Six of nine sectors
moved higher and one was unchanged on
Tuesday…XLK, XLI and XLP were the
strongest sectors and XLY was the weakest.
Breadth was weakened as decliners led advancers 1.44 to 1 on
the NYSE and
1.43 to 1 on the NASDAQ.
Tuesday – weakened,
decliners led
Monday – holiday
Friday – strengthened, advancers
led
Thursday – weakened,
decliners led
Wednesday – weakened,
decliners led
SPY up .42 at 202.05 on 130.9 million shares
VIX down 1.06 at 19.89…
TNX down .08 at 18.07…
TLT up 1.77 at 134.96...
XLF down .10 at 23.39 on 31.9 million shares
AAPL up 2.73 at 108.72 on 49.8 million shares
FB up 1.06 at 76.24…on 22.8 million shares
Technical Commentary:
QQQ +0.79%,
SPY +0.21%, DIA +0.13%, IWM -0.42%.
Who hates support bounces that make traders wade through bounce gaps
that fade and traverse through an up down up day just to close 3 points
higher? Maybe ever trader that trades
multi-day. Scalpers and day traders
love it.
Tuesday is
called price fluctuation. For those in
the know, did you like the way that both the SPX and SPY pulled back to
Friday’s S1 level where buyers stepped in rallied the index and ETF in the last
four hours of trading?
We hope so, since this bounce, test,
rally pattern is common when the market is moving higher.
DAL +3.13,
+7.26% moved
higher on strong earnings.
After the close, CREE +1.94, +6.00% and NFLX +55.89,
+16.02% gapped higher on positive earnings reactions. Look for bullish gaps on Wednesday morning.
Earnings continue tomorrow with AXP, UNH and
other big name companies reporting.
SPX was led on Tuesday by gains in DAL,
NEM, PSX, BWA, MPC, MOS, NFLX, LUV, GILD REGN, BIIB, PCP, URI, AAPL, VLO and
MU.
The
MACD histogram bullish
divergence continued to confirm on SPY, IWM, QQQ, DIA, AAPL,
ADBE, ADSK, AKAM, AMZN, BIDU, BRCM, EA, FB, GMCR, LRCX, MSFT, NTAP, STX WDC,
EXPE, NKE, SCTY SPLK, SWI, UA and XONE.
Most of these charts showed gains on Tuesday.
Tuesday RUT Movers: GEVA, ALGT, SYNA, ISIS, PCRX, HMHC
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 = 203.91, 205.10, 208.97...
QQQ = 102.44, 103.11, 105.26…
IWM = 117.89, 118.72, 121.41…
Support Levels
SPY = 198.85, 196.77...
QQQ = 99.62, 98.20…
IWM = 114.36, 112.61...
Earnings this week:
Tuesday: ATI, BHI, CREE, DAL, JNJ, MS, NFLX
Wednesday: AXP, EBAY, FFIV, GD, SNDK, URI, UNH,
XLNX
Thursday: ALK, ALTR, ETFC, ISRG, KLAC, MXIM, SWKS, LUV,
SBUX, TRV, UNP, UAL, VZ
Friday: GE, HON, KSU, KMB, MCD, ST
Q4 Earnings Reaction
Positive Reactions – DAL,
BHI, SNX, LLTC, TSM
More than 10% - NFLX
Negative Reactions – JNJ,
AA, BAC, C, JPM, KBH, WFC,
More than -10% - KBH,
Reversal in progress –
Reversal of Initial Reaction –
The SPX Market Forecast is pointed down at 34.
___________________
Setups
Horizontal Breakout: GILD,
XLP, MNST, GME, CREE, TLT
Bull Flag: JCP,
PANW, SPWR, SUNE, TWTR
Gap Up: CREE, NFLX
Moves
Bull Flag Bounce: AMBA,
AVGO, BX, FEYE, GILD, RCL, SCSS, XLP
Gap Up: DAL, AAL,
ALK, LUV
______________________
59 out of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: ILMN, AAPL, VIP, NFLX, GILD, REGN, BIIB, AAPL,
YHOO, MU
Lagging NDX stocks included: SPLS, WYNN, CHTR, VIAB, FOXA, ESRX, CMCSA,
ISRG, DISH, MYL
Leading stocks > +2% on Tuesday:
SOHU, DAL, AMBA, CREE, UAL, BABA, SWKS, NTES, JD, MTW
Lagging stocks < -2.0% included:
CSIQ, RWLK, UNG, TSL, JASO, UPL, SUNE,
SPWR, BBY, VSLR, JCP, DGLY, SFUN, BBRY
Stocks to Watch on
Wednesday
Holding Above 30 DMA = 28
WFM, SIAL, CHKP, KRFT,
MNST, ISRG, SRCL, AVGO, HSIC, CA, CTSH, FISV, NXPI, PAYX, SIRI, CELG, DTV, ADP,
ATVI, BIIB, CERN, CSCO, CTRX, EA, GILD, NFLX, VOD, VRTX
Moving Above 30 DMA =
6
AAL, ILMN, LLTC, REGN, SYMC, TXN
Moving Below 30 DMA = 6
CMCSA, DISH, ESRX, MYL,
ROST, SPLS
Staying Below 30 DMA
WDC, CHRW, LMCA, TSCO, COST, DLTR, MAR, QCOM, FB, GMCR, LVNTA, STX, TRIP,
BBBY, DTV, EBAY, FAST, MDLZ, MSFT, ORLY, SBUX, VRSK, ADI, AKAM, AMAT, BRCM,
CHTR, DISCA, FOXA, KLAC, LBTYA, PCAR, PCLN, VIAB, ADSK, EXPD, MAT, MU, ADBE,
ALTR, CTXS, EQIX, GOOG, INTC, INTU, YHOO, AAPL, LRCS, NVDA, NTAP, SNDK, AMGN, XLNX,
ALXN, SBAC, AMZN, GRMN, BIDU, TSLA, VIP, WYNN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
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