Dramatic Rally after Tariff Details Become Known...

© 2018

Tuesday was an actual example of institutions seeing the elimination of the uncertainty of whether tariffs would be imposed or not.  Once they were by the US and China, the market trend resumed its upward direction with a strong bounce.

DIA broke through its Jan high to a new closing high (on a dividend adjusted chart.) have bounced and watch for potential bounce continuation on Monday, while SPY and DIA are in a HBO setup. 

SPY is a bounce and breakout setup.

AXP, NKE, and MA hit new highs on Tuesday. 

Seven sectors were higher, led by discretionary XLY +1.27% and industrials XLI +0.91%.

The DJIA, closed up 184 points at 26,246, a new 6-month high, led by strength in BA, CAT, HD, MMM and NKE.  This is the forty-seventh consecutive close above 25,000 since June 15 and the fourth close above 26,000 since Feb 1.

SPY up 1.57 at 290.91, on 61.9 million shares, 5.2% above average volume. Up on slightly lower volume.

VIX down .89 at 12.79 

Oil up .68 at 69.45

TLT down 1.24 at 117.31 on 10.1 million shares. 

NKE +2.40%, BA +2.14%, led the DJIA, 23 advancers, 0.

UNM +5.65%, UNP +4.46% and NSC +4.14%, led the SPX.

NFLX +4.94%, SYMC +4.29%, MU +4.02%, and CHTR +2.92%, led the NDX.

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

Up: QQQ, DIA, SPY, IWM

Down:

Breadth strengthened on Tuesday, as advancers led 1,622 to 1,292 on the NYSE and led 1,713 to 1,220 on the NASDAQ

The SPY MFC green line is pointed up in the upper zone at 87 bullish. 

Uptrend sectors:  XLU, XLV, XLP, XLY, XLK, XLRE, XLI,

Neutral sectors: XLF, XLE, XLB,

Down trend sectors:

The 6-month intermediate and long-term trends are still up.  The three-month trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

79 of 100 NDX stocks closed higher on Tuesday.

57 NDX stocks are above their 30 DMA.  COST, AMGN, ISRG, CHKP, CA, ORLY, AAPL, QCOM, PCAR, ROST, XLNX, SBUX, CMCSA, ILMN, VRSK, SNPS, CSCO, PAYX, DISH, FISV, ADP, TTWO, ESRX, REGN, ADSK, NVDA, ADBE,  INTU, ALGN, CHTR, SIRI, SYMC, AVGO, ULTA, MAR, HAS, HSIC, WBA, ATVI, NFLX, AAL, MDLZ, MSFT, TMUS, LBTYA, SHPG, QRTEA, HOLX, ALXN, AMZN, BKNG, CSX, CTAS, CTSH, EXPE, JBHT, PYPL,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 9

ALXN, AMZN, BKNG, CSX, CTAS, CTSH, EXPE, JBHT, PYPL,

Moving Below 30 DMA = 1

WDAY,

Intermediate-term trending stocks: 

ADBE, COST, DG, AAPL, AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN, CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC, EL, CME, KORS, A, WUBA,

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