Eight of nine sectors
moved higher on Tuesday…XLU, XLP and XLF were the strongest sectors and XLB was the
weakest sector.
Breadth strengthened as advancers led decliners
1.47 to
1 on the NYSE and decliners led
1.41 to 1 on
the NASDAQ.
Tuesday – strengthened, advancers led on NYSE
Monday – weakened,
decliners led
Friday – Independence
Day Holiday
Thursday – weakened,
mixed
Wednesday –
strengthened, advancers led
SPY up 1.30 at 208.02 on 173.8 million shares, 60% above average volume
VIX down .92 at 16.09…
TNX down .47 at 22.31…
TLT up 1.11 at 119.26…
XLF up .05 at 24.59 on 51.2 million shares, 60% above average volume
AAPL down .31 at 125.69 on 46.9
million shares, 22% above average volume
FB down .33 at 87.22 on 33.1 million
shares, 49% above average volume
Technical Commentary:
SPY +0.63%,
DIA +0.54%, QQQ +0.25%, IWM +0.11%.
After the close the EU gave Greece an ultimatum to create
a plan of economic reforms by this weekend.
Sellers were in control from the open until shortly before
noon ET when buyers took control and the SPX rose nearly 40 points
from 2,044 to 2,083.
Check the breakout moves and setups on NKE, EA, GME,
JCP, WYNN, GPRO, MBLY and ADSK.
(click image to enlarge)
The NDX was led by gains in WYNN, ADSK,
COST, EA, AAL, WBA, DISCA, CA and STX.
Q2 earnings season starts tomorrow
with AA earnings after the close.
Chinese ADRs continue to collapse as QIHU,
KNDI, SOHU, YOKU, KWEB, SINA, YY, SFUN and JD have each fallen
15% or more in value in less than a month.
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 = 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 24.
___________________
Setups
Horizontal Breakout: SPY,
QQQ, MBLY, RCL, SUNE, SVXY, UA, ADSK, CELG, COST, ILMN, ROST
Diagonal Breakout: IWM,
AMBA, BAC, C, CIEN, CRM, CTRP, CYBR, ETFC, EXPE, FAS, FEYE, GIMO, KKD, MS, OCN,
SHOP, SPLK, STI, SWKS, TASR, W, ZION, ESRX, FB,
Bull Flag: AIG, ASNA, ADBE, CMCSA, GILD, TRIP, TSLA,
Potential Bullish
Divergence: BABA, PANW, SCHW, AVGO, INTC,
LRCX
At Support: BABA, Z
Moves
New Highs: EA, GME, NKE,
TPX,
H Breakout: EA, GME, JCP,
NKE, TLT, WYNN
D Breakout: AXTA, NCLH, SONC, SUNE, UBNT, WBA
Bull Flag Bounce: CCL,
MNST,
MACD Divergence Bounce:
RCL, SCTY, SOHU,
Bounce: GPRO, VSLR, COST
Gap Down: KWEB, QIHU, SINA, TSL, YY,
C- Pattern: ESPR,
OPK, IPXL, BURL, RSPP
______________________
Watch List Stocks
Leading stocks > +2% on Tuesday: UBNT, VSLR, SVXY, JCP, FIT, SUNE,
GME, SCTY, SONC, GPRO, AXTA, NCLH, RCL
Lagging stocks < -2.0% included: JASO, SHAK, QIHU, KNDI, SOHU, YOKU, SEDG,
TSL, VXX, KWEB, SINA, GOGO, YY, JD, JUNO, HABT, SFUN, YELP, NTES, LC, FOGO,
PANW, CYBR, ZION
68 of 100
NDX stocks closed higher on Tuesday.
Leading NDX 100 stocks included: WYNN, ADSK, COST, EA, AAL, WBA, DISCA, CA, STX
Lagging NDX stocks included: TSLA, NVDA, LBTYA, LRCX, VRTX, AVGO, YHOO
NDX Stocks to Watch on
Wednesday
Moving Above 30 DMA = 9
CA, CHRW, CHTR, COST, DISCA, ESRX, FAST, REGN, WBA
Moving Below 30 DMA = 1
CTXS
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
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