The ES futures opened at 1189.75 down 22 points from Friday’s close a t 1,211.75. The ES futures closed today at 1,197.00. The SPX fell as low as 1,188 during the first hour of trading and like recent gap downs, buyers stepped in and began to fill the gap. The SPX closed down -11.92 at 1,204.09. The VIX moved up +1.75 and closed at 32.73.
A weaker Euro and stronger US dollar helped interest rates move lower and bonds higher once again on Monday.
TNX fell -1.36 to 19.40 and TLT moved +2.14 to a new closing high of 114.38.
CTXS moved below its 30 DMA leaving 84 NDX stocks above the 30 DMA. In our 30 DMA Watch List, eleven stocks moved below the 30 DMA leaving 63 stocks above their 30 DMA.
Intermediate Posture based on the MF Green Line remained bullish today as the green line moved above 60.
Some positions moved below Friday’s low and may have been stopped out depending on where the trader placed their stop. If stopped out a short term trader will look for a new entry signal either to the downside or a new bullish entry on reversal.
NDX opened lower, reversed and closed higher on the strength of AAPL, AMZN, PCLN and SBUX. The NDX today touched July 14 support at 2,318, now new resistance, before closing at 2,308. The SPX, INDU and RUT found support buyers just above their 30 DMA.
(click image to enlarge)
NDX white candle, above30 DMA +0.12%
SPX hanging man-like, above 30 DMA -0.98%
INDU pull back to 30 DMA & bounce, above 30 DMA -0.94%
COMPQ white candle, above 30 DMA -0.36%
RUT pull back to 30 DMA & bounce, above 30 DMA -1.69%
Breadth weakened as decliners led advancers 3.44 to 1 on the NYSE and 3.62 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 674 563
Decliners 2,321 2,040
Index Change Close Direction Confirmation
VIX +1.75 32.73 Up Yes – SPX
SOX -4.42 377.49 Down Yes – COMPQ
Leading stocks > +2% on Monday FAZ, CMG, LVS, GMCR, NGLS, ZAGG, SNDK
Losing stocks < -2.0% included FAS, LDK, ENTR, ZION, UCO, C, ANR, GLW, HAL, TBT, URE, AM, STI, RCL, POT, MOS, BAC, FCX, CLF, CIEN, WLT, ESI, PCX, SLB, AKS, VECO, SOHU, WDC, GS, SWK, DLR, HLF, CREE, UNP, SWKS, LNKD, NVDA, DOW
All nine sectors moved lower on Monday. Consumer Discretionary XLY -0.19%, Technology XLK -0.24%, and Utilities XLU -0.56% were the strongest sectors.
Interest rates TNX closed down -1.34 at 19.42, bond ETF TLT moved up +2.14 and Financials XLF closed down 34 cents. The Euro moved down 108 pips to close at 1.3686 at 5 pm on Monday.
SPX
Resistance: 1,225, 1,235, 1,249
Support: 1,200, 1,177, 1,160
The short term 3 day trend is up.
The six-month trend is down.
The twelve-month trend is neutral.
Trade with the trend of the chart you are trading.
Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.
Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.
AAPL +11.13 – large white candle, all-time high, above 30 DMA
AMZN +2.39 – white candle, all-time high, above 30 DMA
BIDU -1.36 – hammer, potential ascending triangle, above 30 DMA
GOOG -0.01 – white spinning top, above 30 DMA
NFLX -11.44 – large black candle, below 30 DMA
PCLN +5.36 – white candle, above 30 DMA
QCOM -0.20 – spinning top, above 30 DMA
NDX 100 stocks stronger than the NDX include SBUX, WFM, WYNN, GMCR, ALXN, AAPL, SNDK, FLEX, PCLN and AMZN.
Stocks weaker than the NDX include NFLX, NTAP, CTXS, APOL, LRCX, SHLD, AMAT, NIHD, EXPE and STX.
Stocks to Watch on Tuesday
Holding Above 30 DMA = 53
TLT, CF, CHL, SLW, DE, GMCR, KKD, MOS, V, JDSU, LVS, CSTR, SINA, DECK, ICE, NGLS, NVDA, SNDK, TIF, CIEN, CMG, COH, CREE, CRUS, ENTR, HUM, NDAQ, NKE, SMH, UAL, VMW, A, ANF, CRM, DHR, FFIV, LNKD, SWKS, TPX, ARUN, CROX, GES, HLF, RVBD, STI, SWN, URE, WDC, ATI, DOW, IBM, UNP, IL
Moving Above 30 DMA =0
Moving Below 30 DMA = 11
CDE, CLF, DLR, F, FAS, MCP, POT, RCL, UCO, WLT, ZION
Staying Below 30 DMA
AKS, CAT, FWLT, PCX, JNPR, NTES, FAZ, SOHU, ZAGG, GLW, SWK, TSL, BAC, VECO, LDK, HAL, ESI, FCX, GS, SLB, ANR, C, TBT, X, INFA
Six Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
Removed - NETL
No comments:
Post a Comment