Tuesday, August 28, 2018

SPY, QQQ, IWM with More New Highs...



© 2018

SPY, QQQ and IWM closed at all-time closing highs for the second straight day.  DIA closed less than $2.00 below its all-time closing high of 262.58 on Jan 26.

SQ, AAPL, AMZN, ALGN, and VRSK hit new highs on Tuesday. 


Four sectors were higher on Tuesday, led by real estate XLRE +1.22% and discretionary XLY +0.20%.

The DJIA, closed up 14 points at 26,064, led by strength in AAPL, WMT, UNH, UNH and MMM.  This is the thirtieth third consecutive close above 25,000 since June 15 and the second close above 26,000 since Feb 1.

SPY up .14 at 289.92, on 46.9 million shares, 20% below average volume. Up on lower volume.
VIX up .34 at 12.50 
Oil down .39 at 68.53
TLT down .73 at 120.86 on 4.9 million shares. 

WMT +1.62%, AAPL +0.81%, led the DJIA, 12 advancers, -14.
PCG +4.72%, COTY +4.70% and JWN +2.31%, led the SPX.
QCOM +3.62%, AAL +2.96%, XLNX +2.35%, and INCY +2.06%, led the NDX.

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

Up: QQQ, IWM, SPY, DIA,
Down:

Breadth weakened on Tuesday, as decliners led 1,481 to 1,362 on the NYSE and led 1,505 to 1,421 on the NASDAQ

The SPY MFC green line is in the upper zone pointed up at 93 bullish

Uptrend sectorsXLV, XLP, XLY, XLK, XLU, XLRE, XLI
Neutral sectors: XLF, XLE, XLB,
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 sideways.

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

58 of 100 NDX stocks closed higher on Tuesday.


72 NDX stocks are above their 30 DMA.  COST, AMGN, HAS, HSIC, ISRG, AMZN, GILD, CELG, CHKP, CA, CTAS, ORLY, CTXS, FAST, AAPL, DLTR, QCOM, WBA, PCAR, ROST, XLNX, CSX, CERN, SBUX, CMCSA, KLAC, ILMN, VRSK, SNPS, ADBE, CSCO, PAYX, TMUS, WDAY, DISH, FISV, ADP, TTWO, ESRX, MYL, JBHT, INCY, REGN, AAL, ADSK, CDNS, MXIM, NVDA, ADBE, ADI, IDXX, MSFT, PYPL, STX, INTU, ALGN, ATVI, CHTR, EBAY, GOOGL, MELI, NFLX, SHPG, TXN, VRTX, EXPE, SIRI, SYMC, AVGO, MNST, MU, ULTA,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 4
AVGO, MNST, MU, ULTA,

Moving Below 30 DMA = 1
MDLZ,


Intermediate-term trending stocks
ADBE, ETFC, MA, V, ISRG, WIX, NDAQ, VRSN, COP, CRM, NTAP, RNG, SQ, ALGN, GRUB, AKAM, CDNS, FISV, BA, MU, CMA, HRS, SHOP, EL, NVDA, CME,
MAR, ANET, KORS, IBKR, RACE, WYNN, TAL, AA, WUBA, FCAU,

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