Breadth weakened on Monday as DIA, QQQ and SPY closed higher, while forming spinning tops on Monday following
horizontal breakouts on Thursday or Friday. Be prepared for a potential breakout test on each of these charts.
IWM made a new all-time intra-day high before closing
down 61 cents.
The DJIA, closed up 68 points at 24,899, led by strength in UNH, BA and WMT.
Four sectors were higher on Monay, led by energy XLE +0.69% and
healthcare XLV +0.66%.
SPY up .13 at 272.98 on 54.7 million shares, 36%
below average volume. Up on lower volume.
VIX up .28 at 12.93
Oil up .66 to 71.17
TLT down .63 at 118.60 on
4.9 million shares.
UNH +1.94%, WMT
+1.21%, led the DJIA, 19 advancers.
NWSA +4.22%, GPS
+4.08% and
TGT+3.77%, led the SPX.
SYMC +9.63%, XLNX +3.24%, WDC +2.94%, and QCOM +2.73%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up: DIA, QQQ, SPY,
Down:
IWM,
Breadth weakened on Monday, as decliners led 1,547 to
1,363 on the NYSE and led 1,600 to 1,302 on the NASDAQ.
The SPY MFC green
line is pointed
up and is at 90, bullish.
Uptrend
sectors: XLE,
XLK, XLRE, XLU
Neutral
sectors: XLF, XLY, XLV, XLI, XLB,
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 entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX,
NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN,
AKAM, SHOP,
BA, MU,
MAR, CMA, CME, ANET, HRS, KORS,
DLTR, WB,
EL, TPR,
56 of 100
NDX stocks closed higher on Monday.
70
NDX stocks are above their 30
DMA.
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
CTRP, VRTX, WBA,
Moving Below 30 DMA = 2
TSLA, VRSK,
The
6-month intermediate and long-term trends are still up. The three-month trend
is sideways. The ten-day trend is
sideways.
3-month Intermediate Term
Market Trend: Sideways
3-day Short Term Market Trend: Up
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