Tuesday, September 29, 2020

SPX, NDX Pause after 3-day Rally...

 
© 2020
 

NDX -41.50, -0.37%, opened slightly lower and traded in a tight range most of the day and closed lower.   The pause was led by weakness in AAPL, AMZN, MSFT, PYPL and TSLA. 

SPX -16.13, -0.54%, closes at 3,335. SPX opened flat and traded in a range forming a spinning top and closed lower.


MU had a negative EPS reaction after the close.


 
One of eleven sectors was higher on Monday, led by XLC, XLU and XLV.
 
Communication Services leaders: FB, TWTR, NFLX, GOOGL
Utilities leaders: ED, D, PEG, AEE
Healthcare leaders: TMO, LH, CTLT, PKI
 
SPY down -1.82 at 332.3, on 51.5 million shares, below average volume, down on lower volume.
VIX up +0.08 at 26.27
 
NKE, AMGN, CRM led the DJIA, 4 advancers, -23
PAYC, HAS, ANET OKE led the SPX, 128 advancers
AMD, MU, FB, WDC led the NDX, 31 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, IWM, DIA, SPY,
 
Breadth weakened on Tuesday as decliners led 1,901 to 1,115 on the NYSE and led 1,845 to 1,657 on the NASDAQ



The SPY MFC green line is pointed up at 20.8 and is bullish.  Price action is a bounce continuation above Friday’s high.
 
Uptrend sectors XLB, XLI, XLY, XLP, XLV, XLK, XLC,
Neutral sectors:  XLRE, XLF, XLU,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp
 
31 of 100 NDX stocks closed higher on Tuesday.
 
46 NDX stocks are above their 30 DMA:   CMCSA, CSX, AVGO, ZM, ALXN, MU, SGEN, WDAY, WDC, ALGN, CDW, CHTR, CPRT, CTAS, CTSH, FISV, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, TCOM, ADBE, ADI, ADP, AMGN, ASML, BIIB, COST, FOXA, LRCX, MXIM, PCAR, PEP, SWKS, TSLA, TXN, VRSK, XLNX,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 4
AMD, KLAC, PYPL, VRTX,
 
 
Moving Below 30 DMA = 10
ATVI, BIDU, CERN, DOCU, EBAY, INTU, ROST, TMUS, TTWO, XEL,
 
 
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Monday, September 28, 2020

Support Bounce Continuation as Broad Rally Lifts RUT, NDX, SPX, DJI on Monday...


© 2020
 
NDX +213.32, +1.91%, opened higher and closed higher for the third straight day.   The rally was led by strength in AAPL, AMZN, TSLA, MSFT, GOOGL, PYPL, NVDA and ADBE. 
 
SPX +53.14, +1.61%, closes at 3,351. SPX gapped up above last week’s high, traded and closed above that high on Monday.
 
All eleven sectors were higher on Monday, led by XLF, XLE and XLY.
 
Financial leaders: IVZ, LNC, RF, DFS
Energy leaders: DVN, FANG, FTI, MPC
Consumer Discretionary leaders: GPS, ROST, ETSY, TJX 
 
SPY up +5.46 at 334.19, on 64.5 million shares, below average volume, up on lower volume.
VIX down -0.19 at 26.19
 
BA, DOW, INTC led the DJIA, 27 advancers, +2
DVN, GCI, IVZ, AA led the SPX, 465 advancers
TCOM, ROST, INCY, SWKS led the NDX, 93 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ, SPY, DIA,
Down:
 
Breadth strengthened on Monday as advancers led 2,587 to 475 on the NYSE and led 2,693 to 814 on the NASDAQ

The SPY MFC green line is pointed up at 19 and is bullish.  Price action is a bounce continuation above Friday’s high.
 
 
Uptrend sectors XLB, XLI, XLY, XLP, XLV, XLK, XLC,
Neutral sectors:  XLRE, XLF, XLU,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp
 
93 of 100 NDX stocks closed higher on Monday.
 
52 NDX stocks are above their 30 DMA:   CMCSA, CSX, AVGO, ZM, ALXN, MU, SGEN, WDAY, WDC, BIDU, ALGN, CDW, CHTR, CPRT, CTAS, CTSH, FISV, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, TCOM, ADBE, ADI, ADP, AMGN, ASML, ATVI, BIIB, CERN, COST, DOCU, EBAY, FOXA, INTU, LRCX, MXIM, PCAR, PEP, ROST, SWKS, TMUS, TSLA, TTWO, TXN, VRSK, XEL, XLNX,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 26
ADBE, ADI, ADP, AMGN, ASML, ATVI, BIIB, CERN, COST, DOCU, EBAY, FOXA, INTU, LRCX, MXIM, PCAR, PEP, ROST, SWKS, TMUS, TSLA, TTWO, TXN, VRSK, XEL, XLNX,
 

Moving Below 30 DMA = 0
 
 
 
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Friday, September 25, 2020

SPX, NDX Rally to Close Above the High of the Low Day in MACD Divergence Setup...

 
© 2020
 
NDX +254.66, +2.34%, opened higher and rallied to close above Thursday’s high.   The rally was led by strength in AAPL, MSFT, AMZN, TSLA, GOOGL, FB, NVDA and ADBE. 

SPX +51.87, +1.60%, closes at 3,298. SPX opened lower on Friday and bounced to close above the high of the low day which was Thursday.

 
Ten of eleven sectors were higher on Friday, led by XLK, XLRE and XLU.
 
Technology leaders: LDOS, NOW, NVDA, FISV
Real Estate leaders: HST, SLG, KIM, PEAK
Utilities leaders: ES, CMS, LNT, CCI
 
SPY up +5.23 at 328.73, on 71.0 million shares, average volume, up on lower volume.
VIX down -2.13 at 26.38
 
BA, AAPL, UNH led the DJIA, 25 advancers, +8
NCLH, CCL, WRK, RCL led the SPX, 429 advancers
TCOM, ZM, MRNA, DXCM led the NDX, 95 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, IWM, SPY, DIA,
Down:
 
Breadth strengthened on Friday as advancers led 2,167 to 851 on the NYSE and led 2,547 to 921 on the NASDAQ

The SPY MFC green line is turned up at 14.4 and is bullish.  Price action is a bounce above Thursday’s bullish candle or close above the high of the low day.
 
Uptrend sectors XLB, XLI, XLY, XLP, XLV, XLK, XLC,
Neutral sectors:  XLRE, XLF, XLU,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendSideways
 
95 of 100 NDX stocks closed higher on Friday.
 
26 NDX stocks are above their 30 DMA:   CMCSA, CSX, AVGO, ZM, ALXN, MU, SGEN, WDAY, WDC, BIDU, ALGN, CDW, CHTR, CPRT, CTAS, CTSH, FISV, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, TCOM,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 16
ALGN, CDW, CHTR, CPRT, CTAS, CTSH, FISV, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, TCOM,
 
Moving Below 30 DMA = 1
COST,  
 
 
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