Setups to Watch for Wednesday
(click image to enlarge)
Technical Commentary
SPY,
DIA = Pause day after new all-time High
IWM = fall back to bull flag support
QQQ = Bull Flag pattern
The broad index ETFs gain for the second straight month in 2017.
On Tuesday:
YTD Feb 28, 2017
QQQ +9.74%
SPY +5.79%
DIA +5.59%
IWM +2.16%
Up Trend: XLF, XLI, XLB, XLY, XLK, XLP, XLU, XLV, XLRE
Sideways:
Down Trend: XLE
Breadth weakened as decliners led 1,913 to 1,084 on the NYSE and led 2,256 to 647 on the NASDAQ.
Tuesday – weakened, decliners led, +2 sectors
Monday – strengthened, advancers led, +5
Friday – strengthened, advancers led on the NYSE, +8
Thursday – weakened, decliners led, +5
Wednesday – weakened, decliners led, +5
On Tuesday:
DIA -0.15%, SPY -0.27%, QQQ -0.31%, IWM -1.54%,
SPY down .64 at 236.47 on 96.8 million shares, 33% above average volume,
SPY down .64 at 236.47 on 96.8 million shares, 33% above average volume,
VIX up .83
at 12.92
TLT up .62
at 121.74…on 8.4 million shares 9% below average volume
Oil futures were down .04 to close at 54.00 on Tuesday.
The SPY MFC green line is in the upper zone at
96 bullish.
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Sideways
SPX and NDX Highlights
SPX down 6 points at 2,363.
SPX gainers ALB, PCLN, ADM, AES, ENDP, HPE, XRAY, AW, CNP, FE, VRTX,
LUK, HRL, ETR, HRB, CELG, SRE, NTAP, OKE, ORLY, AMT, PNW, WEC, HUM, SCG, LNT
QQQ closes down 40 cents at
130.02.
NDX point leaders: PCLN, CELG, KHC,
TSLA, VRTX, SBAC, BMRN, TMUS, AMGN, AAPL, BIDU, XRAY and ORLY
24 of 100 NDX stocks closed
higher and two were unchanged on Tuesday.
83
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
AAL, WDC,
Moving Below 30 DMA = 5
CMCSA, FAST, INTC,
LBTYA, MU,
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Strong Stocks: Setups
and Moves You Can Use
Bull Flag Setups include: QQQ, XLY, IWM, FAS, XLI, SOXL,
DD,
JPM, PG, IBM, GS,
ADBE,
AMAT, CHKP, CTRP, INTU, MAR, NCLH, SBUX, ULTA, YHOO, AMAT, AMZN, ATVI, FB, GOOGL,
SWKS, VIAB, PYPL,
SRCL,
WIX, SHOP, WB, CC, WFC, RF, HBAN, MS, CLF, VALE, STI, FLEX,
One Day Pullback: AMD, SQ, ADSK, XLK, NVDA,
Bull Flag Bounces include: TMUS, X, (2)
Horizontal Breakout Setups include: AMD, NTAP, NTES, AXP, AAPL, ADI, AVGO, STX,
WDC, BAC, ZION, STLD, DE, NUE, MU, LRCX, INTC, TXN, DIS, HIG, CSX, TLT, XLB, ROST,
MSFT, MCHP, MXIM, BABA, CAT, SODA, RCL, LNG, NVDA, CCL,
(click image to enlarge)
Horizontal Breakouts include: PCLN, UNH,
New Highs include: PCLN, BA, AAPL, XLP, MCD, GLW, KLAC, SPY, DIA, COST,
GD, EBAY, USB, MMM, LUV,
At Support Setups include: PCAR, ETFC, GM,
UPS, NRG, MT, FCX, BHI, HES, MGM, GDXJ, HAL, CF,
Support Bounce:
Break of Support: CHK,
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Earnings
This week:
Monday – PCLN, SBAC
Tuesday – ENDP, QVCA, ROST, TGT, AZO, AMBA
Wednesday – DLTR, MNST, BBY, LOW
Thursday – JD, COST, KR
Friday – BIG
Earnings Reports
Positive earnings reactions
ALB +9.05, +9.79%
PCLN +92.12, +5.64%
ENDP +0.36, +2.71%
SBAC +2.98, +2.64%
Negative earnings reactions
TGT -8.14, -12.17%
QVCA -1.07, -5.36%
After-hours
reports
AMBA -2.93, -4.97%
2016 Q4 EPS (since
Feb 15)
EPS Positive Reactions
ALB,
PCLN, ENDP, FL, KSS, INTU, JWN, NCLH, CTRP, WMT, HD, HSIC, XRAY, SHPG, NTES,
SRCL, NTAP, CSCO, SHPG, WIX, ADI, WYN, SODA,
EPS Negative Reactions
TGT,
QVCA, BIDU, BMRN, TSLA, SINA, LB, SLCA, VRSK, DISH, TRIP, ALXN, FOSL, AIG, DVN,
KHC,
