SPX, DJI, NDX Rise on New Year's Eve, Close Just Below All-time Highs...Happy New Year...

© 2019

On Monday just 16 NDX 100 stocks were higher.  On Tuesday morning, breadth had improved but only 36 NDX 100 stocks were higher.  Just before noon EST on Tuesday, the NDX started to rise, finishing Tuesday, the final trading day of 2019 with 73 NDX 100 stocks higher.

SPY, QQQ, DIA and IWM formed a bullish candle on Tuesday in a bull flag price pattern.

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Bull Flag Setups:  SPY, QQQ, IWM, DIA, SMH, AMD, BBY, BX, CSCO, LRCX, MSFT, MU, NFLX, NVDA, TXN, V, AAL, ADBE, AMAT, EA,

Bull Flag Triggers on Monday: WDC, BMY,

Ten of eleven sectors were higher on Tuesday, led by XLB, XLRE and XLE.

SPY up .78 at 321.86 on 57.1 million shares, average volume.  Up on higher volume.

VIX down 1.04 at 13.78

IBM, CSCO, AAPL led the DJIA, 26 advancers, +25

CGI, SWN, MYL led the SPX, 396 advancers

WDC, AAL, KHC, NVDA led the NDX, 73 advancers

Long term up trend intact.  3-day short term trend is down in a Bull Flag.

Up:  SPY, DIA, QQQ, IWM,

Down:

Breadth strengthened on Tuesday as advancers led 1,892 to 1,033 on the NYSE and led 1,983 to 1,225 on the NASDAQ

The SPX MFC green line is above 80 and is pointed down at 92 and is counter-trend defensive, intermediate-term up. 

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

Neutral sectors:  XLE, 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 Trend: Down in a Bull Flag

73 of 100 NDX stocks closed higher on Tuesday.

84 NDX stocks are above their 30 DMA:  AAPL, SWKS, AMGN, REGN, PCAR, SIRI, AMD, ISRG, FOXA, MAR, BMRN, MSFT, ADBE, ADSK, EA, FISV, LULU, MNST, WLTW, CERN, ILMN, SBUX, MDLZ, PEP, VRSK, GOOGL, ADI, ASML, MCHP, NXPI, TXN, ATVI, JD, NVDA, TSLA, ULTA, VRSN, EXPE, MU, AMAT, BIDU, BKNG, CSX, FAST, LRCX, MXIM, PYPL, QCOM, WDC, XLNX, BIIB, CTAS, EBAY, KLAC, TCOM, CDNS, INTU, XEL, AMZN, CSCO, EXC, FB, KHC, NFLX, ALGN, SNPS, AAL, ADP, CHTR, IDXX, INTC, LBTYA, ROST, CMCSA, ANSS, CDW, CPRT, CSGP, SPLK, TMUS, NTAP, NTES, PAYX, TTWO,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

NTAP, NTES, PAYX, TTWO,

Moving Below 30 DMA = 1

MELI,  

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