©
2024
Breadth was
modestly stronger as the SPX rose
+23.00, 5,893, after
markets continued Friday’s modest afternoon rally. Monday’s trading suggests that selling from
Powell’s Thursday comment exhausted on Friday.
NDX +0.71% closed higher, and formed a bullish harami candle
in its bull flag price pattern.
Bull flag bounces
on Monday included: TSLA, NFLX, BKNG
Bull flag
setups for Tuesday: MAR, CTAS, TMUS, BKR, HON, FAST, CSCO, PYPL, FTNT
ADBE -3.86, -0.77%, drifted slightly
on Monday. Watch for a potential on
Tuesday.
TSLA +18.02, +5.62%, gapped up above
the high of the low day of its four-day bull flag pattern, continuing it
previous up trend.
Mega caps TSLA, GOOGL, AAPL, BRK/B, MSFT, META rose and AMZN, NVDA fell on Monday.
SPY up 2.40 at 588.15, 37.0 million
shares, below average volume,
VIX down .56 at 15.58
QQQ up 3.45 at 500.02
BA, IBM, VZ AAPL led the DJIA, 15 advancers, +3
SMCI,
HSIC, TSLA, CVS, ENPH led the SPX, 323 advancers
SMCI, MRNA, TSLA, MCHP led the NDX, 67 advancers
Up: QQQ, SPY, IWM,
Down: DIA,
The SPY
MFC green line is pointed down at 76.7 and is defensive.
-6.3.
Ten
of eleven
sectors were higher on Monday, led by XLE, XLC and XLY.
Uptrend sectors: XLF, XLC, XLI,
XLK, XLU, XLB, XLY, XLRE, XLP, XLV,
Neutral sectors: XLE,
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: Down
67 of 100 NDX stocks closed higher on Monday.
50 NDX stocks are above their 30
DMA: DASH, ADSK, CSCO, BKNG, FAST, TMUS, ADP, MRVL, NVDA, LULU,
TEAM, PANW, TTWO, EA, ISRG, NFLX, CMCSA, BKR, TSLA, GOOGL, ODFL, CDNS, CHTR,
VRSK, WBD, XEL, AMZN, ANSS, CRWD, INTU, ZS, PCAR, COST, CSX, CTAS, GFS, INTC, MAR,
MDB, WDAY, CPRT, FTNT, HON, ORLY, PYPL, DXCM, SBUX, ADBE, DLTR, TXN,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
DLTR, TXN,
Moving Below 30 DMA = 1
PAYX,
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