All nine sectors moved
lower on Tuesday…XLP, XLF and XLY were the strongest sectors and XLU
was the weakest.
Breadth weakened as decliners
led advancers 3.98 to 1 on the NYSE and 3.08 to 1 on
the NASDAQ.
Tuesday – weakened, decliners led
Monday – weakened
slightly, advancers led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
Wednesday – weakened,
decliners led
SPY down 2.42 at 208.90 on 113.3 million shares, 23% above average volume
VIX up 1.46 at 14.31…
TNX up .41 at 21.76…
TLT down .17 at 122.66…
XLF down .36 at 24.58 on 30.6 million shares, 24% above average volume
AAPL down 2.90 at 125.80 on 49.2 million shares, 7% above average volume
FB down 1.25 at 77.56
on 22.3 million shares,
11% below average volume
Technical Commentary:
DIA -0.79%, SPY
-1.15%, IWM -1.27%, QQQ
-1.63%.
Shanghai
Composite dropped 4.1% after brokers increased margin requirements and U.S.
futures fell overnight and U.S. indexes continued to fall on Tuesday. Oil
Oil closed at 60.98, its highest close since Dec.
10. This lifted many oil related stocks including:
NE, HP, DO, ESV, RIGH, CAM, NOV, FTI, MUR, COP, MPC.
The Euro resumed its recent uptrend
on Tuesday.
Financial stocks, XLF, which were stronger in
the morning on higher interest rates closed lower.
The SPX/SPY, pulled back
below its bull flag pattern entry today.
We now watch for the SPY to hold above last week’s support low
and will have to wait for new highs.
GLNG +7.37,
+19.58% soars on contract win Equatorial Guinea for GoFLNG
vessel.
Semiconductors SOX failed
to follow through on Friday’s strength and moved lower on Tuesday. SOX fell below S2 of Friday’s large
white candle and back into their trading range of the past five weeks. Leaders SWKS, AVGO and NXPI had
large retracements on Tuesday.
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 = 210.33, 210.70,
211.40...
QQQ = 109.17…
IWM = 123.44, 125.55,
127.13…
Support Levels
SPY = 207.62, 205.39...
QQQ = 107.06, 106.50, 105.55…
IWM = 120.66, 119.47...
Earnings Week of April 27 – AAPL, CHRW, AET, COH, F, GLW, PFE, UPS, VLO, AKAM, ESRX,
VRSK, WDC, WHR, WYNN, GPRO, GRMN,
MDLZ, SLCA, SWI, TPX, X, BIDU, MAR, NXPI, VRTX, CAH, LLL, XOM, YELP, ADP, CELG,
TASR, VIAB, UPL, AIG, CME, EXPE, FEYE, FSLR, LNKD, SWKS, V, GILD, CVX, MCO, WY
Earnings Week of May 4 – CMCSA, CTSH, DO, HSIC, APC, DVA, EOG, XEC, ADM, CAR, DIS, DISCA,
DTV, HCA, ICE, K, NBL, SFUN, ALL, CTRP, DVN, EA, FISV, FOSL, FTR, LC, NFX,
NWSA, PXD, SCTY, Z, CHK, DDD, EXPD,
ATVI, CF, FOXA, GMCR, MET, MRO, PRU, RIG, TSLA, WFM, APA, BABA, BDX, GOGO,
PCLN, REGN, SIAL, SUNE, CA, CBS, CERN, CSIQ, CYBR, LBTYA, MCHP, MNST, NVDA,
SPWR, UBNT, ZNGA, JD, LMCA
Q1 Earnings Reaction
Positive Reactions – CTSH, DO, HSIC, ICE, MNK, EL, OCN, MRC, SWKS, TER,
EXPE, TASR, AET, AIG, CME, F, FEYE,
GILD, LEG, LYV, MDLZ, NXPI, SLCA, TDS, TPX, UPL, UPS, VRSK, WY, AMZN,
MSFT, JNPR, SBUX, GOOGL, CVX, AAL, CTXS, CAM, EBAY, FFIV, ORLY, SWK, T, ALTR,
BAX, BRCM, DOW, EMC, HP, ILMN, KO, MCD, NDAQ, YUM, ABT, ATI, LRCX, PCAR, ARMH,
AMGN, HAS, CHKP, HAL, MS, STI, NFLX, CE, MAT, C, DAL, FAST, INTC, JPM,
LLTC, STZ, WBA, KMX, DGLY, CTRP, JUNO, KBH, MFRM, NKE,
More than 10% - GPRO, OCN, MRC, TER, AMZN, MSFT, ATI, HAS, NFLX, CE, DGLY,
CTRP, JUNO,
Negative Reactions – APC, CAR, DISCA, DTV, DVA,
EOG, HCA, K, NBL, SFUN, XEC, AAPL, AKAM, ATHN, BIDU, CAH, CELG, CHRW,
COH, ESRX, FSLR, GLW, GRMN, LLL, MAR, PFE, SWI, TWTR, V, VIAB, VLO, WDC, WHR,
HBI, BIIB, STT, TXN, XLNX, MMM, SRCL, SWN, ALXN, CMG, CREE, DHR, FB, FCX,
HSY, ISRG, KLAC, PEP, PG, BA, HOG, TRV, UA, UNP, URI, YHOO, DD, BHI, RCL,
AXP, BAC, GS, JNJ, SNDK, AA, BBBY, MU, GME, YOKU, XONE,
More than -10% - LNKD, YELP, TWTR, X, WYNN, NOW, AMD, YOKU,
Reversal in progress –
GS,
Reversal of Initial
Reaction – AA, WDC,
FCX, GME, MU, YOKU, XONE
The SPX Market Forecast is pointed down at 68, be defensive now.
___________________
Setups
Horizontal Breakout: AIG,
C, SCHW, UPL,
Diagonal Breakout: SPY,
CTRP, SOHU, BRCM, CMCSA, MU, WDC, XLNX,
Bull Flag: QQQ, AMBA, CIEN, CRM, EXPE, GPRO, IBM, MBLY,
NTES, PANW, RAX, SPLK, SWKS, TPX, VSLR, ADBE, AMZN, EBAY, GILD, GOOGL, INTC,
LRCX, MSFT, SBUX, STX
Gap Up: EA, FOSL, LC, HLF,
ZAGG,
Gap Down: ZU, NDLS,
Bear Flag: BBY, SCSS, WYNN
At Support: FEYE, IWM, QIHU, SWI, TLT, UA, V, AAL, AAPL, ADSK, ESRX,
FB, GRMN, MU, NTAP, TXN
Moves
New Highs: TASR,
H Breakout: ATI, CLF,
SDRL
Breakout Test: AA, BX, CMGE, DGLY, FAS, MS, STI,
Bull Flag Bounce: AKAM
Gap Up: NFLX, MNK,
KMT, GLNG
Gap Down: DAL
Bear Flag: CCL, RCL, NCLH, AVGO, CELG, ROST, TRIP, WBA, YHOO
Support Break: BIDU, MAR,
______________________
6 of 100
NDX stocks closed higher and one was
unchanged on Tuesday.
Leading NDX 100 stocks included: NFLX, TSLA, AKAM, CHKP, KRFT, CTRX, VIP
Lagging NDX stocks included: BIDU, AAL, AVGO, FAST, VRTX, ESRX, CHRW, KLAC,
MAR, CTSH
Leading stocks > +2% on Tuesday:
VXX, TASR
Lagging stocks < -2.0% included: DGLY,
QIHU, FEYE, CYBR, LC, SWKS, GPRO, JUNO, AMBA, PANW, MFRM, YOKU, SVXY, Z, DAL,
SCTY, SUNE, JCP, CIEN, SLCA, RCL, FAS, SOHU, BBRY, SPLK, EXPE, CCL, NTES
Stocks to Watch on
Wednesday
Holding Above 30 DMA = 40
SIAL, ORLY, VRSK, XLNX, CTRX, MDLZ, VIP, CTXS, TSLA,
MYL, DTV, NFLX, PCLN, SBUX, PCAR, STX, VOD, MAT, AKAM, CSCO, INTC, MU, SYMC,
AMZN, EA, MSFT, BRCM, LRCX, FAST, INTU, EBAY, LBTYA, NVDA, ALTR, SPLS, WDC, DISCA, GILD, MNST, REGN
Moving Above 30 DMA = 0
Moving Below 30 DMA = 22
AAPL, ADBE, ADI, ADP,
ATVI, CHTR, CMCSA, CTSH, ESRX, FOXA, HSIC, ILMN, KLAC, LLTC, LMCA, LVNTA, NTAP,
NXPI, PAYX, QCOM, VIAB, VRTX
Staying Below 30 DMA
GMCR, MAR, SIRI, KRFT, VIP, BIDU, CA, CHKP, GOOG, TSCO, AAL, CERN, CMCSA,
FISV, GRMN, WYNN, ADSK,
AMGN, CELG, SBAC, SPLS, ALXN, BIIB, FB, SRCL, AVGO, ISRG, TXN, YHOO, WBA, DLTR, BBBY, COST, EXPD, ROST, CHRW, SNDK,
TRIP, AMAT, DISH, WFM
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
