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SPY, IWM, QQQ, DIA Rally Week 10…
(click
image to enlarge)
Bull Flag Bounce Trigger on
Friday: SPY, QQQ, IWM, SMH, ALGN, ASML,
MU, MXIM, NXPI, PEP, SBUX, TXN, WDC,
Bull Flag Setups: DIA, AMD, AVGO, INTC, JBHT, KLAC, LRCX, MAR, PCAR, TMUS, WYNN
The DJIA, closed up 110 points at 26,026, above 26,000 after being below
for two days, led by strength in UNH, CVX, AAPL, JNJ and NKE.
Eight of eleven sectors were higher on Friday, led by energy XLE +0.58% and healthcare XLV +1.42%.
SPY up 1.74 at 280.42 on 78.8 million
shares, average volume. Up on higher volume.
VIX down 1.21 at 13.57
Oil down 1.50 at 55.75
TLT down 1.36 at 118.66 on 13.5 million shares.
CVX +2.05%, NKE +1.93%, led the DJIA, 26 advancers, +12
GPS +16.18%, SWN +7.57% and MAS +6.50%, led the SPX.
XRAY +17.65%, MYL +4.02%, JD +3.68%, and HAS +3.67% led the NDX.
Long term up
trend intact. 3-day short term trend is up.
Up: IWM, QQQ, SPY, DIA,
Down:
Breadth strengthened
on Friday, as advancers led 1,868 to 1,010 on the NYSE and led 1,975 to 1,072 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: Up
77 of 100 NDX stocks closed higher on Friday.
83
NDX stocks are above their 30
DMA: REGN, WDAY, ROST, LULU, 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, NTAP, VRSK, ALGN, ADP,
CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, CERN, CMCSA, JD, MAR, SYMC, WDC,
AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, QCOM, CTXS,
VRTX, MXIM, SIRI, AMGN, AMZN, BIIB, BMRN, EXPE, XRAY
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 6
AMGN, AMZN, BIIB, BMRN, EXPE,
XRAY
Moving Below 30 DMA = 4
AAL, JBHT, TSLA, UAL,
2 comments:
Thanks for the informative blog Dave. I noticed the SPY monthly MFC green line just turned bullish after 2 months of defensive indications.
shortstar...All oscillators are lagging indicators and the MFC GL is no exception. As soon as January monthly candle bounced the oscillator lacks forecasting insight. The MFC GL slipped below 80 at the end of January but since price went up, the sub 80 reading is irrelevant. The trader should go with the price action and ignore the oscillator in this specific context.
Also since the March monthly reading is one day old and still live, it can change and turn back down before the end of the month also neutralizes its effectiveness. An indicator needs to be closed to be a reliable reading...Dave
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