SPX Open Lower, Close Higher...Day 3 Bull Flag Setup...

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The SPX +12.03, +0.42%, opened lower, formed an intraday reversal pattern and closed higher.  The SPX is a three-day bull flag setup and horizontal re-breakout setup.

Six of eleven sectors were higher on Monday, led by XLE, XLK and XLU

SPY up .78 at 283.57 on 80.8 million shares, below average volume, Up on lower volume.

VIX down 1.22 at 35.97

XOM, MSFT, CVX led the DJIA, 13 advancers, +12

PSX, SWN, VLO, MPC led the SPX, 249 advancers

TSLA, SGEN, AMD, VRTX led the NDX, 71 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 bull flag setup and the 3-day short term trend is down.

Up: QQQ, IWM, SPY, DIA

Down:

Breadth strengthened on Monday as decliners led 1,567 to 1,370 on the NYSE and advancers led 1,765 to 1,497 on the NASDAQ

The SPX MFC green line turned down at 90 and is a bull flag and counter-trend defensive.

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

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

71 of 100 NDX stocks closed higher on Monday.

82 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, 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, TMUS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, DLTR, CTXS, AMD, ZM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

AMD, ZM,

Moving Below 30 DMA = 4

CMCSA, MDLZ, MU, NTAP,

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