Lower Open, Higher Close Reversal...

© 2020

NDX +113.12, +1.17%, and SPX +25.28, +0.83%.  Futures opened lower Sunday evening and traded lower finding an overnight low.  SPX did open lower but almost immediately after selling exhausted buyers were in control and began to fill the gap down.

The SPX, DJI and NDX are each in a five-day bull flag pullback and setup.

All eleven sectors were higher on Monday, led by XLC, XLF and XLRE

SPY up 2.84 at 307.05 on 135.7 million shares, above average volume, up on lower volume.

VIX down 1.69 at 34.40

RTX, GS, AXP led the DJIA, 21 advancers, -5

VIAC, DXCM, LEN, OKE led the SPX, 389 advancers

ZM, TSLA, EA, FOXA led the NDX, 82 advancers

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

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth remained strong on Monday as advancers led 1,936 to 1,014 on the NYSE and led 2,409 to 938 on the NASDAQ

The SPX MFC green line is pointed down at 71.7 and is counter-trend defensive.  Price action is a 5-day bull flag pullback.

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: Down

82 of 100 NDX stock closed higher on Monday.

76 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, ADI, 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,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

AMD, ANSS, CPRT, CTXS, DXCM, MDLZ,

Moving Below 30 DMA = 1

MAR,  

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