Three of nine sectors
moved higher on Tuesday…XLP, XLF and XLV were the strongest sectors
while XLE was the
weakest.
Breadth weakened…decliners
led advancers…1.48 to 1 on the NYSE and 1.32 to 1 on
the NASDAQ.
Tuesday – weakened, decliners led
Monday – weakened,
decliners led
Friday – strengthened,
advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
SPY down .70 at 201.07 on 93.3 million shares, below average volume
VIX up .16 at 14.87…
TNX down .06 at 23.42…
TLT up .37 at 119.33...
XLF up .01 at 23.94 on 29.8 million shares
AAPL down 0.80 at 108.60 on 41.5 million shares
FB up 1.88 at 75.76…on 39.3 million shares
Technical Commentary:
DIA +0.06%,
SPY -0.35%, QQQ -0.37%,
IWM -0.46%.
Broad indexes paused on
the day that BABA released its first public earnings stating that revenues grew
54%. YHOO, MSFT, TXN, COST, BIDU and airline stocks DAL, AAL, UAL LUV and
ALK made new highs. PCLN gapped
lower after earnings.
After the close earning
reports caused FEYE, ZU and TRIP
gapped lower while CTRP was higher.
Look for bounce
opportunities in bull flags this week.
TSLA, SCTY, Z and QCOM release earnings on Wednesday.
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 Chart Targets:
SPY = 201.90...
QQQ = 103.37…
IWM = 117.48…
Support Levels
SPY = 199.61, 198.06...
QQQ = 100.26, 99.59…
IWM = 115.04, 113.35...
Earnings this week:
Monday: AIG,
Tuesday: BABA,
CTRP, PCLN, FEYE, ZU, TRIP,
Wednesday:
SCTY, SSYS, Z, QCOM, TSLA, WFM,
Thursday: FSLR, LOCO, SFUN, SUNE,
SWKS, UBNT, DTV, MNST,
Friday:
Q3 Earnings Reactions
Positive Reactions –
ABC, ACI, AMGN, BIDU, BWLD, CBOE, CLF, CLX, CNX, EA, ESRX, EQIX, EXPE, FISV,
GLW, GPRO, GRPN, GT, HSY, JCI, JDSU, LNKD, LVLT, MA, MAR, MO, MTW, MYL, PCAR,
FE, SCHN, STX, SWI, SWKS, TASR, V, WY, X, WHR, AAPL, ALK, ALXN, APOL, BMY, BRCM, CAT,
CELG, CERN, CHKP, CMCSA, CNI, EMC, EW, GD, HAL, HAS, HOG, ILMN, IM, KLAC, KMB,
LLY, LRCX, LXK, MMM, MXIM, MSFT, N, ORLY, PG, RMD, STLD, STT, SWK, TRV, TSCO,
TXN, UNP, VRSN, WOOF, YHOO, YNDX, ZION, AMD, C, CSX, DAL, GE, HON, LVS,
MS, SCHW, SLB, STI, URI, XLNX, COST, BBBY, BBRY, MU, NKE, PAYX,
LULU, PANW, ULTA, MFRM, SPLK,
More than 10% - GPRO,
GPRN, LNKD, BWLD, SWI, N, EW, TSCO, NKE, ULTA, LULU, PANW, MFRM,
Negative Reactions – AEM,
CHRW, COH, FB, GRMN, KRFT, MDC, MRK, NEM, PNRA, RGR, SLCA, TPX, TWTR, ALTR, AMZN, BA, BTU,
CMG, CREE, DECK, DNKN, DOW, EAT, F, GM, IBM, JNPR, KO, LMT, LUV, NDAQ, P, UA,
VMW, XRX, YELP, AXP, BAC, COF, EBAY, GOOGL, INTC, JNJ, JPM, KEY, MAT,
NFLX, WFC, AZO, ADBE, KKD, CIEN,
More than -10% - AEM, P,
TPX,
Reversal in progress – AZO,
Reversal of Initial
Reaction – AXP, ALTR, KKD, MRK, BBRY, MU,
The SPY Market Forecast is at 91.
___________________
Setups
Horizontal Breakout: AMBA,
BAC, BBY, BX, GPRO, JDSU, ADSK,
Diagonal Breakout: JD,
PANW,
Bull Flag: IWM, SPY, QQQ, BBRY,
C, CMGE, CRM, CSIQ, CTRP, ETFC, GME, HOG, MS, QIHU, RCL, SPLK, SPWR, STI, VRSN,
X, YNDX, AKAM, AMZN, AVGO, BRCM, CELG, EXPE, GILD, GMCR, GOOGL, ILMN, MAR, MYL,
ROST, SNDK, XLNX,
Gap Up: CTRP,
Gap Down: TRIP, ZU, FEYE,
Moves
New Highs: AAL, BABA,
DAL, FAS, GLW, KKD, LNKD, NKE, UAL, V, ADBE, BIDU, COST, FFIV, INTC, MSFT, TXN,
YHOO,
Breakout Test: AMBA,
Bull Flag Bounce: SBUX,
Bounce: FB,
Gap Up: DAL,
Gap Down: PCLN,
______________________
43 out of 100 NDX stocks closed higher
on Tuesday and one was unchanged.
Leading NDX 100 stocks included: FB, ATVI, BIDU, COST, ADP, ADBE, YHOO, VRTXS,
CTSH, EBAY
Lagging NDX stocks included: TRIP, PCLN, DISCA, REGN, DISH, EXPE, WYNN,
ILMN, FOXA, CMCSA
Leading stocks > +2% on Tuesday:
BABA, DAL, LOCO = 3
Lagging stocks < -2.0% included:
ZU, XONE, X, LVS, AMBA, GPRO, CSIQ, ATI,
CMGE, RCL, SCTY, MTW, SPWR, TSL, FSLR, RAX, UBNT, YELP, AA, CAR = 20
Stocks to Watch on Wednesday
Holding Above 30 DMA= 88
GMCR, ROST, CHRW, GRMN,
MYL, SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN, BIDU, COST, ORLY, TSCO,
VRTX, XLNX, AAPL, AMGN, BBBY, CELG, ESTX, FISV, GILD, HSIC, ILMN, KRFT, MAR,
PCAR, QCOM, SPLS, SYMC, TXN, WYNN, BRCM, YHOO, CA, CERN, CHKP, CTSH, EXPD, INTU,
LBTYA, NVDA, SBAC, SBUX, STX, ADBE, ADSK, CMCSA, KLAC, LMC, MDLZ, MSFT, VRSK, AMAT,
LMCK, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD, WDC, AKAM, BIIB, CTRX, DISH, EQIX,
SIRI, ADI, ALTR, ATVI, CSCO, DTV, EBAY, EXPE, FAST, GOOG, INTC, LLTC, MAT, MXIM,
SNDK
Moving Above 30 DMA = 0
Moving Below 30 DMA = 3
FOXA, PCLN, TSLA
Staying Below 30 DMA
SIAL, TRIP, DISCA, FB, NFLX, CTXS, VIAB, AMZN, VIP
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
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