©
2020
NDX +161.116, +1.43%, was a
bounce continuation. The rally was led by strength in TSLA, NFLX,
AMZN, MSFT, GOOGL, CMCSA and NVDA.
SPX +17.66, +0.51%, closes
at 3,401. SPX is a bull flag bounce continuation.
FOMC meets
for its second day on Wednesday with a rate announcement, expected that
rates will remain unchanged, at 2 pm ET.
Traders need to be prepared on Wednesday for a bounce
continuation or a pull back to support.
Eight
of eleven
sectors were higher on Tuesday, led by XLC,
XLRE and XLK.
Communication Services leaders: NFLX, ATVI, TMUS, CMCSA
Real Estate leaders: SLG, KIM, SPG, SBAC
Technology leaders: QRVO, FISV, NOW, QCOM
SPY up +1.71 at 340.17 on 52.9 million shares, below average volume, up
on lower volume.
VIX down -.26 at 25.59
CRM, DOW, HD led the DJIA, 17 advancers, -8
QRVO, OXY, AVY, SLG led the SPX, 284 advancers
TSLA, ALXN, MRNA, NFLX led the NDX, 80 advancers
The two-year trend term is up. The one-year trend is up.
Up: QQQ, SPY, IWM, DIA,
Down:
Breadth weakened on Tuesday
as advancers led 1,653 to 1,365 on the NYSE and
led 1,838 to 1,569 on the NASDAQ
The SPY MFC green line
turned up at 42 and is short-term
bullish. Price action is a bull flag
bounce continuation.
Uptrend sectors: XLB, XLY, XLI, XLK, XLP, XLC, XLV,
Neutral sectors: XLRE, XLF, XLU,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The
ten-day trend is down.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
80 of 100 NDX stocks
closed higher on Tuesday.
44 NDX stocks are above their 30 DMA: CMCSA, ORLY, CPRT, CSX, SBUX, AVGO, ULTA, MAR,
EXPE, FOXA, JD, WDAY, ZM, ALXN, ALGN, MDLZ, NVDA, PAYX, TSLA, CTAS,
CTSH, INTC, NXPI, QCOM, WDC, ADBE, AMGN, ANSS, CHTR, COST, ISRG, MNST, MU,
ROST, SGEN, TCOM, BIDU, CDW, MRNA, SNPS, TMUS, TXN, VRSK, XEL,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 8
BIDU, CDW, MRNA, SNPS,
TMUS, TXN, VRSK, XEL,
Moving Below 30 DMA = 1
CERN,
Add Comments
here:
1 comment:
I appreciate you, Dave!
Post a Comment