Tuesday, September 3, 2019

Tariffs Kick-in, SPX Opens Down and Rallies, Then Drops 20 Points in 6 minutes after ISM Mfg. PMI Lower than Expected...Reports


© 2019


The DJIA, closed down 285 points at 26,118 led by weakness in BA, GS, HD, UNH and MMM.  Closing below 27,000 for the twentieth-third straight day.

Three of eleven sectors were higher on Tuesday, led by utilities XLU +1.77% and real estate XLRE +1.43%.

SPY down 1.71 at 290.74 on 69.2 million shares, 16% below average volume.  Down on higher volume.
VIX up .68 at 19.66
Oil down 1.23 at 53.93
TLT down .07 at 147.21 on 15.6 million shares. 
GLD up 2.00 at 145.75

PFE +1.60%, PG +0.94%, led the DJIA, 9 advancers, -10
DVA +3.85%, SWN +3.80% and AMT +3.32% led the SPX.
KHC +2.12%, KLAC +1.37%, NTES +1.35% and EA +1.23% led the NDX.


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

Up: 
Down: SPY, QQQ, DIA, IWM, 

Breadth weakened on Tuesday, as decliners led 1,824 to 1,135 on the NYSE and led 2,249 to 859 on the NASDAQ

The SPY MFC green line is pointed up at 41 and is short-term bullish

Uptrend sectorsXLRE, XLU, XLP, XLY, XLK,
Neutral sectors:  XLC, XLV, XLI, XLF, XLB,
Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp

18 of 100 NDX stocks closed higher on Tuesday.

37 NDX stocks are above their 30 DMA:  SBUX, FISV, AMGN, CELG, KLAC, TTWO, VRSK, VRTX, NTES, SYMC, PEP, EA, SNPS, INTU, ADP, ATVI, BKNG, CHTR, COST, JBHT, MDLZ, CMCSA, IDXX, QCOM, AAPL, MYL, ORLY, SIRI, ASML, LRCX, MU, NVDA, ROST, WDC, WLTW, DLTR, LBTYA,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0


Moving Below 30 DMA = 12
AMAT, CSX, CTAS, EBAY, FAST, GOOGL, ISRG, JD, LULU, MSFT, NXPI, TXN,

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2 comments:

Don said...

With the ISM Mfg. PMI Lower than Expected news baked in, we could be off to the races. Hang on.

Your thoughts, Dave

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