Only one of nine sectors moved higher on
Wednesday… XLK, XLV and XYE were
the strongest sectors…XLU was the
weakest sector.
Breadth weakened…decliners
led advancers…3.12 to 1 on the NYSE and 1.49 to 1 on the NASDAQ…
Wednesday
– weakened, decliners led
Tuesday – weakened,
mixed
Monday – strengthened,
advancers led
Friday – weakened, mixed
Thursday – strengthened,
advancers led
SPY
down .62…volume 112.8 million shares
VIX
up .52 at 13.18…
TNX
up .72 at 25.88…
TLT
down 1.38 at 107.52...
XLF
down .15 at 20.64…volume 36.6 million shares
AAPL
up 21.52 at 440.51…volume
21.1 million shares
FB
up .38 at 26.51…volume 81.3 million shares
Technical Commentary:
QQQ + 0.32%, IWM - 0.83%, SPY – 0.37%, DIA – 0.17%.
The broad market SPY pulled back on increased volume as individual stocks VMW, AAPL,
EA, EMC, LLY, MCO soared. After the
close FB, BIDU, TRIP, CTXS and FFIV gapped up following earnings. ATI, CAT,
PNRA, NSC, STX and USNA dropped lower while after the close EQIX,
ABC and CROX were crushed.
Coal stocks dove after WLT announced reduced production
guidance for the current quarter.
Earnings announcements accelerate as the third of earnings season begins on Monday. Chart Signals
is focusing on stocks with
announcements and stocks that have had a positive earnings reactions over the
past two weeks.
This Week Earnings of Interest
Monday – HAL, HAS, KMB, MCD, NFLX,
TXN, ZION
Tuesday – AKS, ALTR, MO, AAPL, DD,
EA, FCX, JNPR, LLTC, NSC, PCAR, PNRA, BTU, RSH, RF, TRV, UPS, UTX, USNA, VLO,
VMW
Wednesday – AKAM, ATI, ABC, ANGI,
BIDU, BA, CA, COG, CAT, CTXS, CROX, DAL, ETFC, LLY, EMC, EQIX, FFIV, FB, LVS,
MCO, ORLY, QCOM, RYL, STX, SAVE, LCC, V, WDC
Thursday – MMM, ALK, ALXN, AMZN, BIIB, BMY, CELG, CERN, CB,
CRUS, CLF, DECK, DOWN, DNKN, EXPE, GILD, IP, ESI, KLAC, MXIM, POT, PCP, RCL,
SWI, TPX, HSY, UA, UAL
Friday – DLR, SWK, WLB
Q2 Earnings Reactions
Positive Reactions – FB, BIDU, TRIP, CTXS, FFIV, AAPL, EA,
VMW, EMC, LLY, MCO, AKS, FCX,
BTU, UTX, HAS, TXN, GE, HON, SLB, STI, WHR, CHKP, CMG, JCI, KEY,
MS, OSTK, SWKS, UNP, UNH, BAC, IBM, SNDK, XLNX, CSX, GS, URI, YHOO, C, WFC
Negative Reactions – EQIX, ABC, CROX, ATI, CAT, PNRA, NSC,
USNA, TRV, MCD, MO, NFLX, ZION, BHI,
AMD, GOOG, ISRG, MSFT, EBAY, INTC, MAT, SCSS, USB, AXP, KO, MOS
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 and is in the upper
zone.
____________________
Setups
H Breakout: ATVI, BIDU, CSCO, FB, FFIV, NUAN, QCOM, TSLA, ESI,
GS, SPLK, UAL,
Diagonal Breakout: ANR,
Bull
Flag: AKAM, AMAT, AMGN, AMZN, BBBY, CELG, CTSH, MYL, ROST, SNDK, WDC, WFM,
WYNN, ANGI, CMG, CREE, FIVE, KKD, LNKD, NFLX, SINA, SOHU, YELP,
Potential Bullish Divergence:
Gap Up: FB, BIDU, TRIP, CTXS, ETFC, FFIV, QCOM, RYL, V
Gap Down: CROX, EQIX,
ANGI, WDC
Bear Flag:
At Support: DELL, FAST, SHLD, YHOO, TLT, VECO,
Moves
New Highs: CIEN, JNPR, PWRD,
Gap Up: VMW, EA, AAPL, F, TBT, EMC, LLY, MCO,
Gap Down: BRCM, PNRA, ATI, MFRM, STX
H&D Breakout: SWI,
Breakout Test:
Bounce: INTC, GME,
MACD Divergence Bounce:
Bear Flag:
Support Break: SCSS,
______________________
27 of 100 Leading NDX stocks closed higher on Wednesday and four were unchanged.
Leading NDX 100 stocks included:
AAPL, BIDU, CHKP, CTXS, FFIV, BBIB, YHOO, FB, GILD, ATVI, ADSK
Lagging NDX stocks included:
BRCM, MU, NFLX, GOLD, ISRG, SPLS, STX, SNDK, MNST, LLTC, FAST
Leading stocks > +2% on Wednesday included: VMW, F, TBT, FAZ
Lagging stocks < -2.0% included: MCP,
ANR, LDK, CDE, URE, FCX, UCO, ATI, CLF, AKS, ESI, FAS, TPX, ZAGG, X, MOS
Stocks to Watch on Thursday
Holding Above 30 DMA= 84
TSLA, SPLS, CSCO, AMZN, DLTR,
ADBE, INTU, BBBY, EXPE, MCHP, PCLN,
SRCL, VRTX, ALTR, CA, FB, FOXA, KRFT, LBTYA, LINTA, LMCA, MNST, ORLY,
PCAR, ROST, VIAB, VOD, CMCSA, DISCA, GOOG, HSIC, VRSK, ADP, ALXN, CHKP, CTSH,
DTV, FOSL, NFLX, NTAP, SYMC, WDC, WFM, BMC, CELG, ESRX, ADI, FISV, LLTC, XLNX,
ATVI, BIIB, CHRW, COST, CTXS, EXPD, GILD, LIFE, MYL, NUAN, PAYX, TXN, XRAY,
SIAL, SIRI, AKAM, AMAT, GRMN, KLAC, YHOO, AMGN, EQIX, REGN, SBAC, ADSK, BIDU,
CERN, FFIV, MDLZ, WYNN, CTRX, SNDK, GOLD, QCOM
Moving Above 30 DMA = 1
AAPL
Moving Below 30 DMA = 4
FAST, MU, SBUX, STX
Staying Below 30 DMA
AVGO, SHLD, EBAY, MSFT, NVDA,
MXIM, BRCM, MAT, DELL, ISRG, INTC
Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
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