Markets Pause as Congress Votes on Tax Reform...MU Beats and Gaps Up in After-hours...

After the Close Review of Tuesday’s market action…DIA, SPY, QQQ, IWM, VIX, AAPL, AMZN, FB, GOOGL, MSFT, AKAM, DISCA, NCLH, TSCO, VIAB, ASML, CDNS, SNPS, TTWO, WDAY…MU and more breakout and bull flag setups…technical analysis insights…9:58 pm PST

© 2017

Three sectors were higher on Tuesday, led by energy XLE +0.14% and staples XLP +0.12%.

SPY down 1.03 at 267.17 on 82.2 million shares, 3% above average volume.  Down on similar volume.

VIX up .50 at 10.03

Oil up .31 to 57.66

TLT down 1.65 at 125.53…on 11.0 million shares, 42% below average volume.  Down on higher volume.

INTC +1.69%, and WMT +0.92%, led the DJIA, 12 advancers.

DRI +6.79%, ZBH +6.07%, and AA +4.38%, led the SPX.
SHPG +3.85%, JD +3.10%, CSX +2.35%, ULTA +2.16%, and HSIC +1.90%, led the NDX.

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

Up:

Down: DIA, SPY, QQQ, IWM

Breadth weakened on Tuesday, as decliners led 1,878 to 1,032 on the NYSE and led 1,903 to 1,000 on the NASDAQ.

The SPY MFC green line is in the upper zone at 92, bullish.

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

Neutral sectors: XLK, XLU

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… CBOE, VRSN, IBKR, WYNN, BA, MCD, CAT, TRU, LYV, 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, TAL,

36 of 100 NDX stocks closed higher on Tuesday.

64 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2                            

MCHP, REGN,

Moving Below 30 DMA = 5

BIDU, EXPE, LVNTA, PYPL, SYMC,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

Add Comments here