Tuesday, August 15, 2017

Pause Day Holds Nicely After Strong Trend Day on Monday...Breakout Setups...



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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
© 2017



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 sectorsXLK, 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:

Unknown said...

3 excellent videos today! Much appreciated!

John R said...

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

J. A. Bruhn said...

Morning coffee and a Dave Johnson video, great way to start the day. Thanks Dave for another great video

Don said...

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