SPY, QQQ, DIA Continue to Rally...SPX Above 4,500...Health Care, Energy Lead Sectors...QQQ Reaches Divergence Price Target...

 
 
© 2021
 
QQQ, SPY, DIA opened higher and closed higher.  QQQ reached its MACD bullish divergence price target of $374.04 and closed above it.   IWM closed higher as it continued to grind in its sideways channel.
 
Earnings Reactions Q3 beginning Oct 12:
Up: DOV, JNJ, SYF, TRV, ZION, STT, GS, JBHT, PLD, SCHW, TFC, BAC, MS, UNH, WBA, BLK, FRC, FAST
Neutral: BK, FITB, HAL, KSU, C, DPZ, PGR
Down: PM, PG, PNC, USB, DAL, JPM
Week 1 = 19, Week 2 = 77
 
63% of the SPX stocks had positive earnings reaction last week, a positive first week to Q3 earnings season.
    
 
SPX closed at 4,519 and NDX closed at 15,410.
 
SPY up 3.45 at 450.64, on 46.9 million shares, below average volume, up on lower volume.  
VIX down .61 at 15.70
QQQ up 2.82, +0.76% at 375.47
 
 
MRK, JNJ, WMT, CVX led the DJIA, 23 advancers, +13
PENN, D, ENPH, EW, DE led the SPX, 368 advancers.
BIDU, JD, FOXA, VRTX led the NDX, 76 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: SPY, QQQ, DIA, IWM,
Down:
 
SPY = channel bounce continuation
DIA = channel bounce continuation
QQQ = reaches MACD divergence bounce target and breaks out
IWM = channel bounce up
 
Ten of eleven sectors were higher on Tuesday, led by XLV, XLU and XLE.
 
Health Care leaders: EW, SYK, BSX, MRK
Utilities leaders: D, ATO, FE, SRE
Energy leaders: VLO, PSX, SWN, HFC
 
Advancers strengthened on Tuesday as advancers led 1,874 to 1,405 on the NYSE and led 2,779 to 1,724 on the NASDAQ.
 
The SPY MFC green line is pointed up at 65.7 and is bullish.  SPY is a mid-channel breakout continuation. 
 
 
Uptrend sectors:  XLY, XLE, XLF, XLK, XLI, XLB, XLRE, XLC, XLV,
Neutral sectors:  XLP, 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
 
76 of 100 NDX stocks closed higher on Tuesday.
 
66 NDX stocks are above their 30 DMA:  NFLX, TSLA, BKNG, MTCH, MAR, FOXA, SGEN, TCOM, KHC, DLTR, PAYX, ADP, CSX, ORLY, TEAM, CTAS, MRVL, NTES, PEP, VRSK, EBAY, KDP, XLNX, BIDU, JD, SPLK, CHKP, AMD, CRWD, MSFT, WDAY, ADSK, ANSS, AVGO, CPRT, CTSH, EXC, GOOGL, INTC, NVDA, OKTA, XEL, ADI, AMZN, FISV, HON, TXN, VRSN, AAPL, ADBE, COST, DOCU, INTU, LULU, PDD, ZM, AMAT, ATVI, CDNS, CDW, DXCM, PYPL, QCOM, SBUX, VRTX,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 9
AMAT, ATVI, CDNS, CDW, DXCM, PYPL, QCOM, SBUX, VRTX,  
 
Moving Below 30 DMA = 0
 
 
 
Add Comments here: