All nine sectors moved higher on Tuesday…XLF, XLE, and XLB were
the strongest sectors…XLK was the
weakest sector.
Breadth strengthened…advancers
led decliners 2.04 to 1 on
the NYSE and 2.37
to 1 on the NASDAQ…
Tuesday
– strengthened, advancers led
Monday – weakened, decliners
led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
Wednesday – weakened,
advancers led
SPY
up 1.69 at 165.23…volume 118.9 million shares
VIX
up .22 at 12.77…
TNX
up .29 at 19.52…
TLT
down 1.28 at 116.56...
XLF
up .33 at 19.64…volume 34.1 million shares
AAPL
down 10.88 at 443.86…volume 15.9 million shares
FB
up .25 at 27.07…volume 24.9 million shares
Technical Commentary:
IWM + 1.28%, SPY + 1.03%, DIA + 0.84% and
QQQ + 0.52%.
A day when some thought stocks may
pull back each of the four broad index ETFs made a new high close. The financial sector XLF broke out to a
new high while the energy sector XLE and basic materials sector XLB
had a bull flag bounce.
QQQ reached
its S&R measuring price target of 73.46.
IWM reached its 161 Fib
breakout target of 97.90.
SPY closed 64
cents below its S&R measuring price target of 165.87.
DIA closed 67
cents below its S&R measuring price target of 152.80.
QQQ was trailed
the other ETFs on Tuesday lagging due to weakness in AAPL -10.88 which continues
to form a bull flag pattern following its 80 point rise from April 19 to May 7.
ESI, APOL, GRPN, P, TRIP, BBY, LNKD and MNST each had a monster move on Tuesday. TSLA formed a dark cloud cover
after hitting a new high at 97. TSLA
has risen 40 points over the past four trading sessions.
The Euro pulled back to its
1.2900 support area and the dollar rose.
TNX interest rates rose again notwithstanding the strength in the
dollar and TLT bonds fell.
It’s time to move stops up to protect profits as traders stay with the trend.
Trade what you see on the chart of your position. The intermediate term trend is up with a horizontal resistance breakout setup. Traders should lock in profits when targets
are reached. As always look
for re-entry according to your rules.
Chart Signals Strategy Guidelines
Technical setups for
short-term option trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles, strangles, OTM calls
or puts.
After earnings look for
bullish setups in positive reaction stocks and bearish setups in negative
reaction stocks.
EPS Reaction Summary
EPS Gainers – MCP, WCRX, NVDA, PCLN, GMCR, GRPN, TSLA,
EA, DVA, WFM, CTSH, DTV, LBTYA, AIG, ADP, CBOE, REGN, FB, BZH,
EXPD, GM, MDC, STX, V, YELP, ICE, JRCC, VIAB, CMCSA, DDD, AVP,
HLF, CERN, CVX, DHI, TWC, ANGI, AKAM, ALXN, ALTR, BIIB, COG, CLF,
CROX, DOW, ESI, FFIV, HOG, LRCX, LVS, MO, PHM, RCL, SIAL, XLNX, BA,
BRCM, GLW, HES, DAL, COH, DD, NFLX, ILMN, VECO, LCC, RF, ZION, TRV, LMT,
CAT, CHKP, HAL, HAS, CMG, GOOG, KMB, STI, MSFT, BTU, PEP, UNP, VZ, MAT,
AXP, JNJ, INTC, KO, C, APOL
EPS Losers – DISH, XRAY, ATVI, RAX, MNST, Z, LNKD, TPX, ZAGG, CTRX, GRMN,
MRK, SWI, AMZN, BIDU, CRUS, DECK, EXPE, HSY, KLAC, MXIM, QCOM,
PTEN, ABC, MMM, AMGN, T, JNPR, PNRA, VMW, GE, IBM, ISRG, MCD, MS,
PM, UNH, SNDK, EBAY, BAC, USB, GS, LLTC
Key Earnings this week:
The Market Forecast Green Line is
in the Upper Zone.
____________________
Setups
H Breakout: AMAT, ATVI, FAST, GILD, MAT, MSFT, NVDA, SNDK, WDC,
XLNX, ANGI, STI, UAL,
Diagonal Breakout: FB, MNST, ATI,
Bull Flag: AAPL,
ADBE, BBBY, BIDU, CTSH, ESRX, FFIV, GRMN, INTC, MU, NTAP, ORCL, ROST, TXN, ALK,
CLF, CNX, CREE, GLD, JNPR, TPX, WLT,
Potential Bullish Divergence:
Gap Up:
Gap Down: XONE
Bear Flag:
At Support: NUAN,
Moves
New Highs: AKAM, CELG,
CMCSA, DTV, EBAY, GOOG, PCLN, SBUX, SHLD, WYNN, BAC, C, DDD, FAS, FSLR, GLW, GMCR,
LVS, NFLX, P, SPLK, SPY, ZION,
Gap Up: SSYS,
Gap Down:
H&D Breakout: COST, QCOM, SIRI, WFM, CMG, CRM, GRPN, NTES,
RCL,
Bounce: ADSK, SYMC, LNKD, UNG, Z,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
82 of 100 NDX stocks closed higher
on Tuesday…two were unchanged…
Leading NDX 100 stocks included:
MNST, GILD, BIIB, ATVI, MYL, ALXN, CTRX, CHKP, SHLD, EXPE, WDC, MSFT,
SPLS, ORLY
Lagging NDX stocks included:
GOLD, AAPL, ESRX, INTC, NTAP, CTSH, BBBY, MXIM
Leading stocks > +2% on Tuesday included: ESI, GRPN, SSYS, LNKD, FAS, CROX, SOHU,
HLF, GS, NTES, ZAGG, BAC, C, GES, CRM, ZION, CMG, A, ICE, TBT, NFLX
Lagging stocks < -2.0% included: TSL, LDK, TSLA, FAZ, BBRY, CLF
Stocks to Watch on Wednesday
Holding Above 30 DMA= 82
ADP, GILD, BIIB, MAT, PAYX, YHOO,
SBAC, MSFT, SRCL ,REGN, VOD, BBBY, LIFE, ROST, WYNN, DLTR, INTC, DTV, NWSA,
SBUX, VRTX, WFM, COST, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, TXN, BMC,
BRCM, CA, ALXN, ESRX, ORLY, PCAR, XLNX, CERN, CMCSA, AAPL, FOSL, KLAC, LINTA,
MCHP, XRAY, VRSK, CHKP, ORCL, SHLD, VIAB, EQIX, VMED, LBTYA, CELG, EXPD, GRMN,
LLTC, MYL, PCLN, ADI, ADSK, MU, NTAP, SPLS, ALTR, BIDU, HSIC, FISV, SNDK, AVGO,
EBAY, FFIV, MXIM, AMZN, ATVI, CSCO, FAST, QCOM, PRGO
Moving Above 30 DMA = 6
AMGN, EXPE, FB, MDLZ, MNST, SYMC
Moving Below 30 DMA = 1
STRZA
Staying Below 30 DMA
GOLD, ISRG, ADBE, CHRW, DISCA,
CTRX, NUAN, CTSH, DELL, INTU, CTXS
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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