SPY, QQQ BO Test Falls Below & Closes Above Resistance...

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This is a big week with more than 150 SPX stocks reporting EPS, US/China trade talks Monday to Wednesday, FOMC meeting Tuesday and Wednesday, with rate announcement at 2:00 pm ET on Wednesday and the June Jobs Report on Friday.  A .25% rate cut is expected on Wednesday.

The DJIA, closed up 28 points at 27,221, led by strength in MMM, JNJ, AAPL, DIS and PG.  Closing above 27,000 for the thirteenth straight day. 

Four of eleven sectors were higher on Monday, led by utilities XLU +0.52% and healthcare XLV +0.41%. 

SPY down .55 at 301.46 on 38.1 million shares, 31% below average volume.  Down on lower volume.

VIX up .67 at 12.83

Oil up .89 at 57.05

TLT up .04 at 131.51 on 6.2 million shares. 

INTC +1.78%, JNJ +1.75%, led the DJIA, 18 advancers, +0

CMG +3.74%, CI +2.95% and 2.55 +8.55%, led the SPX.

MYL +12.57%, TSLA +3.39%, FISV +2.29% and HAS +1.94% led the NDX.

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

Up: DIA

Down: SPY, QQQ, IWM,

Breadth weakened on Monday, as advancers led 1,473 to 1,448 on the NYSE and decliners led 1,878 to 1,177 on the NASDAQ

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

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

Neutral sectors:  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

43 of 100 NDX stocks closed higher on Monday.

67 NDX stocks are above their 30 DMA:  CTAS, IDXX, TTWO, WLTW, COST, HAS, SBUX, VRSN, EXPE, FISV, INTU, SNPS, MSFT, MXIM, ROST, BKNG, CTSH, AAPL, ADI, CDNS, INTC, UAL, LULU, SIRI, ADBE, AMAT, ASML, AVGO, JD, KLAC, MCHP, NVDA, SWKS, TXN, WYNN, XLNX, QCOM, WDC, AMD, CTRP, MU, FOXA, VRSK, CMCSA, GOOGL, CSCO, LRCX, TMUS, JBHT, NXPI, ADP, ISRG, EBAY, KHC, MELI, BIIB, MAR, MNST, WBA, ATVI, PCAR, PAYX, CERN, GILD, MDLZ, MYL, ORLY,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

CERN, GILD, MDLZ, MYL, ORLY,

Moving Below 30 DMA = 7

FAST, FB, LBTYA, REGN, SYMC, ULTA, WDAY,

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