Seven of nine sectors
moved higher on Tuesday…XLE, XLY and XLF were the strongest sectors and XLU was the
weakest sector.
Breadth strengthened as advancers led decliners
1.54 to 1 on the NYSE and 1.64 to 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – weakened,
decliners led
Friday – mixed,
decliners led
Thursday – strengthened,
decliners led
Wednesday – weakened,
decliners led
SPY up .43 at 205.85 on 182.9 million shares, 79% above average volume
VIX down .62 at 18.23…
TNX up .04 at 23.35…
TLT down .82 at 117.46…
XLF up .09 at 24.38 on 62.8 million shares, 101% above average volume
AAPL up .90 at 125.42 on 44.3
million shares, 10% above average volume
FB down .04 at 85.77 on 23.2 million
shares, 6% above average volume
Technical Commentary:
IWM +0.47%,
QQQ +0.36%, SPY +0.21%, DIA +0.10%.
Buyers returned to stocks on Tuesday
after the
strong selloff on Monday following news that Greek debt talks had broken down
creating a high level of uncertainty in financial markets.
SPY, QQQ, IWM and DIA each formed a
bullish harami candle pattern.
(click image to enlarge)
SPY, QQQ and DIA finished lower for
the month of June and IWM closed higher for the month. Six months June 30, YTD return: IWM +4.7%,
QQQ +4.17%, SPY +1.09%,
DIA +0.04%
Sectors XLB, XLF, XLI, XLK, XLV and XLY also formed a bullish harami candle pattern.
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 = 206.72, 208.02, 209.16...
QQQ = 108.01, 108.86…
IWM = 126.60, 127.50…
Support Levels
SPY = 205.76, 204.22...
QQQ = 106.55, 105.75…
IWM = 123.94, 122.52...
The SPX Market Forecast is pointed down at 32.
___________________
Setups
Horizontal Breakout: TWTR
Diagonal Breakout:
SBUX, WBA, AXTA, BAC, C, CIEN, CYBR, ETFC, GPRO, JASO, JD, KNDI, MS, NTES, OCN,
SEDG, SFUN, SHAK, SLCA, SOHU, STI,
Bull Flag: IWM, ADBE, AMZN, CELG, CMCSA, DTV, EA, ESRX,
FB, GILD, ILMN, MNST, TRIP, AIG, AMBA, ASNA, CCL, FEYE, GIMO, GLNG, GME, KKD, MBLY,
NCLH, NKE, PANW, QIHU, RCL, SHOP, SINA, SPLK, SWKS, TASR, TPX, UA, UBNT, W,
Potential Bullish
Divergence: QQQ, AAPL, AKAM, COST, EBAY,
INTC, TXN, YHOO, BABA, BX, CTRP, HABT, SCTY, SUM, SUNE, TBT, VSLR, YELP
At Support: SONC, X, ZION
Moves
D Breakout: NFLX,
Bull Flag Bounce: TSLA
Bounce: PCLN, WYNN, YOKU, YY, TWTR
Gap Up: JUNO
______________________
Watch List Stocks
Leading stocks > +2% on
Tuesday: JUNO, SHOP, KNDI, TWTR, TASR, JD, SFUN, GOGO, NTES, CTRP, YOKU, YY, KWEB,
GIMO, FEYE, RCL, W, SPLK, EXPE, ETFC, SWKS
Lagging stocks < -2.0% included: ATI
61 of 100
NDX stocks closed higher and one was
unchanged on Tuesday.
Leading NDX 100 stocks included: WYNN, PCLN, TSLA, ILMN, BIIB, NFLX, CHKP,
ALXN, TRIP, EBAY
Lagging NDX stocks included: WDC, SNDK, STX, ATVI, ADP, MAT, BIDU, ADSK,
MSFT, WFM, COST
NDX Stocks to Watch on
Wednesday
Moving Above 30 DMA = 3
AMZN, BIIB, GILD
Moving Below 30 DMA = 2
KRFT, TSCO
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
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