Tuesday, August 27, 2013

Decliners Advance...Stocks Erase Gains In Late Trading...AMGN Up 7.72%...DDD Up 7.14%...JCP Down In After Hours Trading...

One of nine sectors moved higher on Monday…XLV, XLB and XLE were the strongest sectors…XLP was the weakest sector. 
 
Breadth weakened… advancers led decliners…1.42 to 1 on the NYSE and 1.19 to 1 on the NASDAQ…
 
Monday – weakened, decliners led
Friday – weakened, advancers led
Thursday – strengthened – advancers led
Wednesday – weakened, decliners led
Tuesday – strengthened – advancers led
 
 
 
SPY down .62…at 166.00…volume 89.5 million shares
VIX up 1.01…at 14.99…
TNX down .13 at 28.05…
TLT up .52 at 104.81...
XLF down .12 at 19.93…volume 29.9 million shares
 
AAPL up 1.95 at 502.97volume 11.8 million shares
FB up .79 at 41.34volume 94 million shares
 
Technical Commentary:
 
QQQ +0.05%, IWM + 0.01%, SPY- 0.37%, DIA – 0.41%.  
 
Stocks gained on light volume during the day then reversed in late trading when decliners moved ahead of advancers.
 
AMGN gapped up 8.15 or 7.72% breaking through horizontal resistance of early August on 11.5 million shares of volume.
 
DDD also gapped up advancing 3.46 or 7.14% on volume of 10.4 million breaking horizontal resistance of late May and late July.
 
JCP trading lower in after-market trading on higher volume.
 
 
 
Q2 Earnings Reactions
Positive Reactions – ADSK, ROST, GME, JRCC, RAX, SSYS, TMUS, SGMS, FWLT, MNST, GRPN, TSLA, AGU, BOFI, FOSL, ADM, MGM, 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 – P, SHLD, PWRD, CREE, MCP, GMCR, SCTY, SUNE, Z, CAR, CHRW, FSLR, LINTA, 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 is out of the upper zone and pointed down. 
 
____________________
 
Setups
H Breakout: BIDU, TIF, WLT,
 
Diagonal Breakout: TLT,
 
Bull Flag: AAPL, ADSK, GRMN, MSFT, ROST, GME, TBT,
 
Potential Bullish Divergence: 
 
Gap Up: 
 
Gap Down: 
 
Bear Flag: ADBE, BBBY, COST, EBAY, ESRX, FAST, INTC, MAT, MYL, SBUX, SIRI, SNDK, STX, WFM, ALK, ATI, BAC, C, CIEN, DNKN, F, FAS, FSLR, GLW, RAX, SPLK, SPY, TPX,
 
At Support: DTV, CRM, UAL,
 
Moves
New Highs: FB, NFLX, TSLA, WYNN, GMCR, KKD, LNKD, NTES,
 
Gap Up: AMGN, DDD, SSYS,
 
Gap Down:  
 
H&D Breakout:
 
Breakout Test:   
 
Bounce:  
 
MACD Divergence Bounce:
 
Bear Flag:  
 
Support Break:
 
______________________
 
 
38 of 100 NDX stocks closed higher on Monday.
 
 
Leading NDX 100 stocks included: AMGN, CHRW, REGN, CELG, AVGO, FB, ALXN, NFLX, DLTR, TSLA
 
Lagging NDX stocks included:  EXPE, ADSK, MDLZ, MSFT, NUAN, CTRX, CHKP, FFIV, KRFT, AMZN
 
Leading stocks > +2% on Monday included: DDD, PWRD, GRPN, SSYS, XONE, LDK
 
Lagging stocks < -2.0% included: ANR, V, SINA
 
Stocks to Watch on Tuesday
Holding Above 30 DMA= 38
TSLA, GRMN, PCLN, VIAB, FB, NTAP, SYMC, NFLX, BMC, FISV, CTXS, MYL, AKAM, BIDU, CTRX, QCOM, AAPL, WYNN, FOXA, DELL, MU, FOSL, GOLD, NVDA, ROST, CTSH, ADSK, CA, CHKP, DLTR, EXPD, GILD, SBUX, TXN, INTU, MSFT, ORLY, VRSK
 
Moving Above 30 DMA = 5
AMGN, AVGO, CELG, CHRW, ISRG
 
Moving Below 30 DMA = 6
ADP, FFIV, NUAN, VOD, YHOO, MDLZ
       
Staying Below 30 DMA
ATVI, WDC, SHLD, PAYX, SPLS, SIAL, HSIC, ALTR, ALXN, CSCO, EBAY, KLAC, LIFE, LLTC, MCHP, MXIM, SIRI, SRCL, XLNX, XRAY, ADI, LMCA, BBBY, CMCSA, ESRX, PCAR, WFM, DISCA, MNST, FAST, ADBE, COST, LBTYA, AMAT, AMZN, BIIB, CERN, KRFT, GOOG, LINTA, REGN, DTV, SBAC, EXPE, VRTX, SNDK, EQIX, STX, BRCM, MAT, INTC
 
Seven-Week Intermediate Term Market Trend: Neutral
5-Day Short Term Market Trend: Neutral

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