AMZN New All-time Closing High…NDX Nears High, SPX, RUT, DJI Continue to Bounce…

AMZN makes a new all-time closing high on Monday as ADSK leads NDX for second straight day.  Last week’s flag bounces move to potential horizontal breakout setup.

SPY, DIA, QQQ continue bounce in bull flag pattern on Monday.

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

SPY up 1.21 at 239*.52 on 61.0 million shares, 20% below average.

VIX falls -1.11 to 10.93.

Oil rises +0.14 to 51.04

TLT down .34 at 123.37…on 4.0 million shares

BA +1.61% and MMM +1.38% lead the DJIA.

BF/B +7.54%, and GCI +3.50% led the SPX.

ADSK +3.14%, QCOM +2.79% and ISRG +2.49% 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 1,990 to 909 on the NYSE and led 1,836 to 967 on the NASDAQ.

The SPY MFC green line is pointed down at 68, and is clearly lagging the Thursday to Monday SPY bounce.  Be defensive but take advantage of the short-term trend in ways that your rules allow.

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

One Day Pullback:

Bounces included: QQQ, XLY, RCL, NFLX, WDC, YHOO, EA, SWKS, AVGO, EXPE, MSFT, AMZN, MAR, AAPL, V, CSX, RACE, WIX,

Break of short-term support:

Potential Breakouts include: ATVI, AMAT, YHOO, BIDU, NTES, MOMO, TLT, UNH, V, SBUX, MAR, COST, KLAC, MCHP, GOOGL, SPY, DIA, RACE, HAS, TXN, COST,

Breakouts: WB, NVDA, JD, LRCX, BABA, ADBE, COST,

New Highs AMZN, WB, BBRY, NVDA, ADBE, JD, BABA, LRCX, XLNX, MCD, WMT,

87 of 100 NDX stocks closed higher on Monday.

61 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 4

DLTR, MYL, PCLN, WDC

Moving Below 30 DMA = 3

TSLA

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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