Stocks Rise Tuesday...QQQ Bull Flag...SPY Bounce...Cruise Line Sail Higher...

Seven of ten sectors moved higher on Tuesday …XLK, XLY and XLF were the strongest sectors while XLU was the weakest sector.  Oil futures fell .69 to close at 44.93 as no Saudi Arabia and Iran production deal in sight.

Breadth strengthened as advancers led 1,787 to 1,253 on the NYSE and led 1,859 to 962 on the NASDAQ.

Tuesday – strengthened, advancers led, +7

Monday – strengthened, advancers led, +1

Friday – weakened, decliners led, +1

Thursday – weakened slightly, advancers led, +10

Wednesday – strengthened, advancers led, +10

SPY up 1.33 at 215.57 on 78.4 million shares, 11% below average volume

VIX down 1.40 at 13.10

TLT up 1.01 at 138.70…on 9.4 million shares, 24% above average volume

Technical Commentary:

QQQ +0.99%, DIA +0.69%, SPY +0.62%, IWM +0.41%,

SPY, QQQ and IWM bounced higher on Tuesday.  SPY formed a bullish engulfing candle and bounce entry.   QQQ gave a bull flag entry and IWM is still a bull flag pattern.  The intermediate trend is up.

Leading NDX stocks on Tuesday included REGN, TRIP, MU, EXPE, NVDA, STX, WDC, AAL, NFLX, NCLH, YHOO, AVGO and ULTA.

Cruise line stocks RCL +4.76%, CCL +4.05% and NCLH +2.64% reverse Monday’s selloff. 

TWTR +0.35, +1.50% gains for third straight day.

EPS Positive Reactions

RHT, FDX, ADBE

EPS Negative Reactions

CCL

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.

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.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: IWM, CAVM, MA, PCLN, LMCA, ATVI, UAL, CHK, URBN, BAC, CSX, AAPL, GT, AMAT, SWKS, LVS, ZION, RL, ADI, DVA, ETFC, FOSL, SYMC, APA, GILD, UAL, AKS,

Bull Flag Bounces include: QQQ, AMZN, NVDA, MU, ISRG, BIDU, ADSK, INTC, PYPL, BABA, NTES, QCOM,

Horizontal Breakout Setups include: QQQ, ADSK, MU, QCOM, INTC, PYPL, BABA, FL, NTES, BIDU, X, NUE, STLD, ATI, SCHN, EBAY, JD, FB, NTAP, TXN, ROST,  CHTR, REGN, CTRP, ULTA, BURL, FL, SINA, WRK, SCHW, JPM, WMB, SE, STT, CCL, NCLH, RCL

Horizontal Breakout include: AMZN, NVDA, ISRG, EA, ULTA, RCL

New Highs include: AMZN, NVDA, ISRG, STX, LITE, WDC, EA, TWLO, CSX,

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 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 pointed up at 62, bullish. 

89 of 100 NDX stocks closed higher on Tuesday.

59 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 18

ADI, ADP, AMAT, CHKP, CMCSA, CSCO, CTRP, EXPE, HSIC, KHC, LVNTA, MSFT, NFLX, PAYX, QCOM, SWKS, TXN, YHOO

Moving Below 30 DMA = 2

AMGN, SIRI,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down