Oil Gains Seventh Time in Eight Days…Energy and Financial Sectors Lead…QQQ Drops on Continued Weakness in AMZN, FB, MSFT, GOOG, AAPL and NVDA…SPY Volume -43% on Half Day of Trading…

Have a safe and wonderful July 4^th as we celebrate our amazing freedom.  Thank you to all who have sacrificed to establish and preserve America’s freedom.

Six sectors were positive, led by energy XLE and financial XLF.

SPY up .41 at 242.21 on 39.1 million shares, 43% below average. 

VIX up .04 to 11.22.

Oil up .72 to 47.05

TLT down .66 at 124.46…on 11.0 million shares, 49% above average.

GS +2.42% and JPM +2.04% led the DJIA.

JBHT +2.01%, VIAB +1.64%, PCAR +1.45% and DISCA +1.43% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up: IWM, DIA, SPY,

Down: QQQ

Uptrend sectors:  XLV, XLF, XLI, XLRE, XLB, XLY, XLK, XLU,

Neutral sectors: XLP

Down trend sectors: XLE

Breadth strengthened as advancers led 2,068 to 812 on the NYSE and led 1,593 to 1,198 on the NASDAQ.

The SPY MFC green line is pointed down at 73, defensive.

Look for a potential bounce in: MMM, MCD, CCL, EXPE, PYPL, AABA, AMD, WYNN, JD, KWEB, SHOP, TLT, MOMO, WYN, BBRY, FB,

At support: SQ, RCL, RACE, ANET, ADBE, WDC, ATVI, AMZN, XLNX, V, WB, SPY, XLY, MAR, EA, MNST, AAPL, TSLA,

One Day Pullback:

Bounces included: DIA, IWM, BAC, WFC, SCHW, MS,

Potential Breakouts include: CSX, CC, BBY, TAL, BABA, BIDU, WMT,

Breakouts: HUN,

Break of short-term support: QQQ, NVDA, GOOGL, NFLX, ADSK, AVGO, DDD, LRCX, KLAC, AMAT, MCHP, SWKS,

Bear flag: COST,

New Highs: C, ETFC,

25 of 100 NDX stocks closed higher on Monday.

29 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

DISCA, TSCO

Moving Below 30 DMA = 9

ADBE, BMRN, CERN, CHTR, EBAY, ISRG, PCLN, TSLA, WYNN,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

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