All nine sectors moved lower on Tuesday …XLI,
XLB and XLP
were the strongest sectors while XLU was the weakest sector. Oil futures rose 1.10 to close at 36.56.
Breadth weakened as decliners led advancers 2.33 to 1
on the NYSE and 2.33 to 1 on the NASDAQ.
Tuesday – weakened, decliners led
Monday – weakened, decliners led
Friday – strengthened, advancers led on NASDAQ
Thursday - weakened, advancers led on NYSE
Wednesday – weakened, advancers led
SPY down 2.06
at 204.19 on 99.6 million shares, 1% below average volume
VIX up 1.32 at 15.42…
TLT up 1.43 at 132.19…on
6.4 million shares, 11% below average volume
Technical Commentary:
DIA -0.73%, QQQ -0.96%, SPY
-1.00%, IWM -1.13%.
Today SPY, DIA, QQQ and IWM pulled
back for a second day forming a potential bull flag. Check your watch list for bull flag setups.
TSLA +8.48, +3.43% was
the top NDX gainer. Healthcare
stocks VRTX, GILD, CELG, ALXN and BIIB
were among NDX leaders on
Tuesday.
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: SPY, DIA,
QQQ, IWM, XLK, XLP, XLU, XLV, XLY, SVXY, AAPL, ADI, AMZN, AVGO, CMCSA, CTSH,
EA, FB, MAT, MSFT, NVDA, SBUX, TXN, YHOO, BABA, CAT, BA,
Horizontal Breakouts include: GILD
______________________
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 93.
13 of 100
NDX stocks closed higher on Tuesday.
80
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
CELG, VRTX
Moving Below 30 DMA = 5
AKAM, MYL, TRIP, VIAB,
VOD
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Down
3 comments:
Dave,
Hope all is well with you and your family.
I was just wondering if there was an update on helping blog followers in finding leading stocks?
Thanks,
Gary
Gray, one great way to do that if you use Prophet Charts is to go to Studies/Apply Studies and double click on the Relative Strength indicator. Then as you go through any stock in any watch list, you can see if it is above that relative strength line in the study. That means that it is stronger than the general market SPX. A good way to test this is to bring up the SPX (not spy) and see that it is exactly on that line. So again any stocks that are above that line, and recently trending up are the leading stocks that he is referring to in the blog. Hope that helps.
Gary,
Look at recent blog post listing Short-term Movers and YTD showing SPX, NDX and DJI Leaders and Losers. Most recent is Friday, April 1. These are leading stocks up for bullish and down for bearish.
Chart Signals
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