All nine
sectors
moved higher on Tuesday…XLV, XLE and XLK were the strongest sectors…while
XLY was the weakest sector.
Breadth strengthened as advancers
led decliners 3.55 to
1 on the NYSE and 2.30 to
1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
SPY up 1.97 at 181.98 volume 117.8 million shares
VIX down .75 at 14.51…
TNX up .41 at 27.19…
TLT down .62 at 106.47...
XLF up .22 at 21.53 volume 37.5
million shares
AAPL up 6.97 at 535.96 volume 10 million shares, below
average volume
FB up1.30 at 64.85…volume 45.7 million shares, below average volume
Technical
Commentary:
DIA +
1.27%, QQQ + 1.14%, SPY + 1.09%, IWM + 0.89%.
U.S.
stocks rose on Tuesday as advancing stocks increased and all nine sectors moved
higher. The DJIA led the broad
indices with gains in BA, GS, JNJ, NKE, CVX and T. Each stock has started to rally off of recent
lows. NKE is a classic
horizontal resistance breakout setup. Interest rates TNX moved higher and bonds TLT are at support.
The NDX
which is a horizontal resistance breakout new high setup closed just below its
high of Jan 22. The NDX was led by gains
in AAPL, GOOG, MSFT, FB, REGN, QCOM, CELG, CMCSA, GILD, GMCR, AMGN and ALXN. PCLN 1,213.93 makes new high close by 64 cents.
GOOG and ALXN broke out to new all-time high
closes. FB also made a new
all-time high. REGN broke out of horizontal
resistance to a new high close on a positive earnings reaction after reporting
before the open.
QCOM and GILD are horizontal resistance
breakout setups. CELG is a
reversal horizontal resistance breakout setup.
CMCSA made a new high close and is also a resistance breakout
setup.
GMCR 119.40, +8.48, +7.65% broke through its Sep 2011 high of
115.62 to a new all-time high close.
RAX -7.71, -19.10% was crushed after earnings on Monday.
TRIP -1.45,
-1.72% was trading lower after
reporting earnings after the close.
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 = 182.54, 184.69…
QQQ = 89.00, 92.25, 94.26…
IWM = 113.65, 117.37…
Support Levels
SPY = 179.81, 178.08
QQQ = 87.74, 86.97
IWM = 111.34, 110.40
Q4 earnings season…
The majority of earnings
season is done, however there are still several companies including AMAT, CSCO, DISCA, DISH, GRMN, KRFT, NTAP,
NVDA, PCLN, REGN, TRIP, TSLA and WFM that will report over the next several days…
Q4 Earnings Reactions
Positive Reactions – 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 – 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
Reversal of Initial
Reaction – CTSH, P, ADM, CERN, GILD, GLW, HON, FAST, FDO, AA
The Market Forecast Green Line is pointed up above 45 and rising.
____________________
Setups
H Breakout: A, DRYS, FSLR, GLW, JDSU, JNPR, NKE, QIHU, SCSS,
STI, SWKS, TSL, V, X, Z, ADSK, CELG, CTSH, GILD, MSFT, QCOM, TRIP, XLNX,
Diagonal Breakout: ANR, BBRY, DDD, GOGO, SCTY,
Bull Flag: CRM, SWI,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: CSIQ, LNKD, TLT
C- Pattern:
Moves
New Highs: RCL, SPLK, AKAM, CMCSA, ESRX, FB, GMCR,
GOOG, MNST, NFLX, WYNN,
Gap Up: GOLD,
Gap Down: GRPN, RAX,
H Breakout: FAS, LVS, MS, COST, FFIV,
Diagonal Breakout: BAC,
Breakout Test:
Bounce: UNG, WLT,
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
86 out of 100 NDX
stocks closed higher on Tuesday.
Leading NDX 100 stocks included: GMCR, REGN, VRTX,
MNST, XLNX, AVGO, AKAM, AMAT
Lagging NDX stocks included: STX, ISRG, MU
Leading stocks > +2% on Tuesday
included: UNG, WLT, DRYS, ANR, LVS, RCL, SPLK, MCP
Lagging stocks < -2.0% included: RAX, CSIQ, GRPN, ANGI, SOHU, SCTY
Stocks to Watch on Wednesday
Holding Above 30 DMA= 52
ILMN,
ESRX, CMCSA, EQIX, FFIV, SBAC, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, CHTR, ALTR,
ALXN, REGN, GOOG, WYNN, FB, GMCR, ADBE, ORLY, DISH, EBAY, ADSK, AKAM, AVGO,
BRCM, CSCO, DTV, PCAR, VRTX, WFM, AMGN, ATVI, CERN, EXPE, GILD, MNST, MSFT,
MYL, NTAP, NVDA, PCLN, QCOM, SIAL, SNDK, TRIP, MAR, XLNX, ADI
Moving Above 30 DMA = 8
AAPL, AMAT, CHKP, COST, KLAC, TXN, CTRX, DISCA
Moving Below 30 DMA = 2
HSIC, SBUX
Staying Below 30 DMA
SRCL, CHRW, WDC, AMZN,
VRSK, SYMC, SIRI, STX, CA, CELG, CTSH, EXPD, FAST, FISV, LLTC, VOD, VIP, ADP,
BIDU, CTXS, GRMN, KRFT, INTC, INTU, MDLZ, LBTYA, YHOO, VIAB, LINTA, TSCO, PAYX,
ROST, DLTR, BBBY, SPLS, FOXA, MAT, LMCA
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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