SPX Bullish Harami, Ready to Bounce?

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NDX +111.80, +1.14% and SPX +44.19, +1.76% SPX opened higher and closed higher.  SPX formed a bullish harami at support on the daily chart.  Prepare for a potential bounce.

All eleven sectors were higher on Monday, led by XLI, XLB and XLY

Industrial leaders:  BA, LUV, ALK, AAL

Materials leaders:  MOS, SEE, WRK, IP

Consumer Discretionary leaders:  KSS, LB, PVH, RCL

SPY up 4.41 at 304.46 on 79.7 million shares, below average volume, up on lower volume.

VIX down 2.95 at 31.78

BA, RTX, DOW led the DJIA, 29 advancers, +28

COTY, KSS, SPG, LUV led the SPX, 56 advancers

MAR, EXPE, TSLA CDW led the NDX, 76 advancers

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

Up: IWM, DIA, SPY, QQQ,

Down:

Breadth strengthened on Monday as advancers led 2,272 to 718 on the NYSE and led 2,272 to 1,143 on the NASDAQ

The SPX MFC green line is pointed down at 63 and is defensive.  Price action higher open, higher close bullish harami candle pattern.

Uptrend sectors:  XLY, XLK, XLC, XLB, XLI, XLRE,

Neutral sectors:  XLV, XLF, XLU, XLP, XLE,

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: Sideways

76 of 100 NDX stock closed higher on Monday.

64 NDX stocks are above their 30 DMA:  AMZN, CDNS, ASML, IDXX, KLAC, MSFT, NVDA, SNPS, SWKS, QCOM, AAPL, ADSK, EBAY, FAST, MCHP, MELI, PYPL, SPLK, WDAY, ADBE, ALGN, TSLA, BMRN, CSGP, ZM, AMAT, JD, NTES, TMUS, BIDU, ADI, AVGO, DLTR, MXIM, TXN, LRCX, REGN, NXPI, EA, TTWO, ATVI, ILMN, ANSS, NFLX, SGEN, VRTX, AMGN, INCY, DOCU, CTSH, CSCO, CTXS, ADP, CDW, CTAS, DXCM, GILD, INTU, KHC, MU, ORLY, PAYX, PCAR, PEP,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 12

ADP, CDW, CTAS, DXCM, GILD, INTU, KHC, MU, ORLY, PAYX, PCAR, PEP,

Moving Below 30 DMA = 1

ALXN,

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