QQQ All-time New High Close...SPY New Intra-day High...Earnings Reactions Lead SPX, NDX...

Four of nine sectors moved higher on Tuesday …XLP, XLV and XLK were the strongest sectors while XLE was the weakest sector.  Oil futures fell .12 to close at 42.75.

Breadth strengthened as advancers led 1,583 to 1,366 on the NYSE and led 1,459 to 1,145 on the NASDAQ.

Tuesday – strengthened, advancers led, +4

Monday – weakened, advancers led on NYSE, +4

Friday – strengthened, advancers led, +8

Thursday – weakened, advancers led on NYSE, +4

Wednesday – strengthened, advancers led, +6

SPY up .13 at 218.18 on 51.2 million shares, 37% below average volume

VIX up .16 at 11.66

TLT up 1.36 at 139.62…on 5.5 million shares, 37% below average volume

Technical Commentary:

QQQ +0.23%, IWM +0.11%, SPY +0.06%, DIA +0.04%,

QQQ makes all-time new high close.  SPY makes new all-time intraday high and equals Friday’s all-time high close.

Positive earnings reactions from ENDP, CHTR and MYL lead NDX.

Negative earnings reaction from NDX component NCLH -11.76% pulled RCL and CCL lower.

Positive earnings reactions from ENDP, MCHP, JEC, NWSA, TDG, MYL and IFF led the SPX on Tuesday.

SPY tests Friday’s breakout again.  Trend still up.

DIA, XLB, XLI, XLY horizontal breakout setups

QQQ, XLK new highs

XLV bull flag setup

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Earning’s Announcements:

Positive Reactions: ENDP, CHTR, MCHP, JEC, NWSA, TDG, MYL, IFF,

ENDP +3.97, +21.83%

CHTR +18.94, +8.00%

MCHP +4.00, +7.06%

JEC +2.18, +4.08%

NWSA +0.48, +3.74%

TDG +8.00, +2.87%

MYL +1.39, +2.86%

Negative Reactions: W, NCLH, SNI, INCY,

W -9.45, -19.59%

NCLH -5.05, -11.76%

SNI -4.70, -7.10%

INCY -1.56, -1.77%

After-hours: YELP, FOSL, DIS

YELP +3.56, +10.91%

FOSL +1.64, +5.40%

DIS -1.69, -1.75%

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  PCAR, BA, PG, XLV, PCLN, NTES, EXPE, SIRI, EW, DHI, GRMN, BIIB, JNJ, VLO, MAC, BMRN, UNH, WHR, CNC, MRK, DLTR, MPC, ALXN, AMGN, CELG, DISCA, ILMN, MAR, MNST, NFLX, REGN, SYMC,

Bull Flag Bounces include: CBL, MXIM, ADI, CHTR, KHC,

Horizontal Breakout Setups include: WFC, ADSK, BX, AMZN, CAT, ETFC, STX, SBAC, IBM, MU, LRCX, AMAT, CBL, AIV, JD, TSN, CSCO, KMX, LMT, HPE, ULTA, KHC, EA, PYPL, BURL, HLT, ORLY, COST, CINF, QCOM, EBAY, TXN, FB, URI, TJX, STI, ZION, ROST, MAT, LB, CSX,

Horizontal Breakout include: AMBA, CTRP, BXP, CHTR,

New Highs include: NTAP, SPY, QQQ, IWM, AVGO, XLNX, AAPL,  CBG, XLF, BAC, MSFT, NVDA, TMUS, TSN, CERN, STT, C, JPM, ZION, WMB

______________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is in the upper zone at 96, bullish.

57 of 100 NDX stocks closed higher and one was unchanged on Tuesday.

76 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

ATVI, DISH, LVNTA,

Moving Below 30 DMA = 2

CTSH, NCLH,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up