BMO – ES +4.00 and NQ +5.25 futures are lower in pre-market trading pointing to a lower open. AAPL +1.23, AMZN +0.97, GOOG +2.41 and BIDU +6.89 are higher in pre-market trading. INTC is up 25 cents, JPM up 33 cents, BAC up 20 cents, GE up 11 cents and GS is up 3.18.
Stocks are generally higher in pre-market trading lifted by financial and energy stocks and positive earnings announcements. Look for a continuation of Monday's support bounce and potential bull flag confirmation.
The short term is neutral but may turn up today and the intermediate term and long term trends are up.
Trade those charts that meet your rules in the direction of the trend.
Dave is teaching an AT Workshop in Denver today.
Key Earnings to Watch:
Monday – AKS, BIIB, KO, FUQI, GS, IBM, RF, STT, STLD, ZION
Tuesday – ALGT, AAPL, BK, CREE, DAL, FCX, GILD, JNJ, MCD, MICC, MS, PCAR, UTS, WFC, YHOO
Wednesday – ABT, ALK, AMGN, T, BA, CTXS, DHR, EBAY, GENZ, GR, ESI, KEY, LRCX, NFLX, BTU, QCOM, SNDK, SBUX, TER, VZ, VRTX
Thursday – AMZN, AXP, BUCY, CAL, DECK, HON, MSFT, NUE, PEP, TRV, UNP
Friday – FLIR, SLB
XLE is up 37 cents in pre-market trading.
SPY is up 62 cents in pre-market trading. XLF is up 9 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,178, 1,155
Resistance = 1,200, 1,216
Trading Down: STT, FAZ, UNG,
Trading Up: GS, FAS, NFLX, BUCY, POT, CLF, CHL, SWK, UYG, FCX, X, MOS, MON, WLT, MA, IPI, URE, V, AGU, USD, USO, BAC, DOW, WFC, ZION
At the Open on Tuesday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Tuesday, April 20, 2010
Monday, April 19, 2010
SPX Bounces at Support...
DJIA 11,092.05 +73.39 +0.67%
SP500 1,197.52 +5.39 +0.45%
COMPQ 2,480.11 -1.15 -0.05%
Russell 2000 711.40 -3.22 -0.45%
Exchange NYSE NASD
Advancing 1,332 1,028
Declining 1,692 1,677
Oil $83.13 +0.18
Gold $1,135.80 -1.20
SOX 389.66 -4.09
VIX 17.34 -1.02
Index Direction Confirmation
VIX Down Yes – SPX
SOX Down Yes – COMPQ
Eight of nine sectors moved higher on Monday. Financials and Healthcare were stronger than SPX +0.45%.
Financials led a stock prices higher with a bounce at support. Strong financials included: C, CME, TRV, BK, ICE, NTRS, TROW, GS, KEY, STT, AXXP,WFC, MS, MET, PRU, IVZ and ALL.
Dave is teaching an Advanced Technials workshop in Denver on Tuesday and Wednesday.
NDX 100 stocks stronger than the NDX included: BIIB, ESRX, DTV, PCAR, GRMN, CMCSA, YHOO, MSFT, PPDI, FAST, ADP, ORCL, VRSN, SIAL, PAYX, LIFE, DELL, MICC, APOL, RYAAY, SYMC, ERTS, ORLY, AMGN, WCRX, COST, BBBY, ISRG, CHRW, FWLT, SRCL, FISV, INTC, CSCO,CTAS and JBHT.
Guidance:
The SPX formed a hammer and bullish harami on Monday. Look for a support bounce continuation and a potential break of 1,200 resistance.
Continue to trade with the trend. Be mentally flexible and be willing to trade when your entry and exit signals appear.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -1.02 and did confirm the lower close on Monday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is neutral.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Continue to adjust stops according to your rules.
Stocks to Watch on Tuesday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, CREE, WHR, BUCY, UNP, CAT, V, ESI, DE, UNP, V, BAC, DHR, URE, JEC, TDG, FAS, UYG, USD, SNDK, MELI, FLS, HDB, VAR, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, TSL, BYI, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, ESI, K
Moving Above 30 DMA = 1
WCG
Moving Below 30 DMA = 8
GES, HLF, PCLN, PCP, GR, USO, WLT, CLF
Staying Below 30 DMA
DECK, GMCR, ICE, SWN, GS, BA, FCX, SPG, ATI, X, BDX, WMT, HANS, MHS, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
SP500 1,197.52 +5.39 +0.45%
COMPQ 2,480.11 -1.15 -0.05%
Russell 2000 711.40 -3.22 -0.45%
Exchange NYSE NASD
Advancing 1,332 1,028
Declining 1,692 1,677
Oil $83.13 +0.18
Gold $1,135.80 -1.20
SOX 389.66 -4.09
VIX 17.34 -1.02
Index Direction Confirmation
VIX Down Yes – SPX
SOX Down Yes – COMPQ
Eight of nine sectors moved higher on Monday. Financials and Healthcare were stronger than SPX +0.45%.
Financials led a stock prices higher with a bounce at support. Strong financials included: C, CME, TRV, BK, ICE, NTRS, TROW, GS, KEY, STT, AXXP,WFC, MS, MET, PRU, IVZ and ALL.
Dave is teaching an Advanced Technials workshop in Denver on Tuesday and Wednesday.
NDX 100 stocks stronger than the NDX included: BIIB, ESRX, DTV, PCAR, GRMN, CMCSA, YHOO, MSFT, PPDI, FAST, ADP, ORCL, VRSN, SIAL, PAYX, LIFE, DELL, MICC, APOL, RYAAY, SYMC, ERTS, ORLY, AMGN, WCRX, COST, BBBY, ISRG, CHRW, FWLT, SRCL, FISV, INTC, CSCO,CTAS and JBHT.
Guidance:
The SPX formed a hammer and bullish harami on Monday. Look for a support bounce continuation and a potential break of 1,200 resistance.
Continue to trade with the trend. Be mentally flexible and be willing to trade when your entry and exit signals appear.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -1.02 and did confirm the lower close on Monday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is neutral.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Continue to adjust stops according to your rules.
Stocks to Watch on Tuesday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, CREE, WHR, BUCY, UNP, CAT, V, ESI, DE, UNP, V, BAC, DHR, URE, JEC, TDG, FAS, UYG, USD, SNDK, MELI, FLS, HDB, VAR, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, TSL, BYI, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, ESI, K
Moving Above 30 DMA = 1
WCG
Moving Below 30 DMA = 8
GES, HLF, PCLN, PCP, GR, USO, WLT, CLF
Staying Below 30 DMA
DECK, GMCR, ICE, SWN, GS, BA, FCX, SPG, ATI, X, BDX, WMT, HANS, MHS, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
Futures Point to a Lower Open...
9:53 am EDT - prices seem to have found support near Friday's low and seem to be bouncing with bull flag patterns, financials have turned positive...XLF, XLY, XLK XLI and XLV are all positive at this time...
9:38 am EDT -
Prices broke the high of the low day on the SPX, INDU, COMPQ and RUT as all four indexes formed an evening star on Friday. Watch for a potential support level near Friday’s low. We will be looking at price reaction today on key stocks that are releasing earnings.
The short term is neutral and the intermediate term and long term trends are up.
Trade those charts that meet your rules in the direction of the trend.
Key Earnings to Watch:
Monday – AKS, BNI, BIIB, KO, FUQI, GS, IBM, RF, STT, STLD, ZION
Tuesday – ALGT, AAPL, BK, CREE, DAL, FCX, GILD, JNJ, MCD, MICC, MS, PCAR, UTS, WFC, YHOO
Wednesday – ABT, ALK, AMGN, T, BA, CTXS, DHR, EBAY, GENZ, GR, ESI, KEY, LRCX, NFLX, BTU, QCOM, SNDK, SBUX, TER, VZ, VRTX
Thursday – AMZN, AXP, BUCY, CAL, DECK, HON, MSFT, NUE, PEP, TRV, UNP
Friday – FLIR, SLB
The Euro is down 48 pips in overnight trading. Oil is down 1.82 in electronic trading. XLE is down 50 cents in pre-market trading.
SPY is down 34 cents in pre-market trading. XLF is down 18 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,178, 1,155
Resistance = 1,200, 1,216
Trading Down: FAS, GS, PWRD, UYG, POT, USO, SNDK, JEC, FCX, MELI, WLT, X, V, CREE, BA, CLF, ICE, PCLN, IPI, URE, DE, BUCY, MOS, UAUA, TSL, DOW, CAT, NFLX, BAC, ATI, SPG, CGA, WFC, MCD
Trading Up: MON, FAZ, GME, SYNA, UNG, STT
At the Open on Monday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
9:38 am EDT -
Look at these Charts
(click image to enlarge)
BMO – ES -5.00 and NQ -4.00 futures are lower in pre-market trading pointing to a lower open. AAPL +0.10, AMZN -0.68, GOOG -2.34 and BIDU -6.11 are mostly lower in pre-market trading. INTC is down 2 cents, JPM down 25 cents, BAC down 26 cents, GE down 16 cents and GS is down 2.87.
Most stocks are lower this morning in pre-market trading. Concerns over other countries suing GS and the possibility of other banks being sued seems to be weighing on financial stocks.
Most stocks are lower this morning in pre-market trading. Concerns over other countries suing GS and the possibility of other banks being sued seems to be weighing on financial stocks.
Prices broke the high of the low day on the SPX, INDU, COMPQ and RUT as all four indexes formed an evening star on Friday. Watch for a potential support level near Friday’s low. We will be looking at price reaction today on key stocks that are releasing earnings.
The short term is neutral and the intermediate term and long term trends are up.
Trade those charts that meet your rules in the direction of the trend.
Key Earnings to Watch:
Monday – AKS, BNI, BIIB, KO, FUQI, GS, IBM, RF, STT, STLD, ZION
Tuesday – ALGT, AAPL, BK, CREE, DAL, FCX, GILD, JNJ, MCD, MICC, MS, PCAR, UTS, WFC, YHOO
Wednesday – ABT, ALK, AMGN, T, BA, CTXS, DHR, EBAY, GENZ, GR, ESI, KEY, LRCX, NFLX, BTU, QCOM, SNDK, SBUX, TER, VZ, VRTX
Thursday – AMZN, AXP, BUCY, CAL, DECK, HON, MSFT, NUE, PEP, TRV, UNP
Friday – FLIR, SLB
The Euro is down 48 pips in overnight trading. Oil is down 1.82 in electronic trading. XLE is down 50 cents in pre-market trading.
SPY is down 34 cents in pre-market trading. XLF is down 18 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,178, 1,155
Resistance = 1,200, 1,216
Trading Down: FAS, GS, PWRD, UYG, POT, USO, SNDK, JEC, FCX, MELI, WLT, X, V, CREE, BA, CLF, ICE, PCLN, IPI, URE, DE, BUCY, MOS, UAUA, TSL, DOW, CAT, NFLX, BAC, ATI, SPG, CGA, WFC, MCD
Trading Up: MON, FAZ, GME, SYNA, UNG, STT
At the Open on Monday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Friday, April 16, 2010
SPX Closes Below 1,200...
DJIA 11,018.66 -125.91 -1.13%
SP500 1,192.13 -19.54 -1.61%
COMPQ 2,481.26 -34.43 -1.37%
Russell 2000 714.62 -9.59 -1.32%
Exchange NYSE NASD
Advancing 571 729
Declining 2,478 2,149
Oil $82.95 -2.56
Gold $1,159.70 +0.70
SOX 393.75 -5.11
VIX 18.36 +2.47
Index Direction Confirmation
VIX Up Yes – SPX
SOX Down Yes – COMPQ
Strongest Sectors: XLP-0.43%…XLV -0.60%...XLU -1.16%
Weakest Sectors: XLF -3.65%...XLB -1.72%...XLE -1.69%
All nine sectors moved lower on Friday. Consumer Staples, Healthcare, Utilities, Consumer Discretionary and Technology were stronger than the SPX -1.61%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF, XLK
Horizontal Breakout:
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
Before the open GE -2.72%, reported continuing operations 21 cents vs 16 cents estimates but sales and orders were below estimates. BAC -5.49%, reported diluted 28 cents vs 9 cents estimates.
The SPX did recover from its lows but not before breaking below its 1,200 support level.
SP500 1,192.13 -19.54 -1.61%
COMPQ 2,481.26 -34.43 -1.37%
Russell 2000 714.62 -9.59 -1.32%
Exchange NYSE NASD
Advancing 571 729
Declining 2,478 2,149
Oil $82.95 -2.56
Gold $1,159.70 +0.70
SOX 393.75 -5.11
VIX 18.36 +2.47
Index Direction Confirmation
VIX Up Yes – SPX
SOX Down Yes – COMPQ
Strongest Sectors: XLP-0.43%…XLV -0.60%...XLU -1.16%
Weakest Sectors: XLF -3.65%...XLB -1.72%...XLE -1.69%
All nine sectors moved lower on Friday. Consumer Staples, Healthcare, Utilities, Consumer Discretionary and Technology were stronger than the SPX -1.61%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF, XLK
Horizontal Breakout:
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
After the close on Thursday GOOG,ISRG and AMD all reported better than expected earnings but failed to generate a positive reaction to the stock price. GOOG with the questions surrounding China and ISRG which had already moved $60 in the six trading days before earnings may certainly have been buy the rumor, sell the news situations. AMD which netted the smaller loss of the three perhaps was a result of the general market moving lower.
Before the open GE -2.72%, reported continuing operations 21 cents vs 16 cents estimates but sales and orders were below estimates. BAC -5.49%, reported diluted 28 cents vs 9 cents estimates.
The SEC (we're not talking college athletics here) announced a suit against GS -12.79% for alleged activities in mortgage derivatives. The announcement sent GS financial stocks and the broad market lower.
The SPX did recover from its lows but not before breaking below its 1,200 support level.
Look at these Charts
(click image to enlarge)
It appears that the key driver of stock prices next week will be big money reaction to the earnings announcements. If companies beat estimates and raise guidance those stocks will have a chance to move higher. If stocks miss estimates or fail to raise guidance those stocks may be set up for negative reaction and lower stock prices.
Key Earnings to Watch:
Monday – AKS, BNI, BIIB, KO, FUQI, GS, IBM, RF, STT, STLD, ZION
Tuesday – ALGT, AAPL, BK, CREE, DAL, FCX, GILD, JNJ, MCD, MICC, MS, PCAR, UTS, WFC, YHOO
Wednesday – ABT, ALK, AMGN, T, BA, CTXS, DHR, EBAY, GENZ, GR, ESI, KEY, LRCX, NFLX, BTU, QCOM, SNDK, SBUX, TER, VZ, VRTX
Thursday – AMZN, AXP, BUCY, CAL, DECK, HON, MSFT, NUE, PEP, TRV, UNP
Friday – FLIR, SLB
Postives Reactions this Past Week:
Look at these Charts
(click image to enlarge)
Guidance:
The SPX broke 1,200 support and closed at 1,192 forming a large black candle and an evening star pattern that we alerted you to in Thursday's post.
The SPX broke 1,200 support and closed at 1,192 forming a large black candle and an evening star pattern that we alerted you to in Thursday's post.
Our Yellow Alert turned Red on Friday for short term traders.
Continue to trade with the trend. Be mentally flexible and be willing to trade when your entry and exit signals appear.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX rose +2.47 and did confirm the lower close on Friday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is neutral.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
If you had been adjusting your stops according to your rules you may have been stopped out on Friday. Continue to adjust stops.
AAPL -1.52
QCOM +0.04
GOOG -45.15
BIDU -16.59
NDX 100 stocks stronger than the NDX include: ESRX, FLIR, GENZ, PPDI, ATVI, APOL, GILD, VRTX,LRCX, PDCO, ERTS, KLAC, CERN, CELG, INTU, COST, AMAT, AMGN, QCOM, NIHD, LIFE, LLTC, SRCL, NWSA, HSIC, ILMN, CTXS, ROST, MCHP, HANS, LINTA, ORLY, TEVA, DELL, AAPL, MSFT, SBUX, HOLX, CSCO and CTAS.
Stocks to Watch on Monday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, TDG, FAS, UYG, X, USD, SNDK, MELI, FLS, HDB, HLF, VAR, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, ESI, K
Moving Above 30 DMA = 0
Moving Below 30 DMA = 9
DECK, GMCR, ICE, SWN, GS, BA, FCX, SPG, ATI
Staying Below 30 DMA
X, BDX, WMT, HANS, MHS, WCG, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
Futures Point to a Lower Open on Options Expiration Friday...
9:32 am ET:
BMO – ES -6.00 and NQ -6.50 futures are flat in pre-market trading pointing to a flat to slightly lower open. AAPL -1.12, AMZN -0.97, GOOG -29.05 and BIDU -5.81 are lower in pre-market trading. INTC is down 13 cents, JPM down 22 cents.
Markets are lower this morning being led by GOOG, ISRG and AMD which are lower after positive earnings. Many stocks are poised to break the low of their high day either Wednesday or Thursday. Look for most stocks to lower.
Apparently GOOG earnings failed to impress.
The SPX formed a spinning top on Thursday and potentially could develop into an evening star pattern if a down day occurs today…look if a penetration of 1,204, the S1 level of Wednesday’s large white candle. Yellow Alert for short term traders.
BAC down 5 cents and GE down 5 cents.
Pre-Market
BAC diluted 28 cents vs. 9 cents estimates
GE 21 cents vs. 16 cents estimates
Key Earnings to Watch:
Friday – BAC, GE
The short term, intermediate term and long term trends are up.
April options expire today.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 72 pips in overnight trading. Oil is down 97 cents in electronic trading. XLE is down 39 cents in pre-market trading.
SPY is down 57 cents in pre-market trading. XLF is down 7 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,200, 1,178
Resistance = 1,216, 1,220
Trading Down: PCLN, FAS, GS, FCX, NFLX, CLF, X, UYG, CREE, CHL, USD, USO, AMD, BA, V, DE, WFC, SNDK, BUCY, SPG, CAT
Trading Up: GME, WHR, DECK, FAZ, MOS
At the Open on Thursday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Look at these Charts
(click image to enlarge)
BMO – ES -6.00 and NQ -6.50 futures are flat in pre-market trading pointing to a flat to slightly lower open. AAPL -1.12, AMZN -0.97, GOOG -29.05 and BIDU -5.81 are lower in pre-market trading. INTC is down 13 cents, JPM down 22 cents.
Markets are lower this morning being led by GOOG, ISRG and AMD which are lower after positive earnings. Many stocks are poised to break the low of their high day either Wednesday or Thursday. Look for most stocks to lower.
Apparently GOOG earnings failed to impress.
The SPX formed a spinning top on Thursday and potentially could develop into an evening star pattern if a down day occurs today…look if a penetration of 1,204, the S1 level of Wednesday’s large white candle. Yellow Alert for short term traders.
BAC down 5 cents and GE down 5 cents.
Pre-Market
BAC diluted 28 cents vs. 9 cents estimates
GE 21 cents vs. 16 cents estimates
Key Earnings to Watch:
Friday – BAC, GE
The short term, intermediate term and long term trends are up.
April options expire today.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 72 pips in overnight trading. Oil is down 97 cents in electronic trading. XLE is down 39 cents in pre-market trading.
SPY is down 57 cents in pre-market trading. XLF is down 7 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,200, 1,178
Resistance = 1,216, 1,220
Trading Down: PCLN, FAS, GS, FCX, NFLX, CLF, X, UYG, CREE, CHL, USD, USO, AMD, BA, V, DE, WFC, SNDK, BUCY, SPG, CAT
Trading Up: GME, WHR, DECK, FAZ, MOS
At the Open on Thursday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Thursday, April 15, 2010
An UPS Day in an Up Trend...
DJIA 11,144.57 +21.46 +0.19%
SP500 1,211.67 +1.02 +0.08%
COMPQ 2,515.69 +10.83 +0.43%
Russell 2000 724.21 +1.81 +0.25%
Exchange NYSE NASD
Advancing 1,461 1,551
Declining 1,551 1,149
Oil $85.60 -0.24
Gold $1,159.70 +0.70
SOX 398.86 +1.13
VIX 15.89 +0.30
Index Direction Confirmation
VIX Up No – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLI +0.96%…XLK +0.46%...XLY +0.43%
Weakest Sectors: XLF -0.41%...XLV -0.28%...XLP -0.18%
Three of nine sectors moved higher on Thursday. Industrials, Technology and Consumer Discretionary were stronger than the SPX +0.08%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF, XLK
Horizontal Breakout:
Sideways: XLB, XLE, XLV, XLU
Down Trending:
XLB and XLE are at horizontal resistance and have NOT yet broken through.
Key Resistance Levels
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
1,255 = Mar 16 BO chart target
Key Support Levels
1,200 = Jul 2008 support
Stock prices consolidated on Thursday as the SPX stayed above Wednesday’s S1 level of 1,204. Strong earnings from UPS led FDX and other transportation stocks higher. UAUA rose +5.28% as rumors of airline merger continued. The Dow Transports rallied 79.90, +1.72%.
After the close:
GOOG -29.10, -4.89%, $6.70 earnings vs. $6.60 estimates
ISRG -8.01, -2.06%, $2.12 earnings vs. $1.68 estimates
AMD -0.49, -4.82%, adjusted 9 cents earnings vs. -7 cents estimates
If these weak after hours earnings reactions carry through to Friday morning it could lead to a down day.
Many individual stocks and ETFs like UAUA, VAR, TSL, SYNA, WCG, USD, SNDK, WAB, GME, ALGT, CAT, PCP, FUQI, ATW and BUCY had strong gains on Thursday.
Key Earnings to Watch:
Friday – BAC, GE
Guidance:
The SPX closed at 1,211 forming a spinning top and the second candle in a potential evening star pattern. On Friday watch for penetration of Wednesday’s S1 level at 1,204 and formation of an evening star. Yellow Alert for short term traders.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX rose +0.30 and did NOT confirm the higher close on Thursday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +3.23
QCOM +0.10
GOOG +6.30
BIDU +11.30
NDX 100 stocks stronger than the NDX include: EXPD, FSLR, YHOO, INTC, FAST, WCRX, FISV, STX, CHRW, DELL, BIDU, JBHT, ALTR, AAPL, TEVA, CSCO, CTXS, SBUX, ADP, GOOG, AMZN, ISRG, IACI, MICC, NVDA, XRAY, ORLY, CTAS, PCAR, ADSK, URBN, CELG, MXIM, INTU and DISH.
Stocks to Watch on Friday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, SWN, ESI, ICE, K
Moving Above 30 DMA = 0
Moving Below 30 DMA = 1
X
Staying Below 30 DMA
BDX, WMT, HANS, MHS, WCG, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
SP500 1,211.67 +1.02 +0.08%
COMPQ 2,515.69 +10.83 +0.43%
Russell 2000 724.21 +1.81 +0.25%
Exchange NYSE NASD
Advancing 1,461 1,551
Declining 1,551 1,149
Oil $85.60 -0.24
Gold $1,159.70 +0.70
SOX 398.86 +1.13
VIX 15.89 +0.30
Index Direction Confirmation
VIX Up No – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLI +0.96%…XLK +0.46%...XLY +0.43%
Weakest Sectors: XLF -0.41%...XLV -0.28%...XLP -0.18%
Three of nine sectors moved higher on Thursday. Industrials, Technology and Consumer Discretionary were stronger than the SPX +0.08%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF, XLK
Horizontal Breakout:
Sideways: XLB, XLE, XLV, XLU
Down Trending:
XLB and XLE are at horizontal resistance and have NOT yet broken through.
Key Resistance Levels
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
1,255 = Mar 16 BO chart target
Key Support Levels
1,200 = Jul 2008 support
Stock prices consolidated on Thursday as the SPX stayed above Wednesday’s S1 level of 1,204. Strong earnings from UPS led FDX and other transportation stocks higher. UAUA rose +5.28% as rumors of airline merger continued. The Dow Transports rallied 79.90, +1.72%.
After the close:
GOOG -29.10, -4.89%, $6.70 earnings vs. $6.60 estimates
ISRG -8.01, -2.06%, $2.12 earnings vs. $1.68 estimates
AMD -0.49, -4.82%, adjusted 9 cents earnings vs. -7 cents estimates
If these weak after hours earnings reactions carry through to Friday morning it could lead to a down day.
Many individual stocks and ETFs like UAUA, VAR, TSL, SYNA, WCG, USD, SNDK, WAB, GME, ALGT, CAT, PCP, FUQI, ATW and BUCY had strong gains on Thursday.
Look at these Charts
(click image to enlarge)
Friday – BAC, GE
Guidance:
The SPX closed at 1,211 forming a spinning top and the second candle in a potential evening star pattern. On Friday watch for penetration of Wednesday’s S1 level at 1,204 and formation of an evening star. Yellow Alert for short term traders.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX rose +0.30 and did NOT confirm the higher close on Thursday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +3.23
QCOM +0.10
GOOG +6.30
BIDU +11.30
NDX 100 stocks stronger than the NDX include: EXPD, FSLR, YHOO, INTC, FAST, WCRX, FISV, STX, CHRW, DELL, BIDU, JBHT, ALTR, AAPL, TEVA, CSCO, CTXS, SBUX, ADP, GOOG, AMZN, ISRG, IACI, MICC, NVDA, XRAY, ORLY, CTAS, PCAR, ADSK, URBN, CELG, MXIM, INTU and DISH.
Stocks to Watch on Friday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, SWN, ESI, ICE, K
Moving Above 30 DMA = 0
Moving Below 30 DMA = 1
X
Staying Below 30 DMA
BDX, WMT, HANS, MHS, WCG, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
UPS Up...Futures Pointing to Flat to Slightly Lower Open...
BMO – ES -2.50 and NQ -4.25 futures are flat in pre-market trading pointing to a flat to slightly lower open. AAPL -0.44, AMZN +0.42, GOOG +2.10 and BIDU -0.16 are mixed in pre-market trading. INTC is up 26 cents, JPM down 10 cents.
Markets are near even this morning many stocks at on near Wednesday’s close in light pre-market trading. Look for select stocks to move higher while others consolidate Wednesday’s gains.
The SPX broke its 1,200 resistance…look for it to hold above 1,204, the S1 level of Wednesday’s large white candle.
UPS reported adjusted 71 cents vs. estimates of 58 after the close…
Pre-Market
UPS +3.05 beats estimates
Key Earnings to Watch:
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC
The short term, intermediate term and long term trends are up.
April options expire on Friday.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 109 pips in overnight trading. Oil is down 25 cents in electronic trading. XLE is up 4 cents in pre-market trading.
SPY is down 22 cents in pre-market trading. XLF is up 3 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,200, 1,178
Resistance = 1,216, 1,220
Trading Down: GMCR, FCX, DOW, X
Trading Up: ZION, FAS, MON, NFLX, CREE, UAUA, BAC
At the Open on Thursday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Markets are near even this morning many stocks at on near Wednesday’s close in light pre-market trading. Look for select stocks to move higher while others consolidate Wednesday’s gains.
The SPX broke its 1,200 resistance…look for it to hold above 1,204, the S1 level of Wednesday’s large white candle.
UPS reported adjusted 71 cents vs. estimates of 58 after the close…
Pre-Market
UPS +3.05 beats estimates
Key Earnings to Watch:
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC
The short term, intermediate term and long term trends are up.
April options expire on Friday.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 109 pips in overnight trading. Oil is down 25 cents in electronic trading. XLE is up 4 cents in pre-market trading.
SPY is down 22 cents in pre-market trading. XLF is up 3 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
Look at these Charts
(click image to enlarge)
SPX
Support = 1,200, 1,178
Resistance = 1,216, 1,220
Trading Down: GMCR, FCX, DOW, X
Trading Up: ZION, FAS, MON, NFLX, CREE, UAUA, BAC
At the Open on Thursday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Wednesday, April 14, 2010
SPX Breakout Fueled by Strong Earnings from INTC and JPM...
DJIA 11,123.11 +103.11 +0.94%
SP500 1,210.65 +13.35 +1.12%
COMPQ 2,504.86 +38.87 +1.58%
Russell 2000 722.40 +15.37 +2.17%
Exchange NYSE NASD
Advancing 2,379 2,166
Declining 695 567
Oil $85.84 +1.85
Gold $1,159.00 +6.20
SOX 397.73 +16.40
VIX 15.59 -0.61
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLF +2.59%…XLY +1.55%...XLI +1.29%
Weakest Sectors: XLV -0.34%...XLU +0.10%...XLP +0.14%
Eight of nine sectors moved higher on Wednesday. Financials, Consumer Discretionary, Technology and Industrials were stronger than the SPX +1.12%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF, XLK
Horizontal Breakout:
Sideways: XLB, XLE, XLV, XLU
Down Trending:
XLB and XLE are at horizontal resistance and have NOT yet broken through.
Key Resistance Levels
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
1,255 = Mar 16 BO chart target
Key Support Levels
1,200 = Jul 2008 support
1,178 = Fib extension
Wednesday was revelation day. We now know why a selloff didn’t gain any momentum over the last three weeks…big money was willing to accumulate stock due to their professional expectation of strong earning reports from an improving business climate. Not what the news told us…but what buying action and lack of selling action over the past three weeks shows us.
The SPX broke through 1,200 resistance early and never looked back. Led by strong earnings from bellwethers INTC and JPM, semiconductors and financials had large gains. Better than expected earnings during the first three days of earnings season led by INTC, JPM, FAST, INFY, CSX, LLTC and then UPS after the close on Wednesday has big money buying key stocks on bigger volume.
ZION, C, RF, KEY, JPM, BAC, ALL, WFC, AXP and GS led financial stocks higher. MRVL, TER, NSM, TS, LLTC, MU, NVLS, SNDK and AMAT led the SOX higher.
After the close UPS rose $3.05, 4.66% after reporting adjusted 71 cents earnings vs. estimates of 58 cents.
Wednesday’s strong positive reaction to INTC and JPM earnings as well as the after hours positive reactions to good earnings from UPS is a great third day in the earnings season.
Many individual stocks and ETFs like USD, FAS, ZION, WAB, UYG, SNDK, ATW, UAUA, CREE, BAC, AMED, WFC, AMD, HLF, GS and PCLN had strong gains on Wednesday.
Key Earnings to Watch:
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC
Guidance:
The SPX closed at 1,210 forming a large white candle reversing the potential hanging man on Tuesday the potential shooting star on Tuesday. Indicating why I teach you not to act on potentially bearish candles without confirmation in a strong up trend.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -0.61 and did confirm the higher close on Wednesday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +3.26
QCOM +0.30
GOOG +16.27
BIDU +11.00
NDX 100 stocks stronger than the NDX include: MRVL, DELL, LLTC, STX, MXIM, FSLR, ISRG, WCRX, MCHP, AMAT KLAC, JOYG, BRCM, NTAP, SHLD, LRCX, INTC, ORLY, STLD, HOLX, EXPD, XLNX, PCLN, LOGI, AMZN FLEX, DTV, PPDI, NWSA, SPLS, SYMC, LIFE, JBHT, URBN, FLIR, ERTS, AKAM, CHRW, LINTA, GRMN, HSIC, PDCO, RIMM, BIDU, EXPE, CSCO, ALTR, ALTR, EBAY, PCAR and CERN.
Stocks to Watch on Thursday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, SWN, ESI
Moving Above 30 DMA = 2
ICE, K
Moving Below 30 DMA = 0
Staying Below 30 DMA
BDX, WMT, HANS, MHS, WCG, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
SP500 1,210.65 +13.35 +1.12%
COMPQ 2,504.86 +38.87 +1.58%
Russell 2000 722.40 +15.37 +2.17%
Exchange NYSE NASD
Advancing 2,379 2,166
Declining 695 567
Oil $85.84 +1.85
Gold $1,159.00 +6.20
SOX 397.73 +16.40
VIX 15.59 -0.61
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLF +2.59%…XLY +1.55%...XLI +1.29%
Weakest Sectors: XLV -0.34%...XLU +0.10%...XLP +0.14%
Eight of nine sectors moved higher on Wednesday. Financials, Consumer Discretionary, Technology and Industrials were stronger than the SPX +1.12%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF, XLK
Horizontal Breakout:
Sideways: XLB, XLE, XLV, XLU
Down Trending:
XLB and XLE are at horizontal resistance and have NOT yet broken through.
Key Resistance Levels
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
1,255 = Mar 16 BO chart target
Key Support Levels
1,200 = Jul 2008 support
1,178 = Fib extension
Wednesday was revelation day. We now know why a selloff didn’t gain any momentum over the last three weeks…big money was willing to accumulate stock due to their professional expectation of strong earning reports from an improving business climate. Not what the news told us…but what buying action and lack of selling action over the past three weeks shows us.
The SPX broke through 1,200 resistance early and never looked back. Led by strong earnings from bellwethers INTC and JPM, semiconductors and financials had large gains. Better than expected earnings during the first three days of earnings season led by INTC, JPM, FAST, INFY, CSX, LLTC and then UPS after the close on Wednesday has big money buying key stocks on bigger volume.
ZION, C, RF, KEY, JPM, BAC, ALL, WFC, AXP and GS led financial stocks higher. MRVL, TER, NSM, TS, LLTC, MU, NVLS, SNDK and AMAT led the SOX higher.
After the close UPS rose $3.05, 4.66% after reporting adjusted 71 cents earnings vs. estimates of 58 cents.
Wednesday’s strong positive reaction to INTC and JPM earnings as well as the after hours positive reactions to good earnings from UPS is a great third day in the earnings season.
Many individual stocks and ETFs like USD, FAS, ZION, WAB, UYG, SNDK, ATW, UAUA, CREE, BAC, AMED, WFC, AMD, HLF, GS and PCLN had strong gains on Wednesday.
Look at these Charts
(click image to enlarge)
Key Earnings to Watch:
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC
Guidance:
The SPX closed at 1,210 forming a large white candle reversing the potential hanging man on Tuesday the potential shooting star on Tuesday. Indicating why I teach you not to act on potentially bearish candles without confirmation in a strong up trend.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -0.61 and did confirm the higher close on Wednesday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +3.26
QCOM +0.30
GOOG +16.27
BIDU +11.00
NDX 100 stocks stronger than the NDX include: MRVL, DELL, LLTC, STX, MXIM, FSLR, ISRG, WCRX, MCHP, AMAT KLAC, JOYG, BRCM, NTAP, SHLD, LRCX, INTC, ORLY, STLD, HOLX, EXPD, XLNX, PCLN, LOGI, AMZN FLEX, DTV, PPDI, NWSA, SPLS, SYMC, LIFE, JBHT, URBN, FLIR, ERTS, AKAM, CHRW, LINTA, GRMN, HSIC, PDCO, RIMM, BIDU, EXPE, CSCO, ALTR, ALTR, EBAY, PCAR and CERN.
Stocks to Watch on Thursday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, SWN, ESI
Moving Above 30 DMA = 2
ICE, K
Moving Below 30 DMA = 0
Staying Below 30 DMA
BDX, WMT, HANS, MHS, WCG, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
INTC, JPM and Futures Point to a Higher Open and Trend Continuation...
BMO – ES +5.50 and NQ +11.75 futures are flat in pre-market trading pointing to a flat open. AAPL +1.27, AMZN +0.83, GOOG +3.08 and BIDU +2.34 are mixed in pre-market trading. INTC is up 1.01.
It looks like the positive reaction to INTC, LLTC and CSX earnings is going to carry over into the broader market this morning. Financial and energy are also looking strong this morning…
Look for the SPX to break its 1,200 resistance and move towards 1,216 on its way to the 1,255 target.
JPM reported 74 cents vs. estimates of 64 this morning before the open…
Pre-Market
JPM +1.55 beats estimates
INTC +1.01 beats estimates
LLTC +1.05 beats estimates
CSX +1.22 beats estimates
Key Earnings to Watch:
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
As of the close on Tuesday the short term, intermediate term and long term trends are up.
April options expire on Friday.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 7 pips in overnight trading. Oil is up 72 cents in electronic trading. XLE is up 10 cents in pre-market trading.
SPY is up 48 cents in pre-market trading. XLF is up 21 cents on the JPM earnings in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: POT, MOS, IPI, FAZ
Trading Up: FAS, GS, CREE, WLT, CLF, USD, X, FCX, SNDK, BA, WFC, STT, MCD, NFLX, MHS, BAC, BUCY, USO, AMD, CAT, ICE, ZION, GMCR, FUQI, UYG
At the Open on Wednesday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
It looks like the positive reaction to INTC, LLTC and CSX earnings is going to carry over into the broader market this morning. Financial and energy are also looking strong this morning…
Look for the SPX to break its 1,200 resistance and move towards 1,216 on its way to the 1,255 target.
JPM reported 74 cents vs. estimates of 64 this morning before the open…
Pre-Market
JPM +1.55 beats estimates
INTC +1.01 beats estimates
LLTC +1.05 beats estimates
CSX +1.22 beats estimates
Key Earnings to Watch:
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
As of the close on Tuesday the short term, intermediate term and long term trends are up.
April options expire on Friday.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 7 pips in overnight trading. Oil is up 72 cents in electronic trading. XLE is up 10 cents in pre-market trading.
SPY is up 48 cents in pre-market trading. XLF is up 21 cents on the JPM earnings in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
Look at these Charts
(click image to enlarge)
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: POT, MOS, IPI, FAZ
Trading Up: FAS, GS, CREE, WLT, CLF, USD, X, FCX, SNDK, BA, WFC, STT, MCD, NFLX, MHS, BAC, BUCY, USO, AMD, CAT, ICE, ZION, GMCR, FUQI, UYG
At the Open on Wednesday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Tuesday, April 13, 2010
INTC Jumps 92 cents After Earnings Beat Estimates and Profits Triple...
DJIA 11,019.42 +13.45 +0.12%
SP500 1,197.30 +0.82 +0.07%
COMPQ 2,465.99 +8.12 +0.33%
Russell 2000 707.03 +1.97 +0.28%
Exchange NYSE NASD
Advancing 1,572 1,383
Declining 1,488 1,302
Oil $84.05 -0.29
Gold $1,153.00 -9.60
SOX 381.33 +2.36
VIX 16.20 +0.62
Index Direction Confirmation
VIX Up No – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLY +0.53%…XLK +0.30%...XLI +0.16%
Weakest Sectors: XLU -0.53%...XLB -0.37%...XLE -0.35%
Five of nine sectors moved higher on Tuesday. Consumer Discretionary, Technology, Industrials and Healthcare were stronger than the SPX +0.07%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
After the close INTC rose 92 cents after reporting 43 cents earnings vs. estimates of 38 cents. In the same quarter a year ago INTC earned 11 cents per share.
Also after the close...LLTC rose 85 cents after reporting 44 cents vs. 39 cents estimate…CSX rose 67 cents after reporting 78 cents vs. 69 cents estimates.
Before the open FAST +1.10, +2.12% reported 38 cents vs. estimates of 33 cents…INFY +1.62, +2.64% reported 61 cents vs. estimates of 57 cents.
Tuesday’s strong positive reaction to FAST and INFY earnings as well as the after hours positive reactions to good earnings from INTC, LLTC and CSX is a very good start to the earnings season. Also AA meeting estimates and essential a neutral reaction to the news adds strength to the idea that sellers may not have the catalyst to move the market lower.
Many individual stocks like ESI, URE, NFLX, SPG, AMED, UNG, USD, DECK AMD, JEC, SWK, UNP and WAB had relatively strong gains on Tuesday.
Key Earnings to Watch:
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
Guidance:
The SPX closed at 1,197 forming a potential hanging man which did NOT confirm Monday’s potential shooting star.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX rose +0.62 and did NOT confirm the higher close on Tuesday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +0.14
QCOM +0.07
GOOG +14.04
BIDU +0.50
NDX 100 stocks stronger than the NDX include: ISRG, APOL, CTSH, YHOO, NWSA, RIMM, INFY, GOOG, IACI, FAST, NVDA, VRTX, CELG, MXIM, INTU, BRCM, WYNN, MCHP, HOLX, AMAT, MICC, ALTR, LLTC, GILD, NIHD, INTC, KLAC, SBUX, XRAY, ROST, SIAL, WCRX, ADSK, PCAR, CTAS, XLNX, GRMN, URBN, DISH, PDCO, HSIC,ORCL, JBHT, AMGN, ESRX and EXPD.
Stocks to Watch on Wednesday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, SWN
Moving Above 30 DMA = 1
ESI
Moving Below 30 DMA = 2
BDX, WMT
Staying Below 30 DMA
HANS, MHS, WCG, PWRD, AGU, K, ICE, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
SP500 1,197.30 +0.82 +0.07%
COMPQ 2,465.99 +8.12 +0.33%
Russell 2000 707.03 +1.97 +0.28%
Exchange NYSE NASD
Advancing 1,572 1,383
Declining 1,488 1,302
Oil $84.05 -0.29
Gold $1,153.00 -9.60
SOX 381.33 +2.36
VIX 16.20 +0.62
Index Direction Confirmation
VIX Up No – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLY +0.53%…XLK +0.30%...XLI +0.16%
Weakest Sectors: XLU -0.53%...XLB -0.37%...XLE -0.35%
Five of nine sectors moved higher on Tuesday. Consumer Discretionary, Technology, Industrials and Healthcare were stronger than the SPX +0.07%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
After the close INTC rose 92 cents after reporting 43 cents earnings vs. estimates of 38 cents. In the same quarter a year ago INTC earned 11 cents per share.
Also after the close...LLTC rose 85 cents after reporting 44 cents vs. 39 cents estimate…CSX rose 67 cents after reporting 78 cents vs. 69 cents estimates.
Before the open FAST +1.10, +2.12% reported 38 cents vs. estimates of 33 cents…INFY +1.62, +2.64% reported 61 cents vs. estimates of 57 cents.
Tuesday’s strong positive reaction to FAST and INFY earnings as well as the after hours positive reactions to good earnings from INTC, LLTC and CSX is a very good start to the earnings season. Also AA meeting estimates and essential a neutral reaction to the news adds strength to the idea that sellers may not have the catalyst to move the market lower.
Many individual stocks like ESI, URE, NFLX, SPG, AMED, UNG, USD, DECK AMD, JEC, SWK, UNP and WAB had relatively strong gains on Tuesday.
Look at these Charts
(click image to enlarge)
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
Guidance:
The SPX closed at 1,197 forming a potential hanging man which did NOT confirm Monday’s potential shooting star.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX rose +0.62 and did NOT confirm the higher close on Tuesday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +0.14
QCOM +0.07
GOOG +14.04
BIDU +0.50
NDX 100 stocks stronger than the NDX include: ISRG, APOL, CTSH, YHOO, NWSA, RIMM, INFY, GOOG, IACI, FAST, NVDA, VRTX, CELG, MXIM, INTU, BRCM, WYNN, MCHP, HOLX, AMAT, MICC, ALTR, LLTC, GILD, NIHD, INTC, KLAC, SBUX, XRAY, ROST, SIAL, WCRX, ADSK, PCAR, CTAS, XLNX, GRMN, URBN, DISH, PDCO, HSIC,ORCL, JBHT, AMGN, ESRX and EXPD.
Stocks to Watch on Wednesday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, SWN
Moving Above 30 DMA = 1
ESI
Moving Below 30 DMA = 2
BDX, WMT
Staying Below 30 DMA
HANS, MHS, WCG, PWRD, AGU, K, ICE, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Futures Point to a Flat Open...
BMO – ES -1.00 and NQ -1.50 futures are flat in pre-market trading pointing to a flat open. AAPL -0.34, AMZN +0.01, GOOG +1.40 and BIDU +0.14 are mixed in pre-market trading. INTC is up 10 cents.
Pre-market trading looks like wait and see as the market moves into earnings announcements.
Earnings Season is officially underway. Check back as we keep you up to date on key earnings reactions…for Technology INTC on Tuesday is huge…and for Financials JPM on Wednesday…
Pre-Market
ESI +5.42 analyst upgrade
PCLN -5.70 analyst downgrade
AA -0.26 meets estimates
FAST +1.81 beats estimates
INFY +0.51 beats estimates
Key Earnings to Watch:
Tuesday – CSX, INTC, LLTC
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Keep in mind as of the close on Monday the short term, intermediate term and long term trends are up.
April options expire on Friday.
Trade those charts that meet your rules in the direction of the trend.
The Euro is up 32 pips in overnight trading. Oil is down 57 cents in electronic trading. XLE is down 9 cents in pre-market trading.
SPY is down 12 cents in pre-market trading. XLF is down 2 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: PCLN, MON, FAS, TSL, GME, BUCY, FCX, CLF, SNDK, POT, UAUA, V, USO, BA, MOS, WLT, WFC
Trading Up: ESI, VAR, CHL
At the Open on Tuesday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Pre-market trading looks like wait and see as the market moves into earnings announcements.
Earnings Season is officially underway. Check back as we keep you up to date on key earnings reactions…for Technology INTC on Tuesday is huge…and for Financials JPM on Wednesday…
Pre-Market
ESI +5.42 analyst upgrade
PCLN -5.70 analyst downgrade
AA -0.26 meets estimates
FAST +1.81 beats estimates
INFY +0.51 beats estimates
Key Earnings to Watch:
Tuesday – CSX, INTC, LLTC
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Keep in mind as of the close on Monday the short term, intermediate term and long term trends are up.
April options expire on Friday.
Trade those charts that meet your rules in the direction of the trend.
The Euro is up 32 pips in overnight trading. Oil is down 57 cents in electronic trading. XLE is down 9 cents in pre-market trading.
SPY is down 12 cents in pre-market trading. XLF is down 2 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
Look at these Charts
(click image to enlarge)
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: PCLN, MON, FAS, TSL, GME, BUCY, FCX, CLF, SNDK, POT, UAUA, V, USO, BA, MOS, WLT, WFC
Trading Up: ESI, VAR, CHL
At the Open on Tuesday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Monday, April 12, 2010
INDU Closes Above 11,000...
DJIA 11,005.97 +8.62 +0.08%
SP500 1,196.48 +2.11 +0.18%
COMPQ 2,457.87 +3.82 +0.16%
Russell 2000 705.06 +2.11 +0.30%
Exchange NYSE NASD
Advancing 1,752 1,486
Declining 1,305 1,216Oil $84.34 -0.56
Gold $1,161.60 +0.50
SOX 378.97 +3.21
VIX 15.58 -0.56
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
This is a new Low Close for the VIX.
Strongest Sectors: XLF +0.42%…XLP +0.32%...XLU +0.26%
Weakest Sectors: XLB -0.32%...XLV -0.28%...XLY +0.00%
Six of nine sectors moved higher on Monday. Financials, Consumer Staples, Utilities, Energy, Industrials and Technology were stronger than the SPX +0.18%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
The INDU closed above 11,000 for the first time since the fall of 2008 and SPX traded just below its 1,200 resistance level at its intra-day high of 1,199.20 before closing at 1,196.48, a new high close. Trading was in a narrow range of just 4.49 points as VIX fell to its lowest level in over 2 years.
While the broad indices slightly higher on Monday many individual stocks like TSL, MELI, UAUA, ZION, ALGT, BKC, STT, CAT, AMED, CBST, USD, ICE, GR, AMD, FAS, WHR, FLS, SWN and CAM had relatively strong gains for the day.
Look at these Charts
(click image to enlarge)
Key Earnings to Watch:Monday – AA, FAST, INFY
Tuesday – CSX, INTC, LLTC
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
Guidance:
The SPX closed at 1,196 forming a potential shooting star and forming a higher low and higher high on Monday.
Staying with the up trend was rewarded again on Monday by many stocks moving higher.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell another -0.56 and did confirm the higher close on Monday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +0.50
QCOM +0.06
GOOG +6.51
BIDU +0.69
NDX 100 stocks stronger than the NDX include: FSLR, EXPE, FLEX, ALTR, NVDA, RYAAY, SRCL, JOYG, FAST, LBTYA, AMAT, GOOG, CTXS, ISRG, ADSK, XLNX, AKAM, MRVL, RIMM, AMZN, LLTC, INFY, CMCSA, YHOO, DELL, BBBY, CA, SYMC, CTSH, ORCL, STLD, KLAC, LINTA, LOGI, LRCX, MCHP, EBAY, PCLN, MXIM, ROST, AAPL, ERTS, ATVI, GILD, QCOM DTV, ORLY and BIDU.
Stocks to Watch on Tuesday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, WMT, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, BDX
Moving Above 30 DMA = 3
ALGT, AMED, SWN
Moving Below 30 DMA = 2
HANS, MHS
Staying Below 30 DMA
WCG, PWRD, ESI, AGU, K, ICE, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Futures Point to a Flat Open...
BMO – ES +0.00 and NQ +0.75 futures are flat in pre-market trading pointing to a flat open. AAPL +0.21, AMZN -0.32, GOOG -0.06 and BIDU +0.10 are mixed in pre-market trading. INTC is up 11 cents.
DECK and FCX are lower in pre-market trading on analyst down grades.
Keep in mind as of the close on Friday the short term, intermediate term and long term trends are up.
The big news this week is Earnings Season starts today with AA and options expiration is on Friday. Options expiration week generally has an up ward bias to it, however earnings reactions will the focus for the week. For Materials stocks AA will be important…for Technology INTC on Tuesday is huge…and for Financials JPM on Wednesday…
Key Earnings to Watch:
Monday – AA, FAST, INFY, JBHT
Tuesday – CSX, INTC, LLTC
Wednesday – JPM
Trade those charts that meet our rules in the direction of the trend.
The Euro is down pips in overnight trading. Oil is down 40 cents in electronic trading. XLE is down 13 cents in pre-market trading.
SPY is up 10 cents in pre-market trading. XLF is up 2 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: CEDC, DECK, FCX, JEC, ACN, DE, WLT, BA
Trading Up: ICE, GR, MA, FLS, CAT, BUCY, FAS, HANS, ZION, CLF, GS, IPI, UAUA, CBST, V, CREE, SWN, MCD, STT, SNDK
At the Open on Monday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
DECK and FCX are lower in pre-market trading on analyst down grades.
Keep in mind as of the close on Friday the short term, intermediate term and long term trends are up.
The big news this week is Earnings Season starts today with AA and options expiration is on Friday. Options expiration week generally has an up ward bias to it, however earnings reactions will the focus for the week. For Materials stocks AA will be important…for Technology INTC on Tuesday is huge…and for Financials JPM on Wednesday…
Key Earnings to Watch:
Monday – AA, FAST, INFY, JBHT
Tuesday – CSX, INTC, LLTC
Wednesday – JPM
Trade those charts that meet our rules in the direction of the trend.
The Euro is down pips in overnight trading. Oil is down 40 cents in electronic trading. XLE is down 13 cents in pre-market trading.
SPY is up 10 cents in pre-market trading. XLF is up 2 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
Look at these Charts
(click image to enlarge)
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: CEDC, DECK, FCX, JEC, ACN, DE, WLT, BA
Trading Up: ICE, GR, MA, FLS, CAT, BUCY, FAS, HANS, ZION, CLF, GS, IPI, UAUA, CBST, V, CREE, SWN, MCD, STT, SNDK
At the Open on Monday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Friday, April 9, 2010
SPX New High Close on Late Rally...
DJIA 10,997.35 +70.28 +0.64%
SP500 1,194.37 +7.93 +0.67%
COMPQ 2,454.05 +17.24 +0.71%
Russell 2000 702.95 +3.31 +0.47%
Exchange NYSE NASD
Advancing 2,068 1,465
Declining 967 1,202
Oil $84.90 -0.49
Gold $1,161.10 +8.90
SOX 375.76 +4.29
VIX 16.14 -0.34
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
This is a new Low Close for the VIX.
Strongest Sectors: XLE +1.06%…XLK +0.77%...XLY +0.74%
Weakest Sectors: XLB +0.17%...XLF +0.37%...XLV +0.44%
All nine sectors moved higher on Friday. Energy, Technology, Consumer Discretionary and Utilities were stronger than the SPX +0.67%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
The SPX traded in a narrow range near resistance most of Friday before breaking out to a new high close during the last hour of trading. Transportation, Semiconductors, Energy and Technology stocks were strong as all nine sectors closed higher on the day.
Sellers which might have made a move this week after last week’s three day weekend sold aggressively on Wednesday but had no follow through as the market bounced on Thursday and moved higher on Friday. Sellers had no conviction this week which bodes well for the existing up trend.
The focus will be on earnings season which starts on Monday. Watch the reaction to key stocks. If earnings reports next week are strong and the price reaction is positive expect the current up trend to continue.
Key Earnings to Watch:
Monday – AA, FAST, INFY, JBHT
Tuesday – CSX, INTC LLTC
Wednesday – JPM
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
Guidance:
The SPX closed at 1,194 forming a higher low and higher high on Friday.
Staying with the up trend was rewarded again on Friday by many stocks moving higher.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -0.34 and did confirm the higher close on Friday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +1.84
QCOM -0.23
GOOG -1.27
BIDU +5.62
NDX 100 stocks stronger than the NDX include: DISH, NWSA, ISRG, LOGI, ATVI, PPDI,
CTXS, FWLT, STX, CERN, SYMC, JOYG, CEPH, PCAR, NTAP, MXIM, LLTC, AKAM, LIFE, BRCM, LBTYA, MRVL, CTSH, CHRW, ADBE, DTV, MSFT, KLAC, EXPD, CSCO, ORCL, SIAL, MICC, HANS, WYNN, HOLX, INFY, INTC, LRCX, PAYX, YHOO, FISV, SHLD, AMAT, BIDU, XRAY, VRSN, ERTS, ADP and GENZ.
Stocks to Watch on Monday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, WMT, GES, GMCR, TDG, FAS, UYG, X, USD,SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, MHS, ACN, WAB
Moving Above 30 DMA = 2
BDX, HANS
Moving Below 30 DMA = 3
ALGT, WCG, PWRD
Staying Below 30 DMA
ESI, AGU, K, SWN, ICE, MYGN, IPI, POT, MOS, HEAT, VPRT, AMED, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
SP500 1,194.37 +7.93 +0.67%
COMPQ 2,454.05 +17.24 +0.71%
Russell 2000 702.95 +3.31 +0.47%
Exchange NYSE NASD
Advancing 2,068 1,465
Declining 967 1,202
Oil $84.90 -0.49
Gold $1,161.10 +8.90
SOX 375.76 +4.29
VIX 16.14 -0.34
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
This is a new Low Close for the VIX.
Strongest Sectors: XLE +1.06%…XLK +0.77%...XLY +0.74%
Weakest Sectors: XLB +0.17%...XLF +0.37%...XLV +0.44%
All nine sectors moved higher on Friday. Energy, Technology, Consumer Discretionary and Utilities were stronger than the SPX +0.67%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
The SPX traded in a narrow range near resistance most of Friday before breaking out to a new high close during the last hour of trading. Transportation, Semiconductors, Energy and Technology stocks were strong as all nine sectors closed higher on the day.
Sellers which might have made a move this week after last week’s three day weekend sold aggressively on Wednesday but had no follow through as the market bounced on Thursday and moved higher on Friday. Sellers had no conviction this week which bodes well for the existing up trend.
Look at these Charts
(click image to enlarge)
The focus will be on earnings season which starts on Monday. Watch the reaction to key stocks. If earnings reports next week are strong and the price reaction is positive expect the current up trend to continue.
Key Earnings to Watch:
Monday – AA, FAST, INFY, JBHT
Tuesday – CSX, INTC LLTC
Wednesday – JPM
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
Guidance:
The SPX closed at 1,194 forming a higher low and higher high on Friday.
Staying with the up trend was rewarded again on Friday by many stocks moving higher.
Continue to trade with the trend. Be mentally flexible.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -0.34 and did confirm the higher close on Friday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +1.84
QCOM -0.23
GOOG -1.27
BIDU +5.62
NDX 100 stocks stronger than the NDX include: DISH, NWSA, ISRG, LOGI, ATVI, PPDI,
CTXS, FWLT, STX, CERN, SYMC, JOYG, CEPH, PCAR, NTAP, MXIM, LLTC, AKAM, LIFE, BRCM, LBTYA, MRVL, CTSH, CHRW, ADBE, DTV, MSFT, KLAC, EXPD, CSCO, ORCL, SIAL, MICC, HANS, WYNN, HOLX, INFY, INTC, LRCX, PAYX, YHOO, FISV, SHLD, AMAT, BIDU, XRAY, VRSN, ERTS, ADP and GENZ.
Stocks to Watch on Monday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, WMT, GES, GMCR, TDG, FAS, UYG, X, USD,SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, MHS, ACN, WAB
Moving Above 30 DMA = 2
BDX, HANS
Moving Below 30 DMA = 3
ALGT, WCG, PWRD
Staying Below 30 DMA
ESI, AGU, K, SWN, ICE, MYGN, IPI, POT, MOS, HEAT, VPRT, AMED, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Futures Point to a Slightly Higher Open...
BMO – ES +1.75 and NQ +2.00 futures are lower in pre-market trading pointing to a lower open. AAPL +1.14, AMZN +0.54, GOOG +1.41 and BIDU +3.14 are higher in pre-market trading.
It appears based on pre-market trading this morning that we are in for an early continuation of Thursday’s support bounce. The SPX fell to 1,175 before bouncing as the 1,178 support area held and rallied 11 points to close at 1,186.
Watch the SOX and semiconductors as they were weak on Thursday, but look to open stronger this morning. I mentioned in the Talk last night that the semis regularly have a day lag to other tech stocks and it appears that may be happening again this morning.
Trade those charts that meet our rules in the direction of the trend.
The Euro is up 24 pips in overnight trading. Oil is up 57eur/usd cents in electronic trading. XLE is up 30 cents in pre-market trading.
SPY is up 26 cents in pre-market trading. XLF is up 7 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: NFLX, SYNA, FAZ
Trading Up: CEDC, WLT, CLF, FAS, DECK, BUCY, POT, GS, X, VAR, SWN, JEC, MOS, FCX, MA, V, ZION, ACN, CAT, CREE, GMCR, SNDK, MCD, BAC
At the Open on Friday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
It appears based on pre-market trading this morning that we are in for an early continuation of Thursday’s support bounce. The SPX fell to 1,175 before bouncing as the 1,178 support area held and rallied 11 points to close at 1,186.
Watch the SOX and semiconductors as they were weak on Thursday, but look to open stronger this morning. I mentioned in the Talk last night that the semis regularly have a day lag to other tech stocks and it appears that may be happening again this morning.
Trade those charts that meet our rules in the direction of the trend.
The Euro is up 24 pips in overnight trading. Oil is up 57eur/usd cents in electronic trading. XLE is up 30 cents in pre-market trading.
SPY is up 26 cents in pre-market trading. XLF is up 7 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
Look at these Charts
(click image to enlarge)
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: NFLX, SYNA, FAZ
Trading Up: CEDC, WLT, CLF, FAS, DECK, BUCY, POT, GS, X, VAR, SWN, JEC, MOS, FCX, MA, V, ZION, ACN, CAT, CREE, GMCR, SNDK, MCD, BAC
At the Open on Friday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
Thursday, April 8, 2010
Intra-day Reversal Bounce in SPX...
DJIA 10,927.55 +29.55 +0.27%
SP500 1,186.44 +3.99 +0.34%
COMPQ 2,436.81 +5.65 +0.23%
Russell 2000 699.64 +0.18 +0.03%
Exchange NYSE NASD
Advancing 1,572 1,374
Declining 1,443 1,299
Oil $85.30 -0.58
Gold $1,152.20 -0.10
SOX 371.47 -5.42
Index Direction Confirmation
VIX Down Yes – SPX
SOX Down No – COMPQ
Strongest Sectors: XLY +0.96%…XLF +0.80%...XLE +0.36%
Weakest Sectors: XLU -0.60%...XLV -0.37%...XLK +0.17%
Seven of nine sectors moved higher on Thursday. Consumer Discretionary, Financials and Energy were stronger than the SPX +0.34%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
The SPX, INDU, COMPQ and RUT bounced on Thursday and closed higher while the SOX closed lower. Potentially bearish candles on Wednesday did not confirm on Thursday.
As we alerted you in Thursday morning’s post airline stocks rallied on news of UAUA and LCC merger talks. XLF moved higher led by relatively stronger financial stocks GS, MS, BAC, MET, AXP, RF, PNC, USB, NTRS, BK, PRU and ALL. Casino stocks WYNN, LVS and MGM rose. WHR, NFLX, and ISRG also had solid gains.
Guidance:
The SPX closed at 1,186.44 making a lower high and lower low than Wednesday while closing higher.
Staying with the up trend was rewarded on Thursday by many stocks moving higher.
Continue to trade with the trend. Be mentally flexible. Short term traders are still on Yellow Alert for a potential exit from the short term up trend if price breaks support.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX rose -0.14 and did confirm the higher close on Thursday.
The short term trend is neutral.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL -0.65
QCOM -0.37
GOOG +3.95
BIDU +2.11
NDX 100 stocks stronger than the NDX include WYNN, AMZN, BBBY, ROST, YHOO, JBHT, ISRG, MSFT, NWSA, CERN, ADSK, ESRX, DISH, LINTA, FWLT, CA, GENZ, FLEX, CHRW, PAYX, GILD, PPDI, LOGI, CMCSA, INFY, MICC, GOOG, IACI, RYAAY, EXPD, DELL, NIHD, PDCO, BIDU, JOYG, AMGN, PCAR, DTV and VRSN.
Stocks to Watch on Friday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, URE, DE, UNP, V, BAC, DE, DHR, URE, JEC, WMT, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, WCG, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ALGT, MHS
Moving Above 30 DMA = 3
ACN, PWRD, WAB
Moving Below 30 DMA = 2
ESI, HANS
Staying Below 30 DMA
AGU, K, SWN, ACN, ICE, MYGN, BDX, IPI, POT, MOS, HEAT, VPRT, AMED, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
SP500 1,186.44 +3.99 +0.34%
COMPQ 2,436.81 +5.65 +0.23%
Russell 2000 699.64 +0.18 +0.03%
Exchange NYSE NASD
Advancing 1,572 1,374
Declining 1,443 1,299
Oil $85.30 -0.58
Gold $1,152.20 -0.10
SOX 371.47 -5.42
VIX 16.48 -0.14
VIX Down Yes – SPX
SOX Down No – COMPQ
Strongest Sectors: XLY +0.96%…XLF +0.80%...XLE +0.36%
Weakest Sectors: XLU -0.60%...XLV -0.37%...XLK +0.17%
Seven of nine sectors moved higher on Thursday. Consumer Discretionary, Financials and Energy were stronger than the SPX +0.34%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23
The SPX, INDU, COMPQ and RUT bounced on Thursday and closed higher while the SOX closed lower. Potentially bearish candles on Wednesday did not confirm on Thursday.
As we alerted you in Thursday morning’s post airline stocks rallied on news of UAUA and LCC merger talks. XLF moved higher led by relatively stronger financial stocks GS, MS, BAC, MET, AXP, RF, PNC, USB, NTRS, BK, PRU and ALL. Casino stocks WYNN, LVS and MGM rose. WHR, NFLX, and ISRG also had solid gains.
Look at these Charts
(click image to enlarge)
The SPX closed at 1,186.44 making a lower high and lower low than Wednesday while closing higher.
Staying with the up trend was rewarded on Thursday by many stocks moving higher.
Continue to trade with the trend. Be mentally flexible. Short term traders are still on Yellow Alert for a potential exit from the short term up trend if price breaks support.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX rose -0.14 and did confirm the higher close on Thursday.
The short term trend is neutral.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL -0.65
QCOM -0.37
GOOG +3.95
BIDU +2.11
NDX 100 stocks stronger than the NDX include WYNN, AMZN, BBBY, ROST, YHOO, JBHT, ISRG, MSFT, NWSA, CERN, ADSK, ESRX, DISH, LINTA, FWLT, CA, GENZ, FLEX, CHRW, PAYX, GILD, PPDI, LOGI, CMCSA, INFY, MICC, GOOG, IACI, RYAAY, EXPD, DELL, NIHD, PDCO, BIDU, JOYG, AMGN, PCAR, DTV and VRSN.
Stocks to Watch on Friday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, URE, DE, UNP, V, BAC, DE, DHR, URE, JEC, WMT, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, WCG, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ALGT, MHS
Moving Above 30 DMA = 3
ACN, PWRD, WAB
Moving Below 30 DMA = 2
ESI, HANS
Staying Below 30 DMA
AGU, K, SWN, ACN, ICE, MYGN, BDX, IPI, POT, MOS, HEAT, VPRT, AMED, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
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