IWM Gains 1%+ while SPY, QQQ Gap Up & Pull Back to Form Bearish Engulfing Candles...Energy, Real Estate, Materials Lead Sectors...

 
© 2021
 
 
SPY gapped up and moved to within ten cents of its all-time high on May 7 and within two minutes started pulling back from resistance forming a bearish engulfing candle pattern.  Semiconductor stocks SMH opened higher, traded in a range and closed down 37 cents. 
 
 
DJI +45.86, +0.13%, closed at 34,575.  GS, BA, AXP and CVX were the largest point gainers on Tuesday.
NDX -31.92, -0.23%, closed at 13,654.
SPX -3.07, -0.05%, closed at 4,202.                    
 
TSLA -0.21%, bounce pause.
 
SPY = gapped up, bearish engulfing at all-time resistance.
DIA = ST breakout continuation.
QQQ = bearish engulfing at short-term resistance.
IWM = 3-week breakout continuation.
 
Six of eleven sectors were higher on Tuesday, led by XLE, XLRE and XLB.
 
Energy leaders: DVN, MRO, SWN, APA
Real Estate leaders: SPG, VNO, VTR, HST
Basic Materials leaders: NUE, MOS, LYB, EMN
 
SPY down .37 at 419.67, on 54.1 million shares, below average volume, down on lower volume. 
VIX up 1.14 at 17.90
 
BA, DOW, GS, CVX led the DJIA, 13 advancers, -1
DVN, MRO, SWN, APA led the SPX, 285 advancers.
PDD, JD, BIDU, DLTR led the NDX, 31 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA,
Down: SPY, QQQ,
 
Advancers strengthened on Tuesday as advancers led 2,441 to 940 on the NYSE and led 2,780 to 1,576 on the NASDAQ.
 
The SPY MFC green line is pointed up at 81.1 and is bullish.  SPY gapped up, bearish engulfing at resistance. 
 
 
Uptrend sectors:  XLRE, XLF, XLE, XLB, XLI, XLC, XLP, XLK, XLY, XLV, XLU,
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
 
31 of 100 NDX stocks closed higher on Tuesday.
 
57 NDX stocks are above their 30 DMA:  COST, CERN, ALXN, CHTR, MDLZ, KHC, PEP, TMUS, SGEN, CSCO, PAYX, INTU, WDC, TCOM, NTES, ATVI, FB, MXIM, ADI, ADP, CPRT, GOOGL, IDXX, ILMN, MRVL, NXPI, ZM, ALGN, NVDA, PTON, AMAT, ASML, AVGO, CMCSA, CTAS, EA, KLAC, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, TEAM, MU, SIRI, AMD, EBAY, EXC, QCOM, REGN, XLNX, BIDU, JD, MAR, PCAR, PDD,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 5
BIDU, JD, MAR, PCAR, PDD
 
Moving Below 30 DMA = 8
ADBE, ADSK, BKNG, DXCM, FAST, INCY, SBUX, VRSN,          
 
                                                                                     
Add Comments here: