NDX Leads as SPX Pauses at ST Resistance...

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NDX +78.57, +0.85%, opened lower and closed higher to lead the broad indexes on Monday.

SPX +0.52, +0.02%, gapped lower, and traded up to close at Friday’s close, neutral pause day. 

Monday’s price action was a pause at resistance.

SPX is a horizontal resistance breakout setup.

Three of eleven sectors were higher on Monday, led by XLV, XLK and XLC

SPY up 0.06 at 292.50 on 79.5 million shares, below average volume, Up on higher volume.

VIX down .41 at 27.57

PFE, MRK AAPL led the DJIA, 12 advancers, -18

GCI, CAH, ABBV MKTX led the SPX, 449 advancers

ZM, VRTX, AMD BIIB led the NDX, 50 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a HBO setup and the 3-day short term trend is up.

Up: QQQ, SPY,

Down: DIA, IWM

Breadth weakened on Monday as decliners led 1,911 to 1,005 on the NYSE and led 1,816 to 1,469 on the NASDAQ

The SPX MFC green line turned up at 89 and is short-term bullish.  Price action is a bull flag bounce continuation.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB,

Neutral sectors:  XLE, XLU, XLRE, XLI, XLF,

Down trend sectors:

The 6-month intermediate trend is down a little.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

50 of 100 NDX stocks closed higher on Monday.

91 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CTSH, EBAY, FAST, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, ADBE, ALGN, TSLA, BMRN, VRSK, PAYX, MAR, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, CTXS, AMD, ZM, AMAT, JD, MU, NTAP, NTES, XLNX, BIIB, BKNG, FOXA, TMUS, CERN, DLTR, EXC, LRCX, WDC, ALXN, GILD,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

ALXN, GILD,

Moving Below 30 DMA = 2

BIDU, CMCSA,

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