Monday, May 10, 2021

Stock Indexes Break Support after US Indicates Concern over Extended Violence in Israel...

 
NDX was lower before the open after C downgraded FB and GOOGL.  Indexes open mixed and traded in a range until a news announcement around 2:14 pm EDT with the US State Department stating the US concerned about the possibility of extended violence in Israel.  After which the broad indexes broke support and traded lower for the balance of the day.
 
DJI -34.94, -0.10%, closed at 34,777.  V, MSFT, AAPL and CRM were the largest point decliners on Monday.
NDX -360.55, -2.63%, closed at 13,359.
SPX -44.17, -1.04%, closed at 4,188.                 
 
TSLA -6.44%, break of short-term support.
 
SPY = BO test.
DIA = intraday high, potential shooting star.
QQQ = break of short-term support.
IWM = channel bounce down to short-term support.
 
Six of eleven sectors were higher on Monday, led by XLE, XLRE and XLI.
 
Utilities leaders: DUK, AWK, ED, LNT
Consumer Staples leaders: KR, CLX, CHD, K
Real Estate leaders: WY, MAA, SPG, IRM
 
SPY down 4.18 at 417.94, on 81.8 million shares, average volume, up on slightly lower volume. 
VIX up 2.97 at 19.66
 
MMM, PG, VZ, WBA led the DJIA, 14 advancers, -9
VTRS, LYV, BDX, KR led the SPX, 224 advancers.
PTON, EBAY, XEL GILD led the NDX, 22 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: DIA, SPY, QQQ, IWM,
 
Advancers weakened on Monday as decliners led 2,243 to 1,105 on the NYSE and led 3,304 to 1,001 on the NASDAQ.
 
The SPY MFC green line turned down at 89.9 and is counter-trend defensive.  SPY is a BO test. 
 
 
Uptrend sectorsXLF, XLI, XLB, XLP, XLV, XLE, XLRE, XLC, XLY, XLU, XLK,
Neutral sectors: 
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
 
22 of 100 NDX stocks closed higher on Monday.
 
36 NDX stocks are above their 30 DMA:   ORLY, AEP, XEL, FAST, CSX, COST, CERN, SBUX, ROST, VRSN, GOOGL, ISRG, CPRT, CHKP, ALXN, IDXX, MRNA, CHTR, MDLZ, CMCSA, KHC, PEP, ADP, BIIB, CTAS, GILD, PAYX, WBA, TMUS, AMGN, CSCO, FOXA, PCAR, REGN, LULU, EBAY,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 1
EBAY,
 
 
Moving Below 30 DMA = 16
AAPL, ALGN, ASML, ATVI, DLTR, EA, FB, LRCX, MSFT, MTCH, MXIM, NTES, NVDA, QCOM, TCOM, WDC,
 
 
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