Bull Flag Day 2...Buyers, Sellers in Balance with Monday's Spinning Top Candle...Watch for Bounce...

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Setups

Bull Flag = QQQ, SPY, V, QCOM

 

                   (click image to enlarge)

The DJIA, closed up 14 points at 25,516, led by strength in BA, CAT, HD, MSFT and VZ. 

Six of eleven sectors were higher on Monday, led by discretionary XLY +0.59% and industrials XLI +0.23%.

SPY down .21 at 279.04 on 85.5 million shares, 10% above average volume. Down on lower volume.

VIX down .15 at 16.33

Oil up .11 at 59.08

TLT up .20 at 125.06 on 9.7 million shares. 

BA +2.29%, CAT +1.24%, led the DJIA, 12 advancers, +8

VIAB +3.87%, LEN +3.57% and CAG +3.44%, led the SPX.

ORLY +2.55%, CTRP +0.51%, LULU +2.35%, and MNST +1.94%, led the NDX.

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

Up: IWM, DIA,

Down: SPY, QQQ,

Breadth strengthened on Monday, as advancers led 1,488 to 1,367 on the NYSE and led 1,583 to 1,455 on the NASDAQ

The SPY MFC green line is in the upper zone, pointed down at 81 and is short-term counter-trend.  Watch for bull flag bounce.

Uptrend sectors: XLRE, XLU, XLC, XLK, XLI, XLY, XLP,

Neutral sectors:  XLB, XLV, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

50 of 100 NDX stocks closed higher on Monday.

62 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, TMUS, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, CHTR, INTC, MSFT, COST, QCOM, XRAY, DLTR, ILMN, ISRG, AMZN, INCY, NFLX, NVDA, SYMC, ASML, NTAP, SBUX, ATVI, IDXX, LBTYA, NTES, TTWO, LRCX, ALGN, AMAT, AVGO, MAR, ORLY, AMD, EBAY, WDAY, EA, FISV, ADBE, ALXN, FB,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

ADBE, ALXN, FB,

Moving Below 30 DMA = 6

ADI, CELG, CERN, MU, SWKS, TXN,

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