Eight of nine sectors
moved higher on Tuesday…XLU, XLV and XLK were the strongest sectors and
XLE was the weakest.
Breadth strengthened as advancers led decliners 1.31
to 1 on the NYSE and 1.56 to 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – Mixed,
decliners led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
SPY Up 2.18 at 206.81 on 96.1 million shares
VIX down 1.32 at 17.23…
TNX up .43 at 19.91…
TLT down 1.04 at 129.71...
XLF up .19 at 24.21 on 32.3 million shares
AAPL up 2.30 at 122.02 on 62.0 million shares
FB up .75 at 75.19…on 15.8 million shares
Technical Commentary:
QQQ +1.56%,
SPY +1.07%, DIA +0.80%, IWM +0.64%.
The financial sector XLF broke out of horizontal resistance
on Friday, pulled back in a breakout test on Monday and bounced to
multi-week high today leading the broader SPX which could not hold
its intra-day breakout on Friday and formed a flag like pattern on
Monday. Today the SPX +1.07% led XLF and closed above 2015 resistance
to make its highest close of the year and turning positive +0.47% for 2015.
The energy sector XLE -0.04,
-.05% was lower as oil fell CL -$1.49.
AAPL +2.30,
+1.92% made a
new all-time closing high and became the first U.S. company to have
a $700 billion market cap based on its closing price.
Semiconductors
SOX +22.49, +3.39% soared on the
strength of MU, CAVM, AVGO, QCOM, LRCX and SWKS. SWKS signaled a bull flag bounce entry.
MU +2.74,
+9.66% and MAR
+5.24% led the NDX while MLM +15.17% and SEE +10.60%
both on positive earnings reactions led the SPX.
AKAM gapped higher in after-hours on a positive earnings reaction.
RUT Movers: XON, MOH, AGIO, CAVM, NBIX, KITE
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 = 206.42, 208.97...
QQQ = 104.58, 105.25…
IWM = 119.45, 120.82, 121.41…
Support Levels
SPY = 203.66, 202.51, 201.62...
QQQ = 102.10, 101.65, 100.48…
IWM = 117.38, 116.57,
115.32...
Earnings this week:
Monday: NTES, SOHU,
Tuesday: AKAM, CERN, REGN,
SFUN, TRIP
Wednesday: AMAT, BIDU, FEYE, HSIC, NTAP, SCSS,
TSLA, WFM, Z, ZU
Thursday: JD, KRFT, ZNGA
Friday:
Q4 Earnings Reaction
Positive Reactions – ADP,
ATVI, CTSH, FISV, ONNN, ORLY, SIRI, UA, VRSN, AMZN, AAPL, ALXN,
BRCM, BX, CAVM, CELG, EA, FB, FSL, GLW, HOG, JNPR, TSCO, TSS, TUP, VIAB, WDC,
X, NFLX, ALK, BHI, CREE, DAL, EBAY, ETFC, GE, HON, KMB, LUV, MXIM, SBUX,
SWKS, TRV, UAL, UNH, UNP, SNX, LLTC, TSM
More than 10% - MLM, SEE, LNKD, TWTR, UBNT, ONNN, AMZN,
BIIB, NFLX, FSL, EA, TUP, X
Negative Reactions – ATML,
CHRW, FOXA, GILD, GMCR, SRCL, SYMC, WYNN, QCOM, JDSU, RCL, BABA, PCAR, YHOO, MSFT,
STX, VRTX, AAL, ZION, AXP, ALTR, FFIV, IBM, ISRG, JNJ, KLAC, KSU, MCD,
STT, XLNX, AA, BAC, C, JPM, KBH, WFC,
More than -10% - EXPE, GPRO, YELP, P, TPX, QCOM, FFIV, KBH,
Reversal in progress – AXP, ISRG, JNJ, JPM, QCOM, STT,
Reversal of Initial Reaction – AA, BAC, C, IBM, KBH, KSU, MCD, WFC,
ZION
The SPX Market Forecast rising at 65.
___________________
Setups
Horizontal Breakout: SPY,
ADSK, AVGO, INTC, MU, WDC, WYNN, XLNX, C, CREE, CRM, CSIQ, FSLR, IBM, JCP, LVS,
Diagonal Breakout: ADBE,
CELG, ESRX, GOOG,
Bull Flag: IWM, AMZN, COST, EA, ATI, BX, ETFC, GOGO, LOCO,
QIHU, SPLK, STI, SWI, TWTR, UA, V, ZION, UPL,
Potential Bullish Divergence: GPRO,
Gap Up: AKAM
Moves
New Highs: AAPL, SBUX,
KKD, LNKD,
H Breakout: AAPL, BRCM,
PCLN, SBUX, TXN, MFRM, MS, RAX, XONE
Bull Flag Bounce: SPY,
NFLX, WDC, FAS, FSLR, SWKS,
Bounce: FB, LRCX,
MAR, MNST, CREE, NTES,
MACD Divergence Bounce: AAL, MU
______________________
92 out of 100 NDX stocks
closed higher and one was unchanged on Tuesday.
Leading NDX 100 stocks included: MU, MAR, AVGO, QCOM, WYNN, LRCX, AMAT, AAL,
BRCM, ALXN
Lagging NDX stocks included: MAT, SPLS, TSLA, BIIB, STX, ISRG, VIAB
Leading stocks > +2% on Tuesday:
XONE, NTES, YELP, JUNO, FSLR, UAL, LVS, KKD, SWKS, UNG, CREE, RCL, FEYE, PANW,
BBY, MFRM, GLW, RAX, GME, FAS, ETFC
Lagging stocks < -2.0% included:
CMGE, VXX, SLCA, ESI, SPLK, TSL, TWTR
Stocks to Watch on Wednesday
Holding Above 30 DMA = 49
WFM, SIAL, KRFT, MNST, CTSH, FISV, NXPI, SIRI, ATVI,
BIIB, CERN, EA, NFLX, ILMN, SBAC, SBUX,
AMZN, DLTR, TSCO, VRSK, AAPL, COST, GOOG, BBBY, CTRX, DISH, EXPD, GRMN, ORLY,
TSLA, VIP, ADP, BRCM, CA, CTXS, DTV, LBTYA, LMCA, NVDA, ROST, TXN, ADBE, CHTR,
CMCSA, PAYX, ADI, CELG, LLTC, AKAM
Moving Above 30 DMA = 13
ADSK, AMAT, AVGO, EBAY, HSIC, INTU, LRCX, MAR,
MU, NTAP, PCLN, VOD, WYNN
Moving Below 30 DMA = 0
Staying Below 30 DMA
EQIX, LVNTA, REGN, SRCL, SYMC, CHRW, GILD, SPLS, ALXN, AAL, FB, VRTX, BIDU,
CHKP, MYL, CSCO, ESRX, MSFT, YHOO, FAST, GMCR, INTC, ISRG, KLAC, MDLZ, WDC, QCOM,
STX, TRIP, DISCA, FOXA, PCAR, VIAB, MAT, ALTR, SNDK, AMGN, XLNX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
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