Monday, July 16, 2018

Financials Lead, Strong BAC EPS, on Light Volume Range Day...NFLX Gaps Down After-Hours Drags QQQ, Tech Stocks Lower...



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Two sectors were higher on Monday, led by financial XLF +1.78% and discretionary XLY +0.25%.

The DJIA, closed up 44 points at 25,064, led by strength in BA, GS, JPM, and TRV.  This the second close above 25,000 since June 15.

SPY down .25 at 279.34, on 48.2 million shares, 31% below average volume. Down on similar volume
VIX up .65 at 12.83
Oil down 2.58 at 68.00
TLT down .51 at 122.21 on 5.5 million shares.

JPM +3.97%, GS +2.22%, led the DJIA, 12 advancers, -8.
VFC +4.67%, BAC +4.31% and C +3.67%, led the SPX.

MELI +4.78%, CSCO +1.72%, BIIB +1.31%, and NFLX +1.18%, led the NDX.

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

Up:  DIA,
Down: SPY, QQQ, WM,

Breadth weakened on Monday, as decliners led 1,917 to 969 on the NYSE and led 1,735 to 1,148 on the NASDAQ

The SPY MFC green line is in the upper zone at 94, bullish

Uptrend sectorsXLU, XLRE, XLV, XLY, XLK, XLE,
Neutral sectors: XLP, XLB, XLF, XLI,
Down trend sectors:

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up

23 of 100 NDX stocks closed higher on Monday.


70 NDX stocks are above their 30 DMA.  COST, FB, NFLX, FOXA, EA, AMGN, KHC, REGN, CHTR, HAS, MDLZ, MNST, TMUS, HOLX, HSIC, NTES, CTSH, ALXN, ISRG, AMZN, ATVI, CMCSA, CTRP, GILD, IDXX, INTU, SHPG, TTWO, BMRN, CELG, ILMN, VRTX, CDNS, CHKP, EXPE, FISV, ESRX, QRTEA, XRAY, BIIB, CA, CTAS, FB, GOOGL, MELI, ORLY, PAYX, PYPL, SYMC, VRSK, WDAY, CTXS, MSFT, BIDU, ULTA, SNPS, FAST, AAPL, ADBE, ADP, ADSK, ALGN, CERN, DLTR, MXIM, QCOM, STX, SWKS, TXN, WBA,


NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 0

Moving Below 30 DMA = 5
DISH, INCY, LBTYA, PCAR, ROST,

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,


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2 comments:

Devoir said...

Interesting to see which stocks pulled back today... vix not much action

Dave Johnson said...

Devoir...VIX indicating fear continues to fall, suggesting recent up trend will continue...QQQ at all time high, but SPY and IWM still have to get through recent resistance...Dave