Tuesday, August 22, 2017


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After the close Review of Tuesday’s action…SPY, QQQ, IWM, DIA, TLT, VIX, AAPL, MSFT, AMZN, GOOG, GOOGL, FB, CSCO, CMCSA, AVGO, NVDA, ATVI, SQ, TTWO, BABA CC, AABA, ALGN, SHOP, PYPL, TRU, ADBE, A, ANET, EA, EDU, EPE, BA, TAL, ALL, FB, LYV, RCL, V, MCD, PGR, CCL, MOMO, BZUN, 
© 2017



SPY, QQQ MACD bullish divergence bounce.
DIA bounce in bull flag pattern.

IWM channel bounce at short-term support.

Nine sectors were higher, led by technology XLK +1.49% and materials XLB +1.30%.

SPY up 2.54 at 245.44 on 63.1 million shares, average.  Up on similar volume.
VIX down 1.84 at 11.35.
Oil up .06 to 47.63
TLT down .49 at 126.44…on 6.1 million shares, 9% below avg.  Down on lower volume. 

CAT +1.95%, and CSCO +1.92%, led the DJIA, 26 advancers.
M +4.56%, FL +4.27% and GWW +3.79% led the SPX.
VRTX +4.34%, ATVI +4.01%, FAST +3.58%, and ALXN +3.57%, led the NDX.

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

Up: QQQ, IWM, SPY, DIA
Down:

Breadth strengthened on Tuesday as advancers led 2,103 to 795 on the NYSE and led 2,034 to 790 on the NASDAQ.

The SPY MFC green line is at 43, short-term bearish.

Uptrend sectorsXLU,
Neutral sectors: XLK, XLP, XLF, XLY, XLRE, XLV, XLB, XLI
Down trend sectors: XLE

Intermediate-term trending stocks:  PYPL, ADBE, NVDA, FB, ATVI, EA, BA, MCD, V, CCL, RCL, ALGN, ANET, SQ, MOMO, CC, BZUN, AABA, TTWO, PGR, TRU, LYV, ALL, TAL, BABA, A, EDU, SHOP, EXPE,


94 of 100 NDX stocks closed higher on Tuesday.

41 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 11
AVGO, BIIB, CHKP, CTSH, GILD, MAR, MSFT, MU, NCLH, SIRI, VRTX,

Moving Below 30 DMA = 0


The intermediate and long-term trends are still up.

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



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8 comments:

Unknown said...

Dave the divergence, weak hands to strong hands transfers, over the past 3 days has been nothing short of excellent, feeling grateful to be able to ride along and get your insights and experience. Just hoping my bandwidth has sufficient storage space, aloha

Don said...

Dave:

Love the many strategies you demonstrate. It really helps to become a better trader with such excellent teaching. Thanks for you great insight.

TLS said...

Excellent commentary again. Thank you!

Ty

Mavens of the Mkt said...

We are truly grateful for your excellent commentaries.

Unknown said...

Dave,

Thank you for the excellent review of IT trade setups. Also the refresher on usage of the MFGL.....So very helpful, as always!

Fayburn

Livin11 said...

Great viideo...appreciate all you do! Thank you!

Jerel said...

Coach Dave, I truly do must your Monday and Thursday training. Thank you for this blog and allowing us the benefit of your market training and insights!!!

Adrian said...

Excellent Comments Dave!!!! Thank you for everything you do for us!