SPX, NDX Close Higher, Nearing All-time February High...Consumer Discretionary, Basic Materials, Technology Lead Sectors...TSLA Forms Bullish Engulfing Pattern...

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SPX +5.52, 6,005, traded in a slightly higher range and made a new three-month closing high nearing its all-time closing high on February 19 at 6,144. 

The DJI, 42,761 -0.00%, closed near unchanged.  The NDX +0.17% traded in a range and rose slightly to a new three-month closing high. 

Breadth was weaker but still positive on Monday as advancers decreased on the exchanges, in the sectors and indexes.  Net change advancing capital continued to lead as institutions continued to buy.

Monday Session Insight: Remember institutions create the trend in institutionally traded stocks.  High volume, large cap stocks are institutionally traded stocks.

TSLA +13.44, +4.55%, formed a white bullish engulfing candle, making a bounce above the high of a following day, after a bullish harami in a bull flag setup.

MDB -2.91, -1.32%, continued to form an earnings flag on Monday, after a positive EPS reaction on Thursday.

AVGO -2.65, -1.07%, lower for a second day in a BO test and bull flag pattern.

Mega caps TSLA, AMZN, GOOGL, TSM, NVDA, MSFT rose and BRK/B, META, AVGO, AAPL fell on Monday. 

SPY up .54 at 599.68, 53.0 million shares, below average volume

VIX up .36 at 17.16,

QQQ up .78 at 530.70

BA, AMZN, DIS, CAT led the DJIA, 13 advancers, -12

ENPH, REGN, AMD, TSLA, ON led the SPX, 267 advancers,

REGN, AMD, MSTR, TSLA led the NDX, 52 advancers,

Up: IWM, QQQ, SPY,

Down: DIA,

The SPY MFC green line is up at 96.3 and is short-term bullish. +0.1

Four of eleven sectors were higher on Monday led by XLY, XLB and XLK. 

Uptrend sectors: XLI, XLU, XLK, XLY, XLC,

Neutral sectors: XLF, XLB, XLP, XLRE,

Down trend sectors: XLE, XLV,

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 a little

52 of 100 NDX stocks closed higher on Monday.

74 NDX stocks are above their 30 DMA: COST, CRWD, CTAS, MNST, NFLX, ADSK, AXON, BKNG, CDNS, IDXX, TTWO, CEG, INTU, ZS, ABNB, ADI, AMAT, ANSS, ARM, AVGO, DDOG, DXCM, KLAC, LRCX, MAR, MCHP, MDB, MSFT, SNPS, TTD, PYPL, ADBE, HON, NVDA, PAYX, VRSK, ADP, AMD, CTSH, AMZN, APP, ASML, CSCO, META, MU, ON, CSX, GEHC, TXN, MRVL, WBD, DASH, BIIB, FAST, GOOGL, LIN, AZN, GILD, PANW, SBUX, AMGN, CCEP, BKR, QCOM, GFS, NXPI, CSGP, ROP, SNPS, CMCSA, FANG, PCAR, PLTR, MDLZ, MSTR, ODFL, TEAM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 4

MDLZ, MSTR, ODFL, TEAM,

Moving Below 30 DMA = 8

CDW, COST, EA, FTNT, ISRG, MELI, ORLY, TMUS,

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