SPX/SPY Support Holds Day 5...

© 2019

SPX closes at 2,976, down -1.5% from Sep 19th 3,021 high.

The DJIA, closed up 96 points at 26,916 led by strength in AAPL, IBM, HD, UNH and NKE.  Closing below 27,000 for the seventh straight day.

Nine of eleven sectors were higher on Monday, led by technology XLK +1.05% and healthcare XLV +0.90%.

SPY up 1.37 at 296.77 on 52.5 million shares, 21% below average volume.  Up on lower volume.

VIX down .98 at 16.24

Oil down 1.94 at 54.24

TLT up .35 at 143.08 on 8.4 million shares.

GLD down 2.19 at 138.87

AAPL +2.35%, NKE +1.74%, led the DJIA, 19 advancers, +6

JEF +3.60%, LB +3.43% and NWL +2.86% led the SPX.

MAR +2.98%, ALGN +2.89%, CTSH +2.58% and ULTA +2.56% led the NDX.

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

Up: QQQ, SPY, DIA, IWM,

Down:                                                                  

Breadth strengthened on Monday as advancers led 1,669 to 1,235 on the NYSE and led 1,698 to 1,388 on the NASDAQ

The SPX MFC green line is below 80 and is pointed down at 75 and is short-term defensive.

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

Neutral sectors:  XLV, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

83 of 100 NDX stocks closed higher on Monday.

49 NDX stocks are above their 30 DMA:  CELG, KLAC, PEP, JBHT, AAPL, ASML, LRCX, DLTR, AMAT, CSX, CTXS, INTC, NXPI, TXN, EXPE, FAST, GOOGL, LULU, MCHP, MXIM, NTAP, PCAR, WBA, UAL, HAS, KHC, BIIB, CSCO, ILMN, ISRG, MSFT, ORLY, ROST, XRAY, MDLZ, CTAS,  TSLA, HSIC, ADI, ALGN, ATVI, CHKP, EA, MNST, NTES, NVDA, PAYX, SIRI, SWKS, TMUS,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 12

ADI, ALGN, ATVI, CHKP, EA, MNST, NTES, NVDA, PAYX, SIRI, SWKS, TMUS,

Moving Below 30 DMA = 2

QCOM, WDC,

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SPX/SPY Fall to Support for Fourth Day after News that US is May Consider Restricting Investment in China...

© 2019

SPX/SPY continue its 10-day pullback consolidation and now in a 4-day trading channel.

Our short-term technical assessment is sideways to down (to support). 

SPX ST support range was 2945 – 2963

SPX IT support 2920 - 2940

SPX closes at 2,961, down -1.99% from Sep 19th 3,021 high.

The DJIA, closed down 70 points at 26,820 led by weakness in BA, MSFT, V, CVX and DIS.  Closing below 27,000 for the sixth straight day.

Just one of eleven sectors was higher on Friday, led by financial XLF +0.04% and energy XLE -0.02%.

SPY down 1.60 at 295.40 on 84.7 million shares, 19% above average volume.  Down on higher volume.

VIX up 1.15 at 17.22

Oil down .36 at 56.18

TLT up .35 at 142.73 on 10.3 million shares.
GLD down .73 at 141.06

PFE +1.23%, XOM +0.72%, led the DJIA, 13 advancers, +1

WFC +3.77%, EMR +3.44% and ETFC +3.02% led the SPX.

ULTA +3.42%, DLTR +1.64%, HSIC +1.56% and HAS +1.21% led the NDX.

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

Up:  

Down: DIA, SPY, IWM, QQQ,                        

Breadth strengthened slightly on Friday as decliners led 1,575 to 1,336 on the NYSE and led 2,028 to 1,053 on the NASDAQ

The SPX MFC green line is below 80 and is pointed down at 76.8 and is short-term defensive.

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

Neutral sectors:  XLV, XLE,

Down trend sectors:

The 6-month intermediate trend is up.  The ten-day trend is down a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

15 of 100 NDX stocks closed higher on Friday.

39 NDX stocks are above their 30 DMA:  SBUX, CELG, KLAC, PEP, JBHT, AAPL, ASML, LRCX, WDC, DLTR, AMAT, CSX, CTXS, INTC, NXPI, TXN, EXPE, FAST, GOOGL, LULU, MCHP, MXIM, NTAP, WBA, UAL, HAS, KHC, BIIB, CSCO, ILMN, ISRG, MSFT, ORLY, ROST, XRAY, MDLZ, CTAS,  QCOM, TSLA, HSIC,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

HSIC,

Moving Below 30 DMA = 21

ADBE, ADI, ADSK, ALGN, ATVI, BIDU, CHKP, CHTR, COST, EA, MU, NTES, NVDA, PAYX, SIRI, SNPS, SWKS, SYMC, TMUS, VRSK, WLTW,

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Pullback Trading Range Day 3...Real Estate, Staples Lead as Energy Lags...

© 2019

SPX closes at 2,977, down -1.47% from Thursday’s 3,021 high.

The DJIA, closed down 79 points at 26,891 led by strength in UNH, CVX, JNJ, DIS and GS.  Closing below 27,000 for the fifth straight day.

Five of eleven sectors were higher on Thursday, led by real estate XLRE +0.97% and staples XLP +0.56%.

SPY down .62 at 297.00 on 58.7 million shares, 14% below average volume.  Down on lower volume.

VIX up .11 at 16.07

Oil down .12 at 56.54

TLT up .91 at 142.38 on 10.7 million shares.

GLD down .04 at 141.79

NKE +1.50%, PG +1.05%, led the DJIA, 12 advancers, -9

CAG +3.68%, WHR +2.98% and ABBV +2.69% led the SPX.

TSLA +6.06%, NTES +3.03%, WDAY +2.62% and ADBE +2.30% led the NDX.

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

Up:  

Down: SPY, DIA, QQQ, IWM,

Breadth weakened on Thursday as decliners led 1,658 to 1,267 on the NYSE and led 2,072 to 971 on the NASDAQ

The SPX MFC green line crossed just below the upper zone and is pointed down at 79.9 and is short-term defensive.

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

Neutral sectors:  XLV, XLE,

Down trend sectors:

The 6-month intermediate trend is up.  The ten-day trend is down a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

40 of 100 NDX stocks closed higher on Thursday.

59 NDX stocks are above their 30 DMA:  SBUX, CELG, KLAC, NTES, PEP, EA, ATVI, CHTR, COST, JBHT, AAPL, SIRI, ASML, LRCX, MU, NVDA, WDC, DLTR, AMAT, CSX, CTXS, INTC, NXPI, TXN, EXPE, FAST, GOOGL, LULU, MCHP, MXIM, NTAP, SWKS, WBA, TMUS, UAL, HAS, KHC, BIIB, CSCO, ILMN, ISRG, WLTW, MSFT, ORLY, SNPS, ALGN,  ROST, XRAY, MDLZ, ADI, CTAS,  PAYX, QCOM, SYMC, ADBE, ADSK, BIDU, CHKP, TSLA, VRSK,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

ADBE, ADSK, BIDU, CHKP, TSLA, VRSK,

Moving Below 30 DMA = 7

AAL, BKNG, CMCSA, HSIC, MNST, MYL, WYNN,

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Buyers Take Control on Wednesday, Bounce off Support...

© 2019

  

SPX closes up at 2,984, down just -1.23% from last Thursday’s 3,021 high.

The DJIA, closed up 162 points at 26,970 led by strength in BA, NKE, AAPL, HD and GS.  Closing below 27,000 for the fourth straight day.

Eight of eleven sectors were higher on Wednesday, led by technology XLK +1.19% and communication services XLC +1.15%.

SPY up 1.75 at 297.62 on 73.4 million shares, 3% above average volume.  Up on lower volume.

VIX down 1.09 at 15.96

Oil down .14 at 56.66

TLT down 2.10 at 141.47 on 14.5 million shares.

GLD down 2.68 at 141.83

NKE +4.16%, INTC +2.41%, led the DJIA, 21 advancers, +14

MPC +8.42%, PM +5.20% and AA +4.27% led the SPX.

CTAS +5.74%, BIDU +5.32%, NFLX +4.16% and NFLX +3.99% led the NDX.

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

Up:  QQQ, IWM, DIA, SPY,

Down:

Breadth strengthened on Wednesday as advancers led 1,870 to 1,025 on the NYSE and led 1,790 to 1,267 on the NASDAQ

The SPX MFC green line is in the upper zone and pointed down at 82.9 and is counter-trend defensive.

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

Neutral sectors:  XLV, XLE,

Down trend sectors:

The 6-month intermediate trend is up.  The ten-day trend is down a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

81 of 100 NDX stocks closed higher on Wednesday.

60 NDX stocks are above their 30 DMA:  SBUX, CELG, KLAC, NTES, PEP, EA, ATVI, BKNG, CHTR, COST, JBHT, CMCSA, AAPL, SIRI, ASML, LRCX, MU, NVDA, WDC, DLTR, AMAT, CSX, CTXS, INTC, NXPI, TXN, EXPE, FAST, GOOGL, LULU, MCHP, MXIM, NTAP, SWKS, WBA, TMUS, UAL, HAS, KHC, BIIB, CSCO, ILMN, ISRG, WLTW, MNST, MSFT, ORLY, SNPS, ALGN,  ROST, XRAY, MDLZ, AAL, ADI, CTAS, HSIC, MYL, PAYX, QCOM, SYMC, WYNN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 9

AAL, ADI, CTAS, HSIC, MYL, PAYX, QCOM, SYMC, WYNN,

Moving Below 30 DMA = 4

ADSK, AVGO, GILD, REGN, 

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Weak Consumer Confidence and Mfg. Economic Data Followed by SPX Break of Short-term Support...

© 2019

Tuesday:

SPX opens higher then reverses from 3,007 high to close at 2966 after:

• Sept. Consumer confidence 125.1 vs. 133.01, lower than expected,
• Sept. Richmond Fed Manufacturing -9 vs. -1, lower than expected, and
• UN speech by President,
• House announces formal impeachment inquiry,
• After the close, NKE +4.77, 5.47%, on positive EPS reaction.

SPX closes down -1.83% from Thursday’s 3,010 high.

The DJIA, closed down 142 points at 26,807 led by weakness in GS, UNH, CAT, MMM and MSFT.  Closing below 27,000 for the third straight day.

Only two of eleven sectors were higher on Tuesday, led by utilities XLU +1.17% and staples XLP +0.41%.

SPY down 2.34 at 295.87 on 97.2 million shares, 35% above average volume.  Down on higher volume.

VIX up 2.14 at 17.05

Oil down 1.69 at 56.80

TLT up 1.71 at 143.57 on 12.9 million shares.

GLD up .76 at 144.51

BA +1.23%, WMT +0.66%, led the DJIA, 7 advancers, -11

CAG +2.28%, HBI +2.27% and CBOE +1.99% led the SPX.

ISRG +2.56%, XRAY +1.45%, WYNN +1.16% and ULTA +0.91% led the NDX.

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

Up:  

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Tuesday decliners led 2,015 to 909 on the NYSE and led 2,440 to 654 on the NASDAQ

The SPY MFC green line is in the upper zone and pointed down at 85.8 and is counter-trend defensive.

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

Neutral sectors:  XLV, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

11 of 100 NDX stocks closed higher on Tuesday.

55 NDX stocks are above their 30 DMA:  SBUX, CELG, KLAC, NTES, PEP, EA, ATVI, BKNG, CHTR, COST, JBHT, CMCSA, AAPL, SIRI, ASML, LRCX, MU, NVDA, WDC, DLTR, AMAT, AVGO, CSX, CTXS, INTC, NXPI, TXN, EXPE, FAST, GOOGL, LULU, MCHP, MXIM, NTAP, SWKS, WBA, ADSK, GILD, TMUS, UAL, HAS, KHC, BIIB, CSCO, ILMN, ISRG, WLTW, MNST, MSFT, ORLY, SNPS, ALGN,  REGN, ROST, XRAY, MDLZ,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MDLZ,  

Moving Below 30 DMA = 10

AAL, ADI, EBAY, FB, HSIC, MYL, PAYX, QCOM, SYMC, TSLA, 

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