Monday, April 3, 2017

DIA, QQQ, SPY Rally From Light Volume Selloff, Close Slightly Lower on Monday...TSLA New All-time Closing High on Q1 Record Deliveries...


Setups to Watch for Tuesday

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Technical Commentary

TSLA 298.52, +7.27% hit a new all-time closing high on news of Q1 autos delivered over 25,000 and increase of 69% over Q1 2016.

Broad indexes recovered from a selloff Monday morning on lighter volume.  The intermediate and long-term trends are still up.


DIA -0.04%, QQQ -0.06%, SPY -0.17%, IWM -1.05%,

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Up Trend: XLY, XLK, XLU, XLV
Sideways: XLB, XLF, XLRE, XLI, XLP,
Down Trend: XLE

Breadth weakened as decliners led 1,322 to 1,322 on the NYSE and led 2,081 to 814 on the NASDAQ.

Monday – weakened, decliners led, +2 sectors
Friday –weakened, advancers led, +3
Thursday – weakened slightly, advancers led, +7
Wednesday – weakened slightly, advancers led, +7
Tuesday – strengthened, advancers led, +9


SPY down .41 at 235.33 on 85.5 million shares, 4% above average volume,
VIX up .01 at 12.38
TLT up .96 at 121.67…on 12.9 million shares 62% above average volume

Oil futures were down .60 to close at 50.25 on Monday.


The SPY MFC green line is pointed up at 53, bullish with the SPY remaining above short-term support/resistance at 234.72.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up



SPX and NDX Highlights

SPX down 4 points at 2,359.

SPX gainers NEM, CI, GGP, HUM, CMG, HOG, EXR, WYNN, NSC, NLSN, DOV, KIM, SPG, FMC, UAL, UNH, AET, VZ, WMB, BAX, NUE, BCR, DAL, CFG, LH, SCG, DVN, MAC, PLD, ANTM, MON, TMO, PRGO, A, AMD

                  (click image to enlarge)


QQQ closes down .08 at 132.30.
   
NDX percentage gainers: TSLA, INCY, JD, BIDU, HOLX, GOOG, KLAC, CTRP, NXPI, EBAY and AMZN


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32 of 100 NDX stocks closed higher on Monday.

57 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
BIDU, GOOG, INCY

Moving Below 30 DMA = 7
ADSK, CTSH, MNST, NCLH, PYPL, QCOM, TRIP


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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: WDC, ATVI, HUN, PCLN, BABA SPY, MAR, XLU, AMAT, CCL, RCL, FISV, MXIM, HD, JNJ, CLX, UNH, MNST, GDXJ, TXN, CERN,

Bull Flag Bounces include: WYNN, TLT, GDXJ, EBAY, (4)

One Day Pullback: VIAB, ULTA,

MACD Histogram Bullish Divergence: IBM, PANW,

Horizontal Breakout Setups include: TLT, ATVI, QQQ, AMD, NFLX, ADBE, LVS, MCD, MSFT, HOLX, LRCX, CBOE, MOMO, NRG, CTRP, MU, DIA, XLE, NVDA, FLEX, SOXL, INTC, SYMC, X, NUE, STX, MMM, BA, EA, AVGO, AAL, LUV, CSX, YHOO, CMCSA, DAL, HAS, AA, GS, CTSH, SWKS,

Horizontal Breakouts include: WIX, TSLA, IYR, UAL, KLAC, DIS, LNG, RF, ZION, STI, NXPI, CHK, SWN,

New Highs include: AMZN, FB, AAPL, QQQ, XLY, CC,

At Support Setups include: ROST, PYPL, CF, CTSH, ADI, SWKS, ALK, EXPE, NTES,

Support Bounce: V, AMBA,


Break of Support: ADP, PAYX,


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