Tuesday, July 14, 2015

Another Round of Record New Highs With Stocks Finishing For A 4th Straight Day Of Gains...MU Gains 11.36%...AMBA Finishes With 8.40% Gain...Numerous Setups For Horizontal & Diagonal Breakouts...

Eight sectors moved higher on Tuesday…the strongest sectors were XLV…XLE…and XLB…the weakest sector was XLU.
 
Breadth weakened slightly as advancers led decliners 1.78 to 1 on the NYSE and 1.71 to 1 on the NASDAQ.

Tuesday – weakened, advancers led
Monday – weakened, advancers led
Friday – strengthened, advancers led
Thursday – strengthened, advancers led
Wednesday – weakened, decliners led


SPY up .91 at 210.68 on 81.5 million shares
VIX down .53 at 13.37…
TNX down .31 at 23.99…
TLT up .38 at 116.07…
XLF up .06 at 25.00 on 22.4 million shares

AAPL down .05 at 125.61 on 31.7 million shares
FB down .42 at 89.68 on 26.6 million shares

Technical Commentary:
DIA +0.41%, SPY +0.43%, IWM +0.56%, QQQ +0.66%.

Stocks rallied on Tuesday with AMZN, TPX and many other stocks closing at new highs. 

AMBA +8.33, +8.4% following positive comments and an analysts raises their price target to 120.  MU +2.00, +11.36% follow a takeover offer from a Chinese company.


Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

Earnings Week of July 13
Tuesday – CSX, FAST, JNJ, JPM, WFC, YUM
Wednesday – BAC, DAL, INTC, NFLX, USB
Thursday – C, EBAY, GOOGL, GS, KEY, MAT, SCHW, SLB, UNH
Friday – GE, HON, STI


Q1 Earnings Reaction
Positive Reactions – NKE, AA, CSX, JPM, WFC



More than 10% -

Negative Reactions – CUDA, MU, FAST 


More than -10% - CUDA, MU

Reversal in progress 

Reversal of Initial Reaction – 



Short-term Chart Targets:
SPY = 208.02, 209.16, 209.96...
QQQ = 108.01, 108.86, 109.66
IWM = 124.51, 125.63…

Support Levels
SPY = 205.76, 204.22...
QQQ = 106.55, 105.75…
IWM = 122.82, 121.53...


The SPX Market Forecast turned up and is at 37.

___________________

Setups
Horizontal Breakout: QQQ, AXTA, C, DAL, IBM, JD, PANW, RCL (long term), SPLK, SUNE, TWTR, UBNT, V, W, CMGE, LNKD, VRSN, AAL, ESRX, MAR,
Diagonal Breakout: BABA, BX, OCN, SCTY, SWKS, BBY, KNDI, AAPL, AVGO, MSFT, QCOM, TXN
At Support: DAVE,
C- Pattern: GPRO, CYBR, SUM, SCTY, SWKS, CRM, CIEN, CTRP, AXTA, BX

Moves
New Highs:  AIG, CCL, MBLY, NCLH, SCHW, STI, TPX, AMZN, EBAY, ILMN,
H Breakout: CIEN, MS, RAX, CELG, GOOGL, MNST, TRIP,
D Breakout: AKAM, GILD, XLNX
MACD Divergence Bounce: UPL,   
Bounce: AMBA, CYBR, GLNG, SLCA, BBRY, GLW, STX,
Gap Up: GPRO, SPWR, Z, HOG, MFRM, MU, SNDK
C- Pattern: AMBA, NTES
Support Break: EMC

______________________

Watch List Stocks
Leading stocks > +2% on Tuesday: AMBA, FIT, GPRO, SPWR, Z, NTES, CYBR, GLNG, TWTR, SUNE, SLCA
                                                       
Lagging stocks < -2.0% included: EXPE, FOGO, ASNA, SEDG, ATI


66 of 100 NDX stocks closed higher on Tuesday.

Leading NDX 100 stocks included: MU, VRTX, ILMN, SNDK, NXPI, ALXN, STX, GOOG, GILD, AVGO

Lagging NDX stocks included: FAST, AMAT, EA, VIAB, KLAC, ISRG, MAT, ORLY, KHC, BIDU


6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up

No comments: