After the Close Review of Monday’s market action…INDU, SPX, NDX, RUT, QQQ, SPY, DIA, IWM, $VIX,
ADBE, ADSK, COST, DLTR, GS, AXP, ADI, AMAT, CSX and more setups …11:11 pm PST
The DJIA closed at 26,214, a new all-time
closing high, up 142 points on strength in GS, HD, V and MSFT. Monday was the fourth close above 26,000, and the twelveth close
above 25,000. The SPX, NDX and RUT each made a new all-time
closing high on Monday.
Nine sectors were higher on Monday, led by energy XLE +2.16% and
discretionary XLY +1.11%.
SPY up 2.28 at 282.69 on 91.3 million shares, 8% above average volume. Up
on lower volume.
VIX down .24 at 11.03
Oil up .47 to 63.94
TLT up .12 at 123.18…on
8.9 million shares, 1% below average volume. Up on lower volume.
NKE +4.84% and GS +2.11%, led
the DJIA, 23 advancers.
FE +10.37%, HAL
+6.40%, and
TRIP +4.94%, led the SPX.
WYNN +8.68%, NFLX
+3.23%, EBAY +2.99%,
BMRN +2.91%, and AMZN +2.53%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
QQQ, SPY, DIA, IWM
Down:
Breadth weakened on Monday, as advancers led 1,845 to 1,047 on the NYSE and led 1,628 to 1,263 on the NASDAQ.
The SPY MFC green
line is in the
upper zone at 95, bullish.
Uptrend
sectors: XLB,
XLE, XLY, XLI, XLF, XLP, XLK, XLV,
Neutral
sectors: XLRE,
Down
trend sectors: XLU,
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… BA, CAT, MAR, V, CBOE, IBKR, TRU, WYN,
MCD, WYNN, ADBE, PYPL, ANET, RNG, NVDA, ISRG, VRSN, CDNS, AA, WUBA, TAL, EDU,
FCAU, LRCX, CC, WB, MU, LYV, FB, A, TTWO, AABA, BABA, CCL, RCL, SHOP, ATVI, SQ,
RACE, ALGN,
84 of 100 NDX stocks closed
higher on Monday.
86
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
BMRN, FAST, VOD,
Moving Below 30 DMA = 3
AVGO, HAS, HOLX,
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Up
2 comments:
Thank you Dave. Wonderful recap, excellent drawing, perfect inoculation booster for all who watch.
Coach Dave you are speaking about me!!! I also thought after a big run that an underline could not go any higher. As of last month, I stopped thinking that way and am now having the best trading month of life!!!
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