NDX, RUT, SPX, DJI Closed Slightly Lower on Below Average Volume...AMAT Rebounds...SNDK Led SPX...

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Our iBullyBear Mentoring account once again hit a new all-time Net Liq high on strength in SNDK, MU, STX, SOXL, WDC and several other gainers on Monday.  If you are not employing a systematic approach to decision-making in the face of uncertainty and you want to improve your skills contact us through the iBullyBear link above.

Stay Focused on the trend.  Don’t be distracted by price fluctuations or subjective opinions. Breathe and let the market breathe.

SPX -40.70, 7,745.  Closed above 7,700 for a tenth day.  The SPX breakout remains above horizontal resistance.  The SPX was down slightly on light volume.  

RUT 3,057 pauses after a new all-time closing high on Friday.

Breadth weakened as decliners led on both the NYSE and the NASDAQ exchange.

AMAT +28.13, +5.55%, after a one-day negative reaction on Friday following an EPS beat EPS $3.50 beats $3.40 estimate, sales $9.115B beat $8.991B estimate on Thursday.

SPX advancers: SNDK COHR TER AMAT MRVL WDE PWR LITE GLW MU CIEN.

SPX decliners: CHTR STZ ALGN TTD NOW TAP LHX KKR CNC APO NCLH.

SPCX closed at 146.23, +6.23 on volume of 116.17 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  Absorbing insider/private selling, since August 6, does not mean the stock is not speculative, but it does mean there are more buyers than sellers and intelligent speculative buyers are speculating to make money.

SPY -0.47%, counter trend pullback, bull flag setup.

VIX +0.94, 15.19 closed higher after hitting low on Friday. 

NDX -0.17% a second pause day in a 13-day short-term up trend.

DJI, 53,459 -0.51%, 8-day bull flag pattern.

Mega caps MU, TSM, LLY rose and NVDA, AAPL, AVGO, AMZN, GOOGL, WMT, TSLA, BRK/B, MSFT, META fell on Monday.

Up:

Down: QQQ, IWM, SPY, DIA,

The SPY MFC green line is up at 91.1, price-action on Monday, closed above horizontal resistance for a tenth day and is short-term bullish. -1.1

Two of eleven sectors were higher on Monday. 

37 of 100 NDX stocks closed higher on Monday.

63 NDX stocks are above their 30 DMA: FAST, PCAR, AMGN, ADP, PAYX, PYPL, REGN, INTU, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, BKR, COST, CPRT, DASH, DXCM, MSFT, CMCSA, GEHC, CEG, AMZN, CRWD, MDB, ORLY, PANW, CRWV, LITE, NFLX, NVDA, PLTR, MPWR, WBD, ADI, AXON, GILD, RKLB, SNPS, SPCX, VRTX, FANG, ISRG, ASML, SBUX, TER, LRCX, MU, MRVL, NBIS, STX, INTC, SNDK, AMD, XEL,

NDX Stocks to Watch on Tuesday

Moving Above 30 DMA = 4

CSX, MSTR, PDD, WDC,

Moving Below 30 DMA = 10

ARM, CCEP, CTAS, FTNT, KDP, MELI, PEP, ROST, TMUS, TTWO,

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