Market Rallies On Monday As Stocks Stabilize At Support...SPY Bounces At 200% Target Of July 17th Support Break...

Eight out of nine sectors moved higher on Monday… XLE, XLB and XLY were the strongest sectors…XLU was the weakest sector.

Breadth strengthened as advancers led decliners 1.60 to 1 on the NYSE and 1.66 to 1 on the NASDAQ.

Monday – strengthened, advancers led

Friday – weakened, decliners led

Thursday – weakened, decliners led

Wednesday – weakened, mixed

Tuesday – weakened, mixed

SPY up 1.39 at 193.89 on 90.9 million shares

VIX down 1.91 at 15.12…

TNX down .14 at 24.91…

TLT down .30 at 114.26...

XLF up .18 at 22.40 on 26.1 million shares

AAPL down .54 at 95.59 on 39.8 million shares

FB up 1.15 at 73.51…on 30.6 million shares

Technical Commentary:

IWM + 0.89%, SPY + 0.72%, QQQ + 0.69%, DIA + 0.46%.

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, UPS, YNDX, AMGN, AXP, BWLD, CHRW, ESRX, FISV, MAR, MRK, PFE, SLCA, TWTR, X, 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, AMGN, CHRW, ESRX, HCA, HES, LRCX, TSN, TWTR, WYNN, X, 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,

More than 10% - TWTR, CMG, BIDU, BIIB, ISRG, OSTK, SWI, UA, VRSN, X

Negative Reactions – AEM, AET, AKAM,  BWLD, BZH, CL, CMI, COP, DDD, ESI, GLW, GRMN, HLF, JEC, KRFT, LNG, MTW, RYL, SLCA, UPS, VRTX, XOM, 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,

More than -10% - AMD, ANGI, BWLD, CAMP, DHI, HLF, MXIM, P, SNDK, XLNX,

Reversal in progress – GIS, WAG,

Reversal of Initial Reaction – BBBY, YHOO, APOL, KBH, MON,

The SPY Market Forecast green line is pointed down at 36.

____________________

Setups – The following stocks will be monitored this week for potential

setup signals:  AAPL, GILD, CTXS, AA, HPQ, TWTR,

Six stocks continue to be setups and six stocks gave a bull flag bounce today.

Moves:

New Highs:   

H Breakout:     

Diagonal Breakout:     

Bull Flag Bounce: FB, ESRX, WDC, BIDU, EMC, UA,    

Gap Up:  

Gap Down:    

Breakout Test:  

Bounce:         

MACD Divergence Bounce:      

Bear Flag: 

Support Break:      

C- Pattern:

76 of 100 NDX stocks closed higher on Monday.

Leading NDX 100 stocks included: PCLN, CHTR, BIDU, YHOO, AMGN, DLTR, TSLA, AMZN, MU, WDC, MAR, SYMC, WYNN

Lagging NDX stocks included: CTRX, FOXA, SBAC, BIIB, VRTX

Leading stocks > +2% on Monday included: KNDI, FEYE, QIHU, RCL, P, CTRP, ATI, GOGO, VRSN, FAS, CSIQ, YELP, CRM, SPLK PANW, WLT, KKD, SINA, ANR

Lagging stocks < -2.0% included: GPRO, AAL, UAL, VJET, JCP, ESI

Stocks to Watch on Tuesday

Holding Above 30 DMA= 32

CHRW, ADP, BIDU, INTC, WDC, SYMC, GILD, SBAC, NTAP, EBAY, COST, DISCA, FB, BBBY, CERN, AAPL, EXPE, REGN, AMGN, CTXS, FFIV, PCLN, WYNN, BIIB, CHKP, ISRG, YHOO, BRCM, SPLS, ESRX, DLTR, TSLA

Moving Above 30 DMA = 9

ATVI, CA, CELG, CTSH, MAR, MSFT, STX, TSCO, WFM,                                                       

Moving Below 30 DMA = 2

CTRX, DTV                                                             

Staying Below 30 DMA

EQIX, FISV, INTU, AKAM, ALXN, CHTR, CMCSA, CSCO, GOOG, LMCA, ORLY, PAYX, SBUX, SIAL, SIRI, SRCL, VOD, VRTX, ADBE, MDLZ, VRSK, EXPD, PCAR, MU, LYL, ADSK, AMZN, HSIC, KLAC, LINTA, AVGO, DISH, ILMN, QCOM, TRIP, ALTR, GMCR, KRFT, LLTC,NXPI, TXN, VIAB, XLNX, AMAT, NFLX, LBTYA, NVDA, VIP, SNDK, FOXA, MAT, MNST, ADI, ROST, GRMN, FAST, MXIM

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Down/Neutral