SPY, QQQ, DIA Form Bullish Candle in Bull Flag Price Pattern...

© 2018

SPY formed a dragonfly doji, DIA and QQQ formed a hammer, in bull flag price pattern on Tuesday.  Watch for a potential bounce on Wednesday. 

SQ, AAPL, AMD, AMZN, COST, CSCO, NTAP, NVDA and V hit new highs on Tuesday. 

Three sectors were higher on Tuesday, led by financial XLF +0.49% and utilities XLU +0.45%.

The DJIA, closed down 12 points at 25,952 led by weakness in NKE, MMM, VZ and DIS.  This is the thirtieth seventh consecutive close above 25,000 since June 15.

SPY down .50 at 289.81, on 57.5 million shares, 3% below average volume. Down on lower volume.

VIX up .30 at 13.16 

Oil down .51 at 69.37

TLT down .96 at 120.03 on 18.3 million shares. 

HD +2.15%, BA +1.01%, led the DJIA, 12 advancers, -3.

AMD +11.48%, KSS +3.72% and JWN +3.45%, led the SPX.

ULTA +5.53%, ORLY +2.49%, ROST +1.99%, and QCOM +1.85%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down, bull flag pattern.

Up:

Down: DIA, SPY, QQQ, IWM

Breadth weakened on Tuesday, as decliners led 1,863 to 1,040 on the NYSE and led 1,674 to 1,278 on the NASDAQ

The SPY MFC green line is in the upper zone at 91 bullish. 

Uptrend sectors:  XLV, XLP, XLY, XLK, XLU, XLRE, XLI, XLF,

Neutral sectors: 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 up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

60 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

ATVI,

Moving Below 30 DMA = 3

CTSH, FOXA, WBA,

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,

Add Comments here