Q2 Comes to an End as Stocks Rally and Pullback Following Canadian Tariff Pronouncement...

© 2018

SPY, DIA, QQQ and IWM closed lower for the week.  Buyers started to take the market higher on Tuesday, Thursday and Friday and were met with selling that occurred after global trade developments occurred.  On Friday afternoon Canada announced retaliatory tariffs on US imports including strawberry jam, toilet paper, playing cards and ball-point pens.  Smucker’s SJM and Kimberly Clark KMB pulled back, as did the broad market following the Canadian announcement

2018 is half over.  Notwithstanding the 3%+ pullback in the broad market in the past three weeks, the opportunity to earn positive returns has been available during the first six months of 2018.

YTD Performance

QQQ +10.61%

IWM +7.67%

SPY +2.52%

DIA -0.97%

Top Sectors

XLY +11.37%

XLK +9.35%

XLE +6.55%

The DJIA, closed up 55 points at 24,271, led by strength in NKE, AXP and BA.

Seven sectors were higher on Friday, led by energy XLE +0.62% and materials XLB +0.35%.

SPY up .39 at 271.28, on 97.5 million shares, 30% above average volume. Up on higher volume

VIX down .76 at 16.09

Oil up .97 at 74.25

TLT down .42 at 121.72 on 11.1 million shares.

NKE +11.13%, AXP +1.06%, led the DJIA, 16 advancers -9.

WFC +3.37%, IPGP +3.19% and FCX +2.80%, led the SPX.

VRTX +15.16%, CELG +3.60%, BMRN +3.35%, and NTES +2.45%, led the NDX.

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

Up: QQQ, DIA, SPY,

Down: IWM

Breadth was stable on Friday, as advancers led 1,691 to 1,201 on the NYSE and led 1,596 to 1,348 on the NASDAQ

The SPY MFC green line is pointed down at 36, short-term bearish. 

Uptrend sectors:  XLY, XLK, XLRE, XLE, XLU,

Neutral sectors: XLV, XLF, XLI, XLB, XLP

Down trend sectors:

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

67 of 100 NDX stocks closed higher on Friday.

39 NDX stocks are above their 30 DMA.  COST, FB, NFLX, FOXA, ALGN, EA, AMGN, KHC, REGN, ROST, TSLA, CHTR, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, CTSH, ALXN, ISRG, AMZN, ATVI, CMCSA, CTRP, GILD, IDXX, INTU, PAYX, SHPG, TTWO, BMRN, CELG, GOOGL, ILMN, MELI, VRTX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 6

BMRN, CELG, GOOGL, ILMN, MELI, VRTX,

Moving Below 30 DMA = 2

ADP, CHKP,

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

Add Comments here

Buyers Return at Support...

© 2018

SPY open slightly lower after weekly jobless claims and Q1 revised GDP missed estimates slightly.  After trading in a range for about an hour, buyers stepped and the SPY started to rise finally finishing near Monday’s closing level.  

QQQ and IWM are in a bull flag price pattern.  

Other bull flags include:  AMD, AMZN, BBY, CRM, CTRP, EA, FB, HD, TWTR. 

The DJIA, closed up 98 points at 24,216, led by strength in BA, GS, IBM, V and JPM.

Eight sectors were higher on Thursday, led by technology XLK +1.22% and real estate XLRE +0.99%.

SPY up 1.54 at 270.89, on 76.6 million shares, 4% above average volume. Up on lower volume

VIX down 1.06 at 16.85

Oil up .98 at 73.28

TLT up .03 at 122.14 on 7.1 million shares.

VZ +3.14%, IBM +1.86%, led the DJIA, 25 advancers.

MKC +8.40%, ACN +5.90% and SCG +4.65%, led the SPX.

SHPG +4.43%, MELI +4.01%, TTWO +3.60%, and ATVI +3.53%, led the NDX.

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

Up: QQQ, SPY, DIA, IWM

Down:

Breadth strengthened on Thursday, as advancers led 1,758 to 1,147 on the NYSE and led 1,551 to 1,347 on the NASDAQ

The SPY MFC green line is pointed down at 42, short-term bearish. 

Uptrend sectors:  XLY, XLK, XLRE, XLE, XLV, XLU,

Neutral sectors: XLF, XLI, XLB, XLP

Down trend sectors:

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

74 of 100 NDX stocks closed higher on Thursday.

35 NDX stocks are above their 30 DMA.  COST, FB, NFLX, FOXA, ALGN, EA, AMGN, KHC, REGN, ROST, TSLA, CHTR, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, CTSH, ALXN, ISRG, ADP, AMZN, ATVI, CHKP, CMCSA, CTRP, GILD, IDXX, INTU, PAYX, SHPG, TTWO,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 12

ADP, AMZN, ATVI, CHKP, CMCSA, CTRP, GILD, IDXX, INTU, PAYX, SHPG, TTWO,

Moving Below 30 DMA = 2

ESRX, WBA

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

Add Comments here

Rally Fades as Stocks Fall Back to Support...

© 2018

The DJIA, closed down 165 points at 24,117, led by weakness in MCD, MMM, JPM, UNH, IBM and MSFT.

Two sectors were higher on Wednesday, led by energy XLE +1.34% and utilities XLU +0.48%.

SPY down 2.25 at 269.35, on 105.1 million shares, 44% above average volume. Down on higher volume

VIX up 1.99 at 17.91

Oil up 1.62 at 72.30

TLT up 1.14 at 122.11 on 8.1 million shares.

CVX +1.48%, XOM +1.33%, led the DJIA, 4 advancers.

CXO +4.62%, FCX +16.90% and APA +3.89%, led the SPX.

REGN +2.87%, FOXA +2.35%, ESRX +1.16%, and TSLA +0.73%, led the NDX.

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

Up:

Down: DIA, SPY, QQQ, IWM

Breadth weakened on Wednesday, as decliners led 2,093 to 817 on the NYSE and led 2,348 to 595 on the NASDAQ

The SPY MFC green line is pointed down at 48, short-term bearish. 

Uptrend sectors:  XLY, XLK, XLRE, XLE, XLV

Neutral sectors: XLF, XLI, XLB, XLU, XLP

Down trend sectors:

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

5 of 100 NDX stocks closed higher on Wednesday.

25 NDX stocks are above their 30 DMA.  COST, FB, NFLX, FOXA, ALGN, EA, AMGN, ESRX, KHC, REGN, ROST, TSLA, CHTR, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, WBA, CTSH, ALXN, ISRG,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 19

ADI, ADP, AMZN, ATVI, BMRN, CA, CDNS, CMCSA, CTAS, CTRP, EXPE, FISV, GILD, GOOGL, IDXX, JD, ORLY, PAYX, TTWO,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

Add Comments here

IWM Leads Rally after Monday's Selloff...Bull Flags Flying...

© 2018

COST made another all-time high before closing lower.

IWM, QQQ, SPY and DIA all formed a bullish harami on Tuesday and are bounce setup pattern in either an uptrend or sideways trend.

SPY and IWM are in a bull flag price pattern.  

Other bull flags include:  AMD, ATVI, ALGN, BBY, CRM, CTRP, EA, FB, HD, TWTR. 

The DJIA, closed up 30 points at 24,283, led by strength in AAPL, V, CVX, MCD and UTX.

Seven sectors were higher on Tuesday, led by energy XLE +1.26% and discretionary XLY +0.72%.

SPY up .60 at 271.60, on 137.8 million shares, 5% below average volume. Up on lower volume

VIX down 1.41 at 15.92

Oil up 2.49 at 70.68

TLT up .17 at 120.97 on 5.4 million shares.

CVX +1.26%, AAPL +1.24%, led the DJIA, 17 advancers.

GE +7.76%, CXO +5.06% and LEN +4.86%, led the SPX.

NFLX +3.88%, MELI +3.50%, TSLA +2.70%, and MU +2.69%, led the NDX.

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

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Tuesday, as advancers led 1,750 to 1,147 on the NYSE and led 1,690 to 1,218 on the NASDAQ

The SPY MFC green line is pointed down at 60, defensive. 

Uptrend sectors:  XLY, XLK, XLRE, XLE, XLV

Neutral sectors: XLF, XLI, XLB, XLU, XLP

Down trend sectors:

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

50 of 100 NDX stocks closed higher on Tuesday.

44 NDX stocks are above their 30 DMA.  ADP, COST, CDNS, AMZN, FB, NFLX, ORLY, EXPE, FOXA, TTWO, ATVI, ALGN, PAYX, ADI, EA, GOOGL, FISV, AMGN, ESRX, CTRP, IDXX, KHC, REGN, ROST, TSLA, GILD, JD, CHTR, CMCSA, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, WBA, CTSH, BMRN, ALXN, CA, CTAS, ISRG,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

CA, CTAS, ISRG,

Moving Below 30 DMA = 4

AVGO, INCY, LBTYA, VRTX,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

Add Comments here

Stocks Retreat Following Harsh Trade Talk...

© 2018

COST made another all-time high.

Stocks opened lower and sold off on heavy volume following harsh comments from the President on the need for trade barriers to come down.

SPY and IWM are in a bull flag price pattern.  

Other bull flags include:  AMD, ATVI, ALGN, CTRP, EA, FB, HD, TGT, TWTR, UNH. 

The DJIA, closed down 328 points at 24,252, led by strength in BA, MCD, GS, V, UNH, CAT and AAPL.

Two sectors were higher on Monday, led by utilities XLU +1.66% and staples XLP +0.50%.

SPY down 3.74 at 271.00, on 137.8 million shares, 91% above average volume. Down on higher volume

VIX up 3.56 at 17.33

Oil down 1.09 at 68.19

TLT up .27 at 120.80 on 8.3 million shares.

WMT +1.95%, AXP +1.35%, led the DJIA, 4 advancers.

CPB +9.40%, SCG +3.76% and FE +3.16%, led the SPX.

MDLZ +0.36%, COST +0.31%, KHC +0.17%, and AMGN +0.11%, led the NDX.

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

Up:

Down: SPY, DIA, IWM, QQQ,

Breadth weakened on Monday, as decliners led 2,232 to 690 on the NYSE and led 2,281 to 681on the NASDAQ

The SPY MFC green line is pointed down at 68, defensive. 

Uptrend sectors:  XLY, XLK, XLRE, XLE, XLV

Neutral sectors: XLF, XLI, XLB, XLU, XLP

Down trend sectors:

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

7 of 100 NDX stocks closed higher on Monday.

46 NDX stocks are above their 30 DMA.  ADP, COST, CDNS, AMZN, FB, NFLX, ORLY, EXPE, FOXA, TTWO, ATVI, AAPL, ALGN, PAYX, ADI, EA, GOOGL, FISV, AMGN, ESRX, WBA, INCY, CTRP, IDXX, AVGO, KHC, REGN, ROST, TSLA, GILD, JD, CHTR, CMCSA, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, WBA, CTSH, BMRN, ALXN, VRTX, LBTYA,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 17

ADSK, ASML, BIIB, CA, CSX, CTAS, ILMN, INTU, ISRG, JBHT, MSFT, MXIM, PYPL, QCOM, SIRI, STX, VRSK,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down