Monday, January 8, 2018

QQQ, SPY, IWM, All-time Record High Close as DJIA Drifts 12 Points Lower...




After the Close Review of Monday’s market action…QQQ. SPY, IWM, INDU, DIA, CAT, WMT, NDX, AMZN, NVDA, FB, TSLA, CSCO, BIDU, ISRG, PCLN, AMAT, CSX, STX, XLU, XLRE and more setups …10:40 pm PST
© 2018


Record highs: BA, CAT, MSFT, UTX, V, WMT, AMZN, CSX, FB, GOOGL, INTU, JBHT, MELI, MSFT, NFLX, NVDA, TXN


Eight sectors were higher on Monday, led by utilities XLU +0.94% and real estate XLRE +0.68%.


SPY up .50 at 273.92 on 57.3 million shares, 31% below average volume.  Up on lower volume.
VIX up .30 at 9.52
Oil up .31 to 61.90
TLT down .08 at 125.63…on 8.5 million shares, average volume.  Down on lower volume.


CAT +2.51% and WMT +1.48%, led the DJIA, 14 advancers.
KSS +4.67%, ALB +4.35%, and WU +4.32%, led the SPX.
STX +7.13%, TSLA +6.26%, ISRG +3.39%, ALGN +3.25%, and NVDA +3.06%, led the NDX.



Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, IWM,
Down: DIA,

Breadth weakened on Monday, as advancers led 1,711 to 1,212 on the NYSE and decliners led 1,461 to 1,435 on the NASDAQ.

The SPY MFC green line is in the upper zone at 98, bullish.

Uptrend sectorsXLB, 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… CAT, MAR, V, BA, WYNN, IBKR, TRU, CBOE, VRSN, WYN, MCD, AA, TAL, FCAU, CCL, RCL, CC, EDU, ADBE, PYPL, MU, LYV, FB, A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, NVDA, SQ, RACE, ALGN,  WB, LRCX,


65 of 100 NDX stocks closed higher on Monday.

91 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2                            
HAS, TSLA,

Moving Below 30 DMA = 3
REGN, SHPG, WYNN



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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3 comments:

Kempington said...

Thank you Dave.

Kempington said...

Just looking at XLU stocks. Soooo many MACD bullish divergence to choose from!!

Dave Johnson said...

Kempington...you're welcome...when the sector is bottoming and forming a divergence, it's pretty common for a lot of the stocks in the sector to do the same...good eyes...Dave