IWM Leads… SPY, DIA in Bull Flag Price Pattern…

SPY and DIA in a bull flag pattern

QQQ is a second chance breakout setup

IWM bounced and now a breakout setup.

Seven sectors were positive, led by utilities XLU and financial XLF.

SPY up .16 at 243.29 on 56.7 million shares, 20% below average

VIX down -.12 to 9.90.

Oil up .32 to 43.49

TLT up .48 at 128.26…on 5.5 million shares, 23% below average.

GS +1.50% and DIS +1.16% lead the DJIA.

FE +4.08%, EQT +3.84% and CVS +3.50% led the SPX.

FOXA +3.13%, VIAB +2.87%, DLTR +2.84% and MU +2.43% led the NDX.

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

Up: IWM, SPY, DIA

Down: QQQ,

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

Breadth weakened as advancers led 1,911 to 1,022 on the NYSE and led 1,512 to 1,284 on the NASDAQ.

The SPY MFC green line is pointed down in upper zone at 83, bullish.

Look for a potential bounce in: SPY, DIA, C, MMM, RCL, LRCX, DDD, CC, KLAC, MAR, WB, EA, NVDA, AMAT, MCHP, BBRY, WMT,

One Day Pullback: EXPE, ADBE, WDC, ANET, QQQ, NFLX, MNST, ADBE, HUN, WDC, GOOGL, AABA, MCD, SHOP,

Bounces included: XLY, TAL, BBY, COST, CSX,

Break of short-term support:

Potential Breakouts include: IWM, JD, TSLA, FB, ADSK, ATVI, SWKS, AMZN, PYPL, BABA, SQ, RACE, MOMO, KWEB, BIDU, AVGO, AAPL, XLNX, GOOGL, V, AMD,

Breakouts:

New Highs: WYN, TLT,

37 of 100 NDX stocks closed higher and three were unchanged on Monday.

60 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 6

CSX, DISCA, EA, FOXA, LBTYA, VIAB

Moving Below 30 DMA = 4

ADI, ADSK, CTRP, GOOG

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

Add Comments here