Only one out of nine sectors moved higher on Tuesday… XLV, XLK and XLE were the
strongest sectors…XLI was the weakest sector.
Sector Posture – six sectors are positive
Positive trend: XLB, XLE, XLF, XLK, XLV,
XLY
Neutral trend near
resistance:
Neutral trend near
support: XLI, XLP, XLU
Breadth weakened
as decliners led advancers 1.53 to 1 on the NYSE and advancers led decliners 1.03 to 1 on the NASDAQ.
Tuesday – weakened, mixed
Monday – strengthened,
decliners led
Friday – weakened, decliners
led
Thursday – weakened,
decliners led
Wednesday – weakened,
mixed
SPY down .85 at 196.95 on 80.3 million shares
VIX up .72 at 13.28…
TNX down .29 at 24.62…
TLT up .42 at 115.93...
XLF down .12 at 22.90 on 28.4 million shares
AAPL down .64 at 98.38 on 43 million shares
FB down 1.21 at 73.71…on 41.2 million shares
Technical Commentary:
IWM +
0.27%, QQQ – 0.18%, DIA – 0.37%, SPY – 0.43%.
IWM leads while forming a bullish harami in
a MACD bullish divergence. QQQ
and SPY still in bull flag pattern as bounce fails to hold, both make
higher low than Monday.
After-hours
TWTR +11.14, +28.87 on positive EPS
reaction and increase in user growth.
BIIB earnings flag bounce, FB, SWI, SWKS,
VRSN, GILD earnings flag bounce to horizontal resistance.
(click image to enlarge)
The FOMC meeting is underway today and Wednesday with FOMC announcement expected Wednesday at 2 pm ET.
GDP Q2 will be out tomorrow morning at 8:30 am ET. The Unemployment report for July will be
out Friday morning 8:30 am.
Trade with the trend of
the chart you are trading and continue to move your profit protection
stops. Continue to follow
your rules.
Short-term up trend Chart
Targets:
SPY = 198.12, 199.06…
QQQ = 96.31, 97.52, 98.28
IWM = 116.46, 119.09…
Support Levels
SPY = 196. 59, 194.13,
193.11…
QQQ = 93.57, 91.73,
90.44…
IWM = 114.66, 113.16…
Earnings this week:
Monday – CMI, TSN,
WYNN, JEC, HLF
Tuesday – AET, AKS, DLR, GLW, HCA, MDC, YNDX, AMGN,
AXP, BWLD, CHRW, ESRX, FISV, MAR, MRK, PFE, SLCA, X, UPS, VRTX
Wednesday – GRMN,
HES, AEM, AKAM, CTRP, EQIX, KRFT, LRCX, MTW, WDC, WFM, YELP
Thursday – DDD,
BZH, CL, COP, DTV, XOM, ESI, RYL, TEVA, TWC, EXPE, LNG, LNKD, MA, MCHP,
SPWR, TSLA, TRLA
Friday – CBOE,
CVX, HLT, PG, BRK.A
Q2 Earnings Reactions
Positive Reactions – AKS,
TSN, WYNN, YNDX, CMG, BIIB, ISRG, SWI, UA, VRSN, AAPL, APD, CA, CHKP, CMCSA, CTXS, DAL,
DECK, DOW, FFIV, FB, FTI, GD, LXK, LMT, NBR, NDAQ, NOK, OSTK, ORLY, PETS, RHI,
STLD, SWK, TSCO, TXN, WHR, XRX, ZION, BX, C, GOOGL, GS, HON, INTC, KSU,
JPM, PM, SCSS, SWKS, URI, AA, STZ, APOL, BKS, KBH, MON,
MU, NKE, SCHN,
Negative Reactions – AET,
CMI, GLW, HLF, JEC, ALK, ALXN, AMZN, ANGI, ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC, FCX, GM,
HOG, ILMN, JNPR, KLAC, KMB, KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX, STI, STO,
T, TPX, TRIP, TRV, UTX, V, XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT, SLB, SNDK,
STX, USB, YHOO, FAST, FDO, CAMP, BBBY, GIS, CCL, WAG,
Reversal in progress – GIS,
WAG,
Reversal of Initial
Reaction – BBBY, YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is in the upper zone at 84.
____________________
Setups
Horizontal Breakout: JD,
NKE, SCHW, SCTY, TWTR, CRM, LNKD, SINA, WLT, AKAM, CMCSA, DTV, EXPE, PCLN,
TSLA, WDC,
Diagonal Breakout: ETFC,
GLD, GOGO, SOHU, SPWR, JCP, UPL, XONE, YOKU, CELG,
Bull Flag:
BX, C, DAL, FAS, MS, RCL, SWI, VRSN, PANW, ZION, FB, GOOG, INTC, MAR, MSFT, YHOO,
Potential Bullish
Divergence: IWM
Gap Up: TWTR, AMGN,
ESRX, SLCA, X,
Gap Down: BWLD, VRTX
Bear Flag:
At Support: AAL, AIG,
P, HOG, ILMN, MU,
C- Pattern:
Moves
New Highs: HPQ, GILD,
H Breakout: COST,
WYNN,
Diagonal Breakout: TSL,
VJET, YNDX, ESRX,
Bull Flag Bounce:
Gap Up: COST,
Gap Down: GLW,
Breakout Test:
Bounce: ANR, WFM,
MACD Divergence Bounce:
DDD, YNDX, ADSK,
Bear Flag:
Support Break: BBRY, CSIQ,
GTAT,
C- Pattern:
______________________
25 of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: WFM, WYNN, ESRX, GILD, COST
Lagging NDX stocks included: BIDU, FB, AVGO, GOOG
Leading stocks > +2% on Tuesday
included: SCTY, P,
ETFC, GOGO, DDD, VJET, ZONE, ANGI, ANR, WLT
Lagging stocks < -2.0% included:
GLW, CSIQ, Z, GME, BBRY, QIHU, KNDI,
CTRP, JASO, MTW, GTAT,
Stocks to Watch on Wednesday
Holding Above 30 DMA= 57
CHRW,
SIAL, MU, CHTR, ADP, EQIX, ATVI, CSCO, ADBE, INTU, MSFT, BIDU, CMCSA, GOOG,
SBUX, INTC, STX, WDC, LMCA, SYMC, DTV, VRTX, FISV, GILD, SBAC, MDLZ, NTAP,
EBAY, VRSK, COST, PAYX, DISCA, CTRX, FB, BBBY, MYL CERN, SIRI, AAPL, CELG,
CTSH, EXPE, MAR, REGN, ALXN, AMGN, CTXS, FFIV, PCLN, VOD, WYNN, BIIB, CHKP,
ISRG, CA, TSCO, YHOO
Moving Above 30 DMA = 3
BRCM,
SPLS, SRCL
Moving Below 30 DMA = 4
DLTR,
EXPD, ORLY, PCAR
Staying Below 30 DMA
ADSK, AMZN, HSIC, KLAC, LINTA, AVGO,
DISH, ILMN, QCOM, TRIP, ALTR, GMCR, KRFT, LLTC, NXPI, TXN, VIAB, XLNX, AMAT,
NFLX, LBTYA, NVDA, VIP, SNDK, AKAM, FOXA, MAT, MNST, TSLA, ADI, ROST, GRMN,
FAST, MXIM, WFM, ESRX
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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