Small Caps, Financials Lead as SPY Makes New All-time Closing High...QQQ Six Cents Away...PCLN, WYNN, FB Heat Up as GOGO Goes...

Eight of nine sectors moved higher and one was unchanged on Tuesday…XLF, XLK and XLU were the strongest sectors…XLB was the weakest again.

Sector Posture 

Positive trend: XLB, XLE, XLI, XLK, XLP, XLV, XLY

Neutral trend near resistance: XLF

Neutral trend near support: XLU

Breadth remained strong…as advancers led decliners 2.20 to 1 on the NYSE and 2.92 to 1 on the NASDAQ.

Tuesday – strengthened, advancers led

Monday – holiday

Friday – strengthened, advancers led

Thursday – mixed, advancers led

Wednesday – strengthened, advancers led

SPY up 1.17 at 191.52 on 71.8 million shares, New All-time High

VIX up .15 at 11.51…

TNX down .18 at 25.18…

TLT up .66 at 113.36...

XLF up .19 at 22.23 on 23.1 million shares

AAPL up 11.50 at 625.63 on 12.4 million shares

FB up 2.13 at 63.48…on 55.5 million shares, below average volume

Technical Commentary:

IWM + 1.44%, QQQ + 1.25%, SPY + 0.61%, DIA + 0.39%,.

XLF and XLK were the leading sectors, XLF closed one cent above horizontal resistance. XLF ready to shift from neutral to positive.

XLK makes new all-time high.

IWM leading market segment for fourth time in the last six trading days

QQQ closed within 6 cents of its all-time closing high.

DIA closed within 58 cents of its all-time closing high.

XLY horizontal resistance breakout

Trade with the trend of the chart you are trading and continue to move your protective stops.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 191.49, 192.85, 194.36…

QQQ = 91.36, 93.39…

IWM = 114.55, 115.02…

Support Levels

SPY = 190.42, 188.54, 188.01…

QQQ = 88.61, 87.85, 86.58…

IWM = 113.03, 112.02, 111.04…

Q1 Earnings Reactions

Positive Reactions – HPQ, GME, TSL, ADSK, AMAT, DDS, JCP, AAPL, AET, ALL, ALXN, ANGI, ANR, APA, ATVI, BA, BHI, BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP, CTRX, CTXS,  DAL, DAVE, DECK, DHI, DNB, DO, DTV, DV, EA, ENR, ETFC, FCX, FISV, FNMA, FOXA, GE, GILD, GMCR, GME, GRMN, HAL, HAS, HOG, HUM, IBKR, INTC, JNJ, KO, LPNT, LRCX, LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NXPI, PBI, POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP, TRV, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z

Negative Reactions – DKS, ESI, SPLS, TJX, ACI, ADM,  AEIS, AIG, AKAM, AKS, ALTR, AMGN, AMZN, ARWR, ATI, BAC, BBRY, BIIB, BMY, BRCM, CAR, CBOE, CELG, CHKP, CLF, CLX, COF, CREE, CTSH, DDD, DIS, DISCA, DISH, DVA, EBAY, ESRX, EXPE, F, FAST, FEYE, FFIV, FXCM, GOOG, GRPN, IBM, JAZZ, JCI, JDSU, JPM, K,  KLAC, KMB, KRFT, LLTC, LLY, LNKD, LVS, LXK, MCP, MMM, MOS, MTW, MU, MXIM, NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM, REGN, SAVE, SEE, SFUN, SIRI, SOHU, SSYS, STLD, STT, STX, SUNE, SWI, T, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA, 

Reversal in progress – AKAM, BRCM, CHKP, CTSH, EXPE, GRPN, KMB, LLTC, LXK, MOS, NUE, STLD, SUNE, ZION

Reversal of Initial Reaction – ADM, AIG, AKS, ARWR, ATI, BAC, BMY, CAR, CELG, COF, DDD, DIS, F, IBM, K, KRFT, LLY, LVS, MMM, MU, NSC, NUE, NVDA, PG, SIRI, T, UPS, VZ, YNDX, ANGI, ANR, DECK, ETFC, RF, SCHW, SWK, INTC, YHOO

The SPY Market Forecast green line is in the upper zone at 88.

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Setups

Horizontal Breakout: AAL, CTRP, JDSU, MFRM, MS, P, SFUN, STI, YELP, CRM, LNKD, LVS, NTES, SCTY, AKAM, AMZN, CMCSA, CTSH, EBAY, ESRX, FB, GRMN, MSFT, NTAP, STX, TRIP, TSLA, TXN, XLNX,

Diagonal Breakout: GLW, GOGO,

Bull Flag: GME, JCP, TSL, UAL, MNST,

Potential Bullish Divergence: HOG, IBM, MTW, UPL,

Gap Up:  QIHU,

Gap Down:  

Bear Flag: FSLR, ZION, ANGI, X,

At Support: TWTR,

C- Pattern: 

Moves

New Highs: SPY, TPX, Z, AAPL, SNDK, YNDX, NKE, DDD, TRIP,

Gap Up:  

Gap Down:

H Breakout: C, DAL, IWM, KKD, PANW, SCSS, V, BAC, GOGO, SWI, ADBE, ADSK, BIDU, CELG, FB, FFIV, GOOG, INTC, MU, PCLN, SBUX, WDC,

Diagonal Breakout: ATI, FAS, MS, SPWR, LNKD, ESRX, QCOM, STX, TSLA,

Breakout Test: BX,

Bull Flag Bounce: RAX, GMCR, NTAP, WYNN,

Bounce:

MACD Divergence Bounce: UNG,  

Bear Flag:  

Support Break: GLD, COST,

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80 of 100 NDX stocks closed higher on Tuesday.

Leading NDX 100 stocks included: PCLN, WYNN, ALXN, FB, REGN, BIIB, CLEG, VRTX, WDC, EXPE, STX

Lagging NDX stocks included: SPLS, MNST, CTRX, ORLY, DTV, COST, NFLX, LBTYA, ROST, CHRW

Leading stocks > +2% on Tuesday included: GOGO, SPLK, CSIQ, DDD, XONE, BAC, PANW, SFUN, YELP, FAS, LNKD, SWI, UPL, MS, ANGI, SCTY

Lagging stocks < -2.0% included: GME, GLD, WLT

Stocks to Watch on Wednesday

Holding Above 30 DMA= 78

MAR, CHRW, EXPD, SIAL, MDLZ, MU, SNDK, CHTR, GILD, AAPL, CTXS, DTV, ADP, FISV, EQIX, CELG, VRSK, NXPI, AVGO, LBTYA, SBAC, QCOM, ATVI, KRFT, FOXA, ALXN, MNST, SYMC, CTRX, GMCR, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, HSIC, INTU, MSFT, MXIM, BIDU, CMCSA, FFIV, TRIP, BRCM, GOOG, SIRI, AKAM, AMGN, ESRX, EXPE, LLTC, MAT, SBUX, VRTX, VIAB, FB, ALTR, BIIB, CERN, CHKP, DISCA, DLTR, NTAP, PCLN, REGN, TSLA, TXN, WYNN, ADI, AMZN, CTSH, DISH, GRMN, KLAC, NVDA, PAYX, YHOO

Moving Above 30 DMA = 7

INTC, LINTA, MYL, PCAR, STX, WDC, VIP

Moving Below 30 DMA = 3

COST, ORLY, ROST

Staying Below 30 DMA

SPLS, SRCL, VOD, LMCA, FAST, ISRG, XLNX, BBBY, TSCO, EBAY, WFM, CA

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up