©
2020
Small caps fell on Monday after being last weeks leading group. QQQ, DIA made new all-time closing
highs and SPY made a new all-time intra-day high.
NDX +127.85, +1.01%, on Monday is a breakout to an
all-time high.
SPX +13.05, +0.35%, closed
at 3,735, is a breakout to an all-time high.
TSLA rose +0.29%, on Monday
and is a bull flag bounce continuation.
Nine
of eleven
sectors were higher on Monday, led by XLC,
XLY and XLK.
Communication Services leaders: LYV,
FB, DISCA, DIS
Consumer Discretionary leaders: ULTA,
CCL, ROST, NCLH
Technology leaders: AAPL, XRX, MA, V
SPY up 3.17 at 372.17 on 39.0
million shares, below average volume, up on higher volume.
VIX up 0.17 at 21.70
AAPL, DIS, V, UNH led the DJIA, 23 advancers, +5
ULTA, CTAS, LYV, CCL led the SPX, 299 advancers
CTAS, ROST, FB, AMZN led the NDX, 47 advancers
The two-year trend term is up. The one-year trend is up.
Up: QQQ, SPY, DIA,
Down: IWM,
Advancers were mixed on Monday as advancers led 1,658 to 1,510 on the NYSE and led 1,977 to 1,827 on the NASDAQ
The SPY MFC green line
turned up at 83.4 and is bullish. Price action is a horizontal breakout setup.
Uptrend sectors: XLU, XLB, XLI, XLY, XLP, XLV, XLF,
XLC, XLK, XLE,
Neutral sectors: XLRE,
Down trend sectors:
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
47 of 100 NDX stocks
closed higher on Monday.
75 NDX stocks are above their 30 DMA: ADP, ALGN, NXPI, KLAC, LRCX, TXN, ADI, AMAT,
CTSH, FAST, MCHP, MU, MXIM, SBUX, ASML, INTU, MNST, TMUS, WDC, ROST,
CSCO, AVGO, MELI, ADSK, KHC, AMD, TSLA, DLTR, PYPL, VRTX, AAPL, ADBE, ANSS,
ATVI, BIDU, CDNS, EA, GILD, ILMN, ISRG, SNPS, VRSN, NFLX, DOCU, CHKP, SGEN, CERN,
DXCM, IDXX, CPRT, ALXN, AMZN, INCY, QCOM, PAYX, SWKS, MSFT, ORLY, WDAY, NTES,
VRSK, MRVL, MTCH, OKTA, PTON, TEAM, BKNG, MAR, MDLZ, PEP, CMCSA, EXC,
FB, FOXA, GOOGL,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 5
CMCSA, EXC, FB, FOXA,
GOOGL,
Moving Below 30 DMA = 5
BIIB, CHTR, PDD, QCOM,
XLNX,
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5 comments:
Much appreciated, Dave! Thank you for the time you take to share this information each day. Taking some days off, so it’s great to get a non Fake News recap!
Hi Dave
The numbers given for the Market Forecast Green line are not the same as those on the TOS platform. Can you please help clarify the discrepancies. For example, for Monday the blog says the green line is pointed up at 83.4 but on the TOS chart it was pointed down at 65.71
thank you
Susan
Ben...you're welcome...great time to get some relaxation, Enjoy...see you after the holidays...Dave
Hi Bruce and Susan...great to hear from you again...Compare your SPY and SPX chart high for Dec 21, does the SPY upper shadow look right to you? I'm using a 368.81 on Dec 21, you can edit the candle on TOS. If you do, you'll likely get the same reading as I have. Thanks for asking. Happy Holidays, hope you had a great 2020...Dave
Hi Dave
Thank you for your e-mail. We will do as you have recommended. The SPY upper shadow on Dec 21 does not look right but did not realize the candles could be edited. If you keep an open mind, you can always learn something new everyday.
Also, thank you for doing your postings each day. We read all of them.
Would like to wish you and your family a Happy New Year 2021.
Best regards
Bruce & Susan
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