©
2026
This is what good traders know…
The
intermediate term trend in the SPX, RUT and DJI is up. The short-term trend has been down this
week, which is a short-term counter trend and a bull flag pattern.
The
intermediate term trend, (3-months), in the NDX is sideways, the 12-day short-term
trend is up, and the 4-day short-term trend is down. It is a bull flag in a channel.
(click chart to enlarge)
Look
at the weekly YTD chart and what do you see?
What
do you think is more probable based on what you see?
SPX +33.21, 7,674, formed a bullish harami. Breadth turned positive as advancers
led on both the NYSE and the NASDAQ exchanges. The VIX closed lower, suggesting that
institutions were closing hedges.
RUT 3,017 opened and closed higher, formed a
bullish harami in a 5-day bull flag pattern.
SPX
advancers: HOOD MRNA COIN FCX ALB EL HCA TSLA DINO LULU CMG.
SPX
decliners: MRVL SRE EIX AEP CNP PWR Q XEL BG EXC SO.
SPCX closed at 136.97, +2.97, on volume of 78.5 million shares. Our view
is that SPCX, with no earnings, remains an overvalued speculation.
IPO at 135 on June 12.
SPY +3.12, a
6-day bull flag pattern and setup, below average volume of 39 million shares.
VIX -0.88, 15.13 closed lower.
NDX +0.33% a bull flag pattern and setup in a BO test
pullback.
DJI, 52,759 +0.98%, formed a
bullish harami in a 12-day bull flag pattern and setup.
Mega caps TSLA, GOOGL, AVGO, LLY, META, TSM, MSFT rose and WMT, BRK/B, AMZN, AAPL, MU, NVDA fell on Friday.
Up: DIA, IWM, SPY, QQQ,
Down:
The SPY
MFC green line is down
at 76.4,
price-action on Friday, closed above Thursday’s
close and also above horizontal resistance ($760.40) for a fourteenth day and
is counter-trend defensive. -4.2
Eight of eleven sectors were higher
and XLRE was unchanged on Friday.
64
of 100
NDX stocks closed higher on Friday.
61 NDX stocks are above their 30
DMA: FAST, AMGN, ADP, PAYX,
PYPL, REGN, INTU, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, BKR,
CPRT, DASH, DXCM, MSFT, CMCSA, GEHC, CEG, AMZN, MDB, CRWV, LITE, NFLX, NVDA,
PLTR, WBD, AXON, GILD, SPCX, VRTX, FANG, ASML, TER, MU, MRVL, NBIS, SNDK, PDD, KDP,
PEP, CSX, CTAS, MELI, MSTR, TSLA, MNST, AZN, CCEP, COST, ISRG, LRCX, PANW, PCAR,
SBUX, TMUS,
NDX Stocks to Watch on Monday
Moving Above 30 DMA = 9
AZN, CCEP, COST, ISRG, LRCX, PANW, PCAR, SBUX, TMUS,
Moving Below 30 DMA = 0
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2 comments:
Thank Dave for the post and the charts; Very helpful. Appreciate your postings and insights. Robert
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