Seven of nine sectors moved higher on Monday…XLU, XLV and XLB were the
strongest sectors…XLF was the weakest sector.
Breadth weakened…as decliners led advancers 1.07 to 1 on the NYSE and 1.27 to 1 on the NASDAQ.
Monday – weakened, decliners led
Friday – mixed,
advancers led
Thursday – weakened,
mixed
Wednesday – strengthened, advancers led
Tuesday – strengthened, advancers led
SPY up .36 at 188.42 on 75.6 million shares, below average volume
VIX up .38 at 13.29…
TNX up .20 at 26.11…
TLT down .68 at 112.03...
XLF down .09 at 21.90 on 18.8 million shares, below average volume
AAPL up 8.42 at 601.00 on 9.7 million shares
FB up .75 at 61.21…on 45.5 million shares, below average volume
Technical Commentary:
QQQ +
0.53%, SPY + 0.19%, DIA + 0.11%, IWM – 0.12%.
Stocks opened lower
after selling off in Asia and Europe overnight and preceded to bounce higher
for the day. The NDX led other indexes on
strength in AAPL, GILD, BIIB and FB.
CMCSA broke out of resistance.
HOG Bull Flag Setup...
(click image to enlarge)
IBM Bull Flag Setup...
(click image to enlarge)
YHOO Horizontal Breakout Setup...
(click image to enlarge)
QQQ Horizontal Breakout Setup...
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…
QQQ = 86.90, 87.88…
IWM = 113.84, 115.25…
Support Levels
SPY = 183.37, 181.38
QQQ = 85.09, 84.16,
83.15, 82.03
IWM = 110.12, 108.91,
106.99
Earnings This Week:
Monday: AEIS, AIG, PFE,
TSN, VECO, YY
Tuesday: ATVI, ALL,
ARWR, CBOE, DTV, DISCA, DIS, EA, FEYE, FSLR, FXCM, GRPN, HSIC, LBTYA, MRO, MOS,
TRIP, WFM,
Wednesday: CAR, CTSH,
CTRP, FWLT, HUM, GMCR, MCP, PRGO, PRU, SCTY, SFUN, TSLA, FOXA, Z
Thursday: APA, DISH, FNMA,
JAZZ, LMCA, MNST, NVDA, PCLN, REGN, SUNE, UBNT,
Friday: MHR, SSYS
Q1 Earnings Reactions
Positive Reactions – WYNN, ESI, MA, TMUS, TPX,
YELP, CTRX, TSO, ANR, GRMN, ENR, LVLT, PBI, TWX, CHRW, CNX, DNB, FISV, MAR,
VRSK, WLP, MGM, MRK, NOK, S, UTHR, BWLD, AAPL, AET, ALXN, ANGI, BA, BHI, BIDU,
BTU, BX, C,COG, CTXS, DAL, DAVE, DECK,
DHI, DO, DV, ETFC, FCX, GE, GILD, GME, HOG, HAL, HAS, HOG, IBKR, INTC, JNJ, KO, LPNT, LRCX, MS, NXPI, POT, RF,
SCHW, SNDK, SPWR, STI, SWK, SWKS, TKR, TRV, UNP, URI, WFC, XRX, YHOO
Negative Reactions – MTW, AKAM, DVA,
EXPE, KRFT, LNKD, K, VIAB, VRTX, CLX, JDSU, WDC, EBAY, ESRX, SEE, PNRA, STX,
SWI, TWTR, ADM, BMY, CHKP, COH, DDD, GT, PCAR, SAVE, SOHU, ACI, AKS, ALTR,
AMGN, AMZN, ATI, BAC, BBRY, BIIB, BRCM,
CELG, CLF, CREE, F, FAST, FFIV, GOOG, IBM, JCI, JPM, KLAC, KMB, LLTC, LLY, LVS,
LXK, MMM, MU, MXIM, NSC, NUE, P, PG, QCOM, SIRI, STLD, STT, T, UA, UNH, UPS, V,
VMW, VZ, XLNX, YNDX, ZION, ZNGA,
Reversal in progress – BRCM,
LLTC, NUE, STLD, ZION
Reversal of Initial
Reaction – AKS, ATI, BAC, CELG, F, IBM, KMB, LVS, MMM, MU, PG, SIRI, T, UPS,
YNDX, ANGI, BIDU, NFLX, RF, INTC
The SPY Market Forecast green line is pointed up at 82.
____________________
Setups
Horizontal Breakout: RCL,
SPWR, SPY, SWKS, UBNT, XONE, CELG, TRIP, TSLA, YHOO,
Diagonal Breakout: AAL,
CTRP, FSLR, GLW, JNPR, PANW, STI, ANR, BBRY, CRM, DDD, QIHU, SCTY, SOHU, SSYS, V,
VRSN, YNDX, AKAM, FB, MNST, NTAP, PCLN,
Bull Flag:
One Day:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: CREE, SCHW,
X, ZION, BX, CIEN, RAX, SINA, SWI, TSL, EBAY, MSFT, ROST,
C- Pattern:
Moves
New Highs: AAPL, MU, SNDK,
Gap Up:
Gap Down: C, MS, SFUN,
INTC, WFM,
H Breakout: CMCSA,
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce:
Bounce: HOG, Z,
MACD Divergence Bounce:
LNKD, TBT,
Bear Flag:
Support Break: GME,
MTW,
______________________
57 of 100 NDX stocks
closed higher on Monday and one was unchanged.
Leading NDX 100 stocks included: GMCR, LBTYA, VRTX, ALXN, BIIB, GILD, TSLA,
TRIP, EQIX, REGN, ILMN
Lagging NDX stocks included: WFM, VIP, ATVI, WYNN, FAST, SYMC, CTRX
Leading stocks > +2% on Monday
included: PANW, XONE,
CRM, SCTY, LNKD
Lagging stocks < -2.0% included:
GME, X, MTW, MS, WLT, BBRY, SFUN, ESI
Stocks to Watch on Tuesday
Holding Above 30 DMA= 46
MAR, KRFT,
INTC, CSCO, CHRW, SPLS, COST, EXPD, SIAL, MDLZ, MU, SNDK, CMCSA, ORLY, GILD,
CHTR, MYL, AAPL, CTXS, SRCL, VOD, DTV, ADP, ALXN, CELG, FISV, YHOO, EQIX, NXPI,
AVGO, GRMN, MAT, SIRI, VRSK, LMCA, BIDU, FB, CTRX, LBTYA, SBAC, FOXA, DISH,
CTSH, DLTR, WYNN, TSLA
Moving Above 30 DMA = 7
EXPE, LINTA, NVDA, PAYX, QCOM, VRTX, REGN
Moving Below 30 DMA = 3
ATVI, BRCM, SYMC
Staying Below 30 DMA
CHKP, PCAR, TXN, ADI,
WDC, ILMN, FFIV, VIP, STX, ISRG, AMAT, KLAC, LLTC, NTAP, XLNX, BBBY, ROST,
ALTR, AMGN, HSIC, DISCA, SBUX, TSCO, INTU, AKAM, EBAY, ESRX, WFM, TRIP, ADBE,
AMZN, BIIB, GMCR, CERN, PCLN, MNST, NFLX, CA, GOOG,
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
1 comment:
Dave, thanks for the graphics. they are very helpful.Also thanks for the OBV analysis Friday. I'm sure everyone learned something. Excellent.
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