© 2020
NDX +77.13, +0.79%, and SPX
+38.46, +1.20%,
rose on Monday for the sixth time in seven days. The NDX closed at a new all-time high for
the second straight day on a breakout continuation move.
The SPX
is also a breakout continuation move, after breaking above its Mar 3
intermediate-term resistance on Friday.
The
FOMC begins the 2-day June meeting on Tuesday.
All
eleven
sectors were higher on Monday, led by XLE,
XLU and XLRE
SPY up 3.86 at 322.58 on 73.6 million shares, below average volume, up on lower volume.
VIX up 1.29 at 25.81
BA, DOW, WBA led the DJIA, 24 advancers, -4
FOSL, COTY, NCLH ALK led the SPX, 394 advancers
UAL, AAL, TSLA, FOXA led the NDX, 70 advancers
The two-year trend term
is up. The one-year trend is up.
Up: IWM,
DIA, SPY, QQQ,
Down:
Breadth continued strong on Monday as advancers led 2,439 to 545 on the NYSE and
led 2,511 to 844 on the NASDAQ
The SPX
MFC green line is pointed up at 97 and is short-term bullish.
Price action is a breakout continuation.
Uptrend sectors: XLY, XLK, XLV, XLC, XLB,
Neutral sectors:
XLI, XLE, XLF, XLRE, XLU, XLP,
Down trend sectors:
The 6-month intermediate
trend is sideways. The ten-day trend is up.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
70 of 100 NDX stocks
closed higher on Monday.
88 NDX stocks are above their 30 DMA: AMZN, CDNS, CSCO, ILMN,
KHC, AVGO, CHTR, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, SNPS, SWKS,
ADI, FB, QCOM, SBUX, AAPL, ADSK, EBAY, FAST, GOOGL, INTU, LBTYA, MCHP, MELI,
MNST, PYPL, SPLK, WDAY, ADBE, ALGN, TSLA, BMRN, VRSK, FISV, CPRT, ZM, AMAT, JD,
NTES, TMUS, CHKP, CSX, CTAS, EXPE, FOXA, INTC, LRCX, ADI, ANSS, AVGO, BKNG,
CDW, CMCSA, CSX, DLTR, INTC, MAR, MXIM, NXPI, PCAR, ROST, TXN, XLNX, PAYX,
ULTA, WDC, EXC, AAL, ALXN, MU, SIRI, TCOM, UAL, ADP, CERN, COST, MDLZ, REGN,
XEL, WBA, NXPI, NTAP, EA, ATVI, TTWO, VRSN,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
ATVI,
TTWO, VRSN,
Moving Below 30 DMA = 1
BIIB,
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