SPY Breaks Out on Bull Flag Bounce Day 5, Next Resistance 290 High...

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The DJIA, closed up 329 points at 26,258, led by strength in BA, CAT, GS. UTX and MMM.  First close above 26,000 since March 1.

Eight of eleven sectors were higher on Monday, led by financials XLF +2.45% and industrials XLI +2.07%.

SPY up 3.35 at 285.83 on 77.6 million shares, 1% above average volume. Up on lower volume.

VIX down .31 at 13.40

Oil up 1.59 at 61.77

TLT down 2.07 at 124.37 on 16.5 million shares. 

CAT +3.51%, JPM +3.37%, led the DJIA, 24 advancers, -5

DLPH +8.20%, IPGP +6.79% and BSA +5.49%, led the SPX.

WYNN +8.40%, NXPI +6.79%, NTES +6.03%, and MCHP +5.42%, led the NDX.

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

Up: QQQ, DIA, SPY, IWM,

Down:

Breadth strengthened on Monday, as advancers led 2,240 to 702 on the NYSE and led 2,101 to 975 on the NASDAQ

The SPY MFC green line is pointed up at 76 and is bullish.  Did you see the horizontal breakout today?

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

Neutral sectors:  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: Up

87 of 100 NDX stocks closed higher on Monday.

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

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 13

ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TSLA, TXN, VRTX, WDC, WYNN,

Moving Below 30 DMA = 0

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