Seven nine
sectors
moved higher on Tuesday…XLV, XLE and XLU were the strongest sectors…while
XLP was the weakest sector.
Breadth strengthened as advancers
led decliners 2.02 to
1 on the NYSE and 2.23 to
1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – holiday
Friday – weakened,
advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
advancers led
SPY up .22 at 184.24 volume 80.2 million shares, below average volume
VIX up .30 at 13.87…
TNX down .35 at 27.11…
TLT up .24 at 106.82...
XLF up .04 volume 21.3 million shares, below average volume
AAPL up 2.00 at 545.99 volume 9.3 million shares, below
average volume
FB up .21 at 67.30…volume 43.8 million shares, below average volume
Technical
Commentary:
IWM +1.04%,
QQQ +0.49%, SPY +0.12%, DIA -0.11%.
On Tuesday
the RUT played catch-up and led stocks higher while the NDX rose
for the 8th straight day to another new high close. The DJIA closed slightly lower with 15
of 30 stocks higher, led by gains in JPM, GS, MRK, DIS and UNH.
GILD, GOOG, AAPL, BIDU, BIIB and PCLN were the point leaders in the NDX
on Tuesday.
Many
stocks again closed at or near their recent highs on Tuesday including: CIEN,
CRM, FAS, GLD, IWM, MTW, QIHU, SCTY, SPLK, SWI, ADBE, ADSK, AKAM, FB, GOOG, MU,
NFLX, PCLN, SNDK, TRIP, TSLA, TXN and XLNX.
KO -1.46, -3.75% moved lower after releasing earnings
this morning. PNRA -2.43, -1.40% fell
in after-hours following release of its earnings after the close.
TSLA
reports earnings after the close on Wednesday.
Trade with the trend of the chart
you are trading and move
your protective stops. Be mindful of
reversal patterns like double bottoms and MACD divergences. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 184.10, 187.99…
QQQ = 90.43, 92.25, 94.26…
IWM = 115.39, 117.37…
Support Levels
SPY = 181.85, 180.29 179.04
QQQ = 89.00, 87.74,
86.97
IWM = 113.65, 111.21
Q4 earnings season…
The majority of earnings
season is done, however there are still several companies including ADSK, CRM, DISH, DTV, ESRX, GRMN, GRPN, MCP, MNST, PCLN, ROST, SCTY, SPLK, TSLA,
WLT and YNDX that will report over the next several days…
Q4 Earnings Reactions
Positive Reactions – KRFT,
AMAT, NVDA, SPWR, TRIP, REGN, CBOE, MCO, ATVI, AKAM, EXPE, GMCR, NXPI,
ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC, KORS, KEYW, IDXX, XYL, YUM,
NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, VIAB,
V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, CAT, RCL, JNPR,
MSFT, KMB, PG, MXIM, SBUX, NFLX, FFIV, URI, UNP, EBAY, MCD, CREE, TXN, UTX,
NUAN, XLNX, BHI, DAL, RF, MS, SLB, STI, AXP, SWKS, BAC, LLTC, WEN, MON, MU,
STZ, APOL
Negative Reactions – KO,
A, GNC, WTW, VFC, WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI, LNKD,
VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, GILD, CVX, MA,
MAT, PCAR, AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA, CTXS,
EMC, TSCO, CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, HON, KSU, SWK, STT,
ALTR, ISRG, KLAC, KEY, JCI, LMT, WDC, ABT, BAX, ATI, COH, FCX, AMD, IBM, HAL,
JNJ, TRV, VZ, GE, COF, INTC, UNH, C, GS, CSX, FAST, AA, FDO, BBBY, SCHN (72)
Reversal of Initial
Reaction – VRSN, CSCO, ADP, CTSH, HUM, P, TSO, ADM, CERN, GILD, PCAR, MMM, CELG, HOG,
POT, SHW, EMC, GLW, DD, VMW, YHOO, ZION, HON, SWK, ALTR, ISRG, KLAC, LMT, HAL, FAST,
FDO, AA (32, 45%)
The Market Forecast Green Line is above 80 and rising.
____________________
Setups
H Breakout: C, CREE, DDD, GLW, IBM, JDSU, KKD, LVS, MCP,
MTW, NTES, P, SCSS, SCTY, SPY, SSYS, SWI, SWKS, TPX, TSL, UNG, V, VRSN, XONE, YOKU,
AKAM, BIDU, COST, CTSH, EBAY, GILD, GMCR, MSFT, SBUX, TXN, WDC, WYNN,
Diagonal Breakout: CSIQ, DRYS, GME, JNPR, MFRM, MS, SFUN, TBT,
AMZN, CELG, YHOO
Bull Flag: RCL, YELP, Z, CMCSA, FFIV, QCOM,
Potential Bullish
Divergence: BX, UAL,
Gap Up:
Gap Down:
Bear Flag: RAX, TWTR, WLT, STX, WFM,
At Support:
C- Pattern:
Moves
New Highs: CIEN, CRM, FAS, GLD, IWM, MTW, QIHU,
SCTY, SPLK, SWI, ADBE, ADSK, AKAM, FB, GOOG, MU, NFLX, PCLN, SNDK, TRIP, TSLA, TXN,
XLNX
Gap Up:
Gap Down: KO
H Breakout: ESI, FSLR, QIHU, SINA, SOHU, SPWR, ADSK,
Diagonal Breakout: P, XONE, AAPL,
Breakout Test: X,
Bounce: CREE, DDD, NKE, RAX, TLT, UNG, GILD, GMCR,
MNST,
MACD Divergence Bounce: BBRY,
Bear Flag: BAC, ROST,
Support Break:
______________________
67 out of 100 NDX
stocks closed higher and on
unchanged on Tuesday.
Leading NDX 100 stocks included: MYL, LBTYA, BIDU,
GMCR, ILMN, GILD, TSLA, REGN, GRMN, TRIP
Lagging NDX stocks included: SYMC, MAT, ROST,
SBUX, KLAC, WFM, AMZN, SIAL, QCOM, STX
Leading stocks > +2% on Tuesday
included: SCTY, QIHU, FSLR, YOKU, SOHU, BBRY, P, SINA, UNG, DDD, CSIQ,
XONE, CIEN, SPWR, RAX, TSL, Z, LNKD, ESI, MCP, SFUN, CREE, YNDX, YELP
Lagging stocks < -2.0% included: GRPN, ATI
Stocks to Watch on Wednesday
Holding Above 30 DMA= 71
ILMN,
ESRX, EQIX, FFIV, SBAC, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, REGN, ALXN,
WYNN, FB, GMCR, GOOG, ADBE, ORLY, DISH, EBAY, ADSK, AKAM, BRCM, DTV, PCAR,
VRTX, ATVI, AVGO, CERN, EXPE, GILD, MNST, MYL, NVDA, QCOM, SIAL, SNDK, TRIP,
MAR, AMGN, MSFT, PCLN, XLNX, ADI, AMAT, CHKP, COST, KLAC, TXN, CTRX, AAPL,
CTSH, GRMN, HSIC, LINTA, LLTC, VIAB, WDC, KRFT, BIDU, CA, CELG, VRSK, CMCSA, CSCO, FOXA, LMCA, MDLZ
Moving Above 30 DMA = 2
FISV, LBTYA
Moving Below 30 DMA = 2
SBUX, SRCL
Staying Below 30 DMA
CHTR, DISCA, NTAP, WFM, CHRW,
AMZN, SYMC, SIRI, STX, EXPD, FAST, VIP, VOD, ADP, CTXS, INTC, INTU, YHOO, TSCO,
PAYX, ROST, DLTR, BBBY, SPLS, MAT
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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