Only
one of nine sectors moved higher on Monday…XLI moved higher, and XLF and XLU were the strongest sectors…while XLY was the weakest sector.
Breadth strengthened
on the NASDAQ…advancers led decliners…1.55 to 1 on the NYSE and 1.73 to 1 on the NASDAQ.
Monday – weakened, decliners led
Friday – strengthened, advancers
led
Thursday – weakened
slightly, mixed
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
SPY down .63 at 179.42…volume 104.6 million shares
VIX up .91 at 13.10…
TNX down .31 at 26.78…
TLT up .63 at 105.36...
XLF down .01 at 21.12 volume
42.7 million shares
AAPL down 6.36 at 518.63…volume 8.7 million shares
FB down 3.18 at 45.83…volume 85.7 million shares…
Technical
Commentary:
DIA + 0.09%,
SPY – 0.35%, IWM
– 0.78%, QQQ – 0.98%.
Most
stocks pulled back on Monday’s session to close lower, however, for the first
time ever the DJIA rose above the 16,000 level in intra-day trading
while the
S&P rose above the 1,800. The DJIA did gain 14.32 to close at
15,976.02 which was a record close.
TSLA continued its downward trend to
close the day down 13.87 or 10.24%. FB
shares dropped on Monday closing down 3.18
or 6.49% on volume of 85.9 million
shares.
Chart Signals knows that it is important to
realize that as a trader you don’t know the future and that your favorite market
commentator or the television talking heads don’t know the future either, but
it is the charts themselves that give, through the buying and selling actions
shown, the most objective estimate of future price action. Of course when new information becomes known
that will be factored into the price action which will at times change the
trend prior to a chart target. See Chart Targets below…
Continue
to trade with trend of the individual stock that you are trading and be
vigilant in protecting profits. Continue
to move profit protection
stops according to your rules.
Chart Targets:
SPY = 180.99, 182.69…
QQQ = 84.74, 85.52…
IWM = 110.96, 112.83…
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 SPY posture is
up.
Support Levels
ES = 1,774, 1,736
SPY = 177.64, 174.76
QQQ = 83.48, 82.77, 81.37
IWM = 107.93
Earnings this week: KKD, JKS, TSL, ADSK, HD, CRM, GME, JCP, P, SPLK,
Q3 Earnings Reactions
Positive Reactions – YOKU,
SINA, NTAP, SLXP, PCLN, NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB,
MDVN, NATI, SPR, ONNN, EXPE, CRR, HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT,
DICSA, ANR, SWKS, FB, CMCSA, GILD, DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY,
XYL, JLL, PBI, ALR, HUN, ACT, 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 – CSCO,
RAX, MNST, QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD,
AVP, WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR,
XCO, WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC,
AGCO, PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK, RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO,
SIRI, 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, ATVI, BIDU, COST,
DTV, INTC, ATI, C, IBM, SPLK, SSYS, UAL, YOKU,
Diagonal Breakout: TSL,
Bull Flag: ADBE, BBBY, ESRX,
SBUX, STX, WDC, WYNN, FSLR, GME, SPWR,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: WFM, ANGI, CREE,
C- Pattern:
Moves
New Highs:
Gap Up:
Gap Down: MSFT, NVDA,
H Breakout:
D Breakout:
Breakout Test:
Bounce: SWI,
MACD Divergence Bounce:
Bear Flag:
Support Break: AMAT, FB,
TSLA, BBRY,
______________________
16 out of 100 NDX
stocks closed higher and one was unchanged on Monday.
Leading NDX 100 stocks included: CELG, AMGN, FISV,
CHTR, GMCR
Lagging NDX stocks included: TSLA, FB, AMAT, WFM,
VRTX, ALXN, NVDA, NFLX, SHLD, LMCA
Leading stocks > +2% on Monday
included: XONE, YOKU, SSYS, MFRM, LCC
Lagging stocks < -2.0% included: YELP, SCTY, PWRD, TWTR, ANR, P, ESI, Z,
QIHU, WLT, BBRY, CNX, LNKD, JCP, KKD, CRM, FIVE, SINA, GRPN, RAX, CREE, GME,
SWKS, FSLR, CIEN
Stocks to Watch on Tuesday
Holding Above 30 DMA= 62
CTSH, VOD,
ROST, ADBE, SNDK, SBUX, STX, CERN, CMCSA, MSFT, XRAY, AAPL, HSIC, FISV, FOSL,
INTC, INTU, LINTA, PAYX, SBAC, WDC, CHKP, DTV,
GOOG, ADP, AMZN, MAT, DISCA, CA, COST, LLTC, TXN, ADI, MCHP, MU, EXPE,
NFLX, ADSK, ESRX, LBTYA, ISRG, ALXN, GILD, MYL, NVDA, PCLN, MDLZ, DLTR, MNST,
SHLD, WYNN, YHOO, ATVI, QCOM, AMGN, BBBY, CHRW, NTAP, SRCL, BIDU, SIAL, FOXA
Moving Above 30 DMA =1
CELG
Moving Below 30 DMA = 9
BIIB, BRCM, GOLD, GRMN, KLAC, PCAR,
SIRI, EQIX, FOXA
Staying Below 30 DMA
EBAY,
SPLS, AVGO, CSCO, VIAB, CTXS, AMAT, VIP, WFM, CTRX, KRFT, REGN, VRSK, LMCA,
TSLA, EXPD, FAST, CHTR, VRTX, FB, MXIM, AKAM, ORLY, FFIV, SYMC, ALTR, XLNX,
NUAN, GMCR
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Up
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