SPX Rallies to a Positive November...Bearish Talking Heads Talk Looks Cheap, As Big Money Action Speaks Louder Than Words...

© 2018

SPY, DIA and IWM finished higher for the month of November after a lower October.  Optimism of potential progress at the G-20 meeting in the U.S./China trade war seemed to lift the market during the last two hours of trading on Friday.

Chart Signals was disappointed this week when a number of talking heads referred to the current market environment as a bear market.  Sadly, when a broad market long term up trend, is referred to as a bear market it shows ignorance, disconnection from reality or a more sinister effort to scare viewers, listeners or readers into an emotional state by commentators.

Whatever their motive “bear market” talking heads again prove their talk is cheap and that institutional action speaks louder than words.

The DJIA, closed up 199 points at 25,538, led by strength in CAT, HD, BA, MMM and IBM.  This is the third close above 25,000 since Nov 19.

Nine of eleven sectors were higher on Friday, led by materials XLB +0.72% and energy XLE +0.65%.

SPY up 1.67 at 275.65 on 98.2 million shares, 12% below average volume. Up on higher volume.

VIX down .72 at 18.07 

Oil down .54 at 50.72

TLT up .43 at 115.33 on 9.1 million shares. 

CAT +4.18%, INTC +3.38%, led the DJIA, 24 advancers, +12

ABBV +4.85%, SIVB +4.55% and RJF +4.54%, led the SPX.

WDAY +12.87%, AAL +4.53%, NVDA +3.86%, and GILD +3.23% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: DIA, QQQ, SPY, IWM,

Down:

Breadth strengthened on Friday, as advancers led 1,611 to 1,347 on the NYSE and led 1,663 to 1,419 on the NASDAQ

The SPY MFC green line is pointed up at 56 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLP,

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

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

65 of 100 NDX stocks closed higher on Friday.

76 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, ASML, BKNG, COST, CTSH, EBAY, FISV, GOOGL, ISRG, PYPL, REGN, SNPS, TMUS, DLTR, INTU, LBTYA, BIDU, CDNS, CHKP, EXPE, GILD, IDXX, MU, STX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 8

BIDU, CDNS, CHKP, EXPE, GILD, IDXX, MU, STX,

Moving Below 30 DMA = 3

BMRN, HAS, MAR,

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Wednesday's Broad Rally Pauses on Thursday, Trades Above S1

© 2018

SPY opened lower on Thursday and traded in a range that stayed above the S1 level of Wednesday’s large white candle.  

The DJIA, closed down 27 points at 25,338, led by weakness in GS, V, HD, AXP and UTX.  This is the second close above 25,000 since Nov 19.

Seven of eleven sectors were higher on Thursday, led by materials XLB +0.72% and energy XLE +0.65%.

SPY down .60 at 274.58 on 82.3 million shares, 27% below average volume. Down on lower volume.

VIX up .30 at 18.79 

Oil up .95 at 51.26

TLT up .45 at 114.45 on 7.2 million shares. 

BA +2.72%, PFE +1.36%, led the DJIA, 12 advancers, -17

NLSN +4.02%, CXO +3.06% and GE +2.58%, led the SPX.

DLTR +6.13%, MELI +3.53%, ATVI +3.02%, and QCOM +2.58% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up:  

Down: DIA, SPY, IWM, QQQ,

Breadth weakened on Thursday, as decliners led 1,556 to 1,376 on the NYSE and led 1,650 to 1,397 on the NASDAQ

The SPY MFC green line is pointed up at 45 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLP,

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

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

36 of 100 NDX stocks closed higher on Thursday.

71 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, MAR, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, ASML, BKNG, BMRN, COST, CTSH, EBAY, FISV, GOOGL, HAS, ISRG, PYPL, REGN, SNPS, TMUS, DLTR, INTU, LBTYA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

DLTR, INTU, LBTYA,

Moving Below 30 DMA = 8

BIDU, CDNS, CHKP, EXPE, INCY, JBHT, MU, STX,

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Stocks Soar After Fed Chair Indicates Rates Just Below Neutral...

© 2018

Stocks opened higher on Wednesday followed by range bound trading until Fed Chairman Powell indicated that interest rates were just below neutral reflecting a more dovish tone.  Stock blasted off at noon ET and kept rising into the close. Some market observers are now indicating the Fed will only raise rates once in 2019.

The DJIA, closed up 617 points at 25,366, led by strength in BA, UNH, AAPL, CAT and V.  This is the first close above 25,000 since Nov 19.

Ten of eleven sectors were higher on Wednesday, led by technology XLK +3.50% and discretionary XLY +2.95%.

SPY up 6.18 at 274.58 on 127.6 million shares, 12% above average volume. Up on higher volume.

VIX down .53 at 18.49 

Oil down 1.78 at 50.31

TLT down .56 at 114.45 on 7.8 million shares. 

CAT +4.95%, BA +4.86%, led the DJIA, 29 advancers, +8

CRM +10.27%, AA +7.73% and ABMD +6.77%, led the SPX.

ADBE +7.30%, ALGN +6.74%, AMZN +6.09%, and NFLX +6.01% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: QQQ, DIA, IWM, SPY,

Down:

Breadth strengthened on Wednesday, as advancers led 2,359 to 585 on the NYSE and led 2,383 to 666 on the NASDAQ

The SPY MFC green line is pointed up at 35 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLP,

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

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

92 of 100 NDX stocks closed higher on Wednesday.

76 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, MAR, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, INCY, LBTYA, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, WDC, ADBE, AMZN, ASML, BIDU, BKNG, BMRN, CDNS, CHKP, COST, CTSH, EBAY, EXPE, FISV, GOOGL, HAS, ISRG, JBHT, MU, PYPL, REGN, SNPS, TMUS,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 22

ADBE, AMZN, ASML, BIDU, BKNG, BMRN, CDNS, CHKP, COST, CTSH, EBAY, EXPE, FISV, GOOGL, HAS, ISRG, JBHT, MU, PYPL, REGN, SNPS, TMUS,

Moving Below 30 DMA = 2

LBTYA, WDC,

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SPX Pauses Before Resuming Monday's Rally...

© 2018

Stocks opened lower on Tuesday followed by a reversal to the upside in DIA, QQQ and SPY.

The DJIA, closed up 108 points at 24,748, led by strength in UNH, HD, JNJ, WBA and BA.  This is the fifth close below 25,000 since Oct. 30.

Eight of eleven sectors were higher on Tuesday, led by healthcare XLV +1.04% and staples XLP +0.89%.

SPY up.90 at 268.40 on 75.5 million shares, 33% below average volume. Up on lower volume.

VIX up .12 at 19.02 

Oil up .49 at 52.09

TLT up .13 at 115.01 on 5.9 million shares. 

VZ +2.50%, WBA +2.23%, led the DJIA, 21 advancers, -7

PCG +7.36%, AMD +4.83% and MCK +4.19%, led the SPX.

VRTX +4.81%, MXIM +4.16%, HSIC +3.33%, and MELI +2.96% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: DIA, QQQ, SPY,

Down: IWM

Breadth weakened on Tuesday, as decliners led 1,808 to 1,130 on the NYSE and decliners led 1,953 to 1,049 on the NASDAQ

The SPY MFC green line turned up today and is at 25 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLP,

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

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

59 of 100 NDX stocks closed higher on Tuesday.

56 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, MAR, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, ADSK, AMGN, HSIC, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, INCY, LBTYA, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, WDC,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 5

ALXN, CHTR, MSFT, VRTX, WDC,

Moving Below 30 DMA = 3

BMRN, HAS, SHPG,

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Broad Rally on Monday as QQQ, SPY, IWM Close Above Wednesday's High...Short-term Breakout...

© 2018

Stocks rallied broadly on Monday led by QQQ and SPY, following a light volume selloff in a half-day of trading on Friday. 

The DJIA, closed up 354 points at 24,640, led by strength in GS, UNH, BA, AXP and TRV.  This is the fourth close below 25,000 since Oct. 30.

All eleven sectors were higher on Monday, led by communication XLC +2.28% and technology XLK +2.26%.

SPY up 4.25 at 267.50 on 79.9 million shares, 30% below average volume. Up on higher volume.

VIX down 2.62 at 18.90 

Oil up 1.21 at 51.60

TLT down .26 at 114.88 on 6.5 million shares. 

AXP +3.73%, MSFT +3.30%, led the DJIA, 28 advancers, +20

NWL +8.19%, LB +6.74% and FOSL +6.68%, led the SPX.

WYNN +6.89%, TSLA +6.19%, JD +6.18%, and VOD +6.02% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, DIA, IWM

Down:

Breadth strengthened on Monday, as advancers led 1,893 to 1,038 on the NYSE and decliners led 1,824 to 1,227 on the NASDAQ

The SPY MFC green line is pointed down at 23 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLP,

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

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

92 of 100 NDX stocks closed higher on Monday.

54 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, MAR, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, SHPG, VOD, WDAY, ADSK, AMGN, HSIC, ADP, ADSK, AMGN, BMRN, CSCO, HAS, HSIC, ILMN, INCY, LBTYA, LRCX, MELI, SIRI, TXN, WYNN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 15

ADP, ADSK, AMGN, BMRN, CSCO, HAS, HSIC, ILMN, INCY, LBTYA, LRCX, MELI, SIRI, TXN, WYNN,

Moving Below 30 DMA = 0

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