© 2018
The broad indexes traded in a volatile price range on Tuesday as the SPY, DIA and QQQ formed inverted hammer
in the inverse head & should price pattern that is developing on each
chart.
The DJIA, closed down 100 points at 25,286, led by weakness in BA, UNH, CVX, AAPL and CVX. This is the tenth close above 25,000 in ten days.
Five of eleven sectors were higher on Tuesday, led by financial
XLF +0.56% and industrial XLI +0.45%.
SPY down.51 at 272.05 on 98.1 million shares, 21% below average
volume. Down on lower volume.
VIX down .43 at 20.02
Oil down 3.58 at 55.28
TLT down .07 at 114.02 on 6.5 million shares.
INTC +1.59%, AXP +1.29%, led the DJIA, 11 advancers, +7.
AAP +10.57%, GE +7.76% and COG +4.33%, led the SPX.
VOD +8.02%, NVDA +5.15%, NXPI +3.12%, and WDC +2.83% led
the NDX.
Intermediate and long
term up trend intact. 3-day short term trend is down.
Up: QQQ,
Down: SPY, IWM, DIA,
Breadth strengthened
on Tuesday, as decliners led 1,508 to 1,400 on the NYSE
and led 1,513 to 1,501 on the NASDAQ
The SPY
MFC green line is turned down at 50 and is defensive.
Uptrend sectors: XLU, XLP, XLRE,
Neutral sectors:
XLV, XLY, XLF, XLB,
Down trend sectors: XLK,
XLI, XLE, XLC,
The 6-month intermediate
and long-term trends are still up. The three-month trend is sideways.
The ten-day trend is up.
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Down
61 of 100 NDX stocks closed higher on Tuesday.
46
NDX stocks are above their 30
DMA. SBUX, WBA, CDNS, TSLA, PEP,
XLNX, ROST, CMCSA, DLTR, ESRX, INTC, QRTEA, SHPG, CHTR, COST, MELI, AAL, BKNG,
FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, HOLX, MCHP, MYL, VRSK, WDAY,
ADP, CTXS, HSIC, ORLY, PAYX, SNPS, XRAY, ADI, CSX, EXPE, KLAC, MAR, NXPI, TMUS,
VOD,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 8
ADI, CSX, EXPE, KLAC, MAR, NXPI,
TMUS, VOD,
Moving Below 30 DMA = 1
FISV,
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