QQQ, TSLA, AMZN, AAPL, LRCX, WIX Make New All-time Highs...

Setups to Watch for Wednesday

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Technical Commentary

TSLA 30.70, +5.18, +1.74% made a new all-time closing high following Monday’s new high on news of Q1 autos delivered over 25,000.

Broad indexes recovered from another selloff Tuesday morning on light volume and DJI, NDX and SPX closed higher on Tuesday.  The intermediate and long-term trends are still up.

DIA +0.19%, QQQ +0.16%, SPY +0.06%, IWM -0.12%,

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Up Trend: XLY, XLK, XLU, XLV

Sideways: XLB, XLF, XLRE, XLI, XLP,

Down Trend: XLE

Breadth weakened as led 1,496 to 1,466 on the NYSE and decliners led 1,667 to 1,179 on the NASDAQ.

Tuesday – strengthened, advancers led on the NYSE, +6 sectors

Monday – weakened, decliners led, +2

Friday –weakened, advancers led, +3

Thursday – weakened slightly, advancers led, +7

Wednesday – weakened slightly, advancers led, +7

SPY up .15 at 235.48 on 56.4 million shares, 31% below average volume,

VIX down .59 at 11.79

TLT down .66 at 121.01…on 6.9 million shares 12% below average volume

Oil futures were up .88 to close at 51.13 on Tuesday.

The SPY MFC green line is flat at 53, bullish with the SPY remaining above short-term support/resistance at 234.72.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

SPX and NDX Highlights

SPX up 1 point at 2,360.

SPX gainers SPLS, SWN, CHK, RRC, EQT, COG, FCX, TDG, MRO, CAT, LLY, GCI, HPE, EL, XYL, WFM, JBHT, APA, UNP, MUR, XEC, CTL, NSC, APC, HES, FMC

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QQQ closes up .21 at 132.51.

   

NDX percentage gainers: LVNTA, VRTX, INCY, AKAM, SHPG, TSLA, AMZN, SWKS, CSX, STX, TSCO, DISCA, EBAY and WDC

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

54 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MNST,

Moving Below 30 DMA = 4

EXPE, HAS, MAT, NVDA,

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: WDC, ATVI, VIAB, MAR, NFLX, LVS, MSFT, HUN, PCLN, BABA SPY, XLU, XLY, AMAT, CCL, RCL, FISV, MXIM, HD, JNJ, CLX, UNH, MNST, TXN, CERN, ULTA, STX,

Bull Flag Bounces include:

One Day Pullback: WYNN, TLT, UAL, IYR,

MACD Histogram Bullish Divergence: IBM, PANW,

Horizontal Breakout Setups include: ADBE, SWKS, ATVI, QQQ, CBOE, INTC, CMCSA, GDXJ, EBAY, AMD, TLT, DIA, XLE, MCD, HOLX, LRCX, MOMO, NRG, CTRP, MU, FLEX, SOXL, SYMC, X, NUE, STX, EA, AVGO, LUV, CSX, YHOO, AA, GS, DIS, LNG, RF, ZION, STI, CHK, SWN,

Horizontal Breakouts include: MSFT, BA,

New Highs include: TSLA, AMZN, AAPL, QQQ, KLAC, LRCX, WIX, NXPI, FB, CC, ADBE,

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At Support Setups include: PYPL, CTSH, ADI, ALK, EXPE, V, AMBA, MMM, AAL, DAL, HAS, MAT, CTSH,

Support Bounce: CF, SWKS,

Break of Support: ROST, NVDA, NTES, ADP, PAYX,

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