Four of nine sectors moved higher on Monday…XLP,
XLV and XLK were the strongest
sectors…XLB was the weakest
sector.
Breadth weakened… as decliners
led advancers…1.19 to 1 on the NYSE and decliners led advancers 1.03 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 up .28 at 176.23…volume 84.9 million shares
VIX up .22 at 13.31…
TNX up .09 at 25.12…
TLT down .37 at 107.92...
XLF down .05 at 20.81 volume 21.4 million shares
AAPL up 3.92 at 529.88…volume 19.5 million shares
FB down 1.72 at 50.23…volume 73.3 million shares
Technical
Commentary:
DIA – 0.05%,
IWM – 0.05%, QQQ +
0.02%, SPY + 0.16%.
SPY and QQQ inch to another new high close in
front of AAPL earnings after the close. DIA and IWM near unchanged.
The uptrend
continues. Move profit protective stops according to your rules.
AAPL -6.44,
-1.22% after-hours
reports better than expected EPS and revenues and inline guidance.
STX -2.40,
-4.81% after-hours
reports 1.16 vs. 1.30 estimate, revenue $3.49B vs. $3.56B, adjusts revenue
guidance for Q2, raises dividend.
Resistance Chart Targets:
QQQ = 81.87, 83.17…closed
at 82.45
IWM = 110.96, 112.83…closed
at 110.76
SPY = 177.85, 180.99…closed
at 175.41
Remember it is big money
that creates and sustains the trend. As Granville once
wrote, “technical analysis is the art of tracking the market, following
the footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are
reading the market correctly, seeing through the maze, unconfused by this hall
of mirrors.”
Short-term market posture
is SPY up.
Support Levels
ES = 1,726
SPY = 172.76
QQQ = 81.87, 79.76,
78.40
IWM = 107.83
Earnings to Watch
Earnings releases continue with a large list of major companies reporting
this week including:
Monday – AAPL, STX, BIIB, HLF
Tuesday – X, LNKD, YELP,
BIDU, FISV, GILD, VRTX, XRAY
Wednesday – FB, GRMN, CMCSA, EXPE, KRFT, MCHP, SBUX
Thursday – CTRX, DISCA, MYL
Q3 Earnings Reactions
Positive Reactions – DECK, AMZN, MSFT, FLS,
AVY, ALXN, WOOF, COG, BA, CLGX, ESI, EQIX, WLL, TSCO, RRD, PHM, RCL,
ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS, GNTX, LXK, DD, VFC,
CMG, GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE, BTU, AXP,
KEY, STLD, URI, USB, INTC, JNJ, SCHW, COST, AA
Negative Reactions –
ROP, EW, MRK, RYN, RMD, NCR, KBR,
FSL, ESRX, EMN, FIO, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT,
NFLX, COH, ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH,
EBAY, IBM, XLNX, SCSS, SWK, MU, FAST
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 above
80.
____________________
Setups
H Breakout: AMGN, BRCM, COST, CTSH,
DTV, FAST, QCOM, STX, TXN, GS, RAX, TIF, KLAC, INTC
Diagonal Breakout: CSCO,
EBAY, Z,
Bull Flag: ATVI, CELG, GOOG,
ATI, F, GLW, LCC, SPWR, TLT, AVGO, CERN, CHKP, FOSL, FOXA, CA, BIIB, LMCA,
MSFT, MXIM, PCLN, VOD, VRSK, WYNN, XRAY
Potential Bullish
Divergence:
Gap Up:
Gap Down: SOHU,
Bear Flag:
At Support: FFIV, NVDA, TSLA,
YHOO, MFRM, NTES,
Moves
New Highs: ROST, ESI, SPY,
Gap Up: BMY, CF,
Gap Down: MCP, UNG,
H&D Breakout: MNST,
Breakout Test:
Bounce: JCP,
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
54 of 100 NDX stocks
closed higher on Monday.
Leading NDX 100 stocks included: CTSH, BRCM, TXN,
FFIV, GOLD, LLTC, ISRG, SNDK, AMGN, ESRX, EXPD, ADI
Lagging NDX stocks included: NFLX, TSLA, FB,
BIDU, GRMN, MXIM, ORY, SBUX, EQIX, CHTR, AMZN, GILD, EXPE, PCLN
Leading stocks > +2% on Monday
included: JCP, Z, RVBD, UALHLF, ANF
Lagging stocks < -2.0% included: SOHU, NTES, TSL, CROX, LDK, GRPN, PWRD,
DDD, ZONE, DECK, ANR, CLF, AKS
Stocks to Watch on Tuesday
Holding Above 30 DMA= 68
GRMN, FB,
WYNN, AVGO, CTSH, VOD, ROST, ADBE, DLTR, SNDK, WFM, CHTR, BIDU, XBUX, STX,
AMAT, CERN, CMCSA, BBBY, MSFT, XRAY,VRSK, AAPL, HSIC, SPLS, ATVI, CELG, FISV,
FOSL, GILD, INTC, INTU, KLAC, LINTA, PAYX, PCAR, PCLN, SBAC, WDC, LMCA, FOXA,
CHKP, DTV, MNST, VIAB, GOOG, ADP, AMGN, AMZN, BIIB, MAT, MDLZ, DISCA,KRFT, CA,
CHRW, EXPD, CTRX, GOLD, SIAL, LBTYA, REGN, ALXN, DELL, VRTX, COST, FAST, QCOM
Moving Above 30 DMA = 4
BRCM, LLTC, TXN, ADI
Moving Below 30 DMA = 3
MXIM, SRCL, NFLX
Staying Below 30 DMA
ESRX,
YHOO, EQIX, AKAM, ORLY, SIRI, ADI, BRCM, FFIV, MCHP, MYL, NVDA, SYMC, ALTR, TXN, TSLA, ADSK, ISRG,
XLNX, EBAY, LLTC, MU, EXPE, SHLD, NTAP, CSCO, CTXS, GMCR, NUAN
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Up
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