QCOM Soars on AAPL Settlement, Financials Lead Stocks Higher...

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Earnings season is ramping up as UNH -4.01% negative reaction leads health care lower on Tuesday.  Positive reactions from PGR and OMC were SPX leaders.  After the close IBM and NFLX were lower on negative reactions.

Today’s biggest story was the QCOM +23.21% and AAPL royalty settlement that led to a parabolic rise this afternoon in QCOM stock. PGR, BLK and C led financials.

The DJIA, closed up 67 points at 26,452, led by strength in BA, GS, CAT, TRV and JNJ.  Twelfth straight close above 26,000 since March 1.

Eight of eleven sectors were higher on Tuesday, led by financials XLF +1.41% and energy XLE +0.66%.

SPY up .19 at 290.16 on 52.1 million shares, 26% below average volume. Up on higher volume.

VIX down .14 at 12.18

Oil up .76 at 64.33

TLT down .77 at 122.21 on 8.9 million shares. 

BA +1.67%, CAT +1.27%, led the DJIA, 21 advancers, +5

PGR +6.92%, OMC +5.66% and FCX +3.43%, led the SPX.

QCOM +23.21%, WDC +4.69%, SWKS +3.63%, and NFLX +3.04%, led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: QQQ, DIA, IWM, SPY,

Down:

Breadth strengthened on Tuesday, as advancers led 1,570 to 1,312 on the NYSE and led 1,703 to 1,338 on the NASDAQ

The SPY MFC green line is at 96 and is intermediate and short-term bullish. 

Uptrend sectors: XLRE, XLU, XLP, XLY, XLK, XLI, XLC, XLB,

Neutral sectors:  XLV, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

51 of 100 NDX stocks closed higher on Tuesday.

79 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, XRAY, DLTR, AMZN, NVDA, SYMC, NTAP, SBUX, IDXX, NTES, ALGN, AVGO, ORLY, AMD, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, ASML, CELG, CERN, FB, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, CTAS, MCHP, MXIM, NXPI, TXN, WDC, WYNN, AAL, BKNG, LBTYA, UAL, KHC, SIRI, CHTR, EXPE, CTXS, TMUS, HAS, QCOM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

  

Moving Below 30 DMA = 7

AMGN, ATVI, BMRN, CTSH, GILD, ISRG, JBHT,

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