Only one of nine sectors moved higher on
Tuesday… XLK, XLP and XLF were
the strongest sectors…XLB was the
weakest sector.
Breadth weakened…advancers
led decliners…1.86 to 1 on the NYSE and 1.22 to 1 on the NASDAQ…
Tuesday
– weakened, decliners led
Monday – strengthened,
advancers led
Friday – weakened,
advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened
slightly, advancers led
SPY
down .63…volume 88.7 million shares
VIX
up .63 at 14.42…
TNX
down .24 at 25.32…
TLT
up .37 at 108.66...
XLF
down .08 at 20.36…volume 36.2 million shares
AAPL
up2.76 at 430.19…volume 7.7 million shares
FB
up .04 at 26.32…volume 30.8 million shares
Technical Commentary:
IWM – 0.50%, SPY – 0.37%, DIA – 0.22%, QQQ
- 0.13%.
The SPY and SPX formed a moderate
bearish engulfing pattern at horizontal resistance closing just -0.37% lower on
Tuesday after KO reported a drop in quarterly earnings. JNJ gapped higher and closed unchanged
after beating estimates. The VIX rose
confirming the pullback in the SPX.
TSLA -14.31% collapsed on a heavy 32.4 million shares the
day after it joined the NDX following comments from a GS analyst. Traders who moved their stop to below Monday’s
close or bought puts Tuesday did just fine.
RAX ANGI, CNX and RCL bounced higher while XONE, SCTY, SSYS, F, DDD, UAL, LNKD, FSLR and
JCP dropped.
The Euro rose, interest rates dropped slightly as bonds
drifted higher. Gold and silver were moderately higher.
Earnings season typically leads to big moves up and down in
individual stocks while the
broad index has a tendency to trade in a moderate range. Announcements increase beginning with Tuesday’s
trading session.
Earnings of Interest
Monday – C
Tuesday – KO, CSX, GS, JNJ, MOS,
URI, YHOO
Wednesday – AXP, BAC, EBAY, INTC, IBM, MAT, SNDK, SCSS,
STLD, USB, XLNX
Thursday – AMD, CHKP, CMG, GOOG,
ISRG, KEY, MSFT, MS, OSTK PM, SWKS, UNP, UNH
Friday – BHI, GE, HON, SLB,
STI, WHR
After Release Today
KO, GS, MOS – closed lower
JNJ – closed flat
CSX, YHOO – up in
after-hours
URI – lower in
after-hours
Chart Signals Strategy Guidelines
When the market
is trending up Chart Signals looks
for support bounce and resistance breakout entries.
When the market
is trending down Chart signals looks
for resistance pull back and support break entries.
When the market
is sideways in consolidation Chart Signals
will look for support bounce, diagonal breakouts and pull backs
at resistance where price action stays between support and resistance.
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.
The Market Forecast Green Line is
in the Upper Zone.
____________________
Setups
H Breakout: GRMN, BAC, C, ESI, FIVE, GS, PWRD,
Diagonal Breakout: WYNN, CNX, GLD, LVS, SINA, TLT, UAL, UNG,
Bull Flag: ADBE, AKAM, ATVI, BBBY, CMCSA, CTSH, EBAY, ESRX, MAT,
ROST, ANR, CRM, DDD, GRPN, MFRM, SOHU, STI, SWI, TBT, TPX, XONE,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: DELL,
Moves
New Highs: MSFT,
NFLX, TXN, XLNX, GME,
Gap Up: BIDU,
Gap Down: F,
H&D Breakout:
Breakout Test:
Bounce:
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
39 of 100 Leading NDX stocks closed higher on Tuesday.
Leading NDX 100 stocks included:
GOLD, NWSA, BIDU, MU, AVGO, INTC, LLTC, BRCM
Lagging NDX stocks included:
SNDK, REGN, YHOO, VRTX, ADBE, GRMN, VRSK, FFIV, BBBY, ISRG, PCLN, MDLZ
Leading stocks > +2% on Tuesday included: CDE, SWKS
Lagging stocks < -2.0% included: CROX,
TSLA, SSYS, TSL, MOS, F, UAL, BBRY, LNKD, ZION, ANF, ANR
Stocks to Watch on Wednesday
Holding Above 30 DMA= 89
SPLS, AVGO, CSCO, AMZN, DLTR,
ADBE, INTU, SBUX, BBBY, EXPE, MCHP, PCLN, SRCL, VRTX, ALTR, CA, LINTA, MAT, MNST, ORLY,
PCAR, PCLN, ROST, STX, VOD, VIAB, FB, LBTYA, KRFT, LMCA, CMCSA, GOOG, HSIC,
DISCA, VRSK, ADP, ALXN, CHKP, CTSH, DTV, EBAY, FOSL, NTAP, SYMC, WFM, WDC,
NFLX, BMC, CELG, ESRX, FISV, LLTC, XLNX, ADI, ATVI, BIIB, CHRW, COST, CTXS,
EXPD, GILD, LIFE, MYL, NUAN, PAYX, XRAY, TXN, SIAL, SIRI, AKAM, AMAT, GRMN,
KLAC, YHOO, AMGN, MSFT, NVDA, EQIX, REGN, SBAC, AAPL, ADSK, BIDU, BRCM, CERN,
FFIV, MXIM, MDLZ, WYNN
Moving Above 30 DMA = 4
FAST, GOLD, MU, QCOM
Moving Below 30 DMA = 1
SNDK
Staying Below 30 DMA
DELL, SHLD, ISRG, INTC, CTRX, ORCL
NWSA
Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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