Five sectors moved
higher on Tuesday…XLI, XLF, XLU were the strongest
sectors while XLV was the weakest sector.
Breadth strengthened as advancers led decliners 1. 60 to 1 on the NYSE and decliners led
advancers 1.06 to 1 on the NASDAQ.
Tuesday – strengthened,
mixed
Monday – weakened, mixed
Friday – weakened, mixed
Thursday – strengthened, advancers
led
Wednesday – strengthened, advancers
led
SPY down .28 at 203.09 on 78.4 million shares, 38% below average volume
VIX up .77 at 15.75…
TNX up .43 at 20.71…
TLT down .76 at 122.83…on
6.4 million shares
XLF up .14 at 23.67…on
19.4 million shares, 46% below average volume
AAPL up 2.04 at 113.77 on 48.9
million shares, 4% below average volume
FB down 1.47 at 97.00 on 30.8 million
shares, 12% above average volume
Technical Commentary:
DIA -0.06%, SPY -0.14%, IWM -0.14%, QQQ
-0.51%,
The DJIA finished down
just 13 points following earnings reactions that led to a large
selloff in IBM -5.75%, offset by impressive gains in UTX +3.88%,
TRV +2.47% and VZ +1.21%.
Financial stocks XLF
closed just above short-term horizontal resistance.
Other positive earnings
reactions included RF +3.02%, ZION +1.65%, HA +1.19%,
Negative earnings
reactions included HOG -13.92%, ATI -11.66%, LMT -0.91%,
After the close earnings reactions
included ISRG +7.76%, MANH +2.73%, CMG
-7.18%, VMW -4.01%, IBKR -1.65%, and YHOO +1.40%.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Earnings this Week:
Monday – HAL, HAS, HA, IBM, MS, STLD, UTX, ZION
Tuesday – ATI, CMG,
HOG, IBKR, ISRG, LMT, MANH, RF, TRV, VZ,
VMW, YHOO
Wednesday – ABT, AXP, BHI, BA, CA, CTXS, KO, EBAY, GM, LVS, OSTK, SNDK, TXN, TSCO,
Thursday – MMM, ALK, AMZN, T, ETFC, FCX, GIMO, JNPR, LLY, NDAQ, NUE, SIRI, SKX, LUV, SWK, UA, UAL, VRSN,
Friday – AAL, RCL, STT, WHR
Short-term Chart Targets:
SPY =...204.15, 205.38…
QQQ = 108.46, 109.03…
IWM = 116.30, 118.55…
Support Levels
SPY = 201.92, 198.94...
QQQ = 105.49…
IWM = 112.66...
The SPX Market Forecast is pointed up at 93.6.
__________________
Setups
Horizontal Breakout: SPY, QQQ, IWM, BAC, C, CIEN, EXPE, GPRO, JCP,
SCHW, ULTA, PCLN,
Diagonal Breakout: BX, CCL,
SEDG, SUM, SUNE, ZION,
Bull Flag: CRM, FSLR, GLD, HPQ, NKE, SOHU, STI, SVXY,
V, ADI, ADBE
Potential Bullish
Divergence: AMBA, PANW, PLAY, SWKS
At Support: RPC, RUN, SHOP, TASR, NFLX
Moves
New Highs: AIG, SINA, SWI, TSL, VRSN, W,
H Breakout: FAS, CTRP,
GME
Bull Flag Bounce: JBL,
SCHW,
MACD Divergence Bounce:
BBY,
Bounce: AAPL,
Gap Up: ETSY,
Gap Down: HOG, IBM
Support Break: SCTY, UBNT, X
______________________
Watch List Stocks
Leading stocks > +2% on Tuesday: ETSY, VXX, SCHW, FIT, TSL, GPRO
Lagging stocks < -2.0% included:
HOG,
TASR, UBNT, IBM, SHOP, X, SCTY, MBLY, SVXY, P, RUN, JUNO, SFUN, SEDG
47 of 100
NDX stocks closed higher on Tuesday and
one was unchanged.
Leading NDX 100 stocks included: MNST, SNDK, LRCX, MAT, AMAT, AKAM, MAR, SIRI,
AAPL
Lagging NDX stocks included: MU, WDC, TSLA, VRTX, VIP, BMRN, MYL, NFLX,
CELG, BIIB
73 NDX stocks are above their 30 DMA on Tuesday.
NDX Stocks to Watch on
Wednesday:
Moving Above 30 DMA = 3
AAPL, AKAM, MNST
Moving Below 30 DMA = 4
ALXN, CELG, GILD, WDC
6-month Intermediate
Term Market Trend: Down
3-day Short Term Market Trend: Neutral
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