and QQQ are now in a two-day pullback bull flag pattern.  IWM closed just below horizontal support.  DIA is above its 30 DMA while SPY, QQQ and IWM closed below.  The short-term trend is down.

AAPL moved down -9.95 on 11.3 million shares below its 30 DMA and back at its recent 420 support area for the third time in six weeks.  AAPL is a potential break of support setup.  FB was a bear flag entry on volume of 30.2 million shares confirming Friday’s bearish engulfing pattern.

RALY +1.63%, +0.29, a cloud-based software applications company on Monday stayed above its IPO opening price on Friday.


Key Earnings this week:
MondayC, LLTC
Tuesday – KO, CSX, GS, INTC, JNJ, USB, URI, YHOO
WednesdayAXP, BAC, EBAY, MAT, SNDK
Thursday – AMD, CMG, FCX, GOOG, ISRG, KEY, LDK, MSFT, MS, BTU, PEP, PM, UNP, UNH, VZ
Friday – BHI, GE, KMB, MCD, STT, STI, SLB, UA

Trade what you see on the chart of your position.  The intermediate term trend is up with a short-term pullback.  Traders should lock in profits when targets are reached.  As always look for re-entry according to your rules.


The Market Forecast Green Line is in the upper zone.

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Setups
H Breakout:  BIDU, GRPN, LNKD, CSCO, GRMN, SBUX, TXN, WFM, CREE, RCL

Diagonal Breakout: COST, CMCSA, LVS, GOOG, NTAP, FB, Z, GMCR, SYMC, AMZN, BRCM, COST, DELL, XLNX, SWI

Bull Flag:  ADBE,  AMAT,  CELG,  INTC, MAT, MSFT, MU,  NTAP, NUAN, NVDA, ORCL, PCLN, QCOM, ROST, SBUX,  SNDK, WDC, WYNN, YHOO, AMGN, BBBY, GILD, MNST, SPLK, FSLR, SSYS, TSLA, UNG, YELP, FSLR, NTES, AKAM, CMG, ATVI, INTC, MSFT, ORCL, EBAY, SPY, FAS, SIRI

Potential Bullish Divergence:  ESRX, FAST

Gap Up:

Gap Down:

Bear Flag:

Break of Support:  AAPL, AKAM, SHLD, ATVI, BRCM, CMCSA, CTSH, DTV, GOOG, MYL, SYMC, FAS, FFIV, FIVE, GMCR, NTES, TPX, UAL, ZION


Moves
New Highs: 

Gap Up:  LIFE

Gap Down:  GOLD,

Breakout:

Bounce:  C, CMG, TLT

MACD Divergence Bounce:

Bear Flag:  MYL, FFIV, GOOG, FB,

Support Break:  ADSK, ESRX, FAST, STX, ALK, ATI,

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Only 1 of 100 NDX stocks closed higher on Monday…


Leading NDX 100 stocks included: LIFE

Lagging NDX stocks included:  GOLD, SHLD, EXPE, MU, PCAR, ADSK, PCLN, BIIB, FOSL, ALXN

Leading stocks > +2% on Monday included:  FAZ

Lagging stocks < -2.0% included:  ARN, CDE, FCX, CLF, LDK, MCP, TSL, FAX, UCO, ATI, LNKD, CROX, SLB, GMCR, JDSU, SINA, X, AKS, HLF, URE, LVS, F, SSYS, ANR, YELP

Stocks to Watch on Tuesday
Holding Above 30 DMA = 45
VMED, SNDK, STRZA, ADP, GILD, BIIB, MAT, PAYX, YHOO, AMGN, MU, DISCA, SBAC, ADBE, CELG, MSFT, SRCL, VRTX, MDLZ, LBTYA, VIAB, REGN, SBUX, VOD, ALXN, BBBY, DTV, LIFE, CMCSA, NUAN, ROST, WDC, EBAY, MNST, WYNN, TXN, NVDA, CRTX, AMZN, BIDU, PCLN, WFM, DLTR, ISRG, NTAP

Moving Above 30 DMA = 0

Moving Below 30 DMA = 26
AKAM, AMAT, ATVI, BMC, CERN, CHRW, COST, CSCO, EXPE, FISV, GRMN, HSIC, INTC, KLAC, MXIM, NWSA, PCAR, QCOM, SHLD, SPLS, STX, XRAY, PRGO, FB, EQIX, VRSK

Staying Below 30 DMA
AVGO, CTSH, MCHP, ORLY, SIRI, ADSK, BRCM, DELL, SYMC, XLNX, FAST, GOLD, ESRX, GOOG, INTU, ALTR, CA, LLTC, SIAL, ADI, AAPL, LINTA, MYL, ORCL, CTXS, FOSL, CHKP, FFIV, EXPD

Twenty One Week Intermediate Term Market Trend: Up
Short Term Market Trend: Down

2 comments:

Anonymous said...

Such great information Dave. Thanks. We all appreciate it.

Vanessa said...

This is cool!