IWM Makes New All-time Closing High...Happy Mothers Day...

© 2018

Wishing all mothers a Happy Mother’s Day this weekend!

Although breadth weakened on Friday, DIA, SPY and IWM closed higher.  SPY closed above it April 18 high for the second straight day, while DIA closed above its April 17 high for the first time.

IWM made a new all-time closing high at 159.84, 25 cents above its previous closing high of 159.59 on Jan 23.

VIX 12.65, made its first close below 13 since Jan 26.  New high in IWM and lower VIX are just two of the bullish indications that the broad market may be resuming its long-term and intermediate term trend in the near future.

The DJIA, closed up 91 points at 24,831, led by strength in UNH, HD, JNJ, MRK, VZ and CVX.

Five sectors were higher on Friday, led by healthcare XLV +1.49% and utilities XLU +0.21%.

SPY up .83 at 272.85 on 59.8 million shares, 33% below average volume. Up on lower volume.

VIX down .58 at 12.65

Oil down .89 to 70.51

TLT up .30 at 119.23 on 4.2 million shares.

VZ +3.01%, MRK +2.81%, led the DJIA, 19 advancers.

TRIP +22.80%, FOSL +9.06% and GCI +5.63%, led the SPX.

REGN +6.24%, VRTX +3.28%, ALGN +3.15%, and BIIB +3.06%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: DIA, SPY, IWM

Down: QQQ,

Breadth weakened on Friday, as advancers led 1,599 to 1,270 on the NYSE and led 1,646 to 1,250 on the NASDAQ.

The SPY MFC green line is pointed up and is at 86, bullish. 

Uptrend sectors:  XLE, XLK, XLRE, XLU

Neutral sectors: XLF, XLY, XLV, XLI, XLB,

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

52 of 100 NDX stocks closed higher on Friday.

69 NDX stocks are above their 30 DMA. 

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

AMGN, ESRX, KHC,

Moving Below 30 DMA = 3

CHKP, CTRP, SYMC,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

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IWM Pennies Shy of All-time Closing High...VIX Closes Lower...Stocks Break Resistance and New Highs Appear...

After a higher open, SPY continued its short-term up trend for the fourth consecutive day, breaking out of its horizontal resistance high on April 18 and finishing with its highest close since March 16.   

IWM moved to within 8 cents of its all-time intra-day high of 160.25 on Jan 24, before closing at 159.53, 6 cents below its all-time closing high of 159.59 on Jan 23.

VIX 13.23, made its lowest close since Jan 26.

The DJIA, closed up 197 points at 24,739, led by strength in UNH, AAPL, JNJ, XOM, GS and DIS.

Ten sectors were higher on Thursday, led by utilities XLU +1.41% and healthcare XLV +1.34%.

SPY up 2.52 at 272.02 on 72.0 million shares, 21% below average volume. Up on higher volume.

VIX down .19 at 13.23

Oil up .16 to 71.40

TLT up .95 at 118.93 on 7.1 million shares.

XOM +2.24%, UNH +1.96%, led the DJIA, 29 advancers.

TRIP +22.80%, FOSL +9.06% and GCI +5.63%, led the SPX.

XRAY +4.40%, ALGN +3.63%, HOLX +3.47%, and ESRX +3.40%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, DIA, IWM

Down:  

Breadth strengthened slightly on Thursday, as advancers led 2,085 to 806 on the NYSE and led 1,746 to 1,156 on the NASDAQ.

The SPY MFC green line is pointed up and is at 80, bullish. 

Uptrend sectors:  XLE, XLK, XLRE, XLU

Neutral sectors: XLF, XLY, XLV, XLI, XLB,

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

84 of 100 NDX stocks closed higher on Thursday.

69 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

CHKP, CTRP, HOLX, NTES, VRSK,

Moving Below 30 DMA = 1

BKNG,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

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VIX Drops to 3-month Low as Oil Gains and Energy Leads Nine Sectors Higher...

© 2018

After a higher open, and early pullback to Tuesday’s high filling the gap, SPY took off gaining almost one percent before making its highest close since April 18. 

VIX 13.42, made its lowest close since Jan 26, before it soared to 50 in early February.  After three months of above average levels, volatility is headed to low double digits.

The DJIA, closed up 182 points at 24,542, led by strength in BA, GS, CAT, JPM, CVX and XOM.

Nine sectors were higher on Wednesday, led by energy XLE +2.04% and financial XLF +1.48%.

SPY up 2.58 at 269.50 on 59.6 million shares, 37% below average volume. Up on lower volume.

VIX down 1.29 at 13.42

Oil up 1.20 to 71.24

TLT down .71 at 117.98 on 7.8 million shares.

DWDP +2.80%, GE +2.45%, led the DJIA, 23 advancers.

TRIP +22.80%, FOSL +9.06% and GCI +5.63%, led the SPX.

EA +5.75%, MU +5.02%, DISH +4.39%, and TTWO +4.21%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, DIA, IWM

Down:  

Breadth weakened on Wednesday, as advancers led 1,821 to 1,068 on the NYSE and led 1,841 to 1,076 on the NASDAQ.

The SPY MFC green line is pointed up and is at 69, bullish. 

Uptrend sectors:  XLE, XLK, XLRE, XLU

Neutral sectors: XLF, XLY, XLV, XLI, XLB,

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before considering entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA,

SQ, CMA, CME, ALGN, TAL, MU, ANET, AKAM, HRS, KORS, BA,

DLTR, MAR, WB, SHOP, EL, TPR,

76 of 100 NDX stocks closed higher on Wednesday.

65 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 7

ASML, FISV, LRCX, MU, MXIM, PYPL, QCOM,

Moving Below 30 DMA = 0

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

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U.S. to Renew Sanctions...Indexes Close Mixed as Energy Leads Sectors...

© 2018

Like an FOMC announcement, markets channeled sideways until 2pm EDT when the President announced plans to renew sanctions against Iran.  Then price volatility went up, down, up, down and up going into the close. 

IWM finished higher while SPY and DIA finished unchanged.  QQQ finished down 17 cents.  While Monday’s SPY low was penetrated seven times, SPY finished unchanged and above Monday’s low.  Continue yellow alert.

The DJIA, closed up 2 points at 24,360, led by strength in CVX, JPM, MMM, HD and AXP, offset by weakness in BA and UNH.

Four sectors were higher on Tuesday, led by energy XLE +0.78% and industrials XLI +0.71%.

SPY up .00 at 266.92 on 67.4 million shares, 30% below average volume. Unchanged on higher volume.

VIX down .04 at 14.71

Oil up .04 to 70.04

TLT down .11 at 118.69 on 6.0 million shares.

JPM +2.36%, GE +1.42%, led the DJIA, 14 advancers.

FOSL +12.83%, JEC +9.50% and EXPD +8.77%, led the SPX.

BIDU +3.62%, MCHP +2.15%, MAR +1.95%, and ROST +1.76%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: IWM, SPY, DIA,

Down:  QQQ,

Breadth weakened on Tuesday, as advancers led 1,474 to 1,421 on the NYSE and led 1,551 to 1,329 on the NASDAQ.

The SPY MFC green line is pointed up and is at 60, bullish. 

Uptrend sectors:  XLU, XLE, XLK, XLRE,

Neutral sectors: XLY, XLF, XLV, XLI, XLB,

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before considering entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA,

SQ, CMA, CME, ALGN, TAL, MU, ANET, AKAM, HRS, KORS, BA,

DLTR, MAR, WB, SHOP, EL, TPR,

51 of 100 NDX stocks closed higher on Tuesday.

58 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

AMAT, AVGO, FAST, XLNX,

Moving Below 30 DMA = 2

LBTYA, MELI,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

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SPX Pauses at Horizontal Resistance forms Spinning Top...AAPL, V, WLL Hit New High...

© 2018

Oil, the energy sector and the broad market pulled back this afternoon after it was announced that the President would announce on Tuesday a decision on Iran.  Broad indexes paused and pulled back in the area of horizontal resistance in their respective sideways trends.  Be prepared if a break below the low of the high day occurs…yellow alert.

The DJIA, closed up 94 points at 24,357, led by strength in BA, CAT, GS, UTX, AAPL and DIS. 

Six sectors were higher on Monday, led by technology XLK +0.70% and industrials XLI +0.66%.

SPY up .90 at 266.92 on 55.3 million shares, 44% below average volume. Up on lower volume.

VIX down .02 at 14.75

Oil up .21 to 70.00

TLT down .19 at 118.80 on 3.6 million shares.

CAT +2.36%, NKE +1.82%, led the DJIA, 17 advancers.

GCI +12.27%, MDT +4.61% and URI +1.09%, led the SPX.

ILMN +4.93%, NVDA +4.02%, LBTYA +3.65%, and TSLA +2.95%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: IWM, QQQ, DIA, SPY,

Down:  

Breadth weakened on Monday, as advancers led 1,830 to 1,066 on the NYSE and led 1,782 to 1,122 on the NASDAQ.

The SPY MFC green line is pointed up and is at 56, bullish. 

Uptrend sectors:  XLU, XLE, XLK, XLRE,

Neutral sectors: XLY, XLF, XLV, XLI, XLB,

Down trend sectors: XLP

Intermediate-term trending stocks:  Some of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before considering entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA,

SQ, CMA, CME, ALGN, TAL, MU, ANET, AKAM, HRS, KORS, BA,

DLTR, MAR, WB, SHOP, EL, TPR,

74 of 100 NDX stocks closed higher on Monday.

56 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

CERN, MCHP, MELI,

Moving Below 30 DMA = 3

CTSH, HOLX, XRAY

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

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Just Returned from a Great Trip Abroad...Markets Bouncing today...MCD, NFLX, AMZN...