Higher Open, Close Above the HOLD...JPM Lifts Outlook, Financials Leads All Sectors Higher...

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JPM raised their net interest income outlook before the open and the Financial Sector led all sectors higher on Monday. Expectations that the EU would raise interest rates lifted the Euro.

The SPX +72.39 opened higher, rallied and closed above the high of Friday’s hammer giving a channel bounce entry signal.  The SPX closed 163 points above Friday’s low of 3,810.

SPY up 7.29 at 396.92, on 76.3 million shares, below average volume, up on lower volume.

VIX down .95 at 28.48

QQQ up 4.80 at 293.48

 

JPM, V, AAPL, AXP led the DJIA, 27 advancers, +11

SWN, DE, SLB, TTWO led the SPX, 421 advancers

ROST, PANW ASML, AAPL led the NDX, 75 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  DIA, SPY, QQQ, IWM,

Down: 

All eleven sectors were higher on Monday, led by XLF, XLE and XLK the weakest.

Financial leaders:  JPM, C, BAC, CMA

Energy leaders:  SWN, SLB, APA, CTRA

Technology leaders: V, AAPL, MA, FISV

Advancers strengthened on Monday as advancers led 2,264 to 1,026 on the NYSE and led 2,762 led to 1,902 on the NASDAQ.

The SPY MFC green line is turned up at 16.8 and is short-term bullish.  SPY opened higher and closed above the HOLD which was a hammer candle at support.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

75 of 100 NDX stocks closed higher on Monday.

22 NDX stocks are above their 30 DMA:   MNST, GILD, AMD, EA, NTES, NXPI, XEL, SGEN, ADI, KLAC, BIDU, PDD, SNPS, AMGN, LRCX, EXC, FISV, MCHP, RGEN, SIRI, TMUS, VRTX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7

EXC, FISV, MCHP, REGN, SIRI, TMUS, VRTX,

Moving Below 30 DMA = 0

  

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