Six of nine sectors moved higher on Tuesday…XLV, XLY, and XLF were
the strongest sectors…XLK was the
weakest sector.
Breadth weakened slightly…advancers
led decliners…1.18 to 1 on the NYSE and 1.06 to 1 on
the NASDAQ…
Tuesday
– weakened, advancers led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
Wednesday – weakened,
advancers led
SPY
up .24 at 167.17…volume 95.7 million shares
VIX
up .35 at 13.37…
TNX
down .21 at 19.44…
TLT
up .92 at 117.84...
XLF
up .05 at 20.04…volume 36.2 million shares
AAPL
down 3.27 at 439.66…volume 16.2 million shares
FB
down .10 at 25.66…volume 26.2 million shares
Technical Commentary:
IWM + 0.02%, QQQ + 0.11%, SPY + 0.14% and
DIA + 0.31%.
The SPY has made its 41st
new high close of 2013 on Tuesday. on 40
of the 95 trading days in 2013. Financial
stocks were led by JPM, WFC and GS.
Solar stocks were sizzling at the open and led the market early before
cooling off. LDK, TSL, SOL, YGE and
FSLR still had big gains on Tuesday.
Bernanke will testify before the
Joint Economic Committee of Congress shortly after the open at 10 a.m. on
Wednesday.
NTAP +1.33 gained in
after-hours trading following earnings after the close.
Many stocks are in bull flag
setups positioning for possible reentry.
See Bull Flag Setups below.
AAPL -3.27 paused on Tuesday
after rising on Monday in a bull flag bounce.
NUAN bounced
off support in a bullish divergence setup.
GILD gained
closing 12 cents above its May 3 high in a horizontal resistance breakout setup. JCP rallied to horizontal resistance. TSLA is in day four of a bull flag
setup.
The Euro moved up 22 pips to
1.2905. TNX interest rates
drifted lower and TLT bonds rallied 91 cents at support.
Continue 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 – AZO, MDT,
CSCO, A, 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:
CRM, GME, P, NTAP, ROST, SHLD,
The Market Forecast Green Line is
in the Upper Zone.
____________________
Setups
H Breakout: ATVI, FAST,
GILD, INTC, ROST, SIRI, STX, CMG, CNX, DDD, GRPN, JCP, LVS, SSYS, UAL, YELP,
Diagonal Breakout:
BBBY, CTSH, DELL, ANR, GLD, TLT,
Bull Flag: AKAM, AMAT, BIDU, CELG, CMCSA, CSCO, DTV,
EBAY, ESRX, GOOG, GRMN, MNST, MU, MYL, NTAP, QCOM, SNDK, TXN, ALK, ANGI, C,
CIEN, CREE, CRM, FIVE, JNPR, NFLX, NTES, P, TSLA, UAL,
Potential Bullish Divergence: GLD
Gap Up:
Gap Down:
Bear Flag:
At Support: ADBE, FB, SYMC,
Moves
New Highs: COST, NVDA,
ORCL, SBUX, WDC, WFM, XLNX, CMG, FAS, FSLR, GS, SPLK, SPY,
Gap Up:
Gap Down: RCL,
H&D Breakout: GS,
MAT, SHLD,
Bounce: YHOO
MACD Divergence Bounce: NUAN
Bear Flag:
Support Break:
______________________
67 of 100 NDX stocks closed higher
on Tuesday…one was unchanged…
Leading NDX 100 stocks included: SHLD, NUAN, CHRW, BIIB, VRTX,
ALXN, ATVI, WDC, AMGN
Lagging NDX stocks included:
INTU, PCLN, EBAY, NTAP, BIDU, REGN, AKAM, AMAT, AAPL
Leading stocks > +2% on Tuesday included: LDK, TSL, VECO, AKS, ESI, DECK, HLF,
GRPN
Lagging stocks < -2.0% included: CDE, FCX, UAL, TSLA, RCL
Stocks to Watch on Wednesday
Holding Above 30 DMA= 79
ADP, GILD, BIIB, MAT, PAYX, YHOO,
SBAC, MSFT, SRCL ,REGN, VOD, 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, AAPL, FOSL, KLAC, LINTA, MCHP, XRAY,
CHKP, ORCL, SHLD, VIAB, EQIX, VMED, LBTYA, CELG, EXPD, GRMN, LLTC, MYL, PCLN,
ADI, MU, NTAP, SPLS, ALTR, BIDU, HSIC, FISV, SNDK, AVGO, EBAY, FFIV, AMZN,
ATVI, CSCO, FAST, QCOM, MNST, DISCA, CTXS
Moving Above 30 DMA = 5
BBBY, CHRW, CMCSA, VRSK, STRZA
Moving Below 30 DMA = 1
PRGO
Staying Below 30 DMA
MDLZ, ADSK, ADBE, AMGN, EXPE,
SYMC, STRZA, MXIM, FB, GOLD, ISRG, CTRX, NUAN, CTSH, DELL, INTU
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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