All nine sectors moved lower on Tuesday…XLU, XLP and XLE were the strongest sectors…XLF
was the weakest sector.
Breadth weakened… decliners
led advancers…4.07 to 1 on the NYSE and 6.89 to 1 on the NASDAQ…
Tuesday
– weakened, decliners led
Monday – weakened,
decliners led
Friday – weakened,
advancers led
Thursday – strengthened
– advancers led
Wednesday – weakened,
decliners led
SPY
down 2.67 at 163.33…volume 158.2 million shares
VIX
up 1.78…at 16.77…
TNX
down .84 at 27.21…
TLT
up 1.32 at 106.13...
XLF
down .48 at 19.45…volume 72.8 million shares
AAPL
down 14.38 at 488.59…volume
15.1 million shares
FB
down 1.70 at 39.64…volume 72.5 million shares
Technical Commentary:
IWM – 2.35%, QQQ – 2.05%, SPY – 1.61%, DIA
– 1.15%.
Futures moved lower overnight and
the SPY opened lower following Monday’s bearish engulfing pattern. The SPY closed 1.03 below its open for
a total loss of 2.67 on Tuesday. The SPY
broke through its 38% Fib level and closed two cents below its 50% Fib level of
163.35. Its next support level is
161.55. The SPY which made a lower
close while its MACD histogram made a higher low and is forming a potential
MACD bullish divergence.
AAPL -2.86% and FB -4.11% both fell
more than the broad market and are forming a potential bull flag pattern. GLD and SLV gapped and closed
higher. TSLA made a new high
close and CMCSA formed a piercing line pattern.
DSW +7.91% soars following earnings before the open.
In addition to the SPY many
individual stocks gave bear flag entry signals today including ALK, BAC, C,
CIEN, CREE, F, FAS, FSLR, GLW, GS and TPX. Many of these same stocks are forming potential
MACD bullish divergences as they make similar or lower lows.
Short-term market posture continues defensive.
Support Levels
ES = 1,647, 1,629, 1,611
SPY = 165.15, 163.35, 161.55
Q2 Earnings Reactions
Positive Reactions – DSW, 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:
Diagonal Breakout: TLT,
Bull Flag: AAPL, AMGN, BIDU, FB, MSFT, ANR, DDD, GMCR, GME,
KKD, LNKD, NTES, SSYS,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
Moves
New Highs:
Gap Up: GOLD,
Gap Down: ADBE, ADSK, AMAT, ESRX, FAST, FFIV, GOOG, GRMN,
MAT, MU, MYL, PCLN, QCOM, ROST, SBUX, SIRI, SYMC, TXN, WDC, WFM, XLNX, YHOO,
ALK, ATI, BAC, C, CLF, CNX, CREE, CRM, F, FAS, GLW, GS, RCL, STI, TBT, UAL,
VECO, ZION,
H&D Breakout:
Breakout Test:
Bounce: SHLD,
MACD Divergence Bounce:
Bear Flag:
Support Break: AMZN, COST, DTV, EBAY, NUAN, NVDA, SNDK, STX,
CIEN, DNKN, FIVE, LVS, SINA, SPLK, SPY,
______________________
6 of 100 NDX stocks closed higher on Tuesday.
Leading NDX 100 stocks included: SHLD, TSLA, SBAC, CMCSA
Lagging NDX stocks included:
WDC, SNDK, MU, FB, AMGN, STX, VRTX, FFIV, KLAC, CELG, AAPL, GOLD, SIRI,
BIDU
Leading stocks > +2% on Tuesday included: FAZ, UCO, SCSS
Lagging stocks < -2.0% included: LDK,
UAL, FAS, CDE, CIEN, SSYS, TSL, RCL, CLF, DDD, CREE, ANR, ANR, SINA, ZION,
Stocks to Watch on Wednesday
Holding Above 30 DMA= 20
TSLA, GRMN, PCLN, VIAB, FB, NFLX,
AKAM, BIDU, QCOM, AAPL, WYNN, FOXA, DELL, GOLD, NVDA, ROST, ADSK, DLTR, MSFT,
AMGN
Moving Above 30 DMA = 0
Moving Below 30 DMA = 23
AVGO, BMC, CA, CELG, CHKP, CHRW, CTSH, CTXS, EXPD, FISV,
FOSL, GILD, INTU, ISRG, MU, MYL, NTAP, ORLY, SBUX, SYMC, TXN, CTRX, VRSK
Staying Below 30 DMA
ADP, FFIV, NUAN, VOD, YHOO, MDLZ, 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
Thirteen Week Intermediate Term Market Trend: Neutral
5-Day Short Term Market Trend: Down
No comments:
Post a Comment