SQ, TSLA, KLAC, SHOP, MU each made new all-time
closing highs on Tuesday.
SPY, DIA, QQQ, closed lower for the
second straight day on Tuesday forming a bull flag, after
new all-time highs on Friday.
Two sectors were positive, led by energy XLE and materials XLB.
SPY down -0.78 at 243.21 on 50.3 million shares, 27% below average.
VIX up .38 to 10.45.
Oil rises +0.59 to 47.98
TLT up .68 at 125.52…on 12.8 million shares, 82% above average.
XOM +1.36% and CVX +0.95% lead
the DJIA.
AMD +7.03%, SWN
+5.56% and NEM +4.76% led the SPX.
NTES +3.19%, PCAR
+2.89%, ADI +1.71%
and
TSLA +1.59% led
the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
Down:
IWM, DIA, SPY, QQQ,
Uptrend
sectors: XLY, XLP,
XLV, XLI, XLU, XLK, XLRE, XLB
Breadth strengthened
as decliners led 1,580 to 1,332 on the NYSE and led 1,747 to 1,058 on the NASDAQ.
The SPY MFC green
line is flat in
upper zone at 95, bullish.
Look for
a potential bounce in: SPY, DIA, XLY, WDC,
ADSK, AAPL, BBRY, MCD, CSX, WYN, RCL, MAR, BIDU, JD, CC,
One Day
Pullback: QQQ, NVDA, BABA, ADBE, FB, EBAY,
WMT, PYPL, AMZN, V, EA,
Bounces included:
TLT, DDD,
Break of
short-term support:
Potential
Breakouts include: TLT, ATVI, MOMO, KWEB, NFLX, XLNX, AMD, BABA,
ADBE, FB, MNST, YHOO, BBRY, WB, HD, HUN
Breakouts:
NTES, AMD,
New Highs SQ, TSLA, KLAC, SHOP, MU, UNH, MCHP,
ANET, AVGO, WDC, LRCX, MSFT, HAS, RACE, AVGO, NVDA, EXPE, GOOGL, COST, AMAT,
SWKS, SBUX,
27 of 100 NDX stocks closed
higher and two were unchanged on Tuesday.
70
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 1
ADI
Moving Below 30 DMA = 5
ESRX, FAST, ILMN, INTC, TMUS
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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