QQQ Closes Higher as SPY, IWM, DIA Close Lower...

© 2021

 
 
NDX +81.13, +0.63%, stayed above Tuesday and Thursday’s support low.
SPX -18.19, -0.48%, closed at 3,811, closing just above Tuesday’s support low.
 
TSLA -0.99%, also stayed above Tuesday’s low.
 
Three of eleven sectors were higher on Friday, led by XLK, XLY and XLC. 
 
Technology leaders: ENPH, MU, AMAT, XLNX
Consumer Discretionary leaders: ETSY, CCL, SBUX, LB
Communication Services leaders: DISCA, VIAC, GCI, CHTR
 
SPY down 1.97 at 380.36 on 152.7 million shares, above average volume, down on higher volume.
VIX down .94 at 27.94
 
MSFT, HD, UNH, INTC led the DJIA, 5 advancers, +2
ETSY, ENPH, CCL, LB led the SPX, 158 advancers.
PTON, SBUX, MRNA, MU led the NDX, 59 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ,
Down: IWM, SPY, DIA,
 
Advancers strengthened on Friday as decliners led 1,896 to 1,370 on the NYSE and led 2,634 to 1,442 on the NASDAQ.
 
The SPY MFC green line is below 80, pointed down to 67.6 and is defensive.  Price action is a potential break of short-term support setup.
 
Uptrend sectors:  XLF, XLC, XLE, XLK, XLY, XLB, XLV, XLI, XLRE,
Neutral sectors:  XLU, XLP,
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: Down
 
59 of 100 NDX stocks closed higher on Friday.
 
32 NDX stocks are above their 30 DMA:   AMAT, BIDU, SWKS, INTC, GOOGL, WDC, DXCM, MU, CDW, CMCSA, IDXX, KHC, MAR, TCOM, BKNG, FOXA, FISV, ADP, PAYX, CSX, CDNS, SBUX, ADI, ASML, AVGO, INTU, KLAC, LRCX, MCHP, MTCH, MXIM, NXPI,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 10
ADI, ASML, AVGO, INTU, KLAC, LRCX, MCHP, MTCH, MXIM, NXPI,
 
Moving Below 30 DMA = 4
BIIB, ILMN, NFLX, ROST,
 
 
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Big Tech Down, Volatility, Yields Rise...SPX Drops to Tuesday's Low...Will it Break or Hold? Be Prepared...

 
© 2021
 
 
SPY moved lower on rising volume in the first 90 minutes of trading.  Heavy selling in big tech stocks, rising volatility and rising yields were key factors in today’s falling market. 
 
NDX -473.88, -3.56%, moved below Wednesday’s low, closed near Tuesday’s low.   SPX -96.09, -2.45%, closed at 3,829, falling to just above Tuesday’s support.
 
TSLA -8.06% reversed Wednesday’s bounce but still above Tuesday’s low.
 
All eleven sectors were lower on Thursday, least negative were XLU, XLV and XLP. 
 
 
SPY down 9.44 at 382.33 on 146.6 million shares, above average volume, down on higher volume.
VIX up 7.55 at 28.89
 
MMM, JNJ, MRK led the DJIA, 3 advancers, -22
FTI, PWR, TWTR, SBAC led the SPX, 48 advancers.
MRNA, TMUS led the NDX, 2 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: DIA, SPY, QQQ, IWM,
 
Advancers weakened on Thursday as decliners led 2,861 to 422 on the NYSE and led 3,596 to 508 on the NASDAQ.
 
The SPY MFC green line is moved below 80 to 75.1 and is defensive.  Price action is a move back to Tuesday support.
 
Uptrend sectors:  XLF, XLC, XLE, XLK, XLY, XLB, XLV, XLI, XLRE,
Neutral sectors:  XLU, XLP,
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: Down
 
2 of 100 NDX stocks closed higher on Thursday.
 
26 NDX stocks are above their 30 DMA:   AMAT, BIDU, ILMN, SWKS, INTC, BIIB, GOOGL, WDC, DXCM, MU, CDW, CMCSA, ROST, IDXX, KHC, MAR, TCOM, BKNG, FOXA, FISV, ADP, PAYX, CSX, NFLX, CDNS, SBUX,
 
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 22
ADI, ALGN, ANSS, ASML, AVGO, CTAS, EBAY, INTU, JD, KLAC, LRCX, MCHP, MSFT, MTCH, MXIM, NVDA, NXPI, ORLY, PYPL, TEAM, TXN, WDAY,
 
 
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DJI New All-time Closing High after Powell Testifies Before Senate...RUT, SPX, NDX Bounce Higher...

 
© 2021
 
 
Futures moved lower before the open, again prior to Fed Chair Powell testifying before the Senate Banking Committee.  Selling had exhausted around 10 am ET when he began to speak, and the markets reversed off their early morning lows.  DJI 31,961, made a new all-time closing high.
 
NDX +107.48, +0.81%, bounced above the HOLD in a channel bounce.   SPX +44.06, +1.14%, closed at 3,925, a bull flag bounce above the HOLD.
 
TSLA +6.18% gapped up and moved above the HOLD in a channel bounce.
 
Nine of eleven sectors were higher on Wednesday, led by XLE, XLF and XLI. 
 
Energy leaders: OXY, EOG, HAL, COG
Financial leaders: PRU, ZION, SYF, RF
Industrials leaders: UAL, BA, AAL, IR
 
SPY up 4.27 at 391.77 on 72.4 million shares, above average volume, up on lower volume.
VIX down 1.77 at 21.34
 
BA, CVX, GS, V led the DJIA, 25 advancers, +9
NCLH, MOS, UAL, OXY led the SPX, 388 advancers.
TSLA, LRCX, AMAT, MAR led the NDX, 62 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Advancers strengthened on Wednesday as advancers led 2,168 to 1,091 on the NYSE and led 2,928 to 1,142 on the NASDAQ.
 
The SPY MFC green line is pointed down at 81.6 and is counter-trend defensive.  Price action is a bull flag bounce.
 
Uptrend sectors:  XLF, XLC, XLE, XLK, XLY, XLB, XLV, XLI, XLRE,
Neutral sectors:  XLU, XLP,
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 a little
 
62 of 100 NDX stocks closed higher on Wednesday.
 
48 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, BIDU, ILMN, SWKS, INTC, KLAC, EBAY, BIIB, CTAS, GOOGL, MSFT, WDC, DXCM, MU, CDW, JD, NVDA, NXPI, PYPL, TEAM, WDAY, CMCSA, INTU, ROST, CTAS, IDXX, MCHP, MTCH, KHC, MAR, TCOM, ADI, LRCX, BKNG, FOXA, MXIM, FISV, ADP, PAYX, CSX, NFLX, ALGN, ANSS, CDNS, ORLY, SBUX, 
 
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
ALGN, ANSS, CDNS, ORLY, SBUX, 
 
Moving Below 30 DMA = 5
ATVI, FB, NTES, OKTA, PDD,
 
 
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SPX Opens Lower, Selling Exhausts and Reverses as FOMC Chair Powell Reports to Congress...

 
© 2021
 
 
Futures moved lower overnight, and the SPX opened lower and sold off sharply reportedly in anticipation of Fed Chair Powell reporting before Congress.  Selling had exhausted around 10 am ET when he began to speak, and the markets reversed off of their early morning lows.  DIA, SPY and IWM are bull flag setups.
 
NDX –29.03, -0.22%, pulled back for a sixth day.   SPX +4.87, +0.13%, closed at 3,881, and formed a hammer candle pattern.
 
TSLA -2.19% gapped lower and fell to 619 before reversing and closing at 698.
 
Eight of eleven sectors were higher on Tuesday, led by XLE, XLU and XLC. 
 
Energy leaders: MRO, HES, PXD, WMB,
Utilities leaders: NRG, EVRG, DTE, XEL
Communication Services leaders: DIS, NFLX, FB, LUMN
 
SPY up .47 at 387.50 on 107.2 million shares, above average volume, up on higher volume.
VIX down .34 at 23.11
 
DIS, V, CVX, VZ led the DJIA, 16 advancers, +2
MRO, WYNN, MGM, VNO led the SPX, 269 advancers.
MAR, MTCH, XEL, NTES led the NDX, 36 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: SPY, DIA,
Down: QQQ, IWM,
 
Advancers weakened on Tuesday as decliners led 1,975 to 1,258 on the NYSE and led 2,953 to 1,146 on the NASDAQ.
 
The SPY MFC green line is pointed down at 82.2 and is counter-trend defensive.  Price action is a six-day bull flag setup near 50% Fib level.
 
Uptrend sectors:  XLF, XLC, XLE, XLK, XLY, XLB, XLV, XLI, XLRE,
Neutral sectors:  XLU, XLP,
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: Down
 
36 of 100 NDX stocks closed higher on Tuesday.
 
48 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, BIDU, ILMN, SWKS, INTC, PDD, KLAC, EBAY, BIIB, CTAS, GOOGL, MSFT, WDC, DXCM, MU, ATVI, CDW, JD, NVDA, NXPI, OKTA, PYPL, TEAM, WDAY, CMCSA, INTU, ROST, CTAS, IDXX, MCHP, MTCH, KHC, MAR, TCOM, ADI, LRCX, BKNG, FOXA, MXIM, FISV, ADP, PAYX, CSX, FB, NFLX, NTES,
 
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
FB, NFLX, NTES,
 
Moving Below 30 DMA = 7
ALGN, ANSS, MRNA, ORLY, PCAR, TXN, ZM,
 
 
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DIS, CAT Lead DJI Higher...RUT, SPX Range Lower, While TSLA, AAPL, MSFT Lead NDX Down...

  
© 2021
 
 
DJI +0.09% rises on Monday, while SPX and NDX close lower and above Thursday’s low.  RUT also closes lower but above Thursday’s low in a bull flag setup.
 
NDX -357.04, -2.63%, pulled back for a fifth day.   SPX -30.21, -0.19%, closed at 3,876, and formed an inverted hammer.
 
TSLA -8.55% broke short-term 3-week support and Thursday’s low and is no longer a MACD bullish divergence setup.
 
Six of eleven sectors were higher on Monday, led by XLE, XLF and XLRE. 
 
Energy leaders: MRO, NOV, APA, EOG,
Financial leaders: PBCT, PFG, UNM, AIG
Real Estate leaders: VNO, SLG, BXP, CBRE
 
SPY down 3.00 at 387.03 on 67.2 million shares, above average volume, down on lower volume.
VIX up 1.40 at 23.45
 
DIS, CAT, DOW, AXP led the DJIA, 14 advancers, +2
PBCT, AAL, RCL VNO led the SPX, 250 advancers.
MAR, VRTX, FOXA, TCOM led the NDX, 15 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA,
Down: IWM, SPY, QQQ,
 
Advancers weakened on Monday as decliners led 1,691 to 1,563 on the NYSE and led 2,535 to 1,531 on the NASDAQ.
 
The SPY MFC green line is pointed down at 86.1 and is counter-trend defensive.  Price action is a five-day bull flag setup near horizontal support.
 
Uptrend sectors:  XLF, XLC, XLE, XLK, XLY, XLB, XLV, XLI, XLRE,
Neutral sectors:  XLU, XLP,
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: Down
 
15 of 100 NDX stocks closed higher on Monday.
 
52 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, BIDU, ILMN, SWKS, INTC, PDD, KLAC, EBAY, BIIB, PCAR, CTAS, GOOGL, MSFT, MRNA, WDC, DXCM, MU, ATVI, ALGN, ANSS, CDW, JD, NVDA, NXPI, OKTA, PYPL, TEAM, TXN, WDAY, ZM, CMCSA, INTU, ROST, CTAS, IDXX, MCHP, MTCH, KHC, MAR, TCOM, ADI, LRCX, BKNG, FOXA, MXIM, FISV, ADP, ORLY, PAYX, CSX,
 
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 12
ADBE, ADSK, CDNS, CPRT, DLTR, DOCU, EA, MELI, MRVL, NFLX, NTES, SBUX,
 
 
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RUT Rises as SPX, NDX, DJI Close Slightly Lower...CAT, ALB, BIDU Lead Indexes...

 
© 2021
 
 
RUT +2.18% rises on Friday, while SPX, DJI and NDX close slightly lower and above Thursday’s low.
 
NDX -56.74, -0.42%, pulled ack for a fourth day and is a bull flag setup.  SPX -7.26, -0.19%, closed at 3,906, and is also bull flag setup.
 
TSLA -077% fell to 3-week closing low, is above Wednesday’s and Thursday’s low and is forming a MACD bullish divergence setup.
 
Five of eleven sectors were higher on Friday, led by XLB, XLE and XLI. 
 
Basic Materials leaders: ALB, FCX, LYB, MOS,
Energy leaders: HFC, VLO, HES, PSX
Industrials leaders: DE, UAL, URI, AAL
 
SPY down .69 at 390.03 on 83.2 million shares, above average volume, down on higher volume.
VIX down .44 at 22.05
 
CAT, DOW, BA, AXP led the DJIA, 12 advancers, -1
ALB, DE, HFC, FCX led the SPX, 292 advancers.
BIDU, AMAT, FOXA, MXIM led the NDX, 48 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM,
Down: DIA, SPY, QQQ,
 
Advancers strengthened on Friday as advancers led 2,131 to 1,084 on the NYSE and led 2,759 to 1,275 on the NASDAQ.
 
The SPY MFC green line is pointed down at 91.5 and is counter-trend defensive.  Price action is potential three-day bull flag.
 
Uptrend sectors:  XLF, XLC, XLE, XLK, XLY, XLB, XLV, XLI, XLRE,
Neutral sectors:  XLU, XLP,
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: Down a little
 
48 of 100 NDX stocks closed higher on Friday.
 
64 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, BIDU, ILMN, SWKS, NTES, INTC, PDD, KLAC, EBAY, BIIB, PCAR, CTAS, GOOGL, MSFT, MRNA, WDC, DXCM, MELI, MU, NFLX, ATVI, ALGN, ANSS, CDNS, CDW, JD, NVDA, NXPI, OKTA, PYPL, TEAM, TXN, WDAY, ZM, ADBE, CMCSA, INTU, ROST, CTAS, DOCU, IDXX, MCHP, MTCH, SBUX, KHC, MAR, TCOM, ADI, EA, LRCX, BKNG, FOXA, MXIM, CPRT, FISV, ADP, ORLY, PAYX, ADSK, CSX, DLTR, MRVL,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
ADSK, CSX, DLTR, MRVL,
 
Moving Below 30 DMA = 11
AEP, ALXN, AMZN, CSCO, EXC, FB, MNST, SNPS, VRSK, VRSN, WBA,
 
 
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