Tuesday, November 27, 2018

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 24,748led 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 TrendUp


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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