Two of nine sectors
moved higher on Tuesday…XLV, XLE and XLB were the strongest sectors and XLU was the weakest.
Breadth weakened
as decliners
led advancers 1.25 to 1 on the NYSE and 1.14 to 1 on
the NASDAQ.
Tuesday – weakened, decliners led
Monday – strengthened, advancers
led
Friday - Holiday
Thursday – strengthened,
advancers led
Wednesday – mixed, mixed
SPY down .55 at 207.28 on 81.2 million shares, 21% below average volume
VIX up .04 at 14.78…
TNX down .11 at 18.93…
TLT up 1.09 at 131.09…
XLF down .13 at 24.12 on 18.1 million shares, 35% below average volume
AAPL down 1.34 at 126.01 on 35.0 million shares, 32% below average volume
FB down .12 at 82.32…on 17.4 million shares, 29% below average volume
Technical Commentary:
IWM -0.64%, SPY
-0.26%, QQQ -0.17%,
DIA -0.10%.
The SPX -4.29,
-0.21% which was positive for most of the day, gave up its gains in the last 30
minutes of trading and finished slightly lower. SPX leaders included JNPR, ALXN, TAP,
FDX, CNX, CCL, STX, VRTX, MYL, ADSK, NRG, PVH, ENDP, TDC and ABBV.
Oil gained another 1.26 on Tuesday and several leading
stocks in the SPX were oil & gas stocks including: RRC, QEP, DO, SWN, CVX, CHK, ESV and NE.
Healthcare XLV was the leading sector on Monday
and several healthcare stocks were NDX leaders. NDX point leaders included AMGN,
GILD, INTC, BIIB, ALXN, CSCO, VRTX and MYL.
The DJIA
was led by gains in CVX, JNJ, BA, V, XOM and INTC.
TWTR +2.03,
+3.99% on 112%
above average volume as buyout rumors resurface.
Earnings season unofficially begins Wednesday
with AA earnings after the close.
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 = 208.61, 211.11...
QQQ = 106.82, 109.07…
IWM = 125.94…
Support Levels
SPY = 204.12, 203.49...
QQQ = 104.24…
IWM = 122.90, 121.54...
Q1 Earnings Reaction
Positive Reactions – KMX, DGLY, CTRP,
JUNO, KBH, MFRM, NKE,
More than 10% - DGLY, CTRP, JUNO,
Negative Reactions – MU, YOKU, XONE,
More than -10% - YOKU,
Reversal in progress –
Reversal of Initial
Reaction –
The SPX Market Forecast is
pointed down at 38.
___________________
Setups
Horizontal Breakout: SPY,
ATI, BX, CMGE, CRM, FAS, FEYE, GPRO, NTES, QIHU, SPLK, SWI, UA, UPL, ZION, CMCSA,
PCLN, TSLA, XLNX,
Diagonal Breakout: IWM,
AAPL, JASO, JCP, MS, NKE, RAX, SCHW, SPWR, TLT, UBNT, V, AVGO, GILD, NFLX,
SBUX, TXN,
Bull Flag: AMBA, CSIQ, ETFC, GLD, JUNO, MFRM, RCL, SCSS,
VSLR, ZNGA, EA, ESRX, FB,
Potential Bullish
Divergence: GOOGL
Moves
New Highs: CCL, CTRP,
JD, SLCA, SUNE, TWTR
H Breakout: TWTR,
D Breakout: SWKS, ADSK
Bull Flag Bounce: MBLY,
PANW, SOHU, X, MYL,
Bounce: CMGE, SPLK,
MACD Divergence Bounce: STX, WDC
______________________
38 out of
100 NDX stocks closed higher and one was unchanged on Tuesday.
Leading NDX 100 stocks included: ALXN, STX, VIP, VRTX, MYL, ADSK, CHKP, AMGN,
EA, BIIB
Lagging NDX stocks included: WYNN, MU, VIAB, FAST, CHTR, GRMN, LRCX, MAR,
CERN, AAL
Leading stocks > +2% on Tuesday:
CMGE, TWTR, JD, SPLK, MBLY, FEYE, SSYS, UPL, PANW
Lagging stocks < -2.0% included: JCP, JUNO, TSL, Z, TPX
Stocks to Watch on Wednesday
Holding Above 30 DMA = 30
MNST,
NXPI, COST, LVNTA, SRCL, CERN, FB, SIAL, KRFT, ORLY, ADI, ALTR, BBBY, EA, EQIX,
VRSK, XLNX, CTRX, ESRX, FISV, ISRG, MDLZ, CHTR, LMCA, VIP, CA, CTXS, DISCA, HSIC, TSLA
Moving Above 30 DMA =
4
AKAM, CHKP, MYL, REGN
Moving Below 30 DMA = 6
AAPL, AMZN, DLTR, DTV,
SBUX, SIRI
Staying Below 30 DMA
BIDU, CTSH, INTU, YHOO, AVGO, REGN, SPLS, AAL, AKAM, AMGN, BIIB, EXPD, MYL, ROST, ATVI,
CHKP,FAST, PAYX, PCAR, GOOG, ALXN, CELG, CHRW, EBAY, FOXA, MAR, MSFT, SBAC,
SNDK, TRIP, TSCO, TXN, VRTX, BRCM, CMCSA, KLAC, LBTYA, LLTC,NVDA, PCLN, VIAB,
ADBE, ADP, GILD, ILMN, ADSK, AMAT, GMCR, QCOM, CSCO, DISH, LRCX, NTAP, WFM,
NFLX, WDC, MU, STX, SYMC, VOD, WYNN, GRMN, INTC, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral/Up
