All nine sectors moved higher on Monday…XLY, XLP and XLF were the strongest sectors …XLV was the weakest
sector….
Breadth strengthened… advancers led
decliners…2.21
to 1 on the NYSE and 1.47 to 1 on the NASDAQ…
Monday – strengthened, advancers led
Friday – weakened, decliners led
Thursday – strengthened – advancers led
Wednesday – weakened – decliners led
Tuesday – strengthened – decliners led
SPY up 1.05 at 156.21...volume 86.3 million shares…
VIX down .73 at 13.19…
TNX up .38 at 17.32…
TNX up .38 at 17.32…
TLT down .94 at 121.88…
XLF up .18 at 18.21 volume 41.8 million shares
XLF up .18 at 18.21 volume 41.8 million shares
AAPL up 3.01 at 426.21…volume 10.7 million shares…
FB down 54 cents at`26.85… volume 27.2 million
shares…
Technical Commentary:
IWM +0.83%, SPY +0.68%,
QQQ + 0.53%, DIA +0.44%. Even though SPY volume was lower than average
with 86 million, it did bounce ending with a white candle and moving away from
its low of Friday. Chart Signals continues to be short-term
neutral on the SPY until a break of support or resistance levels of the
past three weeks.
AAPL up 3.01 on lower volume of 10.7 million having
a small bounce with a potential positive divergence to its previous March 4 low
with a possible double bottom forming, closing above the $425 mark with a white
candle. FB was down 54 cents on lower than average volume of 27 million. FB
gave a C pattern entry on
Thursday last week.
AMD lead the tech stocks +.30 at +13% with a
diagonal breakout and ending the day with a large white candle.
AA reported earnings after the close today
which is the unofficial start of earnings season. AA beat the analyst estimates with its
profits rising 59%.
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 Market
Forecast Green Line is in the
upper zone.
____________________
Setups
Breakout: CHRW,
MNST, NWSA, SBAC, VIAB, CMG, DLR, SLB
Diagonal Breakout: DE,
EXPE, FOSL, SNDK, FCX
Bull Flag: ADBE, ALXN, AMGN, BMC, MOS, CELG, DLTR, GILD,
NUAN, PAYX, PCLN, ROST, SHLD, VRTX, BBRY, HUM, VRSN
Potential Bullish
Divergence: AKS, ANR, CRUS,
Gap Down:
Bear Flag:
Break of Support:
Moves
Highlights:
Gap Up: TSL
Gap Down:
Breakout: CHRW, MNST, NWSA, SBAC, VIAB, CMG, DLR, SLB
Bounce: ADI, ADP, ADSK, AKAM, ALTR, AMAT, AMZN, ATVI,
AVGO, BBBY, BRCM, CERN, COST, CTSH, DTV, FAST, FISV, HSIC, KLAC, LINTA, LLTC,
MAT, MCHP, MXIM, ORCL, QCOM, SIRI, TXN, VRSX, WYNN, XLNX, XRAY, ATI, BAC, C,
CIEN, CRM, DHR, F, FAS, JDSU, JNPR, LVS, RCL, SMH, STI, SWKS, TBT, TPX, UAL, V
MACD Divergence
Bounce: CCL, EXPD
Bear Flag:
Support Break:
____________________
77 of 100 NDX stocks
closed higher and two was unchanged… on Monday
Leading NDX 100 stocks included: MNST, WYNN,
VIAB, TXN, NWSA, FAST, BBBY, SPLS, VRSK, LINTA, REGN, SHLD, ATVI, SNDK
Lagging NDX stocks included: FB, BMC, CTXS, CA,
NUAN, GOOG, ALXN, VRTX, MYL, GOLD, INTU, FFIV, MSFT, GILD
Leading stocks> +2% on Monday included: TSL, LVS, CIEN, GMCR, CMG, FAS, LDK, F, UAL, DLR, JDSU, TPX, STI, MCP,
BAC
Lagging stocks < -2.0% included: FAZ,
YELP
Stocks to Watch on Tuesday…
Holding Above 30 DMA = 50
VMED,
NWSA, SNDK, STRZA, ADP, DELL, SYMC, GILD, HSIC, CERN, BIIB, MAT, PAYX, PRGO,
YHOO, DLTR, AMGN, MU, DISCA, SBAC, ADBE, CELG, FISV, MSFT, SRCL, VRTX, MDLZ,
LBTYZ, VIAB, REGN, SBUX, BMC, VOD, ALXN, BBBY, SHLD, DTV, LIFE, STX, COST,
CMCSA, NUAN, ROST, ATVI, CHRW, WDC, EBAY, MNST, FB, EQIX
Moving Above 30 DMA = 5
ORLY, SPLS, WYNN, TXN, VRSK
Moving Below 30 DMA = 0
Staying Below 30 DMA
CACO,
NTAP, PCLN, QCOM, WYNN, ADSK, AVGO, ESRX, GOOG, INTC, INTU, PCAR, TXN, CTRX,
GILD, MXIM, XRAY, ALTR, AMAT, AMZN, BRCM, CA, LLTC, MCHP, NVDA, SIAL, WFM,
XLNX, ADI, AAPL, LINTA, FAST, MYL, ORCL, CTSH, CTXS, EXPE, FOSL, SIRI, CHKP,
KLAC, ISRG, FFIV, GRMN, EXPD, AKAM, BIDU
Twenty Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Neutral
No comments:
Post a Comment