Markets Fall Overnight as Economic Concerns Increase...QQQ, SPY, DIA, IWM Open Lower and Rally from Support...

  
© 2021


Stocks in Asia and Europe traded lower on economic concerns related to recovery from the Covid-19 slowdown, which in turn sent U.S. futures lower overnight.  U.S. traders took advantage of the opening pullback as futures and indexes rallied from morning lows.
 
Semiconductor stocks, SMH gapped lower and rallied to close -1.34%. 
 
DJI -259.86, -0.75%, closed at 34,421.  GS, HD, TRV and AXP were the largest point decliners on Thursday.
NDX -88.40, -0.60%, closed at 14,722.
SPX -37.31, -0.86%, closed at 4,320.
 
TSLA +0.34%, opened lower and rebroke out of May 28 resistance is a bull flag price pattern.
 
SPY = One-day bull flag pattern.
DIA = Open lower support bounce.
QQQ = One-day bull flag pattern.
IWM = Open lower support bounce.
 
All eleven sectors were lower on Thursday, led by XLRE, XLY and XLU.
 
Real Estate leaders: EQR, MAA, AVB, WY
Consumer Discretionary leaders: ETSY, TSLA, PENN, AMZN
Utilities leaders: AWK, ES, DTE, WEC
 
 
SPY down 3.54 at 430.92, on 97.5 million shares, above average volume, down on higher volume.  
VIX up 2.80 at 19.00
 
BA, IBM, AMGN, NKE led the DJIA, 5 advancers, -16
SWN, BLL, COG, MKTX led the SPX, 64 advancers.
MRNA, BIIB, TSLA, AMZN led the NDX, 17 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, DIA, SPY, IWM,
 
Advancers weakened on Thursday as decliners led 2,505 to 809 on the NYSE and led 2,888 to 1,437 on the NASDAQ.
 
The SPY MFC green line turned down at 94.2 and is counter-trend defensive.  SPY a one-day bull flag pattern. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLY, XLRE, XLE, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
 
17 of 100 NDX stocks closed higher on Thursday.
 
62 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, BIDU, ROST, VRSK, ADP, AMGN, GILD, AVGO, CMCSA, NTES, PEP, AEP, CSCO, SBUX, CERN, FAST, CHKP,  
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
CHKP,  
 
Moving Below 30 DMA = 4
ASML, CSX, SIRI, TXN,
 
 
Add Comments here:

SPX, NDX All-time Closing Highs, Materials, Industrials, Utilities Lead Sectors...

  
© 2021
 

The SPX and NDX made new all-time closing highs today.  The DJI closed higher Wednesday but closed below Friday’s closing high.
 
Semiconductor stocks, SMH closed -1.39%, and traded lower in its bull flag pattern. 
 
DJI +104.42, +0.30%, closed at 34,681.  HD, MMM, AAPL and MSFT were the largest point gainers on Wednesday.
NDX +24.18, +0.16%, closed at 14,810.
SPX +14.59, +0.34%, closed at 4,358.
 
TSLA -2.26%, is in a bull flag pattern.
 
SPY = All-time high.
DIA = Channel bounce.
QQQ = All-time high.
IWM = Channel bounce down.
 
Eight of eleven sectors were higher on Wednesday, led by XLB, XLI and XLU.
 
Basic Materials leaders: NUE, MLM, VMC, PPG
Industrials leaders: ROK, PNR, GWW, LDOS
Utilities leaders: AWK, ES, DTE, WEC
 
 
SPY up 1.53 at 434.46, on 63.4 million shares, above average volume, up on lower volume.  
VIX down .24 at 16.20
 
AAPL, MMM, HD, HON led the DJIA, 21 advancers, +13
ORCL, NUE, KMX, ROK led the SPX, 333 advancers.
BIIB, VRSK, FAST, CSX led the NDX, 55 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: SPY, DIA, QQQ,
Down: IWM,
 
Advancers strengthened on Wednesday as decliners led 1,705 to 1,579 on the NYSE and led 2,839 to 1,496 on the NASDAQ.
 
The SPY MFC green line turned up at 97.4 and is bullish.  SPY closed at an all-time high. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLY, XLRE, XLE, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
55 of 100 NDX stocks closed higher on Wednesday.
 
65 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, BIDU, ROST, SIRI, TXN, VRSK, ADP, AMGN, GILD, AVGO, CMCSA, NTES, PEP, AEP, CSCO, SBUX, ASML, CERN, FAST, CSX,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
CSX,
 
Moving Below 30 DMA = 2
ADI, MXIM,
 
 
Add Comments here:

NDX All-time High, SPX Pauses as DJI, RUT Pull Back...Real Estate, Utilities, Tech Lead Sectors...

© 2021
 

The NDX made a new all-time closing high on today.  The SPX pulled back after making a new all-time closing high for seven days in a row.  The DJI also pulled back on Tuesday.
 
Semiconductor stocks, SMH closed -0.03%, and traded in range in its bull flag pattern. 
 
DJI -208.98, -0.60%, closed at 34,577.  AMGN, GS, CAT and HD were the largest point decliners on Tuesday.
NDX +58.73, +0.40%, closed at 14,786.
SPX -8.80, -0.20%, closed at 4,343.
 
TSLA -2.85%, broke diagonal support in a seven-day pennant, shifting to a bull flag pattern.
 
SPY = Pause forms potential hanging man after an all-time high on Friday.
DIA = Close below the LOHD at 6-week resistance.
QQQ = All-time high.
IWM = Channel bounce down.
 
Four of eleven sectors were higher on Tuesday, led by XLRE, XLU and XLK.
 
Real Estate leaders: EXR, EQIX, MAA, PSA
Utilities leaders: AWK, D, NEE, AEE
Technology leaders: ANET, NLOK, ORCL, TYL
 
 
SPY down .79 at 432.93, on 68.5 million shares, above average volume, down on higher volume.  
VIX up 1.37 at 16.44
 
AAPL, CRM, AXP, V led the DJIA, 8 advancers, -14
GNRC, ABMD, ANET, EXR led the SPX, 152 advancers.
AMZN, DOCU, ZM, OKTA led the NDX, 40 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ,
Down: SPY, DIA, IWM,
 
Advancers weakened on Tuesday as decliners led 2,150 to 1,177 on the NYSE and led 3,014 to 1,407 on the NASDAQ.
 
The SPY MFC green line turned down at 97 and is counter-trend defensive.  SPY had a pause day and formed a potential hanging man at its all-time high. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLY, XLRE, XLE, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
40 of 100 NDX stocks closed higher on Tuesday.
 
66 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, BIDU, ROST, SIRI, TXN, VRSK, ADP, AMGN, GILD, AVGO, CMCSA, NTES, PEP, AEP, CSCO, SBUX, ASML, CERN, FAST,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 9
AMAT, BIDU, CSCO, CSX, EA, JD, NTES, NXPI, SGEN,
 
Add Comments here: 

SPX, NDX, DJI Hit All-time Closing Highs Heading into 3-day Weekend...Happy Fourth of July!

 
© 2021
 
The SPX made a new all-time closing high for the seventh day in a row.  The NDX also hit a new all-time closing high on Friday.  The DJI made an all-time closing high but was below it all-time intraday high on May 10.
 
Semiconductor stocks, SMH rose +0.55%, and is a bull flag pattern. 
 
DJI +152.82, +0.44%, closed at 34,786.  MSFT, UNH, V and CRM were the largest point gainers on Friday.
NDX +167.58, +1.15%, closed at 14,727.
SPX +32.40, +0.75%, closed at 4,352.
 
TSLA +0.14%, formed another spinning top in a seven-day pennant.
 
SPY = All-time high.
DIA = All-time closing high by 4 cents (not intra-day high).
QQQ = All-time high.
IWM = Channel bounce pause, below resistance.
 
Nine of eleven sectors were higher on Friday, led by XLE, XLU and XLV.
 
Technology leaders: ORCL, PAYC, FTNT, MSFT
Health Care leaders: JNJ, ZTS, EW, REGN
Consumer Discretionary leaders: HLT, KMX, AMZN, CMG
 
 
SPY up 3.29 at 433.72, on 57.6 million shares, below average volume, up on higher volume.  
VIX down .41 at 15.07
 
MSFT, AAPL, JNJ, V led the DJIA, 22 advancers, -1
ORCL, PAYC, HLT, KMX led the SPX, 301 advancers.
GOOGL, AMZN, MSFT, XLNX led the NDX, 78 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA,
Down: IWM,
 
Advancers weakened on Friday as advancers led 1,679 to 1,603 on the NYSE and decliners led 2,601 to 1,737 on the NASDAQ.
 
The SPY MFC green line is pointed up at 98 and is bullish.  SPY closed at a new all-time high. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLY, XLRE, XLE, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
78 of 100 NDX stocks closed higher on Friday.
 
75 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, BIDU, ROST, SIRI, TXN, VRSK, ADP, AMGN, GILD, AVGO, CMCSA, NTES, PEP, AEP, CSCO, SBUX, ASML, CERN, CSX, EA, FAST, NXPI,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 6
ASML, CERN, CSX, EA, FAST, NXPI,
 
Moving Below 30 DMA = 2
FOXA, VRTX,
 
Add Comments here:

SPX Sixth Straight All-time Closing High, RUT, DJI, NDX Higher...MU Negative EPS Reaction Drags Semis Lower...

© 2021
 
The SPX made a new all-time closing high for the sixth day in a row.  The NDX, which was lower most of Thursday on weakness in semiconductor stocks after a negative earnings reaction in MU, did close five points higher and twelve points below its 14,572 all-time high on Tuesday.
 
Semiconductor stocks, SMH fell -1.48% after a negative earnings reaction in MU. 
 
DJI +131.02, +0.38%, closed at 34,633.  UNH, NKE, AMGN and HD were the largest point gainers on Thursday.
NDX +5.25, +0.04%, closed at 14,560.
SPX +22.44, +0.52%, closed at 4,319.
 
TSLA -0.26%, formed a spinning top in a six-day pennant.
 
SPY = All-time high.
DIA = Channel bounce continuation.
QQQ = Trend continuation.
IWM = Channel bounce continuation.
 
Ten of eleven sectors were higher on Thursday, led by XLE, XLU and XLV.
 
Energy leaders: FANG, OXY, MRO, FTI
Utilities leaders: ETR, XEL, CMS, SO
Health Care leaders: VTRS, REGN, CTLT, HCA,
 
 
SPY up 2.37 at 430.33, on 53.4 million shares, below average volume, up on lower volume.  
VIX down .35 at 15.48
 
NKE, TRV, CVX, AXP led the DJIA, 24 advancers, -1
FANG, OXY, MRO, FTI led the SPX, 400 advancers.
REGN, MAR, CPRT, FB led the NDX, 52 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, SPY, DIA, QQQ,
Down:
 
Advancers strengthened on Thursday as advancers led 2,150 to 1,149 on the NYSE and led 2,471 to 1,896 on the NASDAQ.
 
The SPY MFC green line is pointed up at 97.9 and is bullish.  SPY closed at a new all-time high. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLRE, XLE, XLY, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
52 of 100 NDX stocks closed higher on Thursday.
 
71 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, BIDU, ROST, SIRI, TXN, VRSK, ADP, AMGN, GILD, AVGO, CMCSA, NTES, PEP, AEP, CSCO, FOXA, SBUX, VRTX,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 5
AEP, CSCO, FOXA, SBUX, VRTX,
 
Moving Below 30 DMA = 9
ASML, ATVI, EA, INCY, KLAC, LRCX, MU, NXPI, PDD,
 
 
Add Comments here: