NDX/QQQ Make New High Led by MU after Price Target Raised to 100...

After the Close Review of Monday’s market action… $INDU, $NDX, QQQ, MU, IWM, SPY, DIA, $VIX, NVDA, AAPL, BAC, JPM, MSFT, INTC more great setups …11:05 pm PST

© 2018

Stocks were mixed on Monday with the NDX/QQQ making a new all-time high led by MU which had an analyst price target raised from $55 to $100.

The DJIA, down 157 points to 25,178, led by weakness in BA, CAT, UNH, UTX and HD.  The DJIA closed above 25,000 for the twenty-ninth time this year.

Four sectors were higher on Monday, led by real estate XLRE +0.48%, and utilities XLU +0.43%.

SPY down .35 at 278.52 on 71.9 million shares, 47% below average volume.  Down on lower volume.

VIX up 1.14 at 15.78

Oil down .74 to 61.38

TLT up .68 at 118.59 on 5.8 million shares, 49% below average volume.  Up on lower volume.

GE +1.07%, and AAPL +1.07%, led the DJIA, 10 advancers.

NWL +6.11%, SWN +3.91%, and ADM +2.84%, led the SPX.

MU +8.76%, TSLA +5. 16%, AVGO +3.57%, CHTR +3.35% and WDC +3.32% led the NDX.

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

Up: QQQ, IWM,

Down: SPY, DIA

Breadth weakened on Monday, as advancers led 1,579 to 1,288 on the NYSE and led 1,719 to 1,160 on the NASDAQ.

The SPY MFC green line pointed up at 66, bullish. 

Uptrend sectors:  XLK,

Neutral sectors: XLY, XLF, XLV, XLI, XLB, XLE, XLRE,

Down trend sectors: XLP, 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… 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,

57 of 100 NDX stocks closed higher on Monday.

79 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7                            

BMRN, CHTR, COST, EXPE, GILD, TSLA, XRAY

Moving Below 30 DMA = 0

The intermediate and long-term trends are still up.  The two-month trend is sideways.  The seven-day trend is sideways.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

Add Comments here