Three of nine sectors moved higher on
Wednesday…XLU, XLV and XLB were
the strongest sectors…XLY was the
weakest sector.
Breadth strengthened…decliners
still led advancers…2.32 to 1 on the NYSE and 2.03 to 1 on the NASDAQ…
Wednesday
– strengthened, decliners led
Tuesday – weakened,
decliners led
Monday - mixed
Friday – mixed
Thursday – strengthened,
advancers led
SPY
down .55…volume 84.7 million shares
VIX
up .26…at 12.98…
TNX
down .42 at 26.00…
TLT
up .79 at 106.80...
XLF
down .14 at 20.44…volume 38.6 million shares
AAPL
down .27 at 464.98…volume
10.6 million shares
FB
up .32 at
38.87…volume
68.7 million shares
Technical Commentary:
SPY – 0.32%, DIA – 0.20%, QQQ – 0.18%, IWM – 0.71%. QQQ formed a hammer, SPY formed a dragonfly doji, DIA formed a white
spinning top and IWM formed a red spinning top. All four indexes are in a bull flag price
pattern. Numerous stocks are also in a
bull flag pattern. See Bull Flag Setups below.
After a second day in a bull flag
pull back, indexes found buyers and many charts formed bullish candles.
The NDX -3.51, -0.11% led the
broad indexes. AMZN, GOOG and MDLZ weighed on the NDX while
AMGN, MSFT, FOXA and FB helped lift the index from its intra-day
lows.
On Wednesday SUNE, FSLR, CHRW,
CAR and Z gapped down after earnings. In after-hours trading GRPN and
TSLA jumped while GMCR and SCTY dropped.
Earnings announcements continue as the fifth week 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
Tuesday – ADM, CAR, CHRW, DIS,
DISH, EXPD, FSLR, FOSL, LINTA, LMCA, MGM, Z
Wednesday – AGU, BOFI, GMCR, GRPN, SCTY, SUNE, TSLA, TWX
Thursday – AAP, FWLT, MCP, MNST,
NVDA, RAX, SGMS, SSYS, TMUS,
Friday – JRCC
Q2 Earnings Reactions
Positive Reactions – FOSL, DSW, WPO, CNK, KORS, SATS, MGM, EAT, VIAB, YOKU, AIG, CTRX, CHK, COP, LNKD, MELI,
MYL, NUS, ZAGG, CMCSA, CTRP, GRMN, HES, MA, MCHP, SODA, YELP, QCOR,
FISV, BWLD, MTW, VRTX, WYNN, SWK, SBUX, ALK, AMZN, CELG, CB, CLF, GILD,
IP, MXIM, RCL, HSY, UA, UAL, V, FB, BIDU, TRIP, COG, CTXS, ETFC, FFIV,
AKAM, AAPL, EA, VMW, DAL, LCC, 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 – ANR, CVX, CME, XOM, K, DTV, RVBD, X, COH, DISCA, ESRX, SOHU, DLR,
CERN, CRUS, DECK, DNKN, EXPE, KLAC, POT, PCP, SWI, TPX, EQIX, ABC, CROX,
ANGI, ATI, CAT, WDC, PNRA, STX, 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: BIDU, NTAP, SYMC, CIEN,
Diagonal Breakout:
Bull
Flag: AAPL, AKAM, AMZN, ATVI, BBBY, CELG, CMCSA, FAST, GILD, GRMN, NVDA, QCOM,
ROST, SBUX, TSLA, TXN, XLNX, ALK, ATI, CLF, CMG, CNX, CREE, CRM, DNKN, F, GLW,
GME, KKD, LNKD, MFRM, P, PWRD, RCL, SINA, SPY, STI, WLT, ELP
Potential Bullish Divergence:
Gap Up: TSLA, GRPN
Gap Down: GMCR, SCTY
Bear Flag:
At Support: ADBE, AMAT, INTC, STX, SOHU, WLT,
Moves
New Highs: MYL,
Gap Up:
Gap Down: SUNE, FSLR, CHRW, CAR, BAC, FAS, FIVE, GS, UNG,
H&D Breakout: AMGN,
Breakout Test:
Bounce: MSFT, TLT,
MACD Divergence Bounce:
Bear Flag:
Support Break: SHLD, C, DDD, SCSS, SSYS,
______________________
28 of 100 Leading NDX stocks closed higher on Wednesday and one was unchanged.
Leading NDX 100 stocks included: AMGN, FOXA, EQIX, MSFT, DTV,
AVGO, VRTX, FB, INTU, VIAB, MYL, CELG
Lagging NDX stocks included:
TSLA, CHRW, FOSL, KRFT, FAST, MU, LINTA
Leading stocks > +2% on Wednesday included: CIEN, JDSU ESI, AKS
Lagging stocks < -2.0% included: TSL,
LDK, TSLA, BBRY, GES, NFLX, NTE, SOHU, SWKS, GMCR, UCO, ZAGG, ANR
Stocks to Watch on Thursday
Holding Above 30 DMA= 71
TSLA, SPLS, CSCO, AMZN, DLTR, INTU,
BBBY, MCHP, PCLN, SRCL, ALTR, CA, ORLY, ROST, VOD, VIAB, FB, LBTYA, LMCA, CMCSA, HSIC,
VRSK, ADP, ALXN, CHKP, CTSH, NTAP, SYMC, WFM, NFLX, BMC, CELG, ESRX, FISV,
LLTC, XLNX, ADI, ATVI, COST, CTXS, EXPD,
GILD, LIFE, MYL, PAYX, XRAY, TXN, SIAL, AKAM, GRMN, KLAC, YHOO, ADSK, BIDU,
FFIV, MDLZ, CTRX, QCOM, AAPL, FAST,
SBUX, MXIM, WYNN, NVDA, MNST, FOXA, NUAN, DISCA, DELL, MU, FOSL
Moving Above 30 DMA = 0
Moving Below 30 DMA = 5
ADBE, AMAT, AMZN, BIIB, CERN, CHRW, EBAY, PCAR, KRFT
Staying Below 30 DMA
GOLD, GOOG, LINTA, SHLD,
REGN, WDC, ADSK, DTV, SBAC, EXPE, VRTX, SNDK, EQIX, STX, AVGO, MSFT, BRCM, MAT,
ISRG, INTC
Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
1 comment:
Dave:
Thank you for this blog and all your efforts.
Robert
CANI_212
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