Seven of nine sectors moved higher on Tuesday… XLE, XLU and XLP were the
strongest sectors…XLY was the weakest sector.
Sector Posture
Positive trend: XLE, XLP, XLU, XLB, XLI,
XLK
Neutral trend near
resistance: XLF, XLV, XLY
Neutral trend near
support:
Breadth weakened…as decliners led advancers 1.24 to 1 on the NYSE and 1.94 to 1 on the NASDAQ.
Tuesday – weakened, decliners led
Monday – strengthened,
advancers
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
Wednesday –
strengthened, advancers led
SPY up .17 at 189.96 on 66.4 million shares
VIX down .10 at 12.13…
TNX down .38 at 26.18…
TLT up .96 at 111.75... bull flag bounce
XLF down .02 at 22.135 on 23.5 million shares, below average volume
AAPL up .93 at 593.76 on 5.7 million shares
FB unchanged at 59.83…on 48.5 million shares,
below average volume
Technical Commentary:
DIA +0.15%,
SPY +0.09%, QQQ +0.07%, IWM -0.98%.
DIA all-time closing high
at 167.05
SPY all-time closing
high at 189.96
XLP all-time closing high
at 44.64
XLB all-time closing high
at 48.40
XLI all-time closing high
at 53.89
XLK all-time closing high
at 36.84
VIX at lowest level since
Jan 10
IWM retraces 44% of Monday’s
gain closes near S1 of Monday’s white candle
Momentum clearly slowed
on Tuesday in many stocks and ETFs which was not unexpected in context on
Monday’s breakout and large gains. SPY
and DIA inch to a new high close but IWM consolidates after Monday’s
massive gain. XLF, XLV and XLY
are still neutral but poised at resistance for horizontal resistance
breakout. XLU formed a
doji/bullish harami pausing its three-day selloff.
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 = 187.17, 189.70,
191.07, 192.27…
QQQ = 89.77, 90.77…
IWM = 113.84, 115.25…
Support Levels
SPY = 189.14, 188.21,
186.01
QQQ = 88.21, 87.07, 85.53
IWM = 111.22, 110.09,
108.28
Q1 Earnings Reactions
Positive Reactions – 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, ESI, 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 – 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, BIDU, NFLX, RF, INTC
The SPY Market Forecast green line is pointed up at 85.
____________________
Setups
Horizontal Breakout: AAL,
FAS, GLW, HOG, IWM, KKD, NKE, QQQ, STI, UAL, CRM, DDD, YNDX, ADSK, COST, CTSH, NFLX,
SBUX,
Diagonal Breakout: IBM,
Bull Flag: ROST,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag: C,
CREE, ETFC, GME, JDSU, MS, MTW, PANW, QIHU, SFUN, SSYS, SWI, TSL, TWTR, UBNT, WLT,
YELP, ADBE, EBAY, ESRX, NTAP, PCLN, STX, TSLA,
At Support: WDC,
C- Pattern:
Moves
New Highs: TPX, MU, SNDK,
Gap Up: RAX, GMCR,
Gap Down:
H Breakout: SPY, VRSN
Diagonal Breakout:
Breakout Test: SWKS,
CELG, MAR, TRIP,
Bull Flag Bounce: TLT
Bounce:
MACD Divergence Bounce:
Bear Flag: TBT, XLNX
Support Break: SPLK,
XONE,
______________________
35 of 100 NDX stocks
closed higher and two were unchanged on Tuesday.
Leading NDX 100 stocks included: GMCR, NTAP, TSLA, SIRI, STX, SPLS, MSFT, WYNN,
EXPD, LBTYA
Lagging NDX stocks included: MYL, NVDA, WDC, DISCA, NXPI, LINTA, CA, FISV,
AVGO, MXIM
Leading stocks > +2% on
Tuesday included: RAX, UBNT,
DDD, GME, Z,
Lagging stocks < -2.0% included:
SPLK, QIHU, WLT,ANGI, SOHU, XONE, TSL,
LNKD, CSIQ, CRM, SCHW
Stocks to Watch on Wednesday
Holding Above 30 DMA= 53
MAR, INTC,
CHRW, SPLS, EXPD, SIAL, MDLZ, MU, SNDK, GILD, CHTR, AAPL, CTXS, SRCL, VOD, DTV,
CELG, FISV, EQIX, NXPI, AVGO, MAT, VRSK, LMCA, LBTYA,
SBAC, QCOM, ATVI, DLTR, KRFT, COST,
FOXA, GMCR, ALXN, CTRX, DISH, HSIC,
ILMN, MNST, ORLY, PAYX, SYMC, ADSK, BIDU, BIIB, FB, INTU, NFLX, SBUX, SIRI, TRIP, TXN, VRTX
Moving Above 30 DMA = 1
MSFT
Moving Below 30 DMA = 7
AMAT,
CMCSA, CSCO, GRMN, NVDA, ROST, VIAB
Staying Below 30 DMA
YHOO,
CTSH, EXPE, LINTA, MYL, WYNN, REGN, TSLA, BRCM, FAST, MXIM, CHKP, PCAR, ADI, WDC,
FFIV, VIP, STX, ISRG, KLAC, LLTC, NTAP, XLNX, BBBY, ALTR, AMGN, DISCA, TSCO, AKAM,
EBAY, ESRX, WFM, ADBE, AMZN, BIIB, CERN, PCLN, CA, GOOG
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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