Five of nine sectors moved higher on Tuesday
and one was unchanged…XLF, XLY and XLI were the
strongest sectors…XLU was the weakest.
Sector Posture – all sectors are positive
Positive trend: XLB, XLE, XLF, XLI, XLK,
XLP, XLV, XLY, XLU
Neutral trend near
resistance:
Neutral trend near
support:
Breadth strengthened…as advancers led decliners 1.68 to 1 on
the NYSE and 2.18 to 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – mixed,
advancers led
Friday – strengthened,
advancers led
Thursday – mixed,
decliners led
Wednesday – weakened,
decliners led
SPY up .54 at 194.83 on 84.8 million shares
VIX down .59 at 12.06…
TNX up .58 at 26.55…
TLT down .89 at 111.54...
XLF up .23 at 22.73 on 24.5 million shares
AAPL down .12 at 92.08 on 29.7 million shares
FB up .21 at 64.40…on 27.6 million shares
Technical Commentary:
IWM +0.71%,
SPY +0.28%, DIA +0.18%, QQQ +0.05%.
IWM and SPY gave a bull flag bounce
entry on Tuesday. QQQ and DIA are poised
for a support bounce bull flag entry.
XLF and XLY bounced on Tuesday while
XLI, XLK, XLP, XLU and XLV are also in a bull flag price pattern.
SCTY +9.65,
+17.58% following makes $200 million stock offer for Silevo.
GMCR +5.47,
+4.56% rises to new high while leading the NDX.
ADBE +6.36,
+9.42% gains in after-hours trading on a positive earnings reaction.
While the bull flag pattern is a short-term trend continuation
pattern, wait for the bounce as the entry Chart
Signal.
We’re still watching AAPL for a potential bounce.
However XLF did bounce on Tuesday as did dozens of bull flags.
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 = 196.05, 197.87,
198.99 …
QQQ = 93.02, 94.31…
IWM = 117.48, 118.48…
Support Levels
SPY = 193.11, 191.96,
190.88…
QQQ = 91.73, 90.44…
IWM = 114.66, 113.62…
Q1 Earnings Reactions
Positive Reactions –
CIEN, BIG, PANW, GLNG, QIHU, AAPL, ADSK, AET, ALL, ALXN, AMAT, ANGI, ANR, APA, ATVI, BA, BHI,
BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP, CTRX,
CTXS, DAL, DAVE, DDS, DECK, DHI, DNB, DO, DTV,
DV, EA, ENR, ETFC, FCX, FISV, FNMA,
FOXA, GE, GILD, GMCR, GME, GOGO, GRMN, HAL, HAS, HOG, HPQ, HUM, IBKR, INTC, JCP, JNJ, KO, LPNT, LRCX,
LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NTAP,NXPI, PBI, PCLN, POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP, TRV,
TSL, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z
Negative Reactions – KKD,
SPLK, 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, DKS, DVA, EBAY, ESI, 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, NKE,NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM,
REGN, SAVE, SEE, SFUN, SIRI, SOHU, SPLS, SSYS, STLD, STT, STX, SUNE, SWI, T, TJX, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA,
Reversal in progress – AEIS, AMGN, BRCM,
CHKP, CTSH, EXPE, FEYE, GRPN, KLAC, KMB, LLTC, LXK, MOS, NUE, PCAR, STLD, WDC, ZION
Reversal of Initial
Reaction – ADM, AIG, AKAM, AKS, ARWR, ATI, BAC, BMY, BRCM, CAR, CELG, COF, DDD, DIS,
DISCA, DVA, ESRX, F, FFIV, IBM, JCI, K, KRFT, LLY, LNKD, LVS, MMM, MU, NKE, NSC,
NUE, NVDA, PG, PRGO, QCOM, SAVE, SIRI, SOHU, STX, SUNE, T, UPS, VIAB, VMW, VZ,
YNDX, YY, ANGI, ANR, BTU, COG, DECK,
ETFC, RF, SCHW, SWK, INTC, YHOO
The SPY Market Forecast green line is in the upper zone at 83.
____________________
Setups
Horizontal Breakout: CTXS,
MSFT, SBUX, SPLK,
Diagonal Breakout:
Bull Flag:
QQQ, DIA, AXP, CAT, CSCO, DD, GE, JNJ, MMM, MRK, UNH, UTX, XLB, XLI, XLK, XLV, ANGI, BX,
CIEN, JD, RAX, RCL, SCHW, SCSS, TPX, YNDX, ZION, AAPL, AMZN, CELG, CMCSA, FB, ILMN,
NTAP, BHI, CL, CNX, AVGO,
Potential Bullish
Divergence: IBM, WMT,
Gap Up: ADBE,
Gap Down:
Bear Flag: EBAY,
At Support:
C- Pattern:
Moves
New Highs: MU, AKAM, AMAT,
EQIX, SNDK, STX, CVX, SPWR, Z, TSLA,
H Breakout: SSYS, CSIQ,
ETFC, SCTY, X, XONE,
Diagonal Breakout:
Bull Flag Bounce: SPY,
IWM, SCHW, MS, JPM, XLF, FAS, STI, XLY, BAC, DAL, MTW, RCL, ADSK, GRMN, MAR,
TRIP, ALL, BBY, DIS, HD, AAL, AIG,
CTRP, GOGO, MFRM, SWI, MNST, NFLX, SBUX,
Gap Up: GMCR, EXPE, NFLX,
Gap Down:
Breakout Test:
Bounce:
MACD Divergence Bounce:
Bear Flag:
Support Break:
C- Pattern: FSLR
______________________
65 of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: GMCR, EXPE, TSLA, NFLX, ATVI, STX, CTSH, MAR,
AVGO, NXPI
Lagging NDX stocks included: REGN, VRTX, ALXN, ISRG, ESRX, GILD, YHOO,
BIIB, WYNN, CELG
Leading stocks > +2% on
Tuesday included: SCTY, JASO,
CSIQ, ETFC, XONE, GME, CRM, QIHU, TSL, SSYS, SCHW, SPWR, FSLR, UAL, DDD, SUNE,
WLT, JCP, CREE, FAS, ANGI, MS, SWI, ATI, SOHU, BAC, ZION, X, SINA
Lagging stocks < -2.0% included:
SFUN, YOKU
Stocks to Watch on Wednesday
Holding Above 30 DMA= 75
MAR, CHRW,
SIAL, MU, SNDK, CHTR, AAPL, CTXS, ADP, CELG, EQIX, NXPI, AVGO, ATVI, KRFT,
FOXA, GMCR, CTRX, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, HSIC, INTU, MSFT, MXIM,
BIDU, CMCSA, FFIV, TRIP, BRCM, GOOG, SIRI, AKAM, AMGN, BIIB, ESRX, EXPE, LLTC,
SBUX, VIAB, FB, ALTR, CERN, DLTR, NTAP, TXN, DISCA, REGN, TSLA, AMZN, GRMN,
KLAC, NVDA, ADI, INTC, MYL, STX, WDC, VIP, COST, ORLY, SRCL, FAST, ISRG, LMCA,
CHKP, WFM, MNST, XLNX, ADP, PAYX, PCAR, SYMC
Moving Above 30 DMA =
2
CA,
CTSH
Moving Below 30 DMA = 4
ALXN, LINTA, PCLN, VRSK
Staying Below 30 DMA
EXPD,
MDLZ, TSCO, VRTX, YHOO, SBAC, GILD, LBTYA, MAT, FISV, BBBY, DTV, QCOM, ROST, WYNN,
DISH, SPLS, VOD, EBAY
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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