© 2019
SPY
rallied
back to last Wednesday’s close before the market had a selloff Thursday
reportedly in reaction to the yield curve inversion when the 10-year Treasury
briefly fell below the 2-year yield. Two
day down and two day up.
There are numerous
horizontal resistance breakout setups on charts today including SPY, QQQ, PG. V. WDC,
SMH, AAPL, GOOGL and many more charts today.
The DJIA, closed up 249 points at 26,136, led by strength in HD, AAPL, BA, GS and MSFT. Closing above 26,000 but below 27,000 for the fourteenth straight
day.
All eleven sectors were higher on Monday, led by energy XLE +2.21% and communication services XLC +1.56%.
SPY up 4.20 at 292.33 on 53.6
million shares, 29% below
average volume. Up on lower volume.
VIX down 1.59 at 16.88
Oil up 1.26 at 56.11
TLT down 2.09 at 144.04 on 13.6 million shares.
CSCO +3.28%, DOW +2.45%, led the DJIA, 28 advancers, -2
EL +12.52%, SWN +8.33% and KSS +5.91% led the SPX.
BIDU +7.78%, NVDA +7.03%, WYNN +6.50% and CTRP +5.28% led the NDX.Long term up trend intact. 3-day short term trend is up.
Up: QQQ, SPY, IWM, DIA,
Down:
Breadth weakened
slightly on Monday, as advancers led 2,217 to 717 on the NYSE and
led 2,194 to 877 on the NASDAQ
The SPY
MFC green line turned up at 32 and is short-term
bullish.
Uptrend sectors: XLRE, XLU, XLP, XLY, XLK, XLB,
Neutral sectors:
XLC, XLV, XLI, XLF,
Down trend sectors: XLE,
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
97 of 100 NDX stocks
closed higher on Monday.
40 NDX stocks are above their 30 DMA: CTAS, SBUX, FISV, WDC, AMGN, CELG, KLAC, TTWO, VRSK, BKNG, VRTX, LRCX, NTES, NXPI, SYMC,
GOOGL, JD, PEP, AAPL, ADP, HAS, INCY, JBHT, MDLZ, TXN, ATVI, BIIB, CMCSA,
EA, EBAY, FAST, IDXX, MSFT, MU, MYL, NVDA, ORLY, QCOM, SIRI, WLTW,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 15
ATVI, BIIB, CMCSA, EA, EBAY, FAST,
IDXX, MSFT, MU, MYL, NVDA, ORLY, QCOM, SIRI, WLTW,
Moving Below 30 DMA = 0
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