Three of nine sectors
moved higher on Tuesday…XLP, XLF and XLB were the strongest sectors and XLU
was the weakest.
Breadth strengthened
as decliners
led advancers 1.82 to 1 on the NYSE and
1.50 to 1 on
the NASDAQ.
Tuesday – strengthened, decliners
led
Monday – weakened,
decliners led
Friday – strengthened,
mixed
Thursday – weakened,
decliners led
Wednesday – mixed,
advancers led
SPY down .03 at 208.45 on 105 million shares
VIX down .82 at 14.47…
TNX up .36 at 24.17…
TLT down .93 at 116.54…
XLF up .06 at 24.70 on 25.3 million shares
AAPL down .38 at 127.42 on 56
million shares
FB unchanged at 80.67 on 16.9 million shares
Technical Commentary:
IWM -0.38%, QQQ
-0.17%, DIA – 0.06%, SPY
– 0.01%.
SPY forms a doji, QQQ forms a
spinning top and IWM forms a hammer as downward momentum slows and
buyers return 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 = 212.67, 213.78...
QQQ = 110.81, 111.16…
IWM = 125.93, 127.13…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.03, 122.52...
The SPX Market Forecast is pointed down at 30.
___________________
Setups
Horizontal Breakout: GIMO,
GPRO, JD, MBLY, SFUN, SLCA, STI, TASR, TPX, GILD,
Diagonal Breakout: NCLH,
NTES, SPLK, GRMN,
Bull Flag: AIG, CCL, CIEN, CTRP, CYBR, EXPE, FEYE, GOGO,
JASO, JUNO, MS, PANW, QIHU, RCL, SCHW, SEDG, SHAK, SOHU, SUM, SUNE, SVXY, SWKS,
UA, X, YOKU, YY, ZNGA, EMC, EBAY, FB,
Potential Bullish
Divergence: DGLY, DAL, NKE, SPWR, SWI, LUV
At Support: SPY, CSIQ, JCP, NKE, SPWR, VSLR, YELP, FSLR, LOCO, RAX, PCLN
Moves
New Highs: AMBA, ILMN,
NFLX, ZION
D Breakout: TASR
Bull Flag Bounce: C,
CCL,
Bounce: MBLY, ESI, AMZN, WBA, WFM,
MACD Divergence Bounce:
SWI, BBRY, UAL, AAL, MAR,
Gap Up: CMGE
Gap Down: AKAM
Support Break: P, CAR, TWTR, VRSN, MU, WDC
______________________
Watch List Stocks
Leading stocks > +2% on Tuesday:
CMGE, MBLY, AMBA, UNG, SFUN, TASR
Lagging stocks < -2.0% included: JUNO, CYBR, SOHU, VSLR, P, CSIQ, SCTY, LC,
SUNE, TSL
39of 100
NDX stocks closed higher on Tuesday
and three were unchanged.
Leading NDX 100 stocks included: NFLX, ILMN, ISRG, AAL, AVGO, CHTR, WBA, GILD,
KRFT, MAT
Lagging NDX stocks included: MU, AKAM, CTXS, VIP, VRTX, BIIB, AMGN, SNDK,
SPLS, DISCA
NDX Stocks to Watch on
Wednesday
Moving Above 30 DMA = 3
ISRG, ORLY, VRSK
Moving Below 30 DMA = 4
ADBE, NXPI, SPLS, SRCL
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
