Tuesday Recap

Markets continued their rebound for the third consecutive day Tuesday. The Nasdaq rose 1% today in strong volume, while the S&P 500 advanced 0.8% in weaker volume. Leading stocks were relatively quiet although FOSL rocketed ahead 13% post earnings. Others leaders which achieved all time highs today were AMZN WSM BMC TPX CE. CROX rallied 5%, RAX rallied 3%. It a good sign when the market leaders outperform and show their muscle. A lot of stocks retook key moving averages Tuesday. More volume to give the emerging rally some legs. Groups which led today were tech, (buoyed by MSFT merger news),chemicals and healthcare related companies. Ags lagged. After hours DIS MCP reported. DIS missed and MCP was off in late trading. Tomorrow before the bell IL AH report, while SINA does so after the bell.

Stocks that are at specific buy points include are: Cup with handles are PVH 71.91, EBAY 34.75, CHRW 81.63, UPS 75.68, QCOM 58.56, TXN 36.08. Cup bases are JBL 23.19, ADI 41.76, MXIM 28.54, GR 94.22. Double bottom with handles are EXPD 55.40, AAPL 355.23. Double bottom is TRW 60.40, and flat base is DFS 25.21.

Stocks that can be purchased as they reclaim their 50 day MAs and their buy stop spots are CBE 65.50, PLL 57.25, VPHM 19.75, NBR 29.45, SUN 43.40, PAY 52.50, CTSH 79.35, RVBD 36.75, RIO 70.25, SWC 22.25, KLAC 45.80, SWKS 30.50. Stocks that retook their 50 day MAs today were PPG CRZO RRC RDSA VLO AMP BX TRN MT DE SYK SWK.
Stocks near 50 day support are LYB 41, CAR 17.50, AME 43.50, CAT 107.50, STJ 51.25, APA 125, CPX 30.50, KEG 15.60, OIS 76, WMB 31, IL 28.20, ORCL 33.50, KO 66.10, CPO 51, ADP 52, EMC 27, AA 17, MCP 62 (bad earnings after close), AGCO 54, BWA 76, TKR 51, HMC 38. Stocks that found 50 day support Tuesday were SBUX BHI HAL MRO PTEN WLT TS CMCSA BHP ARUN HOT.

Stocks near 200 day support are LVS 42, KMX 30.75, ANR 50.75, ACI 30.45, MUR 67.95, SU 38, FCX 50, SPRD 17, MON 64, POT 52, F 14.90, RCL 39, LRCX 47.60. Stocks that found 200 day support today were TCM CAM BID ADM AGU MOS IBN. EMR PAAS lost their 200 days today. BBD rettok its 200 day and TTM found resistance at ist 200 day line today. Stocks that can be shorted into 200 day resistance are PBR 36.40, RIG 70, MTL 27.40, ABX 49.10. WCRX has now had 2 solid moves off 200 day support since December last year.

Stocks that can be shorted into 50 day resistance are UA 70, WRC 58.40, JOYG 95, MTW 20.95, PH 92, APC 79.50, CVX 105.75, COP 78, XOM 84.10, HES 82, MDR 24, NBL 94, NUE 46, OPEN 100, GG 51, ROK 90, WY 23.50. Stocks that found 50 day resistance today were BRKR GOLD SWKS JPM. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are DECK 87, VFC 98, SBUX 35.70. NXPI lost its 50 day MA today.

Good luck.

The author owns FCX HK.