NDX, SPX Pause as RUT, DJI Bounce...Oil Rises and Energy Leads Sectors...

 
© 2021
 
 
The DJI +53.62, +0.16%, closed at 33,730, a three-day bull flag setup.  GS, CAT, TRV and CVX were the largest point gainers on Wednesday.
 
NDX -182.58, -1.31%, is a breakout test and re-breakout setup.
SPX -16.93, -0.41%, ended at 4,124, a pause day.
 
TSLA -3.95%, a reversal breakout test.
 
SPY = pause day after an all-time high.
DIA = 3-day bull flag.
QQQ = BO test, re-BO setup.
IWM = bull flag bounce
 
 
Five of eleven sectors were higher on Wednesday, led by XLE, XLB and XLF.
 
Energy leaders: FANG, NOV, EOG, OXY
Basic Materials leaders: FCX, MOS, ALB, LYB
Financial leaders: WFC, LNC, UNM, GS
 
SPY down 1.41 at 411.45, on 61.6 million shares, below average volume, down on slightly higher volume. A pause day after an all-time closing high.
VIX up .34 at 16.99
 
GS, TRV, CVX, DOW led the DJIA, 15 advancers, +3
FCX, FANG, NOV, WFC led the SPX, 258 advancers.
MRNA, SGEN, BKNG, INCY led the NDX, 25 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA,
Down: SPY, QQQ,
 
Advancers strengthened on Wednesday as advancers led 1,924 to 1,359 on the NYSE and led 2,283 to 1,925 on the NASDAQ.
 
The SPY MFC green line turned down at 98.2 and is counter-trend defensive.  Perhaps the first price weakness in a potential counter trend bull flag pullback.  Price action is a pause day after an all-time high on Tuesday.
 
 
Uptrend sectors:  XLP, XLI, XLY, XLK, XLB, XLRE, XLC, XLF, XLU, XLV, XLE,
Neutral sectors: 
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: Sideways
 
25 of 100 NDX stocks closed higher on Wednesday.
 
84 NDX stocks are above their 30 DMA:   KHC, ADP, ORLY, CSCO, AEP, XEL, AMAT, EXC, FB, MDLZ, CTSH, WBA, SIRI, TXN, FAST, AMGN, DLTR, PEP, CSX, MNST, COST, ASML, CERN, CDW, NXPI, SBUX, ADBE, BKNG, EBAY, GILD, INTC, KLAC, LRCX, REGN, ROST, SWKS, VRSK, VRSN, EA, TMUS, MRVL, ADI, ADSK, ALGN, ANSS, CDNS, CTAS, GOOGL, ISRG, MCHP, MSFT, MXIM, NVDA, SNPS, AAPL, AMZN, ATVI, AVGO, CPRT, FISV, INTU, MU, NFLX, QCOM, WDAY, CHKP, DXCM, PYPL, TSLA, MELI, PTON, ALXN, DOCU, IDXX, LULU, OKTA, SPLK, MRNA, TEAM, INCY, NTES, PAYX, VRTX, MAR,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
MAR,
 
Moving Below 30 DMA = 6
AMD, MTCH, PCAR, WDC, XLNX, ZM,
 
 
Add Comments here: