After the close Review of Tuesday’s action…DIA, QQQ, SPY, IWM, VIX, bull flag DIA, breakout QQQ, which breakout trade to take…comparing different setups, MU, AAPL, CCL, ADBE, MCHP, SWKS, AMAT, MNST, bull flag GPRO…posted 11:01 pm ET
DIA and SPY bull
flag bounce.
QQQ horizontal resistance breakout setup.
IWM pullback towards sideways channel support.
Five sectors were higher and one unchanged led by utilities
XLU +0.56% and staples XLP +0.51%.
SPY down .03 at 246.51 on 55.1 million shares, 2%
below avg. Flat on lower volume.
VIX down .29 at 12.04.
Oil up .21 to 47.71
TLT down .53 at 125.25…on 7.4 million shares, 5% above avg. Down on rising
volume.
AXP +1.54% and AAPL +1.09% led
the DJIA, 16 advancers.
SYF +4.55%, RRC
+4.08% and
SWN +2.90% led the SPX.
WYNN +6.41%, ISRG +2.16%, ADP +1.72%, and MYL +1.69% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
DIA, QQQ
Down:
SPY, IWM
Breadth weakened
on Tuesday as
decliners led 1,843 to 1,052 on the NYSE and led 1,908 to 926 on the NASDAQ.
The SPY MFC green
line is at 62.9,
defensive.
Uptrend
sectors: XLK,
XLU,
Neutral
sectors: XLP, XLF, XLY, XLRE, XLE, XLV,
XLB, XLI
Down
trend sectors:
Intermediate-term
trending stocks: PYPL, ADBE, NVDA, FB, JD, ATVI, EA, BA, MCD,
V, CCL, RCL, ALGN, SQ, MOMO, CC, BZUN, AABA, TTWO, PGR, TRU, LYV, ALL, TAL,
BABA, EDU, SHOP, EXPE, MAR,
42 of 100 NDX stocks closed
higher on Tuesday.
47
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
FISV, WYNN,
Moving Below 30 DMA = 3
FAST, TSCO, VOD,
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Up
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4 comments:
3 excellent videos today! Much appreciated!
Dave - this new format is fantastic! Since you are the maestro of your blog you can pick the stocks and just go right to the technical analysis. As entertaining and informative as your prior 10 years were, this is far more intense, focused and actionable, even real-time when you post your one line updates during market hours.
So now I use 1.5x playback speed, and can even listen twice, and just update my "Dave" watchlist with the current symbols that catch my eye. GREAT comment that we don't have to trade everything - your repetition of the methodology applies to all setups, and when a pattern clicks for me, I just add it to the list.
Hope you are having as much fun as we are on Chart Signals! thanks for your generosity, dedication, and really unique viewpoints based on your incomparable experience. John R
Morning coffee and a Dave Johnson video, great way to start the day. Thanks Dave for another great video
I concur with John R. The percentage return feature on the projected move when choosing one stock over another switched on a light bulb with me. Always learning. Your videos challenge us. They are making me a better trader. Thanks Dave
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