SPY, QQQ Pause on Monday...HD, WMT Earning Tuesday BMO...Energy, Health Care, Staples Lead Sectors...

 
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QQQ, SPY and IWM opened slightly lower and closed lower.  DIA opened lower and closed higher.  On Monday, sellers and buyers were in balance as SPY formed a doji.  Pauses/pullbacks on lighter volume generally are bullish, suggesting that short-term profit takers created supply, but that similar buying demand offset selling.

HD and WMT report earnings Tuesday BMO. Retails Sales report also will be released BMO.  Fed Chair Powell will speak Tuesday at the “WSJ Future of Everything Festival” at 2 p.m. ET.

SPY down 1.63 at 400.09, on 78.6 million shares, below average volume, down on lower volume.

VIX down 1.40 at 27.47
QQQ down 3.50 at 298.44

CVX, MRK, VZ, CAT led the DJIA, 17 advancers, -8

OXY, NRG, HAL, MRO led the SPX, 192 advancers
SGEN, VRTX, AZN, EA led the NDX, 27 advancers 

The two-year trend term is up.  The one-year trend down a little.

Up:  DIA,

Down:  SPY, IWM, QQQ

Four of eleven sectors were higher on Monday, led by XLE, XLV and XLP.

Energy leaders:  OXY, HAL, MRO, KMI,

Health Care leaders:  VRTX, CNC, CI, LLY

Consumer Staples leaders: ADM, HSY, TAP, PM

Advancers weakened on Monday as advancers led 1,691 to 1,624 on the NYSE and decliners led 2,771 led to 2,018 on the NASDAQ.

The SPY MFC green line is pointed up at 12 and is short-term bullish.  SPY traded in a range on Monday in a countertrend pause as did mega-cap stocks AAPL, MSFT, GOOGL and AMZN.

Uptrend sectors:  XLE, XLU, XLP,

Neutral sectors:  XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

27 of 100 NDX stocks closed higher on Monday.

14 NDX stocks are above their 30 DMA:  KHC, MDLZ, MNST, GILD, HON, AMD, EA, LRCX, NTES, NXPI, PEP, XEL, AMGN, SGEN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

AMGN, SGEN,

Moving Below 30 DMA = 6

ADI, ADSK, AVGO, KLAC, MU, ODFL,

 

 

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