Wednesday, June 28, 2017

NDX Recovers 81 of Tuesday’s 105 Point Drop…Led by 28 points from AAPL, MSFT, GOOG, AMZN and FB…IWM Leads Stock Rally after News Cycle Selloff Exhausts…




Check out these hammer flagsADBE, ANET, ATVI, WYNN, AMZN, JD, XLNX, KWEB, SHOP, TLT,

SPY bounces off of channel support.
DIA bounces in its bull flag pattern.
QQQ makes a MACD bullish divergence bounce at support.
IWM bounces in its bull flag, now a horizontal resistance breakout setup.

Nine sectors were positive, led by financial XLF and technology XLK.

SPY up 2.16 at 2443.49 on 70.0 million shares, 2% below average. 
VIX down 1.03 to 10.03.
Oil up 1.16 to 44.88
TLT down .42 at 126.47…on 7.3 million shares, at average.

CAT +2.42% and JPM +2.01% led the DJIA.
SPLS +8.41% TRIP +4.52% and AA +4.17% led the SPX.
JBHT +4.20% PCAR +4.08% LBTYA +3.79% and NVDA +3.53% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up: IWM, QQQ, SPY, DIA
Down:

Uptrend sectorsXLV, XLF, XLI, XLU, XLRE, XLB, XLY, XLP, XLK,

Breadth strengthened as advancers led 2,246 to 708 on the NYSE and led 2,089 to 736 on the NASDAQ.

The SPY MFC green line is pointed down in upper zone at 81.


Look for a potential bounce in: ADBE, ANET, ATVI, WYNN, AMZN, JD, XLNX, KWEB, SHOP, TLT, MOMO, WYN, MMM, MCD, RCL, EXPE, HUN, AMD, DDD, BBRY, FB, RACE,

At support: MAR, WB, EA, NVDA, NFLX, MNST, GOOGL, ADSK, AVGO, AAPL, LRCX, KLAC, AMAT, MCHP, TSLA, SWKS, BIDU

One Day Pullback:

Bounces included: IWM, DIA, SPY, QQQ, XLY, C, V, PYPL, WDC, AABA, SQ, CC,

Potential Breakouts include: WMT, BBY, TAL, BABA,

Breakouts: CSX,

Break of short-term support:

Bear flag: COST,

New Highs:


94 of 100 NDX stocks closed higher on Wednesday.

57 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 19
AMZN, ATVI, BMRN, CSCO, CHKP, CHTR, CTAS, CTSH, DISH, FB, FISV, HSIC, ILMN, LVNTA, MYL, NVDA, PCAR, VOD, XLNX

Moving Below 30 DMA = 0


The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Neutral


Add Comments here

Tuesday, June 27, 2017

NDX Down -105 Led by -39 points from AAPL, MSFT, GOOG, AMZN and FB…Stocks Selloff after Yellen Speaks…SPY -1.4% Last Six Days, Prepare to be Defensive…


$2.7 billion fine sends GOOGL and NDX lower...QQQ back at support after GOOGL fine and Yellen Comments…
SPY is forming a similar low and is shifting from flag to channel.
DIA is in a bull flag pattern.
IWM forming bull flag setup.

One sector was positive, led by financial XLF and energy XLE.

SPY down 1.96 at 241.33 on 82.2 million shares, 15% above average.  As of today’s close SPY is down -1.4% from its all-time high on June 19.
VIX up 1.16 to 11.06.
Oil up .23 to 43.72
TLT down 1.37 at 126.89…on 8.3 million shares, 15% above average.

JPM +0.93% and WMT +0.68% lead the DJIA.
AMD -4.83%, NFLX -4.11% and NVDA -3.66% largest percentage losers in the SPX.
STX -6.79%, JD -5.55%, MELI -4.50% and BMRN -4.11% largest percentage losers in the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up:
Down: DIA, SPY, IWM, QQQ,

Uptrend sectorsXLV, XLF, XLI, XLU, XLRE, XLB, XLY, XLP, XLK,

Breadth weakened as decliners led 1,910 to 1,013 on the NYSE and led 1,862 to 959 on the NASDAQ.

The SPY MFC green line is pointed down in upper zone at 80, prepare to become defensive.


Look for a potential bounce in: DIA, C, MMM, MCD, V, RCL, EXPE, ADBE, WDC, HUN, ANET, AMD, AABA, SHOP, DDD, BBRY, FB, ATVI, AMZN, PYPL, SQ, RACE, MOMO, KWEB, XLNX,

At support: SPY, QQQ, XLY, MAR, WB, EA, CC, NVDA, NFLX, MNST, GOOGL, ADSK, AVGO, AAPL,

One Day Pullback: IWM, JD, WYN, TLT,

Bounces included: WMT, BBY,

Potential Breakouts include: TAL, CSX, WYNN, BABA,

Breakouts:

Break of short-term support: LRCX, KLAC, AMAT, MCHP, TSLA, SWKS,

Bear flag: COST, BIDU,

New Highs:


7 of 100 NDX stocks closed higher on Tuesday.

38 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0


Moving Below 30 DMA = 22
AMZN, ATVI, AVGO, BMRN, CSCO, CHKP, CTAS, CTSH, EA, FB, FISV, HSIC, IDXX, ILMN, INTU, MSFT, MYL, NVDA, PAYX, STX, VOD, XLNX


The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down


Add Comments here