All nine sectors moved
higher on Tuesday…XLV, XLU and
XLE were the strongest sectors…XLF was the weakest sector.
Breadth strengthened…advancers led decliners…1.78 to
1 on the NYSE and 1.14 to 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – mixed,
decliners led
Friday – weakened, decliners led
Thursday – strengthened,
advancer led
Wednesday – strengthened, advancers led
SPY up 1.50 at 200.48 on 116 million shares, above average volume
VIX down 1.39 at 12.73…
TNX down .02 at 25.89…
TLT down .46 at 113.09...
XLF up .10 at 23.48 on 31.9 million shares
AAPL down .77 at 100.86 on 66.8 million shares
FB up 1.50 at 76.08…on 37.7 million shares, above average volume
Technical Commentary:
IWM +
0.28%, DIA + 0.62%, SPY + 0.75%, QQQ + 0.87%.
Due to the FOMC announcement on Wednesday afternoon,
many commentators are speculating that stocks may drift ahead of the
announcement, just in case the Fed announces an intent to raise rates sooner
than currently expected. Since no one
really knows just trade the charts.
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 = 200.00, 201.37, 204.32...
QQQ = 99.75,
101.13…
IWM = 115.73, 117.06, 118.76...
Support Levels
SPY = 197.59, 196.24,
195.16...
QQQ = 99.08, 97.99,
97.51…
IWM = 115.51, 114.31,
113.49...
Earnings this Week: ADBE,
Q2 Earnings Reactions
Positive Reactions – LULU,
PANW, ULTA, MFRM, SPLK, AVGO, CRM, GPS, TFM, FL, AMAT, CSIQ, GME, HPQ,
PCLN, NTES, ROST, SINA, NVDA, MNST, ANR, FSLR, GTAT, LNKD, SFUN, SSYS, SUNE,
UBNT, YOKU, 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% - ULTA,
LULU, PANW, MFRM, SPLK, TWTR, CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN,
SSYS, SUNE, UA, VRSN, X
Negative Reactions – KKD, CIEN, BBY,
QIHU, TSL, ADSK, CREE, GOGO,
JASO, JDSU, JWN, M, RAX, YOKU, SCTY, YELP, CTSH, MYL, AEM, AET,
AKAM, BWLD, BZH, CL, CMI, COP, DDD, ESI, GLW, GRMN, HLF, JEC, KRFT, LNG,
MTW, RYL, SLCA, UPL, 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 – AET, AKAM, ALXN, AMZN,
ATI, EA, GIS, GRMN, ILMN, KO, KRFT, LNG, P, RYL, STX, TPX, VRTX,
Reversal of Initial
Reaction – KKD, BBY, TSL, BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX,
SLCA, UPL, YELP, YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is at 84.
____________________
Setups
Horizontal Breakout:
GME, RAX, ZU, ADSK, DTV,
Diagonal Breakout: DAL,
EMC, IBM,
Bull Flag: BAC, CSIQ, GOGO,
GPRO, JASO, MFRM, NKE, PANW, UAL, ZION, CTXS,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: JD, SCTY, SFUN,
C- Pattern:
Moves
New Highs: X,
H Breakout:
D Breakout:
Bull Flag Bounce:
Gap Up:
Gap Down: LVS, AAPL,
Bounce: SPY, AAL, BX,
CTRP, FAS, FEYE, FSLR, GLW, GME, KNDI, LNKD, NTES, P, RCL, SCSS, SPLK, SSYS,
SUNE, SWI, SWKS, TPX, TWTR, UA, UBNT, UPL, V, YY, ANR, CREE, MTW, UNG, VJET, ADBE,
AMZN, AVGO, CELG, COST, CTSH, ESRX, EXPE, FB, FFIV, GILD, GOOG, ILMN, INTC,
MAR, MNST, MSFT, MU, MYL, PCLN, QCOM, SBUX, SNDK, STX, TRIP, TSLA, TXN, WDC,
WFM, XLNX,
MACD Divergence Bounce:
SOHU, YOKU, Z, CREE, BIDU,
C- Pattern:
Bear Flag:
Support Break:
______________________
86 of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: MU, GILD, CELG, ALTR, XLNX, ILMN, SNDK, REGN,
TSLA, MYL, NXPI, BIDU, GMCR
Lagging NDX stocks included: AAPL, MAT
Leading stocks > +2% on Tuesday
included: P, MBLY, Z,
X, YNDX, SWKS, GME, YY, TWTR, ZU, AAL, BBY, LNKD, UBNT, KNDI, SSYS
Lagging stocks < -2.0% included:
JD, GPRO
Stocks to Watch on Wednesday
Holding Above 30 DMA= 49
INTC,
SYMC, SBAC, NTAP, COST, BBBY, CERN, AMGN, CTXS, FFIV, ISRG, YHOO, MSFT, ADP,
CTRX, MNST, ROST, CHKP, MAR, PAYX, FISV, SIRI, VRSK, AKAM, AVGO, DISH, KLAC,
LMCA ,ALTR, AMAT, BRCM, TXN, FAST, NXPI, SNDK, GMCR, CMCSA, DTV, KRFT, VTX,
SPLS, CHTR, DLTR, EXPD, QCOM, INTU, AAPL, CSCO, LBTYA
Moving Above 30 DMA = 15
ADSK, CA, CELG, ESRX, EXPE, FB, GILD, GOOG, ILMN, MXIM, MYL, NVDA,
ORLY, REGN, XLNX,
Moving Below 30 DMA = 0
Staying Below 30 DMA
ADBE, AMZN, ATVI, EQIX, FOXA, LINTA, NFLX, STX, TRIP, TSLA, VIP, ALXN,
BIDU, LLTC, MU, HSIC, SIAL, WFM, CHRW, EBAY, SBUX, SRCL, TSCO, DISCA, MAT, ADI,
VOD, BIIB, WDC, GRMN, PCLN, PCAR, CTSH, WYNN, MDLZ, VIAB
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Neutral
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