© 2019
The ISM Mfg Index
came in this morning at 48.1, below the consensus estimate of 49.4 and below the November report
of 48.3. The SPX fell 27 points in reaction. This was a
similar reaction to the SPX drop of 36 points after a lower than expected ISM Mfg Index report on October 1.
DJIA closed down 268 at 27,783 led by weakness in BA, GS, UTX, AAPL and HD. Closing
below 28,000 after closing above for four days last week.
One of eleven sectors was higher on Monday, led by XLP and XLE.
SPY down 2.67 at 311.64 on 75.7 million shares, above average
volume. Down on higher volume.
VIX up 2.29 at 14.91
Oil up .57 at 55.99
TLT down 2.11 at 138.31 on 17.7 million shares
GLD down .07 at 137.79
KO, PG, XOM led the DJIA, 6 advancers
XEC, EIX, MRO led the SPX, 95 advancers
TSLA, KHC, ULTA, ORLY led the NDX, 12 advancers
Long term up
trend intact. 3-day short term trend is down.
Up:
Down: DIA,
SPY, QQQ, IWM,
Breadth weakened
on Monday as decliners led 2,142 to 818 on the NYSE
and led 2,272 to 894on the NASDAQ
The SPX
MFC green line is above 80, but turned down at 94 and is counter-trend
defensive.
Uptrend sectors: XLK, XLV, XLC, XLP, XLF, XLI, XLB,
Neutral sectors:
XLY, XLE, XLU, XLRE,
Down trend sectors:
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 Trend: down
12 of 100 NDX stocks
closed higher on Monday.
64 NDX stocks are above their 30 DMA: AAPL, CTXS, ALGN, CELG,
CHTR, NVDA, SWKS, TSLA, INTC, ISRG, ORLY, AMGN, REGN, FAST, NTES,
PCAR, SIRI, AMD, INCY, VRTX, ISRG, NTAP, WBA, FOXA, BIIB, ALXN, FB, MAR,
AMAT, AVGO, BMRN, MSFT, NFLX, CHKP, NXPI, HSIC, ADBE, ADSK, CTSH, BIDU,
CDNS, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, WDAY, MELI, CERN, ILMN, GILD,
ADI, AMZN, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 13
ASML, ATVI, GOOGL, JD, MCHP, MU,
SNPS, TCOM, TTWO, TXN, UAL, VRSN, WYNN,
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