Markets Monday fell, but managed to finish off the lows for the day. Back during the healthy rally many months ago, Mondays were generally a very strong day. Not so anymore. The Nasdaq did maintain support at its 50 day MA, but the S&P 500 was not as fortunate. Volume was light compared to Fridays levels. Some bright spots did emerge from the soft day today. AAPL recorded an all time high today in strong trade. BHI broke out from a double bottom with handle base at 75.70. Gold and silver stocks rose as bullion eclipsed the $1600 mark for the first time. Some retail stocks behaved fairly well. For the most part it obviously was a weak day. New highs versus new lows was negative. The S&P 500 slashing through 50 day support and the weak performance of economic bellwether FDX, along with all the political and fiscal concerns here and abroad reared their ugly heads. After the close IBM WYNN were trading higher on solid earnings reports. Tomorrow will bring more heavyweights earnings from the likes of AAPL ALTR CMG CSX VMW RVBD FTNT after the bell and KO FRX HOG BTU UNH before the bell.
Stocks offering specific buy points include: Double bottom with handles are MTZ 21.41, BIDU 148.54, RAX 46.27, ETN 53.25, EXXI 35.46, FTI 45.99, OXY 107.99, EBAY 34.17, FMC 89.92, CAT 112.75, CVX 107.02, FTI 45.99, FCX 56.22. Cup with handles are TXRH 18.50, BKE 46.76, ANF 75.03, CRL 42.30, VPHM 20.44, RVBD 41.93, DD 56.30, JOYG 99.41, SLB 90.99, WTI 27.81. Cup with high handles are CAKE 34.17, UA 81.55, UTX 91.93, KMT 45.36, NOV 82.00. 3 week tight patterns are MCD 86.56, ICON 25.38, EL 107.20, CAH 47.16, CI 52.60, SQM 67.22. Double bottoms are SINA 128.27, APC 80.68. Cup bases are ACOM 45.89, POT 61.90.
Stocks near 50 day support are DRI 25, DKS 38.50, SCSS 16.75, CL 86.55, HLF 55.10, CAH 45, CI 50, XRAY 38.15, HS 44, UNH 50.10, CERN 60.10, CE 50.60, PX 104.25, SIAL 70, ACN 57.85, VCLK 17.10, ATI 63.60, WOR 21, JCI 39, CRZO 37.50, NBR 25.60, PTEN 30, BTU 58.10, RDSA 70.05, TCK 49. Stocks that found 50 day support today were EAT FAST MW ORLY KO GR FRX HUM WCG ERTS APD AXP CNI NSC UPS KSU CBS MMM AME DOV BWA CMI APA.
Stocks near 200 day support are TITN 25, CELG 51.80, ILMN 67, MYL 22.20, BMC 49.25, CTXS 71.75, APD 90, WDR 36.15, CMCSA 23.20, CHRW 76, EMC 25.10, NTGR 35.10, CCK 36, HON 55.10, IP 28, ROP 79.50, TYC 44.75, A 43.50, ABB 23.60, AREX 24.10, PXD 90, ALTR 40.25, SMTC 24.35, XLNX 31.55, WY 21, BHP 92. Stocks that found 200 day support today were WRC SYK MSFT LYB UPS JBL AGU ROK SUN. Stocks that can be shorted at 200 day resistance are INTU 50.20, 31.80, VRSN 34.05, DOW 35.25, KKR 15.50, PAY 43.75, DIS 39.75, TEL 35, MOLX 24.70, CBE 60, TRW 54, KLAC 41.95, AA 15.75. Stocks that met 200 day resistance today were DISCA SAP FFIV PH CAM SU FCS. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are CAR 15.20, STJ 45.20, LYB 36, APKT 62.25, ARUN 26.25, JBL 18.85, BG 67.75, PLL 51.70. Stocks that lost their 200 day MAs today were KMX BID LVS ORCL KKR VMED FDX TEL TTMI PKI TRW. Stocks that can be bought as they reclaim their 40 week MAs and their buy stop spots are CAM 51.25, DVN 81.25, BTU 62, CRUS 17.60, ABX 49.50.
Stocks that can be shorted as they lose their 10 week MAs and their sell stop spots are TPX 63.50, AGN 81.50, BAX 59.05, HS 43.60, HUM 79.10, WCG 50, PPO 65.10, TRN 32.60, PLCM 29.70, TDC 55.90, EMR 53.75, RIO 68.50. Stocks that pierced their 50 day MAs today were PETM YUM HNZ IFF BDX CELG MYL NUAN ALB TWC FDX VIAB BLL ITW AVGO. Stocks that can be shorted at 50 day resistance are COST 80.50, AET 44, ILMN 73.75, ABV 32, TIBX 28, EMN 101.50, QCOM 56.10, UNP 102, VIAB 50, NTAP 52, DHR 53.25, ADP 53.25, X 44, RIG 64.75, ARMH 28.15. Stocks that met 50 day resistance today were FL ROP TMO MOS RS DVN.
Good luck.
The author owns DE FCX WNR.
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