NDX New All-time Closing High as Indexes Pause after Strong 2-day Rally...

 
© 2021
 

 
The NDX broke out to a new all-time closing high for the second day in a row.
 
Semiconductor stocks, SMH moved above Tuesday’s high in a channel bounce. 
 
DJI -71.34, -0.21%, closed at 33,874.  UNH, MMM, IBM and CRM were the largest point decliners on Wednesday.
NDX +3.82, +0.94%, closed at 14,274.
SPX -4.60, -0.11%, closed at 4,241.
 
TSLA +5.27%, a reversal W-pattern channel breakout.
 
 
SPY = Re-BO setup.
DIA = Channel bounce pause.
QQQ = BO to new all-time closing high.
IWM = Bull flag bounce continuation.
 
Three of eleven sectors were higher on Wednesday, led by XLY, XLE and XLF.
 
Consumer Discretionary leaders: TSLA, UAA, F, PVH, LB
Energy leaders: SWN, OXY, COG, DVN
Financial leaders: ICE, RJF, HBAN, CMA
 
 
SPY down .51 at 422.60, on 49.3 million shares, below average volume, down on lower volume.  
VIX down .34 at 16.32
 
DIS, GS, AXP, JPM led the DJIA, 7 advancers, -6
LB, ETSY, CTAS, TWTR led the SPX, 203 advancers.
TSLA, PDD, MELI, MU led the NDX, 44 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ,
Down: SPY, DIA,
 
Advancers were mixed on Wednesday as advancers led 1,716 to 1,565 on the NYSE and led 2,467 to 1,843 on the NASDAQ.
 
The SPY MFC green line turned up at 77.7 and is bullish.  SPY tested Tuesday’s breakout and closed 22 cents below its May 7 resistance. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLRE, XLE, XLY, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
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: Up
 
44 of 100 NDX stocks closed higher on Wednesday.
 
58 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, ASML, AVGO, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, INCY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, FOXA,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 9
ADP, CERN, CHKP, CMCSA, CSCO, SBUX, SIRI, TXN, VRSK,
 
 
Add Comments here: