SPY, IWM Start 2018 with All-time New High Close...NDX Broad Rally as MU, NFLX, JD Jump...

After the Close Review of Tuesday’s market action…X, QQQ, IWM, SPY, DIA, TLT, VIX, XLE, XLY, XLB, XLK, XLV, XLI, XLF, NDX, AAPL, FB, AMZN, GOOGL, CMCSA, AVGO, NFLX, NVDA, MSFT, INTC and more charts and setups …11:12 pm PST

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Seven sectors were higher on Tuesday, led by energy XLE +1.65% and discretionary XLU +1.52%.

SPY up 1.91 at 268.77 on 86.6 million shares, 7% above average volume.  Up on lower volume.

VIX down 1.27 at 9.77

Oil up .27 to 60.37

TLT down 1.37 at 125.49…on 16.2 million shares, 95% above average volume.  Down on higher volume.

DIS +3.99%, and GE +3.04%, led the DJIA, 21 advancers.

FOSL +11.33%, AMD +6.81%, and AAP +6.42%, led the SPX.

INCY +6.53%, MU +6.20%, DISH +5.13%, BIIB +4.90%, and NFLX +4.75%, led the NDX.


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

Up: QQQ, IWM, SPY, DIA

Down:  

Breadth strengthened on Tuesday, as advancers led 1,841 to 1,117 on the NYSE and led 1,956 to 1,023 on the NASDAQ.

The SPY MFC green line is in the upper zone at 92, 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, 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,

88 of 100 NDX stocks closed higher on Tuesday.

73 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 26                           

AAPL, ADBE, AMGN, ASML, ATVI, AVGO, BIDU, BIIB, CELG, CTRP, DISH, EA, FB, GILD, IDXX, INCY, KLAC, MCHP, MXIM, NVDA, PCLN, REGN, SYMC, TSLA, TTWO, XRAY

Moving Below 30 DMA = 4

FISV, MDLZ, MNST, PAYX,

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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