After the Close Review of Tuesday’s market action…SPY, $INDU, BA, GS, HD, AAPL, CAT, UNH, $VIX,
XLY, XLF, XLV, XLI, XLK, XLE, XLB, XLP, XLRE, XLU, MU, NDA, MSFT, X, SCHW,
ETFC, IBKR, C, JPM, BAC and other great setups …9:05 pm PST
Stocks moved higher on heavy volume with SPY volume the biggest buy volume day
in more than 5 years. On Aug 26, 2015 SPY volume was 339 million rebounding
from a capitulation selloff two before on Monday, August 24, 2015.
The DJIA jumped 567 points to 24,912, led by strength in BA, GS, HD, AAPL, CAT and UNH.
Eight sectors were higher on Tuesday, led by materials XLB +3.27% and technology XLK +2.87%.
SPY up 5.20 at 269.13 on 355.0 million shares, 229% above average volume. Up
on higher volume.
VIX down 7.34 at 29.98
Oil up .49 to 63.92
TLT down .75 at 119.96 on
10.9 million shares, 6% above average volume. Down on lower volume.
DWDP +5.97%, and HD +4.33%, led
the DJIA, 26 advancers.
TRIP +14.65%, FOSL
+11.85%, and
NWL +10.07%, led the SPX.
MU +11.37%, SWKS
+10.44%, NVDA +5.56%,
AVGO +5.38%, and LRCX +4.69%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up:
QQQ, DIA, SPY, IWM
Down:
Breadth strengthened
on Tuesday, as advancers led 2,147
to 851 on the NYSE and led 1,889 to
1,077 on
the NASDAQ.
The SPY MFC green
line is below
the upper zone and is pointed down at 47, short-term bearish. If
price bounces above the high of today, go with price as this oscillator lags.
Uptrend
sectors: XLY,
Neutral
sectors: XLF, XLV, XLI, XLK, XLE, XLB,
Down
trend sectors: XLP, XLRE, XLU,
Intermediate-term trending stocks: Many of these stocks have had significant
pull backs over the past month and it is appropriate to wait for the uptrend
to resume before considering entry… CBOE, IBKR, ADBE, ANET, TAL, EA, EBAY, TTWO,
SHOP, LYV, SQ, RACE, ALGN, ATVI, FB,
FCAU, WB, RNG, AABA, BABA, CCL, RCL, BA, CAT, MAR, V, TRU, WYN, WYNN, PYPL,
NVDA, ISRG, VRSN, AA, WUBA, EDU, CC, MU, A,
85 of 100 NDX stocks closed
higher on Tuesday.
27
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 15
ADSK, AMSL, ATVI, CTRP,
EXPE, FB, FOXA, GILD, HAS, MSFT, MU, NVDA, SWKS, VRTX, WDC
Moving Below 30 DMA = 2
LBTYA, STX,
The
intermediate and long-term trends are still up. The two-month trend is sideways. The six-day trend is down.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market Trend: Down
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3 comments:
The roller coaster has been fun and so exciting, thank you Dave.
We have been missing your post.... Always enjoy your perspective on the market ...
It should be interesting to see if we can take advantage of this market condition
Stay focused and you will see the opportunities...Dave
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