Short-term Rally Day 8...QQQ Moves Breaks Above Nov 20 Low...

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The broad market opened flat and evolved into another strong up trend day.  IWM, QQQ, SPY and DIA all made a new short-term high after bouncing on Friday from a higher low on Thursday.  QQQ broke through its Nov 20 low, old support, new resistance today and is back into the low end of a sideways channel.

The DJIA, closed up 98 points at 23,531, led by strength in HD, V, MCD, CVX and WMT.  

Nine of eleven sectors were higher on Monday, led by discretionary XLY +2.26% and energy XLE +1.49%.

SPY up 1.99 at 254.38 on 103.1 million shares, 26% below average volume. Up on lower volume.

VIX up .02 at 21.40 

Oil up .46 at 48.77

TLT down .36 at 121.75 on 8.4 million shares. 

HD +1.97%, V +1.80%, led the DJIA, 22 advancers, -8

FOSL +8.06%, NKTR +7.83% and MAT +7.68%, led the SPX.

AMD +8.26%, ULTA +6.26%, NFLX +5.97%, and DLTR +5.46% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth weakened on Monday, as advancers led 2,371 to 617 on the NYSE and led 2,310 to 751 on the NASDAQ

The SPY MFC green line is pointed up at 36 and is short-term bullish.

Uptrend sectors:  

Neutral sectors:  XLU, XLRE, XLB, XLY, XLC,

Down trend sectors: XLV, XLP, XLI, XLK, XLF, XLE,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

75 of 100 NDX stocks closed higher on Monday.

38 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMGN, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, GOOGL, INTC, JD, PCAR, PYPL, SIRI, TMUS, VRTX, WYNN, XLNX, AMAT, AMD, ATVI, CTAS, KLAC, MELI, NTES, TXN, ULTA, VRSN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 10

AMAT, AMD, ATVI, CTAS, KLAC, MELI, NTES, TXN, ULTA, VRSN,

Moving Below 30 DMA = 1

QCOM

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