Eight of nine sectors moved higher on Tuesday…XLV,
XLY and XLK were the strongest sectors…XLU was the
weakest sector.
Sector Posture – eight sectors are positive
Positive trend: XLB, XLE, XLF, XLK, XLP,
XLU, XLV, XLY
Neutral trend near resistance:
Neutral trend near
support: XLI
Breadth strengthened…as advancers led decliners 2.05 to 1 on
the NYSE and 2.70 to 1 on the NASDAQ.
Tuesday – strengthened,
advancers led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
Thursday - mixed
Wednesday –
strengthened, advancers led
SPY up 1.31 at 197.03 on 90.4 million shares
VIX down .42 at 11.15…
TNX up .47 at 25.63…
TLT down 1.24 at 112.28...
XLF up .14 at 22.88 on 28.4 million shares
AAPL up .59 at 93.52 on 38.2 million shares
FB up .77 at 68.06…on 33.2 million shares
Technical Commentary:
QQQ +1.10%,
IWM +1.02%, DIA +0.78%, SPY +0.67%.
Many stocks and eight sectors rose as SPY and
IWM reached a new all-time closing high on Tuesday. QQQ made a new bull-market high and
reached its highest close since Sep 20, 2000.
XLB, XLK and XLV made new all-time
highs today and
XLF closed within 2 cents, while XLY closed within 3 cents
of their all-time closing highs.
AAPL continued its bull flag bounce,
MU broke through horizontal resistance and reached its highest levels since
2002, and FB continued its recent uptrend reaching its highest level
since March 20. STX also broke
out of horizontal resistance.
NFLX +32.50,
+7.38% and PCLN +43.77, +3.64% both gapped higher and formed
large white candles.
Biotech stocks REGN, ALXN, CELG, BIIB and
GILD were among NDX leaders on Tuesday.
CAMP -2.98,
-13.51% and PAYX -0.83, -1.97% fell in
after-hours trading on negative earning reactions.
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 = 94.89, 96.31…
IWM = 120.67, 121.76…
Support Levels
SPY = 196. 59, 194.13,
193.11…
QQQ = 93.57, 91.73,
90.44…
IWM = 116.65, 116.05, 114.66…
EARNINGS this week:
Monday –
Tuesday –
CAMP, PAYX
Wednesday
– STZ,
Thursday –
ESI
Friday –
Q1 Earnings Reactions
Positive Reactions –
APOL, BKS, KBH, MON, MU, NKE, SCHN, ADBE, BBRY, FDX, RHT, YGE, ULTA, 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 – BBBY,
GIS, CCL, WAG, ORCL, LULU, KKD, SPLK, ACI, ADM, AEIS, AIG, AKAM, AKS, ALTR, AMGN, AMZN, ARWR, ATI, BAC, 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, AMZN, BRCM,
CHKP, CTSH, EXPE, FEYE, GRPN, KLAC, KMB, LLTC, LXK, LULU, MOS, NUE, PCAR, STLD,
TWTR, WDC, ZION
Reversal of Initial
Reaction – ADM, AIG, AMGN, AKAM, AKS, ARWR, ATI, BAC, BMY, BRCM, CAR, CELG, COF,
DDD, DIS, DISCA, DVA, ESRX, F, FEYE, FFIV, IBM, JCI, K, KRFT, LLY, LNKD, LVS,
MMM, MU, NKE, NSC, NUE, NVDA, PG, PRGO, QCOM, SAVE, SIRI, SOHU, SPLK, SSYS,
STX, SUNE, T, TSLA, UBNT, UNH, UPS, VIAB, VMW, VZ, YNDX, YY, ANR, BTU, COG, YHOO
The SPY Market Forecast green line is rising in the upper zone at 91.
____________________
Setups
Horizontal Breakout: BX,
CREE, FAS, GLW, GOGO, JCP, JD, SCHW, TPX, TSL, TWTR, UBNT, V, YNDX, AAPL, GMCR,
GRMN, QCOM, TXN,
Diagonal Breakout: AAL,
ETFC, MTW, YELP,
Bull Flag:
FSLR, MFRM, PANW, RCL, CTXS, TRIP,
Potential Bullish
Divergence:
Gap Up:
Gap Down: CAMP, PAYX
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs: GPRO, IWM,
SPY, ATI, BBRY, CTRP, DDD, FEYE, JD, NTES, P, SCSS, SCTY, SPLK, SSYS, SUNE, VJET,
XONE, AVGO, BIDU, CELG, CMCSA, FB, INTC, MAR, MU, SNDK,
H Breakout: CRM, IWM,
LNKD, QIHU, SFUN, EXPE, GILD, GOOG, ILMN, STX, WDC, XLNX, YHOO
Diagonal Breakout:
Bull Flag Bounce: ANGI,
CIEN, GTAT, NKE, SWKS, ADBE, ADSK, AKAM, BRCM, TXN,
Gap Up: NFLX, PCLN,
Gap Down:
Breakout Test:
Bounce: AIG, BAC, C, DAL,
SWI, AMZN, WYNN,
MACD Divergence Bounce:
Bear Flag:
Support Break:
C- Pattern:
______________________
89 of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: REGN, NFLX, ALXN, PCLN, STX MU, CELG, BIIB,
GILD, AVGO
Lagging NDX stocks included: ISRG, MNST, SIRI, CHRW, FAST, LMCA, ESRX,
SBAC, TSLA, SYMC
Leading stocks > +2% on Tuesday
included: VJET, GPRO,
XONE, DDD, SFUN, JD, DAL, ANGI, GTAT, QIHU, UAL, BBRY, TWTR, SUNE, SSYS, AAL, IBM,
LVS
Lagging stocks < -2.0% included:
GOGO, ANR,
Stocks to Watch on Wednesday
Holding Above 30 DMA= 75
MAR, CHRW,
SIAL, MU, SNDK, CHTR, AAPL, ADP, CELG, EQIX, NXPI, AVGO, ATVI, KRFT, GMCR,
CTRX, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, INTU, MSFT, BIDU, CMCSA, TRIP BRCM,
GOOG, SIRI, AKAM, AMGN, BIIB, EXPE, LLTC, SBUX, FB, ALTR, TXN, TSLA, AMZN,
GRMN, KLAC, ADI, INTC, MYL, STX, WDC, ORLY, SRCL, ISRG, LMCA, CHKP, XLNX, PAYX, SYMC, CTSH, DTV,
MAT, DISH, LINTA, VRTX, FISV, GILD, SBAC, WYNN, FFIV, VOD, VIAB, DLTR, LBTYA, MDLZ, MNST, NTAP, YHOO
Moving Above 30 DMA = 9
CA,
CTXS, EBAY, FOXA, HSIC, PCLN, QCOM, REGN, VRSK
Moving Below 30 DMA = 1
FAST
Staying Below 30 DMA
VIP, COST,
PCAR, MXIM, ALXN, NVDA, WFM, BBBY, CERN, DISCA, ROST, ESRX, EXPD, TSCO, SPLS
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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