Seven of nine sectors moved higher on Tuesday…XLF,
XLE and XLY were the strongest sectors…XLU was the weakest sector.
Breadth strengthened…advancers
led decliners…1.19 to 1 on the NYSE and 1.84 to 1 on
the NASDAQ…
Tuesday
– strengthened, advancers led
Monday – Labor Day Holiday
Friday – weakened, decliners
led
Thursday – strengthened,
advancers led
Wednesday –
strengthened, advancers led
SPY
up .74 at 164.39…volume 142.3 million shares
VIX
down .40…at 16.61…
TNX
up .99 at 28.48…
TLT
down 1.49 at 104.22...
XLF
up .16 at 19.60…volume 42.6 million shares
AAPL
up 1.36 at 488.58…volume
11.8 million shares
FB
up .58 at 41.87…volume 48.7, all-time closing high
Technical Commentary:
DIA + 0.18%, SPY + 0.45%, QQQ + 0.57%,
IWM + 0.68%.
The IWM small cap index led the broad indexes on Tuesday, a
sign that buyers were returning after the three-day Labor Day weekend. After a gap open, indexes sold off and filled
their gap before buyers stepped in and ended the day with a reversal of Friday’s
selloff.
Reports claim that concerns on war
in Syria are weighing on the markets.
Buyers fought through that worry sending the SPY to its highest
close since Monday August 26. Some
traders see a potential bear flag forming, prices are inching higher
following a MACD histogram bullish divergence higher low last week.
The NDX +17.95 was led by big names GOOG, AMZN, BIIB, REGN,
AMGN, CMCSA, AAPL, CELG, FB, GILD and CSCO which collectively
added over 17 points. The other
73 NDX gainers barely offset the points lost by MSFT after the
NOK deal was announced.
FB +1.39% continues to trend higher. Z and SPLK both made a new
all-time closing high.
Solar stocks JKS +14.55%,
YGE +9.07%, TSL +8.95%,
CSIQ +5.68%, JASO +5.65%
and SPWR +2.98% were sizzling once
again on Tuesday.
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 – SPLK, CRM, GES, DSW, ADSK, ROST, GME, JRCC,
RAX, SSYS, TMUS, SGMS, FWLT, MNST, GRPN, TSLA, AGU, BOFI, FOSL, ADM,
MGM, 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
pointed down.
____________________
Setups
H Breakout: BIDU, COST, CTSH, QCOM, WYNN, CMG, FIVE, GLD, LVS,
SSYS, WLT,
Diagonal Breakout: ADBE, AKAM, AMZN, CMCSA, FAST, FFIV, NTAP,
NUAN, PCLN, SBUX, SIRI, SNDK, STX, SYMC, TXN, YHOO, BAC, C, CIEN, CLF, FAS, SINA,
SPY, YOKU,
Bull Flag: GMCR, KKD, NTES,
Potential Bullish Divergence: FSLR,
Gap Up:
Gap Down:
Bear Flag:
At Support: CREE, GLW,
Moves
New Highs: CRM, LNKD, Z,
Gap Up: AMGN, ESRX, WDC, CNX, TBT,
Gap Down: MSFT, TLT,
H&D Breakout: ATVI, MU, XLNX, DNKN, UAL, UNG,
Breakout Test:
Bounce: ADSK, AMAT, CSCO, GOOG, MAT, ROST, GS, JNPR,
MACD Divergence Bounce: JCP,
Bear Flag:
Support Break: MNST,
______________________
84 of 100 NDX stocks closed higher on Tuesday and one was unchanged.
Leading NDX 100 stocks included: REGN, BIIB, ATVI, MU, LMCA,
AMZN, XLNX, YHOO, FAST, ALXN, EXPD, CELG, WDC, ALTR
Lagging NDX stocks included:
MNST, MSFT, FOSL, VOD, SRCL, SPLS, AVGO
Leading stocks > +2% on Tuesday included: TSL, NTES, CIEN, TPX, DDD, FCX, JNPR,
LVS, SSYS, Z, ZAGG, ANR, LNKD, TBT, PWRD, HUM, NKE FAS, CLF, DECK, C, MCP
Lagging stocks < -2.0% included: ESI,
FAZ
Stocks to Watch on Wednesday
Holding Above 30 DMA= 24
TSLA, GRMN, PCLN, FB, VIAB, NFLX,
BIDU, QCOM, AAPL, WYNN, DELL, GOLD, NVDA, ADSK, AMGN, AVGO, BMC, CTSH, GILD,
MYL, SBAC, VOD, NUAN, SHLD
Moving Above 30 DMA = 18
AKAM, ALTR, BIIB, CELG, EQIX, EXPD, FOXA, LBTYA, LIFE, MU,
MXIM, NTAP, REGN, ROST, XBUX, SYMC, VRSK, YHOO
Moving Below 30 DMA = 2
FOSL, MSFT
Staying Below 30 DMA
CTRX, CTXS, DLR, CA, CHKP, CHRW,
FISV, INTU, ISRG, ORLY, TXN, ADP, FFIV, MDLZ, ATVI, WDC, PAYX, SPLS, SIAL,
HSIC, ADI, ALXN, CSCO, EBAY, KLAC, LLTC, LMCA, MCHP, SIRI, SRCL, XLNX, XRAY,
BBBY, CMCSA, DSCA, ESRX, PCAR, WFM, MNST, FAST, ADBE, COST, AMAT, AMZN, CERN,
KRFT, GOOG, LINTA, DTV, EXPE, VRTX, SNDK, STX, BRCM, MAT, INTC
Thirteen Week Intermediate Term Market Trend: Neutral
5-Day Short Term Market Trend: Neutral
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