Higher Open, Continued Rally, Late Selloff...Futures Up after-hours as Xi to Open Chinese Markets...

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Futures rise overnight following indications that Trump felt that China would right moves regarding trade.  The SPX rally of almost 50 points from Friday’s close, went sideways from noon to 3 pm EDT, and broke support following a report that FBI raided the office of the President’s personal lawyer.  The SPX closed up 8.69 points.

The DJIA, closed up 46 points at 23,979, led by declines in MRK, GS, IBM, AAPL, V and JNJ. (70 points) 

Six sectors were higher on Monday, led by healthcare XLY +0.99% and technology XLK +0.78%.

SPY up 1.28 at 261.00 on 104.7 million shares, 8% below average volume. Up on lower volume.

VIX up .28 at 21.77

Oil up 1.34 to 63.29

TLT up .20 at 121.30 on 6.3 million shares.

MRK +5.25%, INTC +1.56%, led the DJIA, 16 advancers.

LUK +11.58%, NKTR +11.27% and MON +6.19%, led the SPX.

BMRN +3.47%, NTES +2.85%, and AVGO +2.56%, led the NDX.

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

Up: QQQ, SPY, DIA IWM

Down:

Breadth strengthened on Monday, as decliners led 1,495 to 1,355 on the NYSE and advancers led 1,482 to 1,358 on the NASDAQ.

The SPY MFC green line turned up today and is at 30, bullish. 

Uptrend sectors:  XLRE, XLU,

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

Down trend sectors: XLP,

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before considering entry… ADBE, IBKR, ETFC, EL, TPR, WIX, NDAQ, WYNN, MU, VRSN, ANET, AKAM, COP, CRM, HRS, KORS, NTAP,

SQ, CMA, CME, RNG, AA, WUBA, FCAU, MA, V, ALGN, TAL,

BA, DLTR, NVDA, MAR, ISRG, WB, RACE, SHOP,

74 of 100 NDX stocks closed higher on Monday.

9 NDX stocks are above their 30 DMA.  WYNN, SHPG, ADBE, HSIC, SBUX, VRSK, DLTR, ULTA, VOD,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 1

ROST,  

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

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

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