Five out of nine sectors
moved higher on Tuesday…XLE, XLB and XLY were the strongest sectors and XLU
was the weakest.
Breadth strengthened as advancers
led decliners 1.19 to 1 on the NYSE and
1.38 to 1 on
the NASDAQ.
Tuesday – strengthened, advancers led
Monday – mixed, mixed
Friday – weakened,
decliners led
Thursday – weakened,
decliners led
Wednesday –
strengthened, advancers led
SPY down .21 at 211.36 on 91.5 million shares
VIX up .27 at 14.24…
TNX up .74 at 22.66…
TLT down 1.69 at 119.44…
XLF up .04 at 24.66 on 21.4 million shares
AAPL down .57 at 129.96 on 33.6
million shares
FB up .15 at 80.44
on 18.9 million shares
Technical Commentary:
QQQ -0.32%, DIA
-0.14%, SPY -0.10%, IWM
+0.19%.
The SPX continues its up a little
intermediate term trend of the past five months and its six day short
term sideways trend on Wednesday.
PVH +7.08%
led the SPX on a
positive earnings reaction, while ZION +6.71% gained
following upgrades from Evercore, Guggnheim, and price target increases
from RBC and Deutsche Bank following the announcement of a restructuring plan
on Monday.
Other SPX leaders included FCX, NE,
ESV, NUE, RIG, FTI, ETFC and CAM. XLE was the strongest sector as many
oil and gas stocks gained as oil rose 80 cents on Tuesday. Airlines DAL, AAL and LUV moved
lower.
The SPX MFC green line turned up today.
Semiconductors SOX which have gained
8.5% since May
6 pulled back today, perhaps in the first day of what may become a bull flag. Twenty-eight of the 30 stocks in the SOX
moved lower on Tuesday.
Recent IPO TANH +22.31% broke through horizontal resistance after
consolidating sideways since mid-April.
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 = 212.91, 213.91...
QQQ = 110.38, 111.16…
IWM = 125.47…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.76, 106.80, 105.55…
IWM = 122.52, 120.87, 120.24...
The SPX Market Forecast is turned up at 69.
___________________
Setups
Horizontal Breakout: GOGO,
JUNO, RCL, SINA (long term),
Diagonal Breakout: JD,
QIHU,
Bull Flag: BABA, CCL, CTRP, EXPE, FAS, P, AAPL, INTC, TXN
Moves
New Highs:
H Breakout: LNKD,
D Breakout: SOHU, YNDX, YOKU, WLT
Bull Flag Bounce: AIG,
BAC, SFUN, X,
Bounce: IWM, ATI, C, CCL, CYBR, ETFC, JCP, NKE, STI,
TSL, UBNT, UNG, YNDX, AA, BBRY, CAR, LOCO, LVS, SCSS, VJET, XONE, ZU, BIDU, ESRX,
GOOGL, GRMN, MAR,
MACD Divergence Bounce:
SLCA, SPWR, SWI, Z, ANR, FSLR, HOG, RAX, PCLN, WYNN,
Gap Up: ZION,
Gap Down: CTRP
Support Break: COST,
______________________
Watch List Stocks
Leading stocks > +2% on Tuesday:
YOKU, X, ZION, JUNO, SFUN, YNDX, SLCA, ETFC, JCP, ATI, SPWR, TSL, YELP, CYBR,
TASR
Lagging stocks < -2.0% included: SEDG, CTRP, DAL, AMBA, SUM,
34 of 100
NDX stocks closed higher on Tuesday
and one was unchanged.
Leading NDX 100 stocks included: VIP, PCLN, CTXS, WYNN, FAST, GOOG, TSCO, DLTR,
BIDU, PCAR
Lagging NDX stocks included: MU, NVDA, INTC, SNDK, AVGO, CHTR, VRTX, ADI, BIIB,
MYL
NDX Stocks to Watch on
Wednesday
Moving Above 30 DMA = 3
CTXS, GOOG, TSCO
Moving Below 30 DMA = 12
BBBY, CELG, CSCO, ISRG,
LMCA, MSFT, MU, PAYX, SIAL, SNDK, VRSK, VRTX,
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down/Neutral
