SPX Pulls Back Following Travel Ban...AMG Jumps on Earnings...Bull Flags Flying...

Up Trend: XLI, XLB, XLY, XLK, XLP

Sideways: XLU, XLF. XLRE, XLV

Down Trend: XLE

Breadth weakened as decliners led 2,098 to 903 on the NYSE and led 2,112 to 611 on the NASDAQ.

Monday – weakened, decliners led, +1 sectors

Friday – weakened, decliners led, +2 sectors

Thursday – weakened, decliners led, +6

Wednesday – weakened slightly, advancers led, +7

Tuesday – strengthened, advancers led, +8

Oil futures were down .63 to close at 52.57 on Monday.  

SPY down 1.42 at 227.55 on 77.8 million shares, average volume,

VIX up 1.30 at 11.88

TLT down .36 at 119.27…on 6.0 million shares, 32% below average volume

Technical Commentary

DIA -0.62%, SPY -0.62%, QQQ -0.78%, IWM -1.40%,

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SPX down 13 points at 2,281 forming bull flag on Monday after making a new all-time closing high on Wednesday.

SPX  gainers AMG, ADS, DG, WHR, PVH, JWN, BMY, HBI, KSS, BBY, HCP, NEM, TSO, DLTR, DIS, ABC, M, VO, GPS, LKQ, CVS, VIAB, WMT, VFC, COH, SWKS 

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Earnings

This week:

Monday – AMG

Tuesday – AAPL, ABC, AET, AMD, DHR, EA, HCA, LLY, MA, NDAQ, NUE, PCAR, S, UAA, X, XOM

Wednesday –

Thursday –

Friday –

Earnings Reports

Positive earnings reactions

AMG +6.02, +4.11%

Negative earnings reactions

After-hours reports

PCAR

2016 Q4 EPS

EPS Positive Reactions

MSFT, KLAC, INTC, GD, ETFC, RCL, LUV, CMCSA, URI, RCL, LUV, EBAY, STX, LOGI, ROK, BA, HBAN, ISRG, NSC, ATI, GLW, RMD, DHI, DD, MB, BABA, CA, YHOO, SWKS, KSU, PG, CFG, COL, IBM, CHKP, NFLX, UNP, FAST, WFC, SNX, MSM, CUDA, GPN, MU, CAG, NKE, KMX, CCL, JBL

EPS Negative Reactions

WHR, FFIV, LVS, CTXS, QCOM, MUR, RCX, WDCSTLD, CA, FCX, HES, STT, AKS, VZ, JNJ, LMT, MMM, TRV, HAL, MCD, GE, NTRS, CSX, C, CMA, MS, UNH, AYI, CMC, STZ, SCHN, RHT, BBBY, FINL, AGN, FDX, GIS, ADBE

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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.

Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

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: QQQ, SPY, DIA, JD, WDC, CSX, CHTR, TSLA, ICE, ADBE, NTES, ADSK, YHOO, TMUS, FB, AMZN, INTC, TXN, SYMC, FAST, DISCA, PCAR, NCLH, CCL, CF, ATI, VALE, STI, SCHW, WB, PWR, BABA, LUV, LNG, CFG, HBAN, WFC, SQ, MS, BAC, FAS, RF, BA, IBM, PG, V,

One Day Pullback: MSFT, SOXL, KLAC, JPM, MAR, NVDA, PCLN, ETFC, ADI, LRCX, AMAT, PNC, HAL, AVGO, AAPL, NRG, DE, GD, FCAU, UPS,

Bull Flag Bounces include: SWKS

At Support Setups include: TLT, IWM, COST, CHK, C, GS, PAYX, MT, GM, ALK, GOOGL, SBUX, NUE, STLD, X, FTI, BHI, AKS, TRV, ADP, ROST, CLF, UTX, XLNX, MMM,

Support Bounce: CTXS, FISV,

Horizontal Breakout Setups include: NFLX, CHKP, MCD, ZION, KEY, CMA, SHOP, MGM, HIG, UNH,

Horizontal Breakouts include: DIS, ATVI,

New Highs include: STX, VIAB, MU, MXIM, EA, RCL, EBAY, USB, CMCSA,

Break of Support: AAL, HES, DAL, APA, XOM,

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The SPY MFC green line is in the upper zone at 88 bullish. 

35 of 100 NDX stocks closed higher and four were unchanged on Monday.

66 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

COST, XLNX,

Moving Below 30 DMA = 3

ALXN, BMRN, CTAS,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down