Tuesday, July 6, 2021

NDX All-time High, SPX Pauses as DJI, RUT Pull Back...Real Estate, Utilities, Tech Lead Sectors...


© 2021
 

The NDX made a new all-time closing high on todayThe SPX pulled back after making a new all-time closing high for seven days in a row.  The DJI also pulled back on Tuesday.
 
Semiconductor stocks, SMH closed -0.03%, and traded in range in its bull flag pattern
 
DJI -208.98, -0.60%, closed at 34,577.  AMGN, GS, CAT and HD were the largest point decliners on Tuesday.
NDX +58.73, +0.40%, closed at 14,786.
SPX -8.80, -0.20%, closed at 4,343.
 
TSLA -2.85%, broke diagonal support in a seven-day pennant, shifting to a bull flag pattern.
 
SPY = Pause forms potential hanging man after an all-time high on Friday.
DIA = Close below the LOHD at 6-week resistance.
QQQ = All-time high.
IWM = Channel bounce down.
 
Four of eleven sectors were higher on Tuesday, led by XLRE, XLU and XLK.
 
Real Estate leaders: EXR, EQIX, MAA, PSA
Utilities leaders: AWK, D, NEE, AEE
Technology leaders: ANET, NLOK, ORCL, TYL
 
 
SPY down .79 at 432.93, on 68.5 million shares, above average volume, down on higher volume.  
VIX up 1.37 at 16.44
 
AAPL, CRM, AXP, V led the DJIA, 8 advancers, -14
GNRC, ABMD, ANET, EXR led the SPX, 152 advancers.
AMZN, DOCU, ZM, OKTA led the NDX, 40 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 2,150 to 1,177 on the NYSE and led 3,014 to 1,407 on the NASDAQ.
 
The SPY MFC green line turned down at 97 and is counter-trend defensiveSPY had a pause day and formed a potential hanging man at its all-time high. 
 
 
Uptrend sectorsXLK, XLC, XLV, XLY, XLRE, XLE, 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 TrendUp
 
40 of 100 NDX stocks closed higher on Tuesday.
 
66 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, 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, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, BIDU, ROST, SIRI, TXN, VRSK, ADP, AMGN, GILD, AVGO, CMCSA, NTES, PEP, AEP, CSCO, SBUX, ASML, CERN, FAST,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 9
AMAT, BIDU, CSCO, CSX, EA, JD, NTES, NXPI, SGEN,
 
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