SPY Pauses at Resistance as IWM Breaks Out...Real Estate, Communication, Materials Leads Sectors...CPI on Wednesday BMO...

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The SPX -5.13 opened higher, trader higher for 90 minutes before pulling back from resistance and closing slightly lower.  TLT, GLD and /CL closed higher, while DXY and TNX moved lower.

IWM breaks out and closes above 3-month resistance joining QQQ.

CPI will be released BMO Wednesday morning at 8:30 am ET.

SPY down .48 at 412.99, on 54.0 million shares, below average volume, down on lower volume.

VIX up .14 at 21.29

QQQ down 1.04 at 320.71

DIS, DOW, WBA, MRK led the DJIA, 18 advancers, +2

PENN, GPS, GM, APTV led the SPX, 315 advancers

TEAM, LCID, WDAY, NFLX led the NDX 50 advancers

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

Up:  IWM, DIA,

Down:  SPY, QQQ,

Seven of eleven sectors were higher on Monday, led by XLRE, XLC and XLB.  All sectors were stronger than SPY except XLK.

Real Estate leaders:  VNO, PEAK, SPG, KIM

Communication Services leaders:  PARA, NFLX, LUMN, DIS

Materials leaders:  SEE, ALB, CTVA, PKG

Advancers strengthened on Monday as advancers led 2,152 to 1,074 on the NYSE and led 2,938 to 1,713 on the NASDAQ.

The SPY MFC green line is pointed down slightly in the upper zone at 93.7 and is short-term bullish.  SPY opened higher, traded higher for 90 minutes before pulling back from resistance and closing slightly lower.

Uptrend sectors:   XLK, XLY, XLU,

Neutral sectors:   XLI, XLV, XLRE, XLC, XLF, XLP,

Down trend sectors:  XLE, XLB,

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Sideways

50 of 100 NDX stocks closed higher on Monday.

83 NDX stocks are above their 30 DMA:   MRNA, COST, DXCM, ORLY, KDP, PEP, VRSK, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, QCOM, TSLA, ADI, ROST, SWKS, TXN, ALGN, AMZN, ATVI, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, SNPS, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, INTU, LRCX, MAR, MDLZ, MELI, MRVL, NVDA, PAYX, PCAR, PYPL, EA, ILMN, HON, AEP, EXC, XEL, TMUS, BKNG, CRWD, DOCU, GOOGL, LULU, MSFT, OKTA, TEAM, WBA, WDAY, FAST, CTSH, DDOG, ZS, BIIB, META, REGN, ZM, DLTR, VRTX, AMGN, SGEN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

AMGN, SGEN,  

Moving Below 30 DMA = 0

 

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