One of nine sectors
moved higher on Tuesday…XLK, XLU and XLF were the strongest sectors and
XLB was the weakest for the second straight day.
Breadth weakened as decliners led advancers led 1.11 to 1 on
the NYSE and advancers led decliners 1.02 to 1 on
the NASDAQ.
Tuesday – weakened, mixed
Monday – strengthened,
advancers led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday –
strengthened, advancers led
SPY down .62 at 207.96 on 94.5 million shares, below average volume
VIX up .05 at 15.66…
TNX down .40 at 20.58…
TLT up 1.06 at 129.00...close above 30 DMA
XLF down .06 at 24.56 on 18.1 million shares
AAPL up 2.09 at 127.04 on 51.0 million shares, below average volume
FB up 1.29 at 79.36…on 22.1 million shares, below average volume
Technical Commentary:
IWM +0.27%,
QQQ +0.16%, SPY -0.30%, DIA -0.71%.
SPY which bounced on Thursday, tested
support on Friday, rose forming a large white candle on Monday tested Monday’s
S1 level today and held that short-term support level. Meanwhile IWM and QQQ rose
while DIA closed lower. Current trend
is up and strength in IWM and QQQ suggest the broad market up trend will
likely continue.
FOMC announcement at 2 pm EDT on
Wednesday
VSLR CEO appears on Fast Money and gets
mention on Street Talk. CS rates
outperform. JASO jumps on
positive Q4 earnings reaction.
Solar stocks VSLR +12.20%, CSIQ +8.19%,
TSL +7.73%, JASO +6.86%
and SCTY
+2.70% heat up on Tuesday.
AAPL +2.09
+1.67%, nice bull flag bounce
IWM +0.33, +0.27%, HBO setup
IWM +0.33, +0.27%, HBO setup
VSLR +1.33,
+12.20%, bull flag bounce & breakout
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 = 208.97...
QQQ = 107.57, 108.94…
IWM = 123.78, 124.85, 126.22…
Support Levels
SPY = 206.26, 205.05,
204.13...
QQQ = 105.73, 104.59,
103.44…
IWM = 122.77, 120.19,
119.83...
Earnings this Week
CTRP, JUNO, MFRM, NKE, XONE, YOKU,
Q4 Earnings Reaction
Positive Reactions – AVGO, CRM, MNST, ROST, ADSK, GOGO, SPWR,
ESRX, CMCSA, ANGI, CAR, INTU, JWN, RAX, MAR, NEM, PCLN, Z, TRIP, FEYE,
CSCO, NVDA, AKAM, WFM, Z, EEFT, TMH, CTLT, SKX, NTES, WCG, 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% - AVGO, MNST, CRM, SPWR, ANGI, UPL,
TRIP, FEYE, EEFT, TMH, MLM, SEE, LNKD, TWTR, UBNT, ONNN, AMZN,
BIIB, NFLX, FSL, EA, TUP, X
Negative Reactions – XONE, JCP, SPLK, LL, LC,
HPQ, SCTY, ZU, ZNGA, NTAP, BIDU, TSLA, HSIC, KRFT, SFUN, SOHU, 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% - LL, LC, TPX, ZU, ZNGA, EXPE,
GPRO, YELP, P, TPX, QCOM, FFIV, KBH,
Reversal in progress – ZNGA, AAL, AXP, BAC, BIDU, CHRW, FFIV,
GILD, ISRG, JNJ, KBH, KLAC, MSFT, NTAP, SOHU, STX
Reversal of Initial Reaction – AA, ALTR, ATML, C, BAC, IBM, KBH,
KSU, MCD, FOXA, GMCR, HSIC, JDSU, JPM, KSU, PCAR, QCOM, SFUN, SRCL, SYMC, WYNN,
XLNX, STT, TPX, TSLA,WDC, VRTX, WFC, ZION
The SPX Market Forecast is rising and at 59.
___________________
Setups
Horizontal Breakout: IWM,
AIG, BABA, CIEN, EXPE, FAS, JASO, JCP, JDSU, KKD, STI, SWKS, TLT, UAL, UNG, VSLR,
YELP, AKAM, AVGO, CELG, FB, ROST, SBUX, XLNX,
Diagonal Breakout: TXN,
BX, FEYE, FSLR, RCL, TWTR, UBNT, Z, CYBR, TPX, VRSN, BRCM, GILD, GMCR, ILMN,
INTC, LRCX, MAR, WFM,
Bull Flag: C, CMGE, LOCO, MS, ZION, CCL, KNDI, P, ZNGA,
AMZN, EBAY, GOOGL, MNST, SNDK, TRIP,
Potential Bullish
Divergence: ESI, SSYS, VXX, X, GRMN, NFLX
At Support: LC, SLCA, XONE, BIDU
Moves
New Highs: BBY, ETFC,
GOGO, RAX, SCSS, STI, SUNE, UA, MBLY, NCLH, MYL,
H Breakout: UA, UPL,
VSLR, MBLY
Breakout Test: AMBA,
Bull Flag Bounce:
CREE, CSIQ, SPLK, SPWR, TSL, VSLR, AAPL,
Bounce: CRM, JD, KKD,
TAN,
MACD Divergence Bounce:
NTES, SCTY, QIHU,
Gap Up: AAL,
Gap Down: MU
______________________
31 out of 100 NDX stocks
closed higher on Tuesday.
Leading NDX 100 stocks included: AAL, REGN, ALXN, FAST, MYL, VIP, ADBE, AAPL,
FB, LVNTA
Lagging NDX stocks included: MU, EA, MAT, STX, WDC, DISCA, AMAT, CHTR,
FOXA, WFM
Leading stocks > +2% on Tuesday:
VSLR, CSIQ, TSL, JASO, UPL, CTRP, UNG, KKD, JD, SCTY, GPRO, GOGO
Lagging stocks < -2.0% included:
XONE, CMGE, RCL, AMBA
Stocks to Watch on Wednesday
Holding Above 30 DMA = 53
MNST,
CTSH, NXPI, SIRI, ATVI, BIIB, DLTR, VRSK, COST, GOOG, EXPD, VIP LBTYA, LMCA, NVDA,
ROST, ADBE, CHTR, CMCSA, PAYX, ADI, AKAM, ADSK, AVGO, INTU, MAR, LVNTA, TRIP,
CHKP, DISCA, EBAY, SRCL, VRTX, CHRW, GMCR,SNDK, EQIX, REGN, MYL, ORLY, CERN,
FB, SBUX, TSCO, AAL, ALTR, AMGN, CELG, FISV, ISRG,
LLTC, SIAL, TXN, XLNX
Moving Above 30 DMA = 4
AAPL, ALXN, FAST, YHOO
Moving Below 30 DMA = 8
ADP, AMAT, BBBY, BRCM,
ILMN, LLTC, PCLN, VIAB
Staying Below 30 DMA
AMZN, FOXA, SBAC, QCOM, CSCO, CA, DISH, DTV, EA, LRCX, NTAP, WFM, BIDU,E SRX,
GILD, MDLZ, NFLX, WDC, CTXS, PCAR, HSIC, KLAC, MSFT,MU, SPLS, STX, TSLA, CTRX,
SYMC, VOD, WYNN, GRMN, KRFT, INTC, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
