SPY, QQQ, IWM, DIA, SMH Bull Flag Day 4...BA, CSCO, PYPL New Highs...

© 2019

Bull Flag Setups:  SPY, QQQ, IWM, DIA, SMH, ALGN, AMD, ASML, AVGO, INTC, JBHT, KLAC, LRCX, MAR, MU, MXIM, NXPI, PCAR, PEP, SBUX, TMUS, TXN, WDC, WYNN


The DJIA, closed down 69 points at 25,916, below 26,000 for the second day, led by weakness in UNH, CAT, AAPL, MMM and DWDP. 

Four of eleven sectors were higher on Thursday, led by utilities XLU +0.58% and staples XLP +0.48%.

SPY down .52 at 278.68 on 69.2 million shares, 12% below average volume. Down on higher volume.

VIX up .08 at 14.78

Oil up .27 at 57.25

TLT down .41 at 120.02 on 9.5 million shares. 

BA +1.04%, PFE +0.98%, led the DJIA, 14 advancers, +1

UHS +4.26%, LUV +4.07% and GCI +3.99%, led the SPX.

MNST +8.67%, JD +6.70%, WDC +3.63%, and TTWO +3.11% led the NDX.

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

Up:

Down: SPY, DIA, QQQ, IWM,

Breadth weakened on Thursday, as decliners led 1,568 to 1,316 on the NYSE and led 1,766 to 1,251 on the NASDAQ

The SPY MFC green line is in the upper zone at 92.8 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI, XLU, XLB,

Neutral sectors:  XLK, XLY, XLV, XLP, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

53 of 100 NDX stocks closed higher on Thursday.

81 NDX stocks are above their 30 DMA:  REGN, WDAY, ROST, LULU, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, INTU, MCHP, ADI, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, GOOGL, IDXX, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, QCOM, CTXS, VRTX, TSLA, JBHT, MXIM, SIRI,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

JBHT, MXIM, SIRI,

Moving Below 30 DMA = 5

AMAT, AMGN, BKNG, CELG, EXPE,  

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SPY, IWM, QQQ Bull Flag Day 3...SQ Drops in After-hours following EPS...

© 2019

SPY formed a hammer on day 3 of its bull flag price pattern:

• IWM, QQQ, DIA, SMH each on day 3 of a bull flag pattern, QQQ, SMH also formed a hammer candle pattern,
• SPX pulls back following trade comments from U.S. trade rep Lighthizer, selling exhausts after 90 minutes and rallies to form a hammer by EOD,
• Fed Chair Powell testifies before House Finance Committee,
• Federated Investors portfolio manager Chiavarone forecasts SPX 3100,
• SQ -6.71% EPS reaction in after-hours trading.

Setups

Bull Flag = SPY, IWM, QQQ, SMH

                   (click image to enlarge)

The DJIA, closed down 72 points at 25,985, falling below 26,000, led by weakness in UNH, HD, PG, DWDP and DIS. 

Four of eleven sectors were higher on Wednesday, led by industrials XLI +0.39% and energy XLE +0.38%.

SPY down .12 at 279.20 on 56.9 million shares, 29% below average volume. Down on similar volume.

VIX down .47 at 14.70

Oil up .99 at 56.98

TLT down 1.38 at 120.43 on 7.7 million shares. 

BA +2.03%, CAT +1.16%, led the DJIA, 13 advancers, -3

BBY +14.11%, CPB +10.03% and TJX +3.70%, led the SPX.

MELI +20.89%, TSLA +5.67%, ILMN +2.64%, and ALXN +2.04% led the NDX.

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

Up: IWM,

Down: SPY, QQQ, DIA,

Breadth strengthened on Wednesday, as advancers led 1,493 to 1,365 on the NYSE and led 1,584 to 1,431 on the NASDAQ

The SPY MFC green line is in the upper zone at 93 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI, XLU, XLB,

Neutral sectors:  XLK, XLY, XLV, XLP, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

43 of 100 NDX stocks closed higher on Wednesday.

83 NDX stocks are above their 30 DMA:  REGN, WDAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, QCOM, CTXS, VRTX, AMGN, TSLA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

AMGN, TSLA,

Moving Below 30 DMA = 4

JBHT, MXIM, MYL, WBA,

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Light Volume Trading Range with QQQ Higher and SPY, DIA, IWM Lower...VIX Rises for Second Day...

© 2019

SPY had its lowest daily volume of 2019 on Tuesday at 56.8 million shares:

• U.S. futures trading was halted Tuesday evening from 7:40 pm ET to 10:45 pm ET due to technical issues.
• Fed Chair Powell indicates before Senate Committee the Fed to be patient on future rate hikes.  Will speak to House Finance Committee on Wednesday.
• Wells Fargo Equity Strategist Harvey sees continued market rally as Fed pauses.

The DJIA, closed down 33 points at 26,057, its third close above 26,000 since Nov 8, led by weakness in CAT, HD, UNH, MMM and UNH.  Both CAT and HD rallied from a gap down lower open but finished lower for the day.

Three of eleven sectors were higher on Tuesday, led by technology XLK +0.21% and discretionary XLY +0.14%.

SPY down .20 at 279.32 on 56.8 million shares, 29% below average volume. Down on lower volume.

VIX up .32 at 15.17

Oil up .56 at 55.99

TLT up .60 at 121.81 on 6.0 million shares. 

CSCO +0.77%, NKE +0.74%, led the DJIA, 16 advancers, -4

AZO +5.10%, SJM +4.98% and AAP +3.30%, led the SPX.

LBTYA +3.71%, EA +2.75%, LULU +1.64%, and JD +1.53% led the NDX.

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

Up: QQQ,

Down: SPY, DIA, IWM,

Breadth weakened on Tuesday, as decliners led 1,673 to 1,198 on the NYSE and led 1,891 to 1,134 on the NASDAQ

The SPY MFC green line is in the upper zone at 95 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI, XLU, XLB,

Neutral sectors:  XLK, XLY, XLV, XLP, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

52 of 100 NDX stocks closed higher on Tuesday.

85 NDX stocks are above their 30 DMA:  REGN, WDAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, QCOM, CTXS, VRTX, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

VRTX, WBA,

Moving Below 30 DMA = 2

DLTR, SIRI,

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SPY Gap Up Breakout That Fills the Gap...VIX Jumps...

© 2019

The DJIA, closed up 60 points at 26,091, its second close above 26,000 since Nov 8, led by strength in BA, CAT, GS, TRV and AAPL. 

Seven of eleven sectors were higher on Monday, led by materials XLB +0.65% and technology XLK +0.48%.

SPY up .38 at 279.52 on 69.0 million shares, 14% below average volume. Up on lower volume.

VIX up 1.34 at 14.85

Oil down 1.74 at 55.43

TLT down .36 at 121.21 on 6.3 million shares. 

DWDP +2.02%, CAT +1.97%, led the DJIA, 20 advancers, -4

DHR +8.52%, GE +6.39% and SWN +4.01%, led the SPX.

BMRN +3.97%, CTRP +3.96%, WDC +3.78%, and ALGN +3.29% led the NDX.

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

Up: QQQ, DIA, SPY, IWM,

Down:

Breadth weakened on Monday, as decliners led 1,471 to 1,420 on the NYSE and advancers led 1,629 to 1,405 on the NASDAQ

The SPY MFC green line is in the upper zone at 96 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI, XLU, XLB,

Neutral sectors:  XLK, XLY, XLV, XLP, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

57 of 100 NDX stocks closed higher on Monday.

85 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, SIRI, QCOM, CTXS,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

CTXS,

Moving Below 30 DMA = 0

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DJIA Closes Above 26,000 as Rally Finishes Week 9...

© 2019

SPY, IWM, QQQ, DIA Rally week 9...

                   (click image to enlarge)

Setups
HBO = NFLX, PYPL, SMH, Bull Flag = EA

                   (click image to enlarge)

The DJIA, closed up 181 points at 26,031, its first close above 26,000 since Nov 8, led by strength in BA, AAPL, V, MMM and MSFT. 

Nine of eleven sectors were higher on Friday, led by technology XLK +1.28% and communication services XLC +0.94%.

SPY up 1.72 at 279.14 on 78.0 million shares, 4% below average volume. Up on higher volume.

VIX down .95 at 13.51

Oil up .23 at 57.07

TLT up .72 at 121.57 on 6.3 million shares. 

INTC +2.10%, PFE +1.95%, led the DJIA, 24 advancers, +15

INTU +6.77%, DLPH +5.80% and FOSL +5.28%, led the SPX.

JD +6.92%, INTU +6.77%, WDC +4.87%, and XLNX +2.93% led the NDX.

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

Up: IWM, QQQ, DIA, SPY

Down:

Breadth strengthened on Friday, as advancers led 2,095 to 788 on the NYSE and led 2,104 to 925 on the NASDAQ

The SPY MFC green line is in the upper zone at 97 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI, XLU,

Neutral sectors:  XLK, XLY, XLV, XLP, XLB, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

82 of 100 NDX stocks closed higher on Friday.

84 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, SIRI,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

QCOM,

Moving Below 30 DMA = 3

BIDU, KHC, XRAY,

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