Technology Leads NDX to New Closing High, SPX Breaks Out of Sixx-week Resistance...

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NDX +306.86, +2.88% and SPX +27.11, +0.84%.  NDX was a bull flag trigger on Monday and is now an HBO setup.  SPX opened flat and closed higher.  SPX was a horizontal breakout today.  

NFLX +5.88, +4.65% rose in after-hours trading, following better than forecast EPS.

IBM, CDNS and ZION reported EPS after the close Monday on the second week of earnings season.

Buying rotated back into big tech stocks on Monday as other sectors weakened driving QQQ and XLK higher. Three of eleven sectors were higher on Monday, led by XLK, XLY and XLC

Technology leaders:  CTXS, NOW, ADBE, AMD

Consumer Discretionary leaders:  AMZN, TSCO, CMG, DG,

Communication Services leaders:  TWTR, ATVI, GOOGL, TTWO

SPY up 2.60 at 324.32 on 56.3 million shares, below average volume, up on lower volume.

VIX down 1.22 at 24.46

MSFT, AAPL, INTC led the DJIA, 10 advancers, -3

NOW, NBL INCY, ADBE led the SPX, 174 advancers

TSLA, ZM, AMZN, CTXS led the NDX, 77 advancers

The two-year trend term is up.  The one-year trend is up.

Up: QQQ, SPY, DIA,

Down: IWM,

Breadth weakened on Monday as decliners led 1,692 to 1,277 on the NYSE and advancers led 1,755 to 1,610 on the NASDAQ

The SPX MFC green line is pointed up at 91 and is short-term bullish.  Price action is a breakout of six-week horizontal resistance.

Uptrend sectors:  XLK, XLY, XLC, XLB, XLI, XLV, XLP,

Neutral sectors:  XLRE, XLF, XLU, 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 Trend: Up

77 of 100 NDX stock closed higher on Monday.

88 NDX stocks are above their 30 DMA:  AMZN, CDNS, ASML, IDXX, KLAC, MSFT, NVDA, SNPS, SWKS, QCOM, AAPL, EBAY, FAST, MCHP, MELI, PYPL, SPLK, ALGN, TSLA, BMRN, ZM, AMAT, JD, NTES, BIDU, AVGO, MXIM, TXN, LRCX, REGN, NXPI, EA, TTWO, ATVI, ILMN, ANSS, NFLX, SGEN, VRTX, AMGN, DOCU, CTXS, DXCM, PEP, VRSK, XLNX, CHKP, COST, FB, GOOGL, LBTYA, MNST, CHTR, BKNG, CMCSA, CTSH, GILD, KHC, PCAR, DLTR, AMD, BIIB, CTAS, INCY, ISRG, LULU, NTAP, ORLY, XEL, CDW, CERN, CPRT, CSX, EXC, EXPE, TCOM, WDC, ADBE, ADSK, CSCO, MRNA, FISV, INTC, TMUS, INTU, MU, VRSN, WDAY, WDC,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

INTU, MU, VRSN, WDAY, WDC,

Moving Below 30 DMA = 0

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