One of nine sectors
moved higher on Tuesday…XLU, XLE and XLB were the strongest sectors and
XLK was the weakest.
Breadth weakened as decliners led advancers 1.31 to 1 on
the NYSE and
1.68 to 1 on the NASDAQ.
Tuesday – weakened, decliners led
Monday – strengthened,
advancers led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday –
strengthened, mixed
SPY down 2.71 at 202.74 on 134.0 million shares
VIX up 1.70 at 17.22…
TNX down .03 at 18.25…
TLT up .21 at 134.57...
XLF down .21 at 23.63 on 28.5 million shares
AAPL down 3.96 at 109.14 on 95.5 million shares
FB down 1.71 at 75.78…on 20.1 million shares
Technical Commentary:
IWM -0.48%, SPY
-1.32%, DIA -1.65%, QQQ
-2.59%.
The NDX crumbled -110.22 points led by a -31.7 NDX
point drop in MSFT. INTC, CSCO,
GOOG, AAPL, FB and GILD contributed another -24.9 NDX points to the downside. The other -53 NDX
points were spread across 86 stocks as only 7 stocks in the NDX
rose on Tuesday.
S&P futures dropped before the open on a combination
of weak earnings reactions from MSFT, CAT, DD, PG and a lower than
expected durable goods report.
Stocks
were led lower by weak earnings late Monday and Tuesday before the open. After the close AAPL +6.06,
+5.55% blew estimates away earning $18 billion, selling 74.5 million iPhones during the
holiday season, and led a bevy of positive earnings reactions in after-hours
trading:
FSL +3.15,
11.95%
X +1.88,
+8.84%
YHOO +3.35,
+6.98%
JNPR +1.13,
+5.18%
EA +1.99,
+4.11%
WDC +3.37,
+3.45%
IWM was the strongest market segment
on Tuesday and during mid-afternoon was down just one cent. IWM closed lower but above its open and
did form a white candle.
RUT Movers: XON, PBYI, MNKD, KITE, SLCA
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 = 205.10, 206.42, 208.97...
QQQ = 105.26…
IWM = 117.89, 118.72, 121.41…
Support Levels
SPY = 204.02, 202.33, 201.50...
QQQ = 103.72, 102.59, 101.35…
IWM = 116.57, 115.10, 114.20...
Earnings this week:
Monday: MSFT, STX, TXN, ZION
Tuesday: AAL, AAPL, AMGN, EA, ILMN, WDC, YHOO, FSL,
GLW, JNPR, X,
Wednesday: BIIB, FB, LRCX, QCOM, TSCO, VRTX,
CAVM
Thursday: ALXN, AMZN, BRCM, CELG, CHKP, MAT, VIAB, WYNN,
MCHP, BABA, BX, HOG, JDSU, RCL, SWI,
Friday: PCAR
Q4 Earnings Reaction
Positive Reactions – AAPL,
EA, FSL, GLW, JNPR, WDC, X, YHOO, NFLX, ALK, BHI, CREE, DAL, EBAY, ETFC,
GE, HON, KMB, LUV, MXIM, SBUX, SWKS, TRV, UAL, UNH, UNP, SNX, LLTC, TSM
More than 10% - NFLX
Negative Reactions – MSFT,
STX, AAL, ZION, AXP, ALTR, FFIV, IBM, ISRG, JNJ, KLAC, KSU, MCD, STT, XLNX, AA, BAC, C,
JPM, KBH, WFC,
More than -10% - FFIV, KBH,
Reversal in progress – BAC, C, IBM, JNJ, JPM,
Reversal of Initial Reaction – WFC
The SPX Market Forecast is pointed up at 61.
___________________
Setups
Horizontal Breakout: IWM,
NTES, MGM, MAR, TXN, FEYE, JD, KKD, MBLY, KEY, TSL, FSLR, SSYS,
Diagonal Breakout: SPY,
AMBA, FAS,
Bull Flag: KRFT, MNST, AVGO, AAL, DAL, ADBE, EBAY,
GRMN, CTRP, ETFC, STI, Z, LOCO
Gap Up: AAPL, EA, FSL, JNPR, WDC,
X, YHOO
Moves
New Highs: NFLX, SBUX,
ILMN, GLW, SCSS,
Bull Flag Bounce: GLD,
JNUG, GDX,
Gap Down: MSFT, INTC, HOG, HPQ, QQQ, CAT, PG
Bear Flag: MU,
______________________
7 out of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: NFLX, DLTR, XLNX, ILMN, SBAC, SBUX, SPLS
Lagging NDX stocks included: MSFT, VIP, AAL, NVDA, INTC, MU, CSCO, ADSK,
AAPL, STX
Leading stocks > +2% on Tuesday:
GLW, LC, SCSS, TSL, GPRO
Lagging stocks < -2.0% included:
MTW, HPQ, HOG, RAX, CRM, DGLY, EMC,
CREE, FAS, TWTR, UAL, V, VSLR, SPLK, SWI, SCHW
Stocks to Watch on Wednesday
Holding Above 30 DMA = 51
WFM, SIAL,
CHKP, KRFT, MNST, SRCL, AVGO, HSIC, CTSH, FISV, NXPI, PAYX, SIRI, CELG, ADP,
ATVI, BIIB, CERN, CTRX, EA, GILD, NFLX, VOD, VRTX, AAL, ILMN, LLTC, REGN, TXN,
BBBY, BIDU, DISH, GOOG, LMCA, LRCX, LVNTA, SBAC, SBUX, AMZN, CHRW, DLTR, EXPD,
GRMN, MAR, ROST, SYMC, TSCO, VRSK, ORLY, MYL, WYNN
Moving Above 30 DMA = 0
Moving Below 30 DMA = 13
AAPL, ADBE, CA, CMCSA,
COST, CSCO, DTV, EBAY, EQIX, ESRX, MSFT, NVDA, YHOO
Staying Below 30 DMA
FB, AMAT, FAST, GMCR, INTC, ISRG, KLAC, MDLZ, BRCM, VIP, SPLS, WDC, QCOM,
STX, TRIP, ADI, AKAM, CHTR, DISCA, FOXA, LBTYA, PCAR, PCLN, VIAB, ADSK, MAT, MU,
ALTR, CTXS, INTU, NTAP, SNDK, AMGN,
XLNX, ALXN, TSLA
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
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