Three of nine sectors moved higher on Monday…XLU,
XLP and XLK were the strongest sectors…XLB 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 weakened…as decliners led advancers 2.29 to 1 on the NYSE and 3.96 to 1 on the NASDAQ.
Monday – weakened, decliners led
Friday - Holiday
Thursday - strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – weakened,
advancers led
SPY down .69 at 197.51 on 61.6 million shares
VIX up 1.01 at 11.33…
TNX down .31 at 26.17…
TLT up .81 at 111.49...
XLF down .10 at 22.94 on 24.7 million shares
AAPL up 1.94 at 95.97 on 56.3 million shares
FB down 1.00 at 65.29…on 28.7 million shares
Technical Commentary:
QQQ – 0.30%,
SPY – 0.35%, DIA –
0.36%, IWM – 1.71%.
Stocks were hit with profit-taking
on Monday following
the three and a half day July 4 Holiday weekend as the DJIA closed above
17,000 for the second straight day. AAPL
led the NDX which help offset the impact of 87 stocks closing lower.
IWM -1.71% was hardest hit led by drops in
ITMN, ISIS and ULTI.
AA kicks off the unofficial start of
earnings season on Tuesday
with WFC reporting on Friday.
Next week releases will be more numerous.
STZ is forming an earnings flag.
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 –
AA, HTZ,
Wednesday
–
Thursday –
FDO,
Friday –
FAST, WFC
Q2 Earnings Reactions
Positive Reactions –
STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,
Negative Reactions – CAMP,
BBBY, GIS, CCL, WAG,
Reversal in progress –
Reversal of Initial
Reaction –
The SPY Market Forecast green line is rising in the upper zone at 95.
____________________
Setups
Horizontal Breakout: NKE,
RCL, AKAM, AMZN, COST,
Diagonal Breakout: FEYE,
GOGO, SOHU, YNDX, FSLR,
Bull Flag:
CRM, CTRP, DDD, IBM, IWM, JCP, JD, P, PANW, QIHU, SSYS, SUNE, TWTR, VJET, XONE,
YELP, Z, SINA, ADSK, BIDU, FB, ILMN, MU, NFLX, TRIP, TSLA, GPRO, CSIQ, SCTY,
SPLK, YOKU, GRPN
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: UAL,
C- Pattern:
Moves
New Highs: AAPL,
H Breakout: AAPL, CTSH,
Diagonal Breakout:
Bull Flag Bounce: BBRY,
Gap Up:
Gap Down: GTAT, UNG,
Breakout Test:
Bounce:
MACD Divergence Bounce:
Bear Flag: HOG,
Support Break: DAL, FSLR,
JASO, MFRM, SPWR, TSL, UPL,
C- Pattern:
______________________
13 of 100 NDX stocks
closed higher and one unchanged on Monday.
Leading NDX 100 stocks included: AAPL, PCLN
Lagging NDX stocks included: TSLA, ILMN, MU, NFLX, ISRG, MYL, AMGN, ALXN,
CHKP, VRTX, PCAR, YHOO, ADSK
Leading stocks > +2% on Monday
included: GPRO, BBRY
Lagging stocks < -2.0% included:
GTAT, VJET, XONE, UPL, FEYE, P, TSL, Z,
JASO, GOGO, DAL, SCTY
Stocks to Watch on Tuesday
Holding Above 30 DMA= 88
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, XLNX, SYMC, CTSH, DTV, MAT, DISH,
LINTA, VRTX, FISV, GILD, SBAC, WYNN, FFIV, VOD, VIAB, DLTR, LBTYA, MDLZ, MNST, NTAP, YHOO, CA, CTXS, EBAY, FOXA,
HSIC, PCLN, QCOM, REGN, VRSK, ALXN, COST, PCAR, VIP, FAST, PAYX, SPLS
Moving Above 30 DMA = 0
Moving Below 30 DMA = 2
ALXN, CHKP
Staying Below 30 DMA
MXIM,
NVDA, WFM, BBBY CERN, DISCA, ROST, ESRX, EXPD, TSCO
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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