Gap Up Breakout, Followed by Breakout Test...

© 2019

Bull Flag Setups:  SPY, DIA, IWM, ALGN, AMD, AVGO, JBHT, MAR, MU, PCAR, TMUS, WYNN

The DJIA, closed down 206 points at 25,819, led by weakness in UNH, BA, MCD, GS and WBA. 

Five of eleven sectors were higher on Monday, led by materials XLB +0.45% and real estate XLRE +0.40%.

SPY down 1.02 at 279.40 on 106.46 million shares, 33% above average volume. Down on higher volume.

VIX up 1.06 at 14.63

Oil up .70 at 56.45

TLT up .93 at 119.59 on 9.8 million shares. 

DWDP +1.71%, INTC +1.20%, led the DJIA, 11 advancers, -15

DISH +3.85%, SWN +3.74% and PHM +3.52%, led the SPX.

FB +3.14%, MELI +2.69%, KHC +2.56%, and MYL +2.30% led the NDX.

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

Up: QQQ,

Down: SPY, DIA, IWM,

Breadth weakened on Monday, as decliners led 1,614 to 1,250 on the NYSE and led 1,881 to 1,175 on the NASDAQ

The SPY MFC green line is in the upper zone at 92 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI, XLU, XLB,

Neutral sectors:  XLK, XLY, XLV, XLP, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

33 of 100 NDX stocks closed higher on Monday.

78 NDX stocks are above their 30 DMA:  REGN, ROST, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, INTU, MCHP, ADI, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, GOOGL, IDXX, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, CMCSA, JD, MAR, SYMC, WDC, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, QCOM, VRTX, MXIM, SIRI, AMGN, AMZN, EXPE, XRAY, AMAT, HAS,  

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

AMAT, HAS,

Moving Below 30 DMA = 7

BIIB, BMRN, CERN, CTXS, LULU, NTAP, WDAY,

 

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