SPY, DIA, IWM, QQQ Bull Flag Bounce as Rally Continues in Week 8...

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QQQ, DIA, SPY and IWM each gain 1% plus after a bull flag bounce on Tuesday:

• IWM, SPY and DIA also broke above their Feb 5 high for a breakout entry trigger,
• Futures rose Monday night after word that a tentative agreement had been reached on a spending bill to avoid another government shutdown,
• JLL, IPGP, UAA, FLR, RNG and BRKR each gained more than 5% following a positive earnings reaction,
• The SPY has risen 17% in its current eight-week rally as of Tuesday’s close.

The DJIA, closed up 372 points at 25,425, led by strength in BA, UNH, MMM, CAT and GS.  

Ten of eleven sectors were higher on Tuesday, led by materials XLB +2.24% and industrials XLI +1.55%.

SPY up 3.48 at 274.10 on 72.0 million shares, 22% below average volume. Up on higher volume.

VIX down .54 at 15.43

Oil up .89 at 53.34

TLT down .31 at 121.55 on 7.9 million shares. 

CAT +2.90%, MMM +2.82%, led the DJIA, 28 advancers, +13

BHF +13.95%, COTY +12.53% and PCG +7.68%, led the SPX.

EA +5.23%, LULU +5.03%, MU +4.72%, and NXPI +4.46% led the NDX.

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

Up: QQQ, DIA, SPY, IWM,

Down:

Breadth strengthened on Tuesday, as advancers led 2,188 to 696 on the NYSE and led 2,253 to 770 on the NASDAQ

The SPY MFC green line is in the upper zone at 94 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI,

Neutral sectors:  XLU, 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

86 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 7

AMZN, BMRN, COST, HSIC, NTES, VRTX, WBA,

Moving Below 30 DMA = 0

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