Eight of nine sectors moved higher on Tuesday…XLV,
XLK and XLY were the
strongest sectors while XLE was again the weakest sector. Oil falls 55 cents
to new multi-year lows at 30.58.
Breadth strengthened as decliners led advancers 1.07 to 1 on
the NYSE and advancers led 1.01 to 1
on the NASDAQ.
Tuesday – strengthened, mixed
Monday – strengthened, decliners
Friday – strengthened, decliners led
Thursday- weakened, decliners led
Wednesday – weakened, decliners led
SPY up 1.55 at 193.66 on 173.3 million shares, 30% above average volume
VIX down 1.83
at 22.47…
TNX down .56 at 21.02…
TLT up 1.76 at 123.77…on
12.8 million shares, 51% above average volume
XLF up .17 at 22.30…on
65.5 million shares, 38% above average volume
AAPL up 1.43 at 99.96 on 49.1 million shares, 7% above average volume
FB up 1.86 at 99.37 on 28.3
million shares, 26% above average volume
Technical Commentary:
QQQ +1.16%, SPY +0.81%, DIA
+0.68%, IWM +0.30%.
QQQ,
SPY and DIA gapped open higher rolled over to negative territory before roller
coasting to a higher close and confirming Monday’s hammer
candle pattern on the daily chart. Look for
further gains following Tuesday’s confirmation.
Today your choice AAPL or FB for just $99 and change…you
decide.
Healthcare led on Tuesday with
sector leading gains from: ANTM, MDT, AET, BSX, CELG, STJ, CERN, CI,
BXLT, ZBH, ALXN, UNH, ENDP, EW, AMGN and PRGO.
Consumer discretionary again
was strong with sector leading gains from: ROST, UA, SBUX, TSCO, BBY, YUM, LB, VFC,
CVC, ORLY, TWX and FOXA.
YTD:
SPX Leaders: FLIR, M, TWX, KSS, HAS, RAI, EQIX, HBI, WMT,
STZ
SPX Losers: FCX, WMB,
MRO, ESV, AA, APC, APA, CF, THC, DVN, WYNN
NDX Leaders: TMUS, DLTR, NFLX, VIAB, ROST, KHC
NDX Losers: INCY, VRTX,
LBTYA, NTAP, STX, SWKS, ALXN, WDC
DJI Leaders: WMT, MCD,
DJI Losers: DD, JPM, CAT,
BA, CVX, GS, GE, AXP
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 down at 8.
__________________
Horizontal Breakout: HAS, FLIR, MO, FINL, CCL, RCL, TLT,
Diagonal Breakout: DPS, NFLX,
KR, WUBA, NKE, CELG, NTES, TPX, VRSN, TERP, RUN,
Bull Flag: DRI, TWX, KSS, WMT, STZ, SIG, KMB, FIVE,
FSLR, SCTY, SEDG, SE
Potential Bullish
Divergence: AAPL, MNST, CRM, QRVO, TPX,
YELP, ZION, LNKD
At Support: JASO
Moves
New Highs: EQIX,
H Breakout: SBUX, EAT
D Breakout: V, CPB, ANTM, MDT, AET, BSX, ATVI, MTSI
Bull Flag Bounce: MCD, SONC, DLTR, CNC, W, EAT
Bounce: ANTM, MDT, AIG,
Gap Up: ROST
______________________
84 of 100
NDX stocks closed higher and one was
unchanged on Tuesday.
9
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
DLTR, ROST
Moving Below 30 DMA = 0
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Neutral
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