Rally Week 15 Ends on a Close Near the SPY Oct 3 Closing High...

© 2019

QQQ, SPY, IWM, DIA, IWM Horizontal Breakout in Rally Week 15…

                  (click image to enlarge)

YTD

QQQ   +19.71%

IWM    +17.54%

SPY    +15.46%

DIA     +13.28%

Alert:  The SPY closed $6.89 higher this week.  If SPY only moves half that amount next week it will make an all-time high above last year’s high of 290.24 and closing high of 289.29.  If it makes an all-time high it will also break out of a 6-month resistance area setting up a new 6-month chart target of $345.  The astute trader will keep in mind that an uptrend is a series of higher highs and higher lows and that pullbacks are part of how the trend moves up.  Fasten your seat belts for a breakout and a potential significant move up over the next several months.

Oil +1.08 rose on Friday and the energy sector led all sectors.  Seven of the top ten SPX gainers were oil stocks:  APA, EOG, APC, DVN, HES, XEC and NBL.

The DJIA, closed up 40 points at 26,424, led by strength in CVX, HD, UNH, AAPL and UTX.  Fifth straight close above 26,000 since March 1.

All eleven sectors were higher on Friday, led by energy XLE +1.76% and utilities XLU +0.94%.

SPY up 1.39 at 288.57 on 48.9 million shares, 20% below average volume. Up on higher volume.

VIX down .76 at 12.82

Oil up 1.08 at 63.26

TLT up .16 at 124.03 on 6.3 million shares. 

CVX +1.30%, WBA +1.00%, led the DJIA, 24 advancers, +5

APA +6.59%, EOG +5.30% and APC +4.33%, led the SPX.

LBTYA +4.35%, NTES +3.68%, JD +3.27%, and CTRP +2.97%, led the NDX.

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

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Friday, as advancers led 2,065 to 792 on the NYSE and led 2,140 to 880 on the NASDAQ

The SPY MFC green line is pointed up at 96 and is bullish.  Did you see the gap and breakout today?

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

Neutral sectors:  XLV, XLF, 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

81 of 100 NDX stocks closed higher on Friday.

90 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TXN, WDC, WYNN, AAL, BMRN, BKNG, JBHT, LBTYA UAL, KHC, SIRI, CHTR, EA, HAS, VRTX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

CHTR, EA, HAS, VRTX,

Moving Below 30 DMA = 0

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SPY Highest Close Since Oct 4...Nearing All-time High...

© 2019

The DJIA, closed up 166 points at 26,384, led by strength in BA, DIS, MMM, HD and UNH.  Fourth straight close above 26,000 since March 1.

Seven of eleven sectors were higher on Thursday, led by materials XLB +1.01% and energy XLE +0.83%.

SPY up .76 at 287.18 on 48.9 million shares, 34% below average volume. Up on lower volume.

VIX down .16 at 13.58

Oil down .31 at 62.18

TLT up .35 at 123.87 on 7.5 million shares. 

BA +2.89%, DIS +1.98%, led the DJIA, 19 advancers, +3

STZ +6.54%, M +5.61% and CPRI +5.03%, led the SPX.

LULU +3.10%, ROST +2.63%, BIDU +2.41%, and FOXA +1.88%, led the NDX.

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

Up: DIA, IWM, SPY,

Down: QQQ,

Breadth strengthened slightly on Thursday, as advancers led 1,879 to 982 on the NYSE and led 1,676 to 1,355 on the NASDAQ

The SPY MFC green line is pointed up at 93 and is bullish.  Did you see the gap, test and rally again today?

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

Neutral sectors:  XLV, XLF, 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

48 of 100 NDX stocks closed higher on Thursday.

86 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TXN, WDC, WYNN, AAL, BMRN, BKNG, JBHT, LBTYA UAL, KHC, SIRI,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

KHC, SIRI,

Moving Below 30 DMA = 5

CTXS, EA, TSLA, VRTX, WDAY,

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Gap, Pullback, Rally on SPY...Another Higher Close Trading Range...

© 2019

The DJIA, closed up 39 points at 26,218, led by strength in HD, GS, UNH, AAPL and INTC.  Third straight close above 26,000 since March 1.

Five of eleven sectors were higher on Wednesday, led by materials XLB +1.31% and technology XLK +0.81%.

SPY up .45 at 286.42 on 68.2 million shares, 9% below average volume. Up on higher volume.

VIX up .38 at 13.74

Oil down .10 at 62.49

TLT down 1.08 at 123.52 on 10.4 million shares. 

DWDP +2.36%, HD +2.21%, led the DJIA, 16 advancers, +7

NLSN +7.22%, DLPH +6.09% and NKTR +4.72%, led the SPX.

AMD +8.49%, LBTYA +4.03%, LRCX +3.95%, and NXPI +3.65%, led the NDX.

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

Up: QQQ, IWM, SPY, DIA,

Down:

Breadth strengthened on Wednesday, as advancers led 1,672 to 1,183 on the NYSE and led 1,786 to 1,230 on the NASDAQ

The SPY MFC green line is pointed up at 87 and is bullish.  Did you see the gap, test and rally today?

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

Neutral sectors:  XLV, XLF, 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

75 of 100 NDX stocks closed higher on Wednesday.

89 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, WDAY, EA, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TSLA, TXN, VRTX, WDC, WYNN, AAL, BMRN, BKNG, CTXS, JBHT, LBTYA UAL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

BKNG, CTXS, JBHT, LBTYA UAL,

Moving Below 30 DMA = 2

INCY, REGN,

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SPY Breakout Test on Light Volume, Highest Close Since Oct 4...Look for Trend Continuation...

© 2019

The DJIA, closed down 79 points at 26,179, led by weakness in WBA, HD, UTX, JNJ and TRV.  Second close above 26,000 since March 1.

Five of eleven sectors were higher on Tuesday, led by real estate XLRE +0.86% and communication services XLC +0.53%.

SPY up .14 at 285.97 on 40.0 million shares, 47% below average volume. Up on lower volume.

VIX down .04 at 13.36

Oil up .82 at 62.59

TLT up .23 at 124.60 on 9.7 million shares. 

AAPL +1.45%, CSCO +0.56%, led the DJIA, 9 advancers, -15

DAL +6.04%, MAT +2.98% and ABBV +2.83%, led the SPX.

WYNN +4.40%, FB +3.26%, ALXN +2.66%, and ALGN +2.41%, led the NDX.

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

Up: QQQ, SPY,

Down: IWM, DIA,

Breadth weakened on Tuesday, as decliners led 1,562 to 1,294 on the NYSE and advancers led 1,560 to 1,492 on the NASDAQ

The SPY MFC green line is pointed up at 81 and is bullish.  The SPY MFC green line is pointed up at 81 and is bullish.  Did you see the breakout test  on light volume today?

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

Neutral sectors:  XLV, XLF, 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

58 of 100 NDX stocks closed higher on Tuesday.

86 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, INCY, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, WDAY, EA, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TSLA, TXN, VRTX, WDC, WYNN, AAL, BMRN, REGN,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

AAL, BMRN, REGN,

Moving Below 30 DMA = 0

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SPY Breaks Out on Bull Flag Bounce Day 5, Next Resistance 290 High...

© 2019

The DJIA, closed up 329 points at 26,258, led by strength in BA, CAT, GS. UTX and MMM.  First close above 26,000 since March 1.

Eight of eleven sectors were higher on Monday, led by financials XLF +2.45% and industrials XLI +2.07%.

SPY up 3.35 at 285.83 on 77.6 million shares, 1% above average volume. Up on lower volume.

VIX down .31 at 13.40

Oil up 1.59 at 61.77

TLT down 2.07 at 124.37 on 16.5 million shares. 

CAT +3.51%, JPM +3.37%, led the DJIA, 24 advancers, -5

DLPH +8.20%, IPGP +6.79% and BSA +5.49%, led the SPX.

WYNN +8.40%, NXPI +6.79%, NTES +6.03%, and MCHP +5.42%, led the NDX.

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

Up: QQQ, DIA, SPY, IWM,

Down:

Breadth strengthened on Monday, as advancers led 2,240 to 702 on the NYSE and led 2,101 to 975 on the NASDAQ

The SPY MFC green line is pointed up at 76 and is bullish.  Did you see the horizontal breakout today?

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

Neutral sectors:  XLV, XLF, 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

87 of 100 NDX stocks closed higher on Monday.

83 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, INCY, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, WDAY, EA, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TSLA, TXN, VRTX, WDC, WYNN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 13

ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TSLA, TXN, VRTX, WDC, WYNN,

Moving Below 30 DMA = 0

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