©
2020
NDX -206.09, -1.74%, opened lower, and fell to old resistance, now new support, closing below Monday’s low. A channel bounce down continuation move.
SPX -4.97, -0.14%, closes at 3,545, pulled back on Tuesday and formed a one-day bull flag price pattern and a hammer candle.
A stock rotation into Energy, Industrial and other open economy stocks and out of Tech continued on Tuesday.
Eight of eleven sectors were higher on Tuesday, led by XLE, XLP and XLI.
Energy leaders: SWN, COP, CXO, KMI
SPY down 0.52 at 354.04 on 85.5 million shares, average volume, down on lower volume.
VIX down 0.95 at 24.80
WBA, BA, CVX, MMM led the DJIA, 22 advancers, -1
The two-year trend term is up. The one-year trend is up.
Up: IWM, DIA,
Advancers strengthened on Tuesday as advancers led 2,044 to 1,015 on the NYSE and led 2,122 to 1,441 on the NASDAQ
The SPY MFC green line is pointed up at 79.6 and is bullish. Price action is a close below resistance.
Uptrend sectors: XLU, XLB, XLI, XLY, XLC, XLP, XLV, XLK,
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 Trend: Up
33 of 100 NDX stocks closed higher on Tuesday.
59 NDX stocks are above their 30 DMA: IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, ADSK, CDW, CERN, CPRT, KLAC, LRCX, PCAR, TXN, XEL, ADI, AMAT, CTSH, DLTR, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ALXN, ASML, BKNG, CTAS, FB, FISV, INCY, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, AMGN, CMCSA, ROST, ULTA, CHTR, CSCO, LBTYA, MDLZ, ORLY, PEP,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 6
Moving Below 30 DMA = 10
AMD, AVGO, CDNS, JD, MELI, MSFT, NVDA, SNPS, VRSN, WDAY,
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NDX -206.09, -1.74%, opened lower, and fell to old resistance, now new support, closing below Monday’s low. A channel bounce down continuation move.
SPX -4.97, -0.14%, closes at 3,545, pulled back on Tuesday and formed a one-day bull flag price pattern and a hammer candle.
A stock rotation into Energy, Industrial and other open economy stocks and out of Tech continued on Tuesday.
Eight of eleven sectors were higher on Tuesday, led by XLE, XLP and XLI.
Energy leaders: SWN, COP, CXO, KMI
SPY down 0.52 at 354.04 on 85.5 million shares, average volume, down on lower volume.
VIX down 0.95 at 24.80
WBA, BA, CVX, MMM led the DJIA, 22 advancers, -1
The two-year trend term is up. The one-year trend is up.
Up: IWM, DIA,
Advancers strengthened on Tuesday as advancers led 2,044 to 1,015 on the NYSE and led 2,122 to 1,441 on the NASDAQ
The SPY MFC green line is pointed up at 79.6 and is bullish. Price action is a close below resistance.
Uptrend sectors: XLU, XLB, XLI, XLY, XLC, XLP, XLV, XLK,
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 Trend: Up
33 of 100 NDX stocks closed higher on Tuesday.
59 NDX stocks are above their 30 DMA: IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, ADSK, CDW, CERN, CPRT, KLAC, LRCX, PCAR, TXN, XEL, ADI, AMAT, CTSH, DLTR, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ALXN, ASML, BKNG, CTAS, FB, FISV, INCY, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, AMGN, CMCSA, ROST, ULTA, CHTR, CSCO, LBTYA, MDLZ, ORLY, PEP,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 6
Moving Below 30 DMA = 10
AMD, AVGO, CDNS, JD, MELI, MSFT, NVDA, SNPS, VRSN, WDAY,
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