Breadth
weakened as decliners led advancers 4.08 to 1 on
the NYSE and 3.35 to 1 on the NASDAQ.
Monday –
weakened, decliners led
Friday
– strengthened, advancers led
Thursday
– weakened, decliners led
Wednesday
– weakened, decliners led
Tuesday – strengthened, advancers led
SPY down 1.27 at
208.35 on 101.5 million shares, 42% lower than Friday’s
up volume
VIX
up 1.03 at
15.84…below
Thursday’s closing VIX of 18.11
TNX down .50 at 22.25…
TLT up 1.17 at 121.75…on 9 million shares
XLF down .23 at 24.55…on 25.4 million shares
AAPL down
.75 at 118.28 on 32 million shares
FB down .57 at 105.61 on 15.4 million
shares
Technical Commentary:
QQQ -0.45%, SPY -0.61%, DIA
-0.61%, IWM -1.50%.
Down volume
was significantly lower on Monday than Friday’s buying volume on many
ETFs and stocks including SPY, QQQ, DIA,
IWM, XLF, XLI, XLV, XLY, AAPL, FB, AMZN and GOOGL.
SPY closes above
Friday’s S1.
QQQ trades and
closes above Friday’s S1.
Oil
drops, XLE weakest sector.
Airline
stocks take off on weaker oil: DAL,
JBLU, UAL, AAL, ALK, LUV
GMCR +37.19, .71.93% gaps up on buyout offer.
DLTR, NWL,
AVP, LULU, PBYI, LC, JD, MAT, LRCX and EA continue to rise on down day.
WFM, VIAB
reverse higher on increased volume.
SPY, QQQ,
XLB, XLF, and XLk are HBO setups
and IWM, XLY and XLI are bull flag
setups.
Setups for
Tuesday:
Bull Flags – INTC, NXPI, XLNX, BIDU, AMZN, GOOGL, ILMN,
TSLA, YHOO, AA, FLSR, NKE, SLCA, YELP, YNDX
Breakouts – SWKS, TXN, AAPL, ADBE, ATVI, EBAY, ROST, AIG, C, CRM, CSIQ, ETFC, JBL,
MS, PANW, STI
Diagonal Breakouts – FB, BAC, PYPL
Trade with the trend of the chart you are
trading and continue to move your profit protection stops. Continue
to follow your rules.
The SPX MFC green line is down
slightly at 63.
Short-term Chart Targets:
SPY =...211.66…
QQQ = 115.47…
IWM = 120.99, 123.07…
Support Levels
SPY
= 208.56, 207.41
QQQ
= 113.65, 112.84
IWM
= 118.90, 116.56
__________________
Setups
Horizontal Breakout: QQQ, BABA,
CIEN, CRM, CSIQ, MS, NCLH, PLAY, SINA, STI, TSL, V, W, AAPL, ATVI, EBAY, GRMN, INTC,
TRIP,
Diagonal Breakout: SPY, BAC,
CCL, FAS, JNPR, PYPL, RCL, SUM, SVXY, EA, FB, SBUX,
Bull Flag: AMBA, ETFC, FSLR,
NKE, PANW, QRVO, RAX, SLCA, YELP, AMZN, BIDU, GOOGL, ILMN, LLTC, LRCX, MYL, XLNX,
YHOO
At Support: JUNO, MPEL,
Moves
New Highs: DAL, AVGO
Bull Flag Bounce: SONC, TSLA
Bounce: GLW,
Gap Up: DAL, JBLU
Support Break: LNKD, ZION,
Support Break: LNKD, ZION,
______________________
34 of 100 NDX stocks closed higher
and one was unchanged on Monday.
53 NDX stocks are
above their 30 DMA.
NDX Stocks to Watch on Tuesday:
Moving
Above 30 DMA
= 5
CHTR, SBUX,
SYMC, VOD, WFM
Moving Below 30 DMA = 4
ADBE, ADP, AMGN, VRTX
6-month Intermediate Term Market Trend:
Neutral
3-day Short Term Market Trend: Neutral
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