SPY, DIA, QQQ Make All-time New High Close...IWM Hits 52-week High as Oil Continues 2-week Rally...

Seven of nine sectors moved higher on Monday …XLB, XLE and XLF were the strongest sectors while XLU was the weakest sector.  Oil futures rose 1.02 to close at 45.71.

Breadth strengthened as advancers led 1,927 to 1,057 on the NYSE and led 1,766 to 820 on the NASDAQ.

Monday – strengthened, advancers led, +7

Friday – weakened, decliners led, +3

Thursday – strengthened, advancers led, +8

Wednesday – weakened, decliners led, +4

Tuesday – strengthened, advancers led, +4

SPY up .63 at 219.09 on 49.6 million shares, 27% below average volume

VIX up .26 at 11.81

TLT down 1.32 at 138.76…on 5.1 million shares, 34% below average volume

Technical Commentary:

IWM +0.99%, QQQ +0.43%, SPY +0.29%, DIA +0.33%,

SPY, DIA and QQQ make a new all-time high close.  IWM makes a 52-week new high close. QQQ rise. 

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  PCLN, BIIB, TMUS, ETFC, BAC, WFC, XLV, DLTR, CERN, CBG, XLF, IBM,

Bull Flag Bounces include: GPRO, ALXN, CELG, MAR, HPE, EA, FAS, JPM, ZION, C, STI, PCAR, GRMN, AAPL,

Horizontal Breakout Setups include: BXP, DISCA, NFLX, IBM, MRK, UNH, BX, SBAC, CAT, TSN, BURL, HLT, ORLY, FB, URI, MAT, LB, KHC,

Horizontal Breakout include: JD, MU, ROST, LMT, COST, NTES, SYMC, AMAT, WMB, VLO, GS,

New Highs include: AMBA, AVGO, CHTR, CTRP, MU, JD, ADSK, KMX, ULTA, LMT, NTAP, NVDA, STT, SPY, QQQ, MSFT, CBL, TSN, IWM, XLNX

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Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is in the upper zone at 96, bullish.

70 of 100 NDX stocks closed higher and two were unchanged on Monday.

80 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 4

BMRN, DISH, EA, INTU,

Moving Below 30 DMA = 1

CTSH,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up