QQQ, DIA, IWM, SPY Form Channel Low Day Before Rising...Tech, Communication, Discretionary Lead Sectors...Heart of Earnings Season this Week...

 
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This is the heart of earnings season with 179 SPX 500 companies reporting this week, and reports from heavy weight stocks MSFT, GOOGL on Tuesday AMC, FB on Wednesday AMC and AAPL, AMZN on Thursday AMC.
 
Indexes opened lower and traded in a volatile range most of the day until a rally during the last two hours lifted QQQ, DIA, IWM and SPY, which formed piercing line candle patterns and closed higher after being the low day in a sideways channel.
 
SPY up 2.47 at 428.51, on 119.6 million shares, above average volume, up on lower volume
VIX down 1.19 at 27.02
QQQ up 4.18 at 329.58.
 
JNJ, MSFT, AXP, CRM led the DJIA, 22 advancers, +22
GPS, TWTR, PENN, EFX led the SPX, 290 advancers.
MRNA, MTCH, MELI, FTNT led the NDX, 87 advancers.
 
The two-year trend term is up.  The one-year trend is up.
  
Up:  QQQ, DIA, IWM, SPY,
Down:  
 
Six of eleven sectors were higher on Monday, led by XLK, XLC and XLY. 

Technology leaders:  FTNT, CDAY, WDC, TRMB
Communication Services leaders:  MTCH, TWTR, LYV, GOOG
Consumer Discretionary leaders:  GPS, PENN, PHM, DHI, LEN 
 
Advancers strengthened on Monday as decliners led 1,714 to 1,635 on the NYSE and advancers led 2,688 to 1,115 on the NASDAQ.
  
The SPY MFC green line is pointed down at 44.9 and is short-term bearish.  SPY bounced at short-term support and closed above Friday’s close in a 3-month sideways channel.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLF, XLI,
Down trend sectors: XLK, XLY, XLC,
 
The 6-month intermediate trend is sideways.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Down
 
87 of 100 NDX stocks closed higher on Monday.
 
21 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, AEP, AMGN, XEL, VRTX, VRSK, PEP, LULU, MNST, ROST, GILD, MDLZ, ORLY, MAR, TSLA, EA, ADP, BIIB, BKNG,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
ADP, BIIB, BKNG, 
 
Moving Below 30 DMA = 1
COST,
 
 
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