Monday, July 24, 2017

QQQ Hits New All-time Closing High as SPY, DIA, IWM Form Bull Flag...





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HAS -9.44% on EPS reaction, MAT -3.84% down in sympathy.
QQQ makes new all-time high. 
SPY, DIA, IWM forming bull flag.

Two sectors were higher, led by financial XLF +0.44% and technology XLK +0.24%

SPY down .06 at 246.82 on 46.6 million shares, 23% below average. 
VIX up .07 to 9.43.
Oil up .88 to 46.48
TLT down .49 at 125.20…on 5.3 million shares, 24% below average.

CAT +1.49% and AAPL +1.21% led the DJIA, 8 advancers.
XRX +3.77%, NRG +3.23% and CFG +2.81% led the SPX.
TSLA +4.30%, WYNN +3.27%, INCY +3.02% and BIDU +2.83% led the NDX.

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

Up: QQQ, IWM
Down: SPY, DIA,

Uptrend sectorsXLV, XLK, XLY, XLB, XLI, XLF,
Neutral sectors: XLRE, XLU, XLP
Down trend sectors: XLE

Breadth weakened as decliners led 1,609 to 1,273 on the NYSE and led 1,384 to 1,411 on the NASDAQ.

The SPY MFC green line is at 95, bullish.




Look for a potential bounce in: IWM, SPY, DIA, AMAT, KLAC, CCL, AVGO, ATVI, PNC, BABA, MS, EXPE, AABA, AAL, C, JPM, WFC, SCHW, BAC, LUV, MCD, XLNX, JBHT, MMM, MCHP, JNJ, FCX, BBRY,

At support: CSX, DDD, COST,

One Day Pullback: TLT, ADP,

Bounces included: AAPL, KWEB, CC, WMT, AMZN, SHOP, HUN, TAL, WB, ANET,

Potential Breakouts include: WDC, XLY, RCL, MS, ATVI, MAR, FAS, AMD, FCX, EXPE, KLAC, GOOGL, JD, WYN, NVDA, MU, TLT, SWKS, ADP, BBRY, EA, LRCX,

Breakouts: TSLA, MOMO, CC, WYNN, ADSK, MNST,

Break of short-term support: ALK, UAL,

Bear flag:


New Highs: BIDU, BA, RACE, V, FB, AMZN, TAL, QQQ, ADBE, SQ, SPY, AABA, WUBA, PYPL, NFLX, ETFC,



32 of 100 NDX stocks closed higher on Monday.

70 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
FAST, INTU, ISRG,

Moving Below 30 DMA = 5
CMCSA, DISH, DLTR, HAS, MAT                


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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4 comments:

Unknown said...

New to your blog. Big thanks and looking forward to what is to come.

Dave Johnson said...

Fred,

Welcome...prepare to take your technical thinking to a new level!

DJ

Andrea said...

I really like the new format. Love that you will be updating during the day!!!
Also, although I had heard most of the songs before, I don't remember the group Young Rascals. I have enjoyed listening to them the last few days. Thanks for introducing them to me.

Andrea

Unknown said...

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Am so happy you are doing this. Kindest regards, and look forward to trying to follow you. I say trying because there is always learning curve. :-)