QQQ Rises as SPY Pauses on Monday...GOOGL Gaps Up in Afterhours Trading...

Six of nine sectors moved higher on Monday…XLU, XLY and XLB were the strongest sectors while XLE was the weakest sector.  Oil fell 2.08 cents to close at 31.62.

                         

Breadth weakened as decliners led advancers 1.04 to 1 on the NYSE and 1.03 to 1 on the NASDAQ.

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday- strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

SPY down .07 at 193.65 on 136.0 million shares, 10% below average volume

VIX down .22 at 19.98…

TNX down .35 at 19.66…

TLT down .63 at 126.67…on 9.9 million shares, 10% above average volume

XLF down .09 at 21.63…on 68.6 million shares, 20% above average volume

AAPL down .91 at 96.43 on 40.9 million shares, 26% above average volume

FB up 2.88 at 115.09 on 46.1 million shares, 40% above average volume

Technical Commentary:

QQQ +0.27%, DIA -0.02%, SPY -0.04%, IWM -0.46%.

Stock indices opened lower and tested Friday’s S1 before closing slightly lower.   QQQ finished higher on Tuesday due to strength in FB, GOOGL, GILD, QCOM, AVGO and PCLN.

GOOGL +32.26, +4.19%, gapped up in after-hours on a positive earnings reaction.

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 36. 

60 of 100 NDX stocks closed higher on Friday.

34 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

AMAT, AVGO, CHKP, CHTR, HSIC

Moving Below 30 DMA = 2

MAT, MDLZ

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up