Doji Trading Range on Day 4 of Bull Flag...a Pause in the Bull Flag Bounce...

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SPY, QQQ, DIA, IWM form weekly spinning top following last week’s bullish engulfing pattern, in Week 25 of six month intermediate term trend while forming a new bull flag pattern on the daily chart…

                 (click image to enlarge)

• Lightest weekly SPY trading volume of the last seven weeks. 
• FOMC meeting next Tuesday/Wednesday, June 18 & 19…

The DJIA, closed down 17 points at 26,089, led by weakness in MMM, DOW, BA, CSCO and AAPL.  Closing above 26,000 above for the fifth straight day. 

Six of eleven sectors were higher on Friday, led by utilities XLU +1.05% and real estate XLRE +0.43%. 

SPY down .32 at 289.26 on 52.3 million shares, 33% below average volume. Down on slightly higher volume.

VIX down .09 at 15.82

Oil up 1.12 at 52.20

TLT up .45 at 131.13 on 5.5 million shares. 

HD +1.69%, VZ +1.15%, led the DJIA, 17 advancers, -2

VTR +2.03%, UAA +1.77% and WY +1.70%, led the SPX.

FB +2.18%, INCY +1.75%, DLTR +1.52% and CMCSA +1.49% led the NDX.

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

Up:

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Friday, as decliners led 1,707 to 1,143 on the NYSE and led 1,964 to 1,109 on the NASDAQ

The SPY MFC green line is turned up at 73 and is short-term bullish. 

Uptrend sectors: XLP, XLRE, XLU, XLY, XLK, XLB, XLI, XLC,

Neutral sectors:  XLF, XLV, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

36 of 100 NDX stocks closed higher on Friday.

62 NDX stocks are above their 30 DMA:  PAYX, PEP, CERN, CTAS, CHTR, IDXX, XRAY, TTWO, MELI, ORLY, AMD, MDLZ, WLTW, AMGN, CELG, COST, HAS, HSIC, ILMN, SBUX, VRSK, VRSN, ADP, CSCO, EXPE, FISV, INTU, PCAR, PYPL, SNPS, AMAT, LBTYA, MSFT, MXIM, ROST, WDAY, BKNG, CTSH, EBAY, GILD, ISRG, MAR, AAPL, ADI, AMZN, CDNS, DLTR, INTC, NTES, WBA, ULTA, CTXS, UAL, AAL, ATVI, KLAC, LULU, SIRI, CMCSA, FB, TSLA, VRTX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

CMCSA, FB, TSLA, VRTX,

Moving Below 30 DMA = 6

ADBE, ASML, BIIB, CSX, FAST, TXN,

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