Volume Jumps on Wednesday as Broad Market Recovers from Intra-day Lows…PYPL, TSLA, SQ New High Close…

PYPL, TSLA, SQ, MCHP, WYN, MAR, each make new all-time closing highs on Wednesday. 

QQQ, pauses following three all-time closing highs

SPY, DIA paused on Wednesday for the third day after horizontal resistance breakout last Thursday.

Six sectors were positive, led by utilities XLU and healthcare XLV.

SPY down -.06 at 241.44 on 91.7 million shares, 27% above average.

VIX rises +0.03 to 10.4138.

Oil falls -1.02 to 48.63

TLT up 0.31 at 124.40…on 8.0 million shares, 14% above average.

PFE +1.62% and DD +1.60% lead the DJIA.

PRGO +3.28% following earnings, HRS +1.96%, and LB +1.90% led the SPX.

VRTX +2.67%, REGN +2.32%, PYPL +2.25% and ILMN +2.18% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up:

Down: SPY, QQQ, DIA, IWM

Uptrend sectors:  XLK, XLY, XLRE, XLV, XLI, XLP, XLU

Breadth strengthened as advancers led 1,469 to 1,465 on the NYSE and decliners led 1,433 to 1,317 on the NASDAQ.

The SPY MFC green line is pointed up at 95, bullish.

Look for a potential bounce in: ADBE, NFLX, ATVI, AAPL, SHOP, UNH, HD, WB, CC, HUN, BBRY, DDD, JD, NTES, MOMO, BABA, BIDU,

One Day Pullback: NVDA, FB, LRCX, MSFT, KLAC,

Bounces included: COST, EA, V, WMT, SHOP,

Break of short-term support:

Potential Breakouts include: TLT, WDC, RCL, XLY, AVGO, ANET, YHOO, EXPE, XLNX,

Breakouts: AMAT, RACE,

New Highs PYPL, TSLA, SQ, MCHP, HAS, WYN, MAR, COST, MCD, SBUX, MU, SWKS, QQQ, SPY, DIA, CSX, AMZN, GOOGL,

56 of 100 NDX stocks closed higher and one was unchanged on Wednesday.

70 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

ROST, XRAY,

Moving Below 30 DMA = 2

CA, INTC,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

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Light Volume on Tuesday following Memorial Day Weekend, MU, TSLA, NVDA, SQ New High Close…

MU, TSLA, NVDA, SQ, LRCX, MSFT, COST, CSX, GOOGL, AMZN each make new all-time closing highs on Tuesday. 

QQQ, makes new all-time closing high

SPY, DIA paused on Tuesday for the second day after horizontal resistance breakout on Thursday.

Three sectors were positive, led by technology XLK and utilities XLU.

SPY down -.21 at 241.50 on 35.2 million shares, 51% below average.

VIX rises +0.57 to 10.38.

Oil falls -.22 to 49.65

TLT up 0.61 at 124.09…on 4.6 million shares, 30% below average.

VZ +1.94% and MMM +0.88% lead the DJIA.

BWA +3.28%, HPQ +2.54%, and WHR +2.27% led the SPX.

MU +3.16%, TSLA +3.06%, ADI +2.40% and NVDA +2.14% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ,

Down: DIA, SPY, IWM

Uptrend sectors:  XLK, XLY, XLRE, XLV, XLI, XLP, XLU

Breadth weakened as decliners led 1,802 to 1,128 on the NYSE and led 1,856 to 931 on the NASDAQ.

The SPY MFC green line is pointed up at 95, bullish.

Look for a potential bounce in: COST, ADBE, EA, NFLX, V, ATVI, WMT, AAPL, JD, SHOP, UNH, HD, WB, NTES, CC, HUN, MOMO, BBRY, DDD,

(click image to enlarge)

One Day Pullback:

Bounces included: NVDA, BABA,

Break of short-term support:

Potential Breakouts include: TLT, WDC, RCL, XLY, AMAT, RACE, AVGO, FB, ANET, BIDU, YHOO, EXPE, XLNX,

Breakouts: TSLA, MU,

New Highs QQQ, MU, TSLA, NVDA, SQ, LRCX, MSFT, COST, CSX, MCHP, SWKS, AMZN, HAS, WYN, GOOGL, MCD, SBUX, MAR, PYPL, SPY, DIA, KLAC,

39 of 100 NDX stocks closed higher on Tuesday.

70 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

CA

Moving Below 30 DMA = 0

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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Light Volume on Friday Headed into Memorial Day Weekend, Markets Closed Monday…

We appreciate and thank all people and families who have served and sacrificed to create and protect freedom for our country.  Have a safe and blessed Memorial Day Weekend.

AMZN GOOGL, HAS, MAR, each make new all-time closing highs on Friday. 

QQQ, makes new all-time closing high

SPY, DIA pause on Friday after horizontal resistance breakout on Thursday.

Five sectors were positive, led by staples XLP and discretionary XLY.

SPY down -.05 at 241.71 on 46.6 million shares, 36% below average.

VIX falls -0.18 to 9.81.

Oil gains +1.16 to 49.87

TLT up 0.21 at 123.48…on 2.9 million shares, 58% below average.

DIS +1.14% and CAT +0.61% lead the DJIA.

MNK +5.56%, GCI +4.97%, and KSU +3.09% led the SPX.

SIRI +3.32%, ULTA +3.19% following earnings, TSLA +2.62% and NVDA +2.59% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ,

Down: DIA, SPY, IWM

Uptrend sectors:  XLK, XLY, XLRE, XLV, XLI, XLP, XLU

Breadth weakened slightly as advancers led 1,542 to 1,345 on the NYSE and decliners led 1,455 to 1,316 on the NASDAQ.

The SPY MFC green line is pointed up at 93, bullish.

Look for a potential bounce in: WMT, AAPL, WB, JD, DDD, SHOP, NTES, CC, HUN, MOMO,

One Day Pullback: ADBE, EA, V, ATVI, HD, UNH, NFLX, BBRY,

Bounces included: NVDA, BABA, TLT,

Break of short-term support:

Potential Breakouts include: TSLA, XLY, MU, AMAT, RACE, AVGO, WDC, FB, ANET, BIDU, YHOO, EXPE, XLNX,

Breakouts: MU, RCL, COST, MSFT,

New Highs QQQ, SBUX, COST, CSX, AMZN, HAS, MAR, WYN, GOOGL, LRCX, MCD, PYPL, MSFT, SQ, SPY, DIA, MCHP, SWKS, KLAC,

55 of 100 NDX stocks closed higher on Friday.

69 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

MAT

Moving Below 30 DMA = 3

CAT SHPG, XRAY

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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QQQ, SPY, DIA Break out of Resistance to New All-time Closing Highs…

AMZN GOOGL, ADBE, EA, HAS, V, ATVI, SQ, MAR, each make new all-time closing highs on Thursday. 

QQQ, SPY, DIA make new all-time closing high

QQQ, SPY, DIA breakout of horizontal resistance on Thursday.

Eight sectors were positive, led by discretionary XLY and utilities XLU.

SPY up 1.15 at 241.76 on 64.0 million shares, 14% below average, volume up on breakout.

VIX falls -0.03 to 9.99.

Oil drops -2.59 to 48.71

TLT up 0.04 at 123.27…on 6.4 million shares

UNH +1.40% and TRV +1.37% lead the DJIA.

BBY +21.48%, PVH +4.84%, and CSRA +4.62% following earnings led the SPX.

ULTA +4.47% following earnings, NFLX +3.36%, CSX +2.79% and AAL +2.67% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, DIA, IWM

Down:

Uptrend sectors:  XLK, XLY, XLRE, XLV, XLI, XLP, XLU

Breadth weakened slightly as advancers led 1,524 to 1,402 on the NYSE and led 1,479 to 1,313 on the NASDAQ.

The SPY MFC green line is pointed up at 88, bullish.

Look for a potential bounce in: WMT, AAPL, WB, JD, BABA, DDD, SHOP, TLT, NTES, CC, HUN, MOMO,

(click image to enlarge)

One Day Pullback: NVDA,

Bounces included: HD, TSLA, XLNX, XLY,

Break of short-term support:

Potential Breakouts include: FB, ANET, MU, BIDU, RACE, AVGO, RCL, WDC, AMAT, YHOO, COST, EXPE, MSFT,

Breakouts: QQQ, SPY, DIA, SBUX, SWKS, CSX, KLAC, UNH, NFLX,

New Highs SQ, AMZN, ADBE, EA, HAS, MAR, GOOGL, ATVI, V, BBRY, LRCX, MCD, MCHP, PYPL

83 of 100 NDX stocks closed higher on Thursday.

71 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6

ADP, CA, CHTR, TSLA, ULTA, XRAY

Moving Below 30 DMA = 0

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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QQQ, SPY Make New All-time Closing High…AMZN, GOOGL, ADBE, EA, HAS, V, ATVI, PYPL, SQ, MAR, Also Hit New All-time Closing Highs…

QQQ and SPY make new all-time closing high

QQQ, SPY, DIA are horizontal resistance breakout setups on Wednesday.

Eight sectors were positive, led by materials XLB and utilities XLU.

SPY up 0.56 at 240.61 on 49.1 million shares, 34% below average.

VIX falls -0.70 to 10.02.

Oil down -0.19 to 51.30

TLT up 0.69 at 123.23…on 7.4 million shares

GS +1.91% for the second day and KO +1.44% lead the DJIA.

NRG +5.54%, AES +3.34%, and WRK +3.06% led the SPX.

INTU +6.72% following earnings, CHTR +3.22%, MAT +3.03% and EA +3.03% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ, DIA, SPY, IWM

Down:

Uptrend sectors:  XLK, XLY, XLRE, XLV, XLI, XLP, XLU

Breadth weakened slightly as advancers led 1,648 to 1,261 on the NYSE and led 1,420 to 1,297 on the NASDAQ.

The SPY MFC green line is pointed up at 80, bullish.

Look for a potential bounce in: HD, TSLA, XLNX, XLY, WMT, AAPL, WB, JD, BABA, DDD, SHOP, TLT, NTES, CC, HUN, MOMO,

(click image to enlarge)

One Day Pullback:

Bounces included: FB, ANET, MCD,

Break of short-term support:

Potential Breakouts include: QQQ, SPY, DIA, SBUX, MCHP, SWKS, MU, BIDU, CSX, KLAC, RACE, UNH, AVGO, RCL, WDC, AMAT, YHOO, COST, NFLX, EXPE, MSFT,

Breakouts: NVDA, PYPL, EA, V, HAS,

New Highs SQ, AMZN, ADBE, PYPL, EA, HAS, MAR, GOOGL, ATVI, V, BBRY, LRCX,

67 of 100 NDX stocks closed higher on Tuesday.

65 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

INTC, LVNTA, TXN, VRSK

Moving Below 30 DMA = 2

XRAY, ULTA

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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MAR, AMZN, ADBE, SQ Make New All-time Closing High…NDX, SPX Near High, RUT, DJI Continue to Bounce as Upward Momentum Slows Near Resistance…

AMZN inches to a new all-time closing high on Tuesday.  Last week’s flag bounces move to potential horizontal breakout setup.

SPY just 25 cents below all-time closing high on May 15, formed potential hanging man.

QQQ closed 52 cents below all-time closing high on May 16

QQQ, SPY, DIA, IWM upward momentum slows near resistance on Tuesday.

Nine sectors were positive, led by financials XLF and healthcare XLV.

SPY up 0.53 at 240.05 on 48.3 million shares, 37% below average.

VIX falls -0.21 to 10.72.

Oil rises +0.45 to 51.49

TLT down .83 at 122.54…on 7.4 million shares

GS +1.68% and CAT +1.31% lead the DJIA.

A +4.60% following earnings, ADM +3.71%, NUE +3.71% and RF +2.84% led the SPX.

MYL +2.46%, MNST +2.25% and EBAY +2.22% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: IWM, DIA, SPY, QQQ,

Down:

Uptrend sectors:  XLK, XLY, XLRE, XLV, XLI, XLP, XLU

Breadth weakened as advancers led 1,740 to 1.171 on the NYSE and led 1,451 to 1,305 on the NASDAQ.

The SPY MFC green line is flat at 68, and still lagging the SPY bounce.  Be defensive but take advantage of the short-term trend in ways that your rules allow.  Be prepared to return to up trending on the SPY.

Look for a potential bounce in: HD, FB, TSLA, CC, HUN, DDD, ANET, SHOP, TLT,

One Day Pullback: WB, NVDA, JD, BABA, XLNX, MCD, AAPL, XLY,

Bounces included: PYPL, MU,

Break of short-term support:

Potential Breakouts include: AMAT, YHOO, BIDU, MCHP, EA, SWKS, QQQ, RACE, NTES, MOMO, UNH, V, CSX, SBUX, KLAC, SPY, DIA, HAS, COST, JD, WB, AVGO, NVDA, RCL, NFLX, WDC, EXPE, MSFT,

Breakouts: MAR, GOOGL, ATVI, V,

New Highs SQ, AMZN, ADBE, MAR, LRCX, ATVI, V, WMT, BBRY,

52 of 100 NDX stocks closed higher on Tuesday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

CTAS, PAYX, SIRI, XRAY,

Moving Below 30 DMA = 2

DLTR, TXN,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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