Bulls in Love with New Closing Highs on Valentine's Day...Bears Pierced with Arrow...Financials Lead...

Setups to Watch for Wednesday

                   (click image to enlarge)

Technical Commentary

The Financial Sector led as the SPX pulled back after the open before finding support at 2,322 and rallying to another new all-time closing high.

QQQ, SPY, DIA, IWM = New High

IWM = Closes above resistance 

The Financial Sector, XLF, was led by gains in CMA, FITB, BAC, GNW, STT, LUK, STI, VNO, ZION HBAN, RF, KEY, FHN and ETFC in the SPX. 

Strong small-cap financials included: ZAIS, FNBC, WAC, STFC, WAL, SNBC, UMBF, HTLF and EFSC.

                   (click image to enlarge)

Up Trend: XLF, XLI, XLB, XLY, XLK, XLP, XLU, XLV

Sideways: XLRE

Down Trend: XLE

Breadth weakened as advancers led 1,574 to 1,424 on the NYSE and led 1,567 to 1,228 on the NASDAQ.

Tuesday – weakened, advancers led, +7 sectors

Monday – weakened, advancers led, +9

Friday – strengthened, advancers led, +10

Thursday – strengthened, advancers led on the NYSE, +8

Wednesday – strengthened, advancers led, +7

DIA +0.48%, SPY +0.40%, QQQ +0.34%, IWM +0.33%,

                  (click image to enlarge)

SPY up .93 at 233.70 on 68.9 million shares, 4% below average volume,

VIX down -.33 at 10.74

TLT down -.87 at 119.51…on 13.2 million shares, 39% above average volume

Oil futures were up .16 to close at 53.03 on Tuesday.  

The SPY MFC green line is pointed up at 96 bullish. 

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

SPX and NDX Highlights

SPX up 9 points at 2,337 after a horizontal breakout last Thursday, exceeded its short-term price target of 2,334 today.

SPX  gainers COTY, GM, GCI, ENDP, NFX, CERN, TAP, MCK, DNB, BMY, KSS, CMA, AET, XRX, FITB, BBY, UHS, CFG, MN, SPLS, BAC, STT, DLTR, NOV, XEC, LUK, STI

QQQ closes up 43 cents at 128.53, a new all-time closing high.

   

NDX point leaders: AAPL, MSFT, CSCO, BIIB, CMCSA, QCOM, SBUX, CERN, COST, FOXA, TMUS, MYL, INTC and PYPL

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

82 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

FOXA, NVDA, SBUX, TRIP,

Moving Below 30 DMA = 2

HOLX, MU,

_______________________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: SOXL, GDXJ, TLT,

MCHP, NVDA, TXN, FB, LRCX, MXIM, ATVI, AMAT, MU, NTES, WDC,

PG,

AMD, K, DHI,

One Day Pullback: MT, VALE, DE, SYMC, EA, PCLN, AKS, CF, X, NUE,

Bull Flag Bounces include: VIAB, DIS (7)

Horizontal Breakout Setups include: ADI, FLEX, CFG, HBAN, BA, DD, CAT, V, UNH, KLAC, SWKS, ADSK, YHOO, STLD, CMCSA, WB, BABA, GD, AMZN, CSX, GOOGL, ATI, CCL, MSFT, UPS, HIG, HAL, CHK, XLB, NRG, FAST, ETFC,

Horizontal Breakouts include: XLY, IWM, GS, JPM, WFC, BAC, STI, USB, ETFC, GM, ROST, GLW, GOOGL, PCAR,

                  (click image to enlarge)

New Highs include: TSLA, AAPL, DIA, SPY, XLI, XLK, XLP, XLY, FAS, MS, MAR, IBM, MMM, AXP, STX, RCL, CLF, SHOP, COST, MCD, CHKP, CC, JD, ADBE, EBAY, LUV, AVGO,

At Support Setups include: HES, LNG, SQ, MGM, BHI,

Support Bounce: TMUS, INTC, UPS, FCX, MGM,

Break of Support: 

_______________________________

Earnings 

2016 Q4 EPS

EPS Positive Reactions

ATVI, CBG, MT, MHK, VIAB, K, CVS, REGN, PRU, WFM, GT, FISV, PNRA, BWLD, MCHP, CTSH, PXD, ORLY, ALK, MDLZ, CDW, TDG, CNC, NOV, EMR, CHD, TSO, ICE, CBOE, ADM, CAH, HAS, SALT,

EPS Negative Reactions

NVDA, CERN, DNB, COTY, MAS, AKAM, GILD, CSRA, ICE, JEC, KORS, FMC, GM, FOXA, NWL, DO, SYY, HBI, FEYE, GPRO, SKYW, CMG, AMZN, HIG, PSX, CME, CRUS, RL, R, FB, QRVO, PBI, D, ADP, UAA, UPS, MA, NUE, XOM, JNPR, SBUX, PYPL, GOOGL, JBLU, F, CAT, WHR, FFIV, LVS, CTXS, QCOM, MUR, FCX, STLD, 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

Add Comments here: