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

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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

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