Oil Rallies...SPX Moves Higher...MMM, JNJ, PG and DD Positive EPS Reactions Lift DJIA...AAPL Lower in After-hours...

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All nine sectors moved higher on Tuesday…XLE, XLI and XLB were the strongest sectors while XLU was the weakest sector.  Oil gained 71 cents to close at 30.51, fueling XLE as the strongest sector.

                         

Breadth strengthened as advancers led decliners 5.06 to 1 on the NYSE and as 2.40 to 1 on the NASDAQ.

Tuesday – strengthened, advancers led

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday- strengthened, advancers led

Wednesday – mixed, decliners led

SPY up 2.56 at 190.20 on 141.0 million shares, 9% below average volume

VIX down 1.65 at 22.50…

TNX down .28 at 19.9…

TLT up .06 at 126.08…on 5.6 million shares, 37% below average volume

XLF up .35 at 21.20…on 51.9 million shares, 9% below average volume

AAPL up .55 at 99.99 on 75.0 million shares, 41% above average volume

FB up .33 at 97.34 on 26.8 million shares, 2% below average volume

Technical Commentary:

IWM +2.00%, DIA +1.79%, SPY +1.36%, QQQ +0.90%. 

Positive earnings reactions from MMM, JNJ, PG and DD help lift DJIA to a horizontal breakout setup.

MCD hits new all-time closing high following earnings on Monday.  AAPL moved lower after the close on Tuesday after reporting record revenues and profits.

Earnings this week:

Monday: MCD, HAL, KMB,

Tuesday: DD, JNJ, MMM, PG, AAPL, CA,

Wednesday:  BA, BIIB, LRCX, CTXS, EBAY, FB, PYPL, QCOM, SNDK, TSCO, TXN, UTX, VRTX

Thursday:  CAT, CELG, CHKP, CVX, V, AMGN, AMZN, EA, KLAC, MSFT, SWKS, WDC

Friday:  AAL, PCAR, STX

YTD:

SPX Leaders:  SWN, EQT, M, SE, TWX, RRC, COG, SNI, DISCK, HAS (73)

SPX Losers: ESV, FCX, BWA, MRO, WRK, CHK, APC, HES, CF, AA

                        

NDX Leaders:  DISCK, VIAB, KHC, CTSH, EA, XLNX, ROST, TMUS, DLTR, PCAR (11)

NDX Losers: INCY, VRTX, MU, WDC, STX, ADSK, ALXN, TSLA, TRIP, LBTYA

DJI Leaders:  WMT, VZ, MCD

DJI Losers: AXP, DD, GS, JPM, INTC, CAT, CSCO, BA, IBM, UTX

Remember:  “It’s a market of stocks, not just a stock market.”

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 pointed up at 26. 

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Setups

Horizontal Breakout: DRI, WMT, STZ, TWX, EAT, SPWR, CSIQ, TSL, PSA, EXR, CUBE

Bull Flag: HAS, M

Moves

New Highs: MCD, CPB

H Breakout: MCD, CTSH, EA

Bull Flag Bounce: SE

Gap Up: MMM, JNJ, PG

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82 of 100 NDX stocks closed higher on Tuesday.

18 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 11

DISCA, DLTR, ENDP, FISV, FOXA, ORLY, PCAR, QCOM, ROST, TMUS, TRIP

Moving Below 30 DMA = 1

ISRG

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up