After the Close Review of Tuesday’s market action…IWM, DIA, SPY, QQQ, AAPL, MU, AVGO, OLED,
CRUS, LITE, FNSR, XLK, XLP, XRT, KSS, M, XLE, RRC, HES, NBL, AXP, BA, INTC,
NKE, TXN, GOOGL, MSFT and more…bull flag time continues…11:03 pm PST
Six sectors were higher on Tuesday, led by energy XLE +0.88% and
real estate XLRE
+0.52%.
SPY down .07 at 267.19 on 45.2 million shares, 43% below average volume.
Down on lower volume.
VIX up .35 at 10.25
Oil up 1.45 to 59.80
TLT up .37 at 125.14…on
3.1 million shares, 58% below average volume. Up on lower volume.
HD +1.19%, and WMT +0.97%, led
the DJIA, 16 advancers.
FOSL +8.61%, KSS
+5.98%, and
M +4.60%, led the SPX.
REGN +1.69%, MELI
+1.16%, NVDA +1.11%,
SIRI +0.93%, and ORLY +0.89%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
IWM
Down:
DIA, SPY, QQQ,
Breadth strengthened
slightly on Tuesday, as advancers led 1,622
to 1,255 on the NYSE and decliners led 1,617 to 1,272 on the NASDAQ.
The SPY MFC green
line is in the
upper zone at 90, bullish.
Uptrend
sectors: XLB,
XLE, XLY, XLI, XLF, XLP, XLK, XLV,
Neutral
sectors: XLU, XLRE,
Down
trend sectors:
Intermediate-term trending stocks: Many of these stocks have had significant
pull backs over the past month and it is appropriate to wait for the uptrend
to resume before considering entry… CAT, BA, WYNN, V, MAR, IBKR, TRU, CBOE,
VRSN, MCD, AA, LYV, FCAU, CCL, RCL, SQ, CC, EDU, ADBE, PYPL, ALGN, MU, FB, A,
ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, WB, LRCX, NVDA,
RACE, TAL,
42 of 100 NDX stocks closed
higher on Tuesday.
58 NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 1
REGN,
Moving Below 30 DMA = 5
AAPL, ATVI, ILMN, LVNTA,
TSLA,
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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