Only
two of nine sectors moved higher on Monday…XLE, XLV and XLF were the strongest sectors…while
XLP was the weakest sector.
Breadth weakened…decliners led advancers…2.55 to 1 on
the NYSE and 2.47 to 1 on
the NASDAQ.
Monday – weakened, decliners led
Friday – weakened,
advancers led
Wednesday – unchanged, advancers
led
Tuesday – strengthened,
advancers led
SPY down .47 at 180.53…volume 99.7 million shares
VIX up .53 at 14.23…
TNX up .60 at 28.01…
TLT down .81 at 103.33...
XLF down .01 at 21.47 volume
30 million shares, bearish engulfing
AAPL down 4.84 at 551.23 volume 16.8 million shares
FB up .11 at 47.06…volume 50.7 million shares
Technical
Commentary:
SPY – 0.26%, QQQ
– 0.29%, DIA – 0.50%,
IWM – 1.00%.
Investors
took some profits on Monday…accelerating losses in late trading, with some
stocks extending losses and others taking a pause as investors evaluate the Fed’s
decision to scale back on its bond buying program.
Energy
stocks advanced in Monday’s trading aided by a boost in US manufacturing data. XLF gained 0.08% with MCP and PSX
gaining on heavier volume.
In after
hours trading KKD continues to extend todays loss after reporting
earnings. KKD broke support on
Monday’s trading down .83 on 2.7 million
shares. In after hours trading KKD
fell another 3.39 or down 13.81%.
ASNA soars in after hours trading
after reporting earnings. ASNA gained
.88 or up 4.21%
in after hours trading.
Albert Einstein: “Insanity: doing the same thing over and over
again expecting different results.”
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.”
New short term chart targets:
Chart Targets:
SPY = 182.06, 183.02…Friday’s
high 181.75
QQQ = 85.14, 85.77…touched
on Friday
IWM = 114.39, 116.10…Friday’s
high over 114
Short-term SPY posture is
neutral.
Support Levels
ES = 1,797, 1,774
SPY = 179.93, 177.98
QQQ = 84.11
IWM = 111.62
Q3 Earnings Reactions
Positive Reactions – SPLK, MRVL, GMCR,
JCP, LZB, JKS, BRCD, TSN, 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 – ROST, GME, BBY,
CPB, JEC, TSL, CRM, 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
The Market Forecast Green Line is above
80.
____________________
Setups
H
Breakout: BIDU, STX, DD, V,
Diagonal Breakout: AMGN, BRCM, FB, NTES,
Bull Flag: BBBY, CMCSA, GOOG, SHLD, JNJ, JPM, MCD, PFE, BAC, C, RCL,
STI, UAL,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: IBM,
C- Pattern:
Moves
New Highs: MSFT, MRK, BX, SWKS,
Gap Up: EBAY,
Gap Down: MMM, GOLD, GRPN,
H Breakout:
Breakout Test:
Bounce: FAST, ANR,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
36 out of 100 NDX
stocks closed higher on Monday and two were unchanged.
Leading NDX 100 stocks included: EBAY, STX, BIIB,
DTV, BIDU, FAST, BRCM, NUAN, FISV, GMCR, NVDA
Lagging NDX stocks included: SHLD, GOLD, TSLA,
ROST, CTXS, CHTR, EXPE, FOSL, CMCSA
Leading stocks > +2% on Monday
included: MCP, CREE, XONE, QIHU, DDD, SWKS
Lagging stocks < -2.0% included: Z, ANGI, GRPN, KKD, SCTY, GLD, X, MFRM,
SWK, CLF, GME
Stocks to Watch on
Tuesday
Holding Above 30 DMA= 63
CTSH, VOD,
ADBE, SBUX, MSFT, XRAY, AAPL, HSIC, FISV, INTU, LINTA, PAYX, WDC, CHKP, GOOG,
ADP, AMZN, MAT, DISCA, CA, COST, LLTC, TXN, MCHP, MU, EXPE, NFLX, ADSK, ESRX,
ALXN, GILD, MYL, PCLN, MDLZ, MNST, SHLD, YHOO,
QCOM, NTAP, SIAL, CELG, BIIB, GRMN, CERN, CMCSA, CTXS, LBTYA, GMCR, BBBY,
DTV, STX, REGN, CHTR, NVDA, WYNN, LMCA,
BIDU, KLAC, PCAR, VRTX, ATVI, BRCM, SIRI
Moving Above 30 DMA = 2
AVGO, SRCL
Moving Below 30 DMA = 2
FOSL, KLAC
Staying Below 30 DMA
ADI, ISRG,
NUAN, INTC, ROST, SYMC, AMGN, DLTR, GOLD, SNDK, SBAC, CHRW, EQIX, FOXA, EBAY, SPLS, CSCO, VIAB, AMAT, VIP, WFM, CTRX,
KRFT, VRSK, TSLA, EXPD, FAST, FB, MXIM,
AKAM, ORLY, FFIV, ALTR, XLNX
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Up
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