Tuesday, February 2, 2021

QQQ, DIA, IWM, SPY Rally for Second Day, TSLA Rises...GOOGL, AMZN Jump in After-hours...

 
© 2021
 
 
NDX +207.22, +1.56%, rallied for a second straight day.  SPX +52.45, +1.39%, closed at 3,826, its highest close in five days.  AMZN +10.00, +0.30%, GOOGL +144.76, +7.54%, gained in after-hours trading on positive EPS reactions.
 
TSLA, FB, GOOGL, AMZN and AAPL rose on Tuesday.  TSLA rallied +3.93%.
 
All eleven sectors were higher on Tuesday, led by XLF, XLI and XLY. 
 
Financial leaders: MS, GS, FRC, SYF
Industrials leaders: RTX, GE, HWM, CAT
Consumer Discretionary leaders: EXPE, LVS, LB, KMX
 
SPY up 5.32 at 381.55 on 64.4 million shares, average volume, up on lower volume.
VIX down 4.68 at 25.56
 
GS, CAT, DOW, DIS led the DJIA, 25 advancers, +2
WAT, EXPE, LVS, LB led the SPX, 398 advancers.
WDAY, TEAM, PDD, JD led the NDX, 84 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, DIA, IWM, SPY,
Down:
 
Advancers remained strong on Tuesday as advancers led 2,441 to 763 on the NYSE and led 2,914 to 1,015 on the NASDAQ.
 
The SPY MFC green line is pointed down at 58.5 and is defensive.  Be prepared for a potential bounce in the GL on Wednesday.  Price action is a bounce continuation in a sideways channel.
 
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 sideways.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp
 
84 of 100 NDX stocks closed higher on Tuesday.
 
65 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, TSLA, BIDU, ILMN, CERN, SWKS, NTES, MRVL, AMGN, INTC, PDD, KLAC, EBAY, GILD, WBA, BIIB, FOXA, PCAR, CTAS, EA, GOOGL, MSFT, MRNA, WDC, DXCM, MELI, MU, NFLX, QCOM, ATVI, AAPL, ADI, AEP, ALGN, AMZN, ANSS, CDNS, CDW, CHKP, CSCO, IDXX, INCY, JD, NVDA, NXPI, OKTA, PYPL, SNPS, SPLK, TEAM, TXN, WDAY, ZM, ADBE, CMCSA, FB, EXC, INTU, LRCX, MCHP, MNST, MTCH, TMUS,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 10
ADBE, CMCSA, FB, EXC, INTU, LRCX, MCHP, MNST, MTCH, TMUS,
 
Moving Below 30 DMA = 2
REGN, SIRI,
 
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