The stock market is offering plenty of earnings reports and news this week. Unfortunately, for the most part, that means indecision and light volume until the dust settles.
FOMC announcement this week and uncertain risk/reward. The market is near 2015 highs which makes this a tough spot to expect solid reward potential on a new SPY long.
Sector rotation and sector specific ideas are the best game plans in the current tape. Use the S&P 500 heat map below to get ideas.
Stock Market Today: Map of the S&P 500
(click the map for a full view)
SPY volume was non-existent yesterday. No bias/analysis to speak of due to the lack of volume other than you can read it as a light volume pause after a momentum move higher last week. That is a stretch since the “momentum” was only one day. Inside day looking for it to hold the $205 support on a lower open.
(click the chart for a full view)
- Retail stocks still very solid down trends.
- AAPL and TWTR earnings today.
- No shortage of inside days today. (might be the best scenario)
Charts in Focus
AAPL Apple Inc.
AAPL breakout above $116 is the area we were looking for it to hold with 120 as the target. The stocks traded below the breakout although it was on news about one of its suppliers. Tough trade here, longer term chart shows a head and shoulders top.
(click the chart for a full view)
AAPL Earnings Report 10-27-15 | Stocks to Trade
Earnings in play today > 1M avg shares: AAPL, BABA, TWTR, MRK, GILD, CMCSA, BMY, GRUB, TMUS, HCA, DD, SAVE, APC, PCAR, TXT, UPS, IR, ESRX, AKAM, NVS, CMI, FISV, BTU
Relative strength to yesterday’s SPY negative change from the open: MSFT, ABBV, HZNP, NFLX, AAL, MYL, YELP, ENDP, GRUB, M, UAL, FEYE, CELG, AGN, JAH, UA, KSS, MNK, YUM, BWA, RAX, MDVN
> 20sma, positive week and closed 2% higher from the open: MSFT, AAL, YELP, GRUB, UAL, CELG, YUM, CELG, YUM, BWA, WTW, MDVN
<20sma, negative last 5 days and closed 2% lower from the open: skx, wll, wmb, ete, rrc, duk, wdc, dvn, fti, bhi, clr, mbly, paa, atw,
Bullish Ideas ATR/Volume/Price: SNDK, KLAC, GOOGL, AMZN, DLPH, AAL, MCD, AMGN, CTXS, DIS, ADI, TRV, ACN, MMM, BA, FB, V, HON, DHR, RCL, HD, ADBE, NKE
Bearish Ideas ATR/Volume/Price: skx, abbv, wmb, rrc, tgt, endp, hca, feye, stx, vmw, wdc, cyh, thc, aet, lulu, ibm, tsla, lng, hog, bhi, scty,
Weak Stock Weak Close: skx, rrc, ete, wmb, stx, wdc, oke, wfm,
Strong Stock Weak Close: IDTI, ADI,
Weak Stock Strong Close: abbv, endp, feye, jah, kss, m, myl, sbh
Strong Stock Strong Close: MSFT, CIEN, AAL, HRB
20 day Breakdown: bkd, dyn, rrc, wfm
20 Day Breakout: CIEN, CTRP, GRUB, MSFT, YNDX
2x Normal Volume: KMI, VRX, CTRP, BRCM, SKX, HXNP, BKD, TSN, YELP, GRUB, MJN, KLAC,
Watch List Longs: GE, MCD, AMGN, DIS, TRV, PM, MO, HIN, SBUX, COST, KO, TXN, MSFT, JNPR, INTC, LLTC, CSCO, INTU, HD, ADBE
Watch List Short: wmt, tgt, kss, bby, m
Inside days: intc, ebay, pg, mrk, cog, txn, tgt, pot, cat, dis, sndk, feye, axp, teva, met, bk, cvs, hd, vlo, fl, kors, amzn, lvs, stt, dg, lulu, apa, mur, nke, symc, aig, hog, ba, cof, bhi, ip, crm, dltr, mon, dhr, googl, gis, tjx, wynn, mmm, hon, rost, pnc, anf, pru, urbn, tso
Apple Earnings Will Tell Us Whether to Expect Happy Holidays or a Long Winter
Apple will unwrap its outlook for the holiday shopping season on Tuesday, and analysts expect growth—just nothing on par with last year’s bonanza.
The holiday quarter is projected to bring Apple sales of $77 billion and profit of $18.1 billion, or $3.22 a share, according to data compiled by Bloomberg. That would work out to sales growth of 3.4 percent, which is a far cry from the 30 percent Apple put up last holiday season.
During the critical October to December period, Apple generates more sales and profit than any other time of the year.
The upcoming forecast will be closely watched because Apple is facing questions about whether the latest iPhones can match the record-setting pace of last year’s models, which included the long-overdue addition of bigger screens. Investors’ doubts about growth have sent the stock down 12 percent since the last earnings report.
Continue reading on bloomberg.com