Tuesday, November 12, 2019

SPX, NDX Reach All-time New Highs...SPX Crosses 3,100 for First Time...


© 2019

Bull Flag Setups for Wednesday: DIA, IWM, SMH, AMZN, BABA, C, COST, CVS, DIS, GOOGL, IBM, JPM, LRCX, MMM, QCOM


SPY and QQQ made a bull flag bounce and are now horizontal resistance breakout setupsDIA and IWM are still bull flag setups for Wednesday.

DJIA was unchanged at 27,691 led by strength in DIS, GS, HD and UNGGains were offset by weakness in BA and CAT. Closing above 27,000 for the twelfth day  in a row.

Seven of eleven sectors were higher on Tuesday, led by XLV, XLB and XLK.

SPY up .65 at 309.00 on 46.4 million shares, below average volume.  Up on higher volume.
VIX down .01 at 12.68
Oil down .12 at 56.78
TLT up .62 at 135.62 on 5.7 million shares
GLD up .37 at 137.43


DIS, MRK, WBA led the DJIA, 16 advancers, +7
ROK, TSN, FTNT led the SPX, 245 advancers
ADSK, FB, IDXX, ADP led the NDX, 58 advancers

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

Up: QQQ, SPY, DIA, IWM
Down                                                                

Breadth strengthened moderately on Tuesday as decliners led 1,530 to 1,396 on the NYSE and advancers led 1,544 to 1,532 on the NASDAQ

The SPX MFC green line is above 80 at 95 and is short-term bullish

Uptrend sectors XLK, XLF, XLI, XLB, XLV, XLC,
Neutral sectors:  XLY, XLP, XLE, XLU, XLRE,
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 TrendUp a little

58 of 100 NDX stocks closed higher on Tuesday.

71 NDX stocks are above their 30 DMA:  KLAC, AAPL, ASML, CTXS, ALGN, CELG, CHTR, NVDA, COST, SWKS, TSLA, INTC, ISRG, ORLY, AMGN, REGN, FAST, GOOGL, NTES, PCAR, SIRI, WYNN, AAL, AMD, INCY, VRTX, ISRG, JBHT, JD, NTAP, QCOM, UAL, WBA, FOXA, CSX, BIIB, KHC, ALXN, FB, MAR, AMAT, AMZN, AVGO, BMRN, LRCX, MSFT, MU, NFLX, CHKP, MXIM, NXPI, HSIC, ADBE, ADSK, CTSH, BIDU, ROST, ADI, CDNS, CSCO, EA, FISV, LULU, ADP, MNST, XLNX, CMCSA, GILD, SNPS, ULTA, WLTW,


NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
ULTA, WLTW,

Moving Below 30 DMA = 2
PYPL, VRSN,


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