One sector moved
higher and one was unchanged on
Tuesday…XLU, XLY and XLP were the
strongest sectors and XLB edged out XLE as the weakest.
Breadth was strengthened as decliners led
advancers 1.14 to 1 on
the NYSE and
1.05 to 1 on the NASDAQ.
Tuesday – strengthened,
decliners led
Monday – NASDAQ
strengthened, decliners led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday –
strengthened, advancers led
SPY down .57 at 202.08 on 214.5 million shares, above average volume
VIX up 0.96 at 20.56…
TNX down .22 at 18.90…
TLT unchanged at 131.82...
XLF down .08 at 23.84 on 37.2 million shares
AAPL up .97 at 110.22 on 67.1 million shares
FB down .27 at 76.45…on 25.1 million shares
Technical Commentary:
IWM +0.08%,
QQQ -0.03%, DIA -0.15%,
SPY -0.28%.
S&P futures traded higher
overnight and the SPX 2,023, opened higher and rose for the
first 90 minutes after which volatility jumped and the SPX fell, then rose
before falling into the close. Some
attribute the late selloff to Germany’s concerns over European monetary
policies. Others point to
continued weakness in oil, which hit a new 9-year low of 44.20 on Tuesday.
Key short-term support continues to
be last Tuesday’s low at 1,992.
The World Bank lowered its forecast for global
growth to 3% from 3.4%, an increase over 2014 global growth of
2.6%. It sees economic troubles
continuing in the Eurozone and emerging markets.
Q4 earnings season is underway as AA
-0.37, -2.29% initially moved higher on better than expected
earnings and then reversed as the broad market turned lower on Tuesday.
JPM and WFC to release earnings
Wednesday morning and INTC Thursday after the close.
LLTC +1.94%,
+4.27% gained
after-hours following an EPS beat and raised guidance for the current quarter. Watch for a potential lift in SOX on
Wednesday.
SNX +6.90, +9.72% beats revenues, EPS raises guidance.
KBH -2.70, -16.29% reported
strong revenues, earnings, warned of margin pressure and weak demand.
MNST 113.11, price target raised to 130 by Stifel Nicolaus.
RUT Movers: ABY, SNX, ARNA, PTCT, CLVS, AXDX, PCRX, PRXL,
ADTN
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...
Q4 Earnings Reaction
Positive Reactions – SNX,
More than 10% -
Negative Reactions – AA,
KBH,
More than -10% - KBH,
Reversal in progress –
Reversal of Initial
Reaction –
The SPX Market Forecast is pointed up at 53.
___________________
41 out of 100 NDX stocks
closed higher and two were unchanged on Tuesday.
Leading NDX 100 stocks included: CELG, SRCL, VRTX, AAL, NFLX, BIIB, CMCSA,
AMZN, MNST, TSLA
Lagging NDX stocks included: GILD, CTXS, SNDK, ILMN, MU, ALXN, MAT, GMCR,
DLTR, ALTR
Leading stocks > +2% on Tuesday:
VSLR, UNG, SPWR, DGLY, UBNT, SCTY, JASO, SUNE, GME,
Lagging stocks < -2.0% included:
GPRO, XONE, AMBA, FEYE, BBRY, GME, MFRM,
AA, JCP, X
Stocks to Watch on
Wednesday
Holding Above 30 DMA = 25
ROST, SPLS, WFM, SIAL,
BIIB, CHKP, KRFT, VRTX, MNST, ISRG,
SRCL, AVGO, CERN, HSIC, TSCO, WDC, CA, CSCO, CTSH, FISV, NXPI, PAYX, SIRI,
CELG, LMCA
Moving Above 30 DMA =
2
CHRW, CMCSA
Moving Below 30 DMA = 7
COST, DLTR, EA, GILD,
ILMN, MAR, QCOM
Staying Below 30 DMA
AAL, ADP, ESRX, FB, GMCR, LVNTA, STX, TRIP, BBBY, CTRX, DTV, EBAY, FAST,
MDLZ, MSFT, MYL ORLY, SBUX, VRSK, ADI, AKAM, AMAT, BRCM, CHTR, DISCA, FOXA,
KLAC, LBTYA, LLTC, NFLX PCAR, PCLN, VIAB, ADSK, EXPD, MAT, MU, ADBE, ALTR,
CTXS, DISH, EQIX, GOOG, INTC, INTU, SYMC, TXN, YHOO, AAPL, LRCS, NVDA, REGN,
NTAP, SNDK, AMGN, VOD, XLNX, ALXN, ATVI, SBAC, AMZN, GRMN, BIDU, TSLA, VIP,
WYNN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
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