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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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1 comment:
Excellent thanks as always. Incredible market we are having!
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