Tuesday, March 16, 2021

IWM, DIA, SPY Pullback Ahead of FOMC Announcement...QQQ Continues Channel Bounce Rally...

 
© 2021
 
The DJI -127.51, -0.39% closed at 32,825.  BA, HON, GS and CAT led the point loss on Tuesday.
 
NDX +69.74, +0.53%, continued its channel bounce on Tuesday.
SPX -6.23, -0.16%, closed at 3,962, a new intraday high and small pullback.
 
TSLA -4.39%, continued in a tight range for the fifth day.
 
Four of eleven sectors were higher on Tuesday, led XLC, XLK and XLU.
 
Communication Services leaders: FOXA, DISCA, CHTR, TTWO
Technology leaders: MU, LRCX, WDC, AVGO
Utilities: NI, AEP, FE, ETR
 
SPY down .50 at 395.91 on 73.7 million shares, below average volume, down on similar volume.
VIX down .24 at 19.79
 
AMGN, INTC, AAPL, HD led the DJIA, 14 advancers, -5
ALLE, DISCA, CPB, RMD led the SPX, 151 advancers.
MRNA, FOXA, AMAT MU led the NDX, 58 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ,
Down: SPY, DIA, IWM,
 
Advancers weakened on Tuesday as decliners led 2,157 to 1,122 on the NYSE and led 2,899 to 1,241 on the NASDAQ.
 
The SPY MFC green line is pointed up, rose 4 to 92.1 and is bullish.  Price action is an intraday new high and small pullback to a lower close.
 
 
Uptrend sectors XLF, XLE, XLI, XLC, XLB, XLK, XLY, XLV,
Neutral sectors:  XLRE, 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 TrendUp
 
58 of 100 NDX stocks closed higher on Tuesday.
 
45 NDX stocks are above their 30 DMA:   WDC, CDW, CMCSA, KHC, MAR, TCOM, BKNG, FOXA, FISV, ADP, SBUX, ORLY, CSCO, CSX, CTAS, INTC, PAYX, TMUS, AEP, DLTR, ROST, XEL, AMAT, EXC, FB, MDLZ, PCAR, CHTR, CTSH, WBA, MU, NXPI, SIRI, TXN, VRTX, FAST, AMGN, AVGO, CHKP, MNST, REGN, GOOGL, MSFT, PEP, SWKS,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 4
GOOGL, MSFT, PEP, SWKS,
 
Moving Below 30 DMA = 1
INTU,
 
 
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1 comment:

Ben W. said...

Thanks so much for putting this information together each night, Dave.