© 2019
Futures sold off in the
pre-market after the President indicated that it might be better to wait until
after the 2020 election to sign a trade deal with China. The SPX did bounce from its low of the day and
formed a hammer candle pattern. The SPX,
DJI and NDX are set up for a potential channel bounce on
Wednesday.
DJIA closed down 280 at 27,502 led by weakness in GS, AAPL, HD, BA and MMM. Closing
below 28,000 for the second day.
Two of eleven sectors were higher on Tuesday, led by XLRE and XLU.
SPY down 2.09 at 309.55 on 75.1 million shares, above average
volume. Down on similar volume.
VIX up 1.05 at 15.96
Oil up .33 at 56.32
TLT up 2.90 at 141.21 on 13.3 million shares
GLD up 1.32 at 139.11
MRK, VZ, PG led the DJIA, 5 advancers, -1
CCI, TTWO, SLG led the SPX, 132 advancers
TTWO, NTES, ILMN, ALXN led the NDX, 25 advancers
Long term up
trend intact. 3-day short term trend is down.
Up:
Down: IWM, SPY,
DIA, QQQ,
Breadth strengthened
slightly on Tuesday as decliners led 1,804 to 1,137 on the NYSE
and led 1,973 to 1,189 on the NASDAQ
The SPX
MFC green line is above 80, is turned down at 87 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
25 of 100 NDX stocks
closed higher on Tuesday.
57 NDX stocks are above their 30 DMA: AAPL, CTXS, ALGN, CELG,
CHTR, SWKS, TSLA, ISRG, ORLY, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD,
INCY, VRTX, ISRG, WBA, FOXA, ALXN, FB, MAR, AVGO, BMRN, MSFT, NFLX, HSIC,
ADBE, ADSK, CTSH, BIDU, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, WDAY,
MELI, CERN, ILMN, GILD, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK,
KHC, ATVI, GOOGL, TTWO,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
ATVI, GOOGL, TTWO,
Moving Below 30 DMA = 10
ADI, AMAT, AMZN, BIIB, CDNS, CHKP,
INTC, NTAP, NVDA, NXPI,
No comments:
Post a Comment