Monday, October 12, 2020

NDX, SPX Gap and Run as AAPL, AMZN, FB, GOOGL and NVDA Break Above Short-term Resistance...Earnings Season Starts Tuesday BMO...

 © 2020
 
Earnings season unofficially starts Tuesday before the open with JPM, C, JNJ, DAL FAST, BLK, FRC reporting.
 
NDX +362.26, +3.09%, gapped up and trended higher on Monday.  The rally was led by strength in AAPL, AMZN, MSFT, FB, GOOGL, NVDA and TSLA. 
 
SPX +57.09, +1.64%, closes at 3,534SPX gapped up at the open and trended higher closing below its high of the day and is breakout continuation.
 
Ten of eleven sectors were higher on Monday, led by XLK, XLC and XLY.
 
Technology leaders: AAPL, CTXS, NVDA, ANSS
Communication Services leaders: TWTR, FB, DISH, ATVI
Consumer Discretionary leaders: AMZN, DLTR, ORLY, TPR
 
SPY up +5.58 at 352.43 on 80.3 million shares, average volume, up on higher volume.
VIX up +0.07 at 25.07
 
AAPL, GS, MSFT, CAT led the DJIA, 23 advancers, +4
F, TWTR, FB, IP led the SPX, 372 advancers
PDD, JD, AMZN, IDXX led the NDX, 94 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, IWM,
Down:
 
Breadth strengthened on Monday as advancers led 1,859 to 1,167 on the NYSE and led 2,162 to 1,344 on the NASDAQ
 
The SPY MFC green line is pointed up at 61 and is bullish.  Price action is a breakout continuation.
 
Uptrend sectors XLY, XLB, XLP, XLK, XLC, XLV, XLI, XLU,
Neutral sectors:  XLRE, XLF,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp
 
94 of 100 NDX stocks closed higher on Monday.
 
96 NDX stocks are above their 30 DMA:   AVGO, ZM, ALXN, SGEN, WDAY, CDW, CHTR, CPRT, CTAS, CTSH, FISV, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, TCOM, ADP, BIIB, COST, FOXA, LRCX, SWKS, TXN, XLNX, AMD, KLAC, BIDU, DOCU, NFLX, NXPI, ROST, XEL, SIRI, AMAT, CERN, EXC, MCHP, MELI, MXIM, PCAR, REGN, SPLK, ADBE, ADI, ALGN, ANSS, ASML, BMRN, CDNS, CHKP, CSX, FAST, ILMN, INCY, INTU, ISRG, JD, LULU, MU, PEP, PYPL, TMUS, TSLA, WBA, WDC, ADSK, AMZN, BKNG, CSCO, DLTR, EXPE, ULTA, VRSK, VRSN, VRTX, AAPL, CTXS, EBAY, LBTYA, MDLZ, MNST, MSFT, ATVI, CMCSA, EA, FB, GILD, GOOGL, KHC, MAR, PDD, TTWO,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 10
ATVI, CMCSA, EA, FB, GILD, GOOGL, KHC, MAR, PDD, TTWO,
 
Moving Below 30 DMA = 0
 
 
 
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