Monday, April 8, 2019

SPY Inches Closer to October High and Potential Intermediate Term Breakout...


© 2019


Did you see the pullback and bounce todaySPY closes $1.45 below its 2019 high of 290.24, which is a multi-month HBO area.


The DJIA, closed down 83 points at 26,341led by weakness in BA, MCD and NKE.  Sixth straight close above 26,000 since March 1.

Six of eleven sectors were higher on Monday, led by energy XLE +0.44% and staples XLP +0.41%.

SPY up .22 at 288.79 on 53.5 million shares, 27% below average volume. Up on higher volume.
VIX up .36 at 13.18
Oil up 1.20 at 64.46
TLT down .44 at 123.59 on 4.4 million shares. 

AAPL +1.57%, PG +1.27%, led the DJIA, 18 advancers, -6
FCX +3.08%, SLB +2.60% and COG +2.48%, led the SPX.

SYMC +5.44%, WYNN +2.77%, BIDU +1.77%, and CSX +2.91.617%, led the NDX.

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

Up: QQQ, SPY,
Down: IWM, DIA,

Breadth weakened on Monday, as advancers led 1,462 to 1,405 on the NYSE and decliners led 1,611 to 1,431 on the NASDAQ

The SPY MFC green line is pointed up at 97 and is bullish


Uptrend sectorsXLRE, XLU, XLP, XLY, XLK, XLI, XLC, XLB,
Neutral sectors:  XLV, XLF, XLE,
Down trend sectors:

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp


56 of 100 NDX stocks closed higher on Monday.

90 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TXN, WDC, WYNN, AAL, BMRN, BKNG, JBHT, LBTYA UAL, KHC, SIRI, CHTR, HAS, VRTX, EXPE,

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 1
EXPE,

Moving Below 30 DMA = 1
EA,

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