Support Holds With Market in Flag Trend Continuation Pattern...

Five of nine sectors moved higher on Monday …XLP, XLY and XLB were the strongest sectors while XLE was the weakest sector.  Oil futures fell .29 to close at 39.30. 

                         

Breadth mixed as advancers led decliners 1.33 to 1 on the NYSE and decliners led 1.29 to 1 on the NASDAQ.

Monday – mixed, advancers led on NYSE

Friday – weakened, advancers led

Thursday - strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – weakened, decliners led

SPY up .12 at 203.24 on 62.4 million shares, 42% below average volume

VIX up .50 at 15.24…

TNX down .30 at 18.70…

TLT down 1.50 at 128.04…on 5.0 million shares, 39% below average volume

XLF up .07 at 22.38…on 29.3 million shares, 52% below average volume

AAPL down .48 at 105.19 on 19.4 million shares, 44% below average volume

FB up .64 at 113.69 on 21.3 million shares, 21% below average volume

Technical Commentary:

IWM +0.12%, DIA +0.10%, SPY +0.06%, QQQ -0.14%.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  SPY, DIA, IWM, QQQ, XLP, XLY, XLB, XLF, XLI, XLK, XLE, FCX, ADBE, ADI, ADP, AMAT, AVGO, BIDU, CTRP, CTXS, FAST, FISV, NCLH, NXPI, TXN, AAPL, AXP, BA, CSCO, CVX, IBM, INTC, JPM, MCD, NKE, WMT, XOM, AKS, RCL

Bull Flag Bounces include: MAR, NFLX, VIAB, MNST, GILD, TSLA, YHOO, SWKS, PCAR, WBA, LRCX, BABA, LRCX, SVXY, CAT, DD, HD, KO, MMM, TRV, NUE

Horizontal Breakout Setups include: AMZN,

Horizontal Breakouts include: 

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YTD:

SPX Leaders:  FCX, NEM, URBN, KORS, WYNN, PVH, RRC, SE, M, EXC (282, +5 > 10p 102)

SPX Losers: WMB, ESV, MPC, RCL, RIG, ADS, MS, CF, MNK, AN

NDX Leaders: MAT, FAST, PCAR, FISV, FB, CHTR, AMAT, ORLY, CA, PYPL (44, -2)

NDX Losers:  ENDP, VRTX, INCY, REGN, ALXN, MU, TRIP, BMRN, NTES, ESRX

DJI Leaders:  VZ, WMT, CAT, MMM, UNH, XOM, IBM, KO, JNJ, CVX (17, 0)

DJI Losers: GS, AXP, JPM, BA, PFE, INTC, DIS, V, DD, MSFT

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 at 94. 

50 of 100 NDX stocks closed higher and one was unchanged on Monday.

76 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

COST, DLTR

Moving Below 30 DMA = 5

BMRN, DISH, ILMN, JD, MAT

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down