DJIA / DIA New Record High...MSFT, AMZN, FB, NVDA, AAPL Lead NDX Lower as Tech Off Rotation Continues Day 4...

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After the Close Review of Monday’s volatile market action…/ES, SPY, DIA, DIS, HD HD BA, JPM, DWDP, CVX, GS, QQQ, MSFT, AMZN, FB, NVDA, AAPL, ADBE, GOOGL, AVGO, PYPL, XLF, SCHW, STI, BAC, ZION, C, and more great setups technical analysis insights…10:42 pm PST

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The SPX gapped up to a new intra-day high and after 15 minutes began to move lower and by the end of the day, the SPX had filled the opening gap.  The DJIA and DIA closed at a new all-time high on the strength of DIS and HD.

Five sectors were higher on Monday, led by financial XLF +1.52% and discretionary XLY +1.16%.

SPY down .32 at 264.14 on 94.0 million shares, 32% above average volume.  Down on lower volume.

VIX up .25 at 11.68

Oil down .85 to 57.44

TLT up .06 to at 126.61…on 9.6 million shares, 28% above average volume.  Up on lower volume.

DIS +4.72%, and HD +2.48%, led the DJIA, 17 advancers.

M +6.66%, GPS +6.60%, and FL +5.66%, led the SPX.

DISCA +7.14%, ORLY +6.82%, ESRX +5.82%, FAST +5.17%, and CMCSA +4.92%, led the NDX.

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

Up: DIA,

Down: SPY, IWM, QQQ

Breadth strengthened on Monday, as advancers led 1,481 to 1,443 on the NYSE and decliners led 1,632 to 1,323 on the NASDAQ.

The SPY MFC green line in the upper zone at 89 bullish.

Uptrend sectors:  XLY, XLI, XLF, XLB, XLV, XLP, XLU, XLE, XLRE,

Neutral sectors: XLK,

Down trend sectors:

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past week and it is appropriate to wait for the uptrend to resume before considering entry…BA, MCD, CAT, TRU, CBOE, LYV, WYNN, FCAU, CCL, RCL, SQ, CC, EDU, AA, ADBE, PYPL, ALGN, V, MU, FB, A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, WB, LRCX, NVDA, RACE, RACE, TAL,

47 of 100 NDX stocks closed higher on Monday.

54 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

NCLH, PCAR, 

Moving Below 30 DMA = 8

ALGN, AVGO, CHTR, GILD, INTC, ISRG, MSFT, PYPL,

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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