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SPY, QQQ, DIA gapped higher, filled the gap, traded in a range and closed flat
for Monday. SPY, QQQ paused after
their bull flag bounce on Friday. DIA,
IWM are still bull flag setups.
Retail earnings kick off with HD and WMT before the open
on Tuesday.
RIVN +19.41, +14.94% fourth trading day.
DLTR +16.15, +14.28% breaks out of five year trading range and makes all-time high after report that activist investor Mantle Ridge has a
$1.8B position. DB, RS Capital upgrade
and raise price target while MS, UBS, Loop Capital, Evercore ISI raise their
price targets on the stock.
Monday: trading range
Tuesday: HD, WMT eps BMO, Retails Sales 8:30 am ET
Wednesday: LOW, TGT, TJX eps BMO, CSCO, NVDA eps AMC
Thursday:
AMAT, ROST eps
AMC
SPX closed at 4,682, and NDX closed at 16,189
SPY up .16 at 467.43, on 46.9 million shares, below average volume, up on lower volume.
VIX up .20 at 16.49
QQQ down .09, -0.02% at 394.61
BA, CVX, MCD, CSCO led the DJIA, 13 advancers, -6
WYNN, LVS, TSN, ETR led the SPX, 280 advancers.
DLTR, ZM, REGN, MELI led the NDX, 49 advancers.
The two-year trend term is up. The one-year trend is up.
Up: SPY,
Down: DIA, QQQ, IWM,
SPY = bull flag bounce
continuation
DIA = five-day bull flag pattern
QQQ = bull flag bounce pause
IWM = five-day bull flag
pattern
Six of
eleven
sectors were higher, and one was unchanged on Monday, led by XLU, XLE and XLRE.
Utilities leaders: ETR, NRG, ED, WEC
Energy leaders: SWN, CVX, PSX, BKR
Real Estate leaders: DLR,
IRM, EQIX, VNO
Advancers weakened on Monday as decliners led 1,818 to 1,530 on the NYSE and led 2,609 to 2,098 on the NASDAQ.
The SPY MFC green line
is pointed down at 89.2 and is counter-trend defensive. SPY
is a bull flag bounce continuation.
Uptrend sectors: XLY, XLK, XLB, XLI, XLP, XLRE, XLE, XLF,
XLV,
Neutral sectors: XLC, 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
49 of 100 NDX stocks
closed higher on Monday.
71 NDX stocks are above their 30 DMA: TSLA, SGEN, DLTR, PAYX,
ADP, CSX, TEAM, CTAS, MRVL, NTES, PEP, VRSK, XLNX, AMD, MSFT, WDAY, ADSK, ANSS,
AVGO, CPRT, CTSH, EXC, NVDA, AAPL, ADBE, COST, INTU, LULU, CDNS, DXCM, QCOM,
AEP, ISRG, MDLZ, SNPS, CSCO, GOOGL, REGN, ASML, ADI, AMAT, CDW, HON, KDP, KLAC,
NXPI, PTON, ROST, SIRI, CERN, OKTA, VRSN, ALGN, KHC, LRCX, MCHP, MU, AMZN,
VRTX, WBA, MNST, ORLY, MELI, GILD, BIDU, EA, JD, NFLX, TCOM, FB, XEL,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 1
XEL,
Moving Below 30 DMA = 5
AMGN, CRWD, PDD, SPLK, SWKS,
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