SPY and DIA in
a bull flag pattern
QQQ broke out of the horizontal resistance of a
short-term reversal pattern
IWM bounced and was a second chance bull flag bounce
entry.
Six sectors were positive, led by energy XLE and technology XLK.
SPY up .29 at 243.13 on 66.9 million shares, 5% below average
VIX down -.46 to 10.02.
Oil up .39 to 43.17
TLT down -.06 at 127.78…on
4.3 million shares, 40% below average.
V +1.73% and BA +1.40% lead
the DJIA.
EQT +8.00%, AA +4.33% and
SWN +4.32% led the SPX.
JD +3.92%, WDC +3.42%, TRIP +3.41% and LBTYA +3.27% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
IWM, QQQ, SPY, DIA
Down:
Uptrend
sectors: XLV,
XLF, XLI, XLU, XLRE, XLB, XLY, XLP, XLK,
Breadth strengthened
as advancers led 1,974 to 921 on the
NYSE and led 1,840 to 977 on the
NASDAQ.
The SPY MFC green
line is pointed
down in upper zone at 86, bullish.
Look for
a potential bounce in: SPY, DIA, XLY, C,
MMM, LRCX, DDD, TAL, CC, BBY, KLAC, MAR, WB, EA,
One Day
Pullback: MCD,
Bounces included:
IWM, AMAT, MCHP,
Break of
short-term support: COST, BBRY, WMT
Potential
Breakouts include: TSLA, FB, ADSK, CSX, ATVI, SWKS, AMZN,
NVDA, PYPL, BABA, SQ, RCL, RACE, MOMO, SHOP, KWEB, BIDU, AVGO, AAPL, XLNX, GOOGL,
V, AMD,
Breakouts:
QQQ, NFLX, MNST, ADBE, HUN, WDC, ANET, GOOGL, JD, AABA, MCD,
New Highs: EXPE, ADBE, WDC, WYN, MCD, TLT, ANET,
64 of 100 NDX stocks closed
higher and two were unchanged on Friday.
58
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
ADSK, CSCO, JBHT
Moving Below 30 DMA = 2
CHTR, EA
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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