© 2019
SPY, QQQ, DIA, IWM form
weekly bullish engulfing candle and flag support bounce in Week 24 of five
month indicate trend continuation for the intermediate term trend following positive shifts with China, Mexico and
the Fed this week…
(click image to enlarge)
Breakout Setups for Monday: AXP, MSFT, CSCO,
MAR…
(click
image to enlarge)
The DJIA, closed up 263 points at 25,983, led by strength in UNH, AAPL,
MSFT, V and BA. Closing above 25,000 above for the fourth day after closing below
for two days.
Nine of eleven sectors were higher on Friday, led by technology XLK +1.86% and communication
services XLC +1.62%.
SPY up 2.85 at 287.65 on 74.2 million
shares, 8% below average
volume. Up on higher volume.
VIX up .37 at 16.30
Oil up .86 at 54.04
TLT up 1.13 at 131.74 on 11.3 million shares.
MSFT +2.80%, AAPL +2.66%, led the DJIA, 26 advancers, +1
FOSL +3.83%, GCI +3.77% and TWTR
+3.66%, led the SPX.
ILMN +5.31%, MELI +3.92%, WDAY +3.61% and VRTX +3.43% led the NDX.
Long term up
trend intact. 3-day short term trend is up.
Up: QQQ, SPY,
DIA, IWM,
Down:
Breadth strengthened
on Friday, as advancers led 2,140 to 732 on the NYSE and
led 1,996 to 1,027 on the NASDAQ
The SPY
MFC green line is turned up at 41 and is short-term bullish.
Uptrend sectors: XLP, XLRE, XLU, XLY, XLK, XLB, XLI, XLC,
Neutral sectors:
XLF, XLV, XLE,
Down trend sectors:
The 6-month intermediate
trend is up. The ten-day trend is up.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
92 of 100 NDX stocks closed higher on Friday.
52 NDX stocks are above their 30 DMA: PAYX, PEP, CERN, CTAS, CHTR,
IDXX, MNST, XRAY, TTWO, MELI, INCY, ORLY, AMD, MDLZ, WLTW, AMGN,
CELG, COST, EA, HAS, HSIC, ILMN, SBUX, TMUS, VRSK, VRSN, ADP, CSCO, CSX, EXPE,
FISV, INTU, PCAR, PYPL, SNPS, AMAT, LBTYA, MSFT, MXIM, ROST, WDAY, ADBE, ATVI,
BKNG, CTSH, EBAY, GILD, ISRG, MAR, NFLX, TXN, VRTX,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 11
ADBE, ATVI, BKNG, CTSH, EBAY, GILD,
ISRG, MAR, NFLX, TXN, VRTX,
Moving Below 30 DMA = 0
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