IWM, QQQ Lead Bounce from Higher Low...

All nine sectors moved higher on Monday…XLB, XLE and XLK were the strongest sectors while XLU was the weakest sector.  Oil futures rose 1.52 to close at 47.89.

Breadth strengthened as advancers led 2,328 to 726 on the NYSE and led 1,808 to 803 on the NASDAQ.

Monday – strengthened, advancers led

Friday – weakened, decliners led

Thursday - strengthened, decliners led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

SPY up 2.02 at 206.78 

VIX down .36 at 14.68

TLT down 1.14 at 131.14…

Technical Commentary:

IWM 1.27%, QQQ +1.25%, DIA +1.01%, SPY +0.99%,

After a three-day pullback as retailers M, KSS and JWN reported weak results and lowered sales guidance which the SPX rallied 20 points on Monday as oil prices reached new six-month highs. 

The Material sector was led by FCX, NEM, MOS, CF, LYB, DD, FMC and DOW.

Energy sector leaders included WMB, FTI, DVN, MRO, NOV, APA, MUR, APC, HAL, BHI, EOG and NBL.

Technical analysis based trades should be closed before earnings.

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:  

Bull Flag Setups include:  AMZN, FB, MDLZ, LUK, TSCO, AXP, SCI, BG, ZION, PCAR, MUR, FISV, FIS, JEC, NWL, NOC, LMT, GD, MCD, MMM, XOM, TSN, CMG, CL, MMM, KHC,

Bull Flag Bounces include:  JNJ, ULTA, STI, MNST, MDT,

Horizontal Breakout Setups include: SVXY, FB, FTNT, MRO, HAL, AFL, CL, ADBE, AGN, WRK, EGN, AEM, CTXS, GLPI, CMCSA, WFM, TXN,

Horizontal Breakout include: BSX, FFIV, NTES, INCY, NEM, REGN, ATVI, NVDA, CA, EA,

______________________

                                                                                                                                    

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 SPY MFC green line turned up at 45, short-term bullish.

86 of 100 NDX stocks closed higher on Monday.

37 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 12

ADSK, BMRN, ESRX, INCY, INTU, LBTYA, LLTC, NXPI, QCOM, TXN, VOD, YHOO

Moving Below 30 DMA = 1

CHTR

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral