© 2020
NDX +158.35, +1.17%, and SPX +58.15, +1.90%. Futures rose Monday night and make a big move
Tuesday morning when the May Retails Sales came in at 17.7% vs. 75%
expected. SPX gapped up and then filled
the gap in the morning before rebounding and finishing higher again.
The SPX,
DJI and NDX each gapped up above their bull flag entry signal.
All
eleven
sectors were higher on Tuesday, led by XLE,
XLV and XLK
SPY up 5.91 at 312.96 on 137.6 million shares, above average volume, up on higher
volume.
VIX down .73 at 33.67
CAT, MRK, BA led the DJIA, 30 advancers, +9
LLY, JWN, KSS, VMC led the SPX, 467 advancers
ROST, ADSK, BIDU, LRCX led the NDX, 88 advancers
The two-year trend term
is up. The one-year trend is up.
Up: IWM, DIA,
SPY, QQQ,
Down:
Breadth strengthened
on Tuesday as advancers led 2,466 to 513 on the NYSE and
led 2,529 to 830 on the NASDAQ
The SPX
MFC green line is pointed down at 68.8 and is counter-trend defensive.
Price action is a 5-day bull flag pullback with bounce.
Uptrend sectors: XLY, XLK, XLV, XLC, XLB, XLI, XLF,
XLRE, XLE,
Neutral sectors:
XLU, XLP,
Down trend sectors:
The 6-month intermediate
trend is sideways. The ten-day trend is sideways.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
88 of 100 NDX stock
closed higher on Tuesday.
87 NDX stocks are above their 30 DMA: AMZN, CDNS, KHC, AVGO,
IDXX, ISRG, KLAC, LULU, MSFT, NVDA, ORLY, SNPS, SWKS, FB, QCOM, AAPL, ADSK,
EBAY, FAST, GOOGL, MCHP, MELI, MNST, PYPL, SPLK, WDAY, ADBE, ALGN, TSLA, BMRN,
VRSK, ZM, AMAT, JD, NTES, TMUS, CTAS, EXPE, FOXA, LRCX, AVGO, BKNG, CDW, CMCSA,
DLTR, MXIM, PCAR, TXN, XLNX, PAYX, EXC, AAL, ALXN, MU, SIRI, TCOM, UAL, REGN,
XEL, NXPI, EA, TTWO, ADP, ATVI, CHTR, CSCO, CSX, CTSH, ILMN, LBTYA, AMD,
ANSS, CPRT, CTXS, DXCM, MDLZ, CERN, CHKP, INTU, MAR, NFLX, NTAP, ROST, SBUX,
SGEN, WBA, WDC,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 11
CERN,
CHKP, INTU, MAR, NFLX, NTAP, ROST, SBUX, SGEN, WBA, WDC,
Moving Below 30 DMA = 0
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