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The four-month
and four-week trends are up, but the SPX -29.82, -0.94% did not have enough buying today to break through early June resistance. SPX opened higher, rallied to resistance, and then closed lower, forming a dark cloud cover candle pattern.
NDX -234.13, -2.16% and SPX both finished lower on Monday. NDX made a new all-time high before
reversing, forming a bearish engulfing candle pattern and closing lower.
Is this
a one-day counter-trend pullback or the start of a multi-day bull
flag pullback? Be prepared for either a bounce or pullback continuation on Tuesday.
PEP +0.45, +0.33% gapped up this morning on a positive EPS reaction before
filling the gap as the market pulled back Monday afternoon.
JPM,
C, WFC, DAL, FAST and FRC report EPS Tuesday morning before the open
to start earnings season.
TSLA,
NFLX, AAPL, AMZN, FB, GOOGL, EBAY, ZM and SPLK each made a new
intraday high on Monday and closed lower.
Four of eleven sectors were higher on Monday, led
by XLV, XLF and XLI
Health Care
leaders: PFE, LH, PKI, UNH
Financial leaders: ZION, HBA, RF, FLS
Industrials
leaders: TXT, DE, URI, KSU
SPY down 2.75 at 314.84 on 102.9 million shares, average volume, down on
higher volume.
VIX up 4.90 at 32.19
PFE, UNH, CAT led the DJIA, 17 advancers, -10
WYNN, MHK, LVS, MOS led the SPX, 222 advancers
MXIM, CSX, CTSH, NTAP led the NDX, 16 advancers
The two-year trend term
is up. The one-year trend is up.
Up: DIA,
Down: SPY, IWM, QQQ,
Breadth weakened on
Monday as decliners led 1,897 to 1,094 on the NYSE and led 2,401 to 1,025 on the NASDAQ
The SPX
MFC green line is turned down at 70 and is defensive.
Price action is a breakout re-test.
Uptrend sectors: XLK, XLY, 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 up.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
16 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, EBAY, FAST, MCHP, MELI, PYPL, SPLK,
WDAY, ADBE, ALGN, TSLA, BMRN, ZM, AMAT, JD, NTES, BIDU, AVGO, MXIM, TXN, LRCX, REGN,
NXPI, EA, TTWO, ATVI, ILMN, ANSS, NFLX, SGEN, VRTX, AMGN, DOCU, CTXS, DXCM,
INTU, PEP, VRSK, XLNX, CHKP, COST, FB, GOOGL, LBTYA, MNST, CHTR, BKNG, CSCO, CMCSA,
CTSH, GILD, KHC, PCAR, DLTR,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 1
DLTR,
Moving Below 30 DMA = 11
ADI,
ADSK, AMD, CSGP, INCY, ISRG, LULU, MU, ORLY, TMUS, VRSN,
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