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SPY opened flat and closed lower on a pause/pullback day
after a broad rally on Monday. Big tech
stocks TSLA, AAPL, FB, AMZN and MSFT pulled back and volatility rose.
NDX -223.00, -1.68%, a pullback to below the high of the
low day, bull flag setup.
SPX -31.53, -0.81%, closed
at 3,870, a pause day and a bull flag
bounce continuation setup.
TSLA -4.45%, was a pullback
below the high of the low day.
One of
eleven
sectors was higher on Tuesday, led XLB,
XLP and XLV.
SPY down 3.04 at 386.54 on 79.5 million shares, above average volume, down on lower volume.
VIX up .75 at 24.10
DOW, MRK, KO, MMM led the DJIA, 9 advancers, -19
NLSN, CCL, F, NCLH led the SPX, 196 advancers.
FOXA, BIDU, GILD, LULU led the NDX, 15 advancers.
The two-year trend term is up. The one-year trend is up.
Up:
Down: DIA, SPY, QQQ, IWM,
Advancers weakened on Tuesday as decliners led 1,865 to 1,391 on the NYSE and led 2,979 to 1,119 on the NASDAQ.
The SPY MFC green line
turned down to 68.9 and is defensive. Price action is a bull flag bounce continuation.
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 down a little.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
15 of 100 NDX stocks
closed higher on Tuesday.
36 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, AVGO,
INTU, KLAC, LRCX, MCHP, NXPI, ATVI, CTAS, FAST, ORLY, PYPL, ROST, TEAM, TXN,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 10
ADI, ASML, ILMN, JD,
MSFT, MTCH, MXIM, NFLX, PDD, ZM,
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1 comment:
Thanks for putting this together, Dave! Very helpful.
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