After the close Review of VIX, DIA, QQQ, SPY, IWM, RCL, CCL, NCLH,
PYPL, NVDA, AMD, MS, SYMC, ADSK, STT, ETFC, FB, AAPL, AMZN, NFLS, GOOGL, EA,
ZION, AXP, JD, MSFT, MCD, V, AAL, ATVI, ADBE, FAS, BAC, NKE, UNH, C, TLT
Six sectors were higher led by financial XLF +0.72% and utilities XLU +0.56%
SPY up .55 at 247.32 on 55.0 million shares, 5% below avg. Up on slightly lower volume.
VIX down .17 at 10.09.
Oil down 1.38 to 48.79
TLT up .60 at 124.64…on
9.6 million shares, 36% above avg. Up on higher volume.
INTC +2.48% and CVX +1.46% led
the DJIA, 22 advancers.
XRX +5.84% eps, SCG +4.96%
and APD +3.52% eps led the SPX.
NCLH +3.34%, TMUS +2.29%, DISH +2.28% and
ORLY +1.89% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
DIA, QQQ, SPY IWM
Down:
Uptrend
sectors: XLK, XLY,
XLB, XLF, XLV, XLI,
Neutral
sectors: XLRE, XLU, XLP, XLE
Down
trend sectors:
Breadth strengthened
on Tuesday as
advancers led 1,749 to
1,130 on
the NYSE and led 1,506 to 1,288 on the NASDAQ.
The SPY MFC green
line is at 89,
bullish.
59 of 100 NDX stocks closed
higher and one was unchanged on Tuesday.
61
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 5
CSCO, DISH, FAST, ROST,
TMUS
Moving Below 30 DMA = 7
AMGN, IDXX, INCY MDLZ, MYL, NTES, PAYX
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Neutral
Earnings Week of July 31…
NDX
Monday = DISCA
Tuesday = AAPL, IDXX, INCY, ILMN, FISV,
Add Comments here
11 comments:
Really like the trade follow up like you are doing with SPX Iron Condor and MCD set up adjustments. Looking forward to you having more active positions and the follow up adjustments for our learning.
Good morning, Dave. Thank you for your time and thoughts on the market. I definitely see the bull flag on the SPY right now but can you talk about bull flags on the SPY where the price action gaps up to start each day making the higher highs but then trades down for most of the day. Do you find that these tend to only go to the previous high or have any impact on reaching the flag target?
Thank you!
Steve
Dave
Thanks for all your efforts with your blog. I had missed reading it for a few weeks and when I looked at it, there were the video tutorials. A great addition!! Thanks so much for doing this. The ones I have viewed are about 30 mins and this seems like an excellent length.
Thanks again and good trading
Mike
Dave,
Great video, I love it when you say when, DIA hit the target
move on to another stock and deploy your capital there until
Dia set up for another trade and don't look back if it keeps going higher
just focus on the setup
Cheers
Mike
Amazing Videos - Love them...Thanks for your teaching and insights
Don W...trade followup an important factor over time...DJ
after close video last night is replaced by this morning's video, I think. Can you please check? :-)
Steve...SPY action is very typical in consolidation...this flag is morphing into a pennant...based on trend and a pennant being a short-term trend continuation pattern also...seems likely to ultimately resume with trend similar to the consolidation of DIA twice in July that led to trend continuation...DJ
Mike...you're welcome and thanks for watching...DJ
Michael...thank you for reiterating an important part of focused, disciplined trading...I love when a correct principle is recognized...DJ
Jun...I'm showing it was still there...sometimes a post rotates off the first page and needs to be accessed from the left hand menu post or the older posts link at the bottom of the page...let me now if it is still not showing up...DJ
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