After the Close Review of Monday’s market action… SPY, $VIX, DIA, QQQ, IWM, MU, SQ, ADBE, NFLX,
TXN, AMZN, ADSK, INTC, NVDA, XLK, XLF more great setups …10:48 pm PST
Futures moved up overnight and after an early
morning pullback QQQ, DIA, SPY and IWM soared following a support bounce late
morning. QQQ and IWM are support bounces in ascending
triangles and SPY and DIA are sideways channel bounces.
The DJIA, closed up 669 points at 24,202, led by strength in GS, BA, AAPL, MSFT, UNH, CAT, MMM, HD,
IBM, UTX, V, TRV, JPM, INTC and MCD.
All ten sectors were higher on Monday, led by XLK +3.87%, and
financial XLF +3.39%.
SPY up 7.06 at 265.11 on 141.4 million shares, 30% above average
volume. Up on lower volume.
VIX down 3.84 at 21.03
Oil down .25 to 65.49
TLT down .46 at 119.71 on
8.2 million shares.
INTC +6.32%, AAPL
+4.75% led the DJIA, 29 advancers.
LOW +6.60%, ADI
+6.17% and
LRCX +6.08%, led the SPX.
MSFT +7.57%, ADBE
+6.46%and
NFLX +6.45% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up: QQQ, DIA, SPY, IWM,
Down:
Breadth strengthened
on Monday, as advancers led 2,251
to 678 on the NYSE and led 2,072 to 872 on the
NASDAQ.
The SPY MFC green
line is pointed
down at 50,
defensive.
Uptrend
sectors: XLRE,
Neutral
sectors: XLY, XLF, XLV, XLI, XLB, XLE, XLU,
XLK
Down
trend sectors: XLP,
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… ADBE, MU, SQ, RNG, IBKR, SHOP, BA, NVDA,
RACE, VRSN, ATVI, WB, V, ANET, ISRG, TAL, EA, EBAY, LYV, CAT, MAR, ALGN, CCL,
RCL, TRU, WYN, PYPL, A, AABA, BABA, FCAU, FB, CBOE, TTWO, WYNN, AA, WUBA, EDU, CC,
98 of 100 NDX stocks closed
higher on Monday.
35
NDX stocks are above their 30
DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 24
ADI, ALGN, AMAT, AMZN,
ASML, CSCO, CTAS, CTRP, CTXS, EA, FOXA, IDXX, ILMN, INTU, JBHT, LBTYA, MSFT,
NVDA, SBUX, SIRI, ULTA, WDAY, WDC, XLNX
Moving Below 30 DMA = 0
The
intermediate and long-term trends are still up. The three-month trend is sideways. The eight-day trend is down.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market Trend: Down
1 comment:
this could be teh dead cat bounce i mentioned before. the result is rsi will be higher on the next lower low if it is made. that will be divergence and add evidence to the end of the wave 4 bottom.
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