SPX/SPY Falll to Oct 29 Support, Big Buyers Create White Hammer...

© 2018

SPY opened flat and sold off it its Oct 29 support low during the first two hours of trading.  Buyers too control and the SPY rallied forming a white hammer as did DIA.  QQQ, SPY and DIA are all channel bounce setups for Tuesday.

The DJIA, closed up 34 points at 24,423, led by weakness in BA, MSFT, IBM, MCD and AAPL.  This is the third close below 25,000 since Nov 27.

Seven of eleven sectors were higher on Monday, led by technology XLK +1.38% and communications XLC +0.76%.

SPY up .50 at 264.07 on 161.0 million shares, 39% above average volume. Down on lower volume.

VIX down .59 at 22.64 

Oil down 1.24 at 50.89

TLT up .49 at 118.90 on 8.7 million shares. 

MSFT +2.64%, INTC +2.14%, led the DJIA, 16 advancers, +16

EQT +6.63%, NOC +4.93% and LMT +4.56%, led the SPX.

AVGO +4.68%, FB +3.22%, IDXX +3.15%, and ALGN +3.03% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up:  QQQ, SPY, DIA,

Down: IWM,

Breadth strengthened on Monday, as decliners led 1,990 to 952on the NYSE and led 1,777 to 1,286 on the NASDAQ

The SPY MFC green line is turned down at 45 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLV, XLP,

Neutral sectors:  XLI, XLB, XLY, XLC, XLK,

Down trend sectors: XLF, XLE,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

69 of 100 NDX stocks closed higher on Monday.

34 NDX stocks are above their 30 DMA.  SBUX, TSLA, PEP, XLNX, FOXA, MDLZ, MNST, SYMC, CTXS, XRAY, MXIM, NTES, HOLX, PAYX, VOD, WDAY, ADP, CSCO, ILMN, MELI, SIRI, VRTX, EBAY, REGN, ADBE, ADI, ADSK, AMGN, AMZN, AVGO, MCHP, MSFT, PYPL, WYNN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 10

ADBE, ADI, ADSK, AMGN, AMZN, AVGO, MCHP, MSFT, PYPL, WYNN,

Moving Below 30 DMA = 2

FAST, WBA

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Early Rally Fails as VIX Jumps and SPX Closes Near Thursday's Support Low...

© 2018

SPY opened near Thursday’s low and rallied for about 13 minutes before pausing.  After staying above Thursday’s close for about 50 minutes a rapid selloff ensued and selling continued for the balance of Friday with the close about $1 above Thursday support low.   

The DJIA, closed down 558 points at 24,388, led by weakness in BA, UNH, AAPL, CAT and IBM.  This is the second close below 25,000 since Nov 27.

One of eleven sectors was higher on Friday, led by utilities XLU +0.37%.

SPY down 6.27 at 263.57 on 161.0 million shares, 39% above average volume. Down on lower volume.

VIX up 2.04 at 23.23 

Oil up .42 at 52.13

TLT up .22 at 118.41 on 8.6 million shares. 

JNJ -0.33%, CVX -0.36%, led the DJIA, 0 advancers, -14

WY +6.45%, HPE +6.45% and KIM +5.31%, led the SPX.

AVGO +0.58%, XRAY -0.44%, FOXA -0.48%, and BIDU -0.63% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up:

Down: IWM, SPY, DIA, QQQ

Breadth weakened on Friday, as decliners led 2,007 to 912on the NYSE and led 2,202 to 815 on the NASDAQ

The SPY MFC green line is turned down at 55 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLP, XLV,

Neutral sectors:  XLI, XLF, XLB, XLY,

Down trend sectors: XLE, XLC, XLK,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

1 of 100 NDX stocks closed higher on Friday.

26 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, FOXA, MDLZ, MNST, SYMC, FAST, CTXS, XRAY, MXIM, NTES, HOLX, PAYX, VOD, WDAY, ADP, CSCO, ILMN, MELI, SIRI, VRTX, EBAY, REGN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 33

AAL, ADBE, ADI, ADSK, ALXN, AMAT, AMGN, AMZN, BIIB, BKNG, BMRN, CELG, CHTR, CMCSA, COST, DLTR, ESRX, EXPE, GILD, GOOGL, HSIC, INTC, INTU, ISRG, KLAC, MCHP, MSFT, NXPI, PYPL, SHPG, SNPS, TXN, WYNN,

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Sellers Control the Open, Intra-day Reversal at Nov Support...QQQ Gains...Jobs Report on Friday...

© 2018

SPY opened lower below Tuesday’s low as futures fell overnight.  Selling exhausted just before noon when support was hit and the SPY rallied more than $6 and finished down just 41 cents on Thursday.

The DJIA, closed down 79 points at 24,947, led by weakness in BA, JPM, AAPL, UNH and CVX.  This is the first close below 25,000 since Nov 27.

Six of eleven sectors were higher on Thursday, led by real estate XLRE +2.7% and communications XLC +1.12%.

SPY down .41 at 269.84 on 204.1 million shares, 76% above average volume. Down on higher volume.

VIX up .45 at 21.19 

Oil down 1.21 at 51.71

TLT up .37 at 118.19 on 15.3 million shares. 

CSCO +2.20%, IBM +1.90%, led the DJIA, 14 advancers, +14

WY +6.45%, HPE +6.45% and KIM +5.31%, led the SPX.

TTWO +4.44%, NTES +3.94%, SHPG +3.87%, and ATVI +3.50% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up: QQQ,

Down: SPY, IWM, DIA,

Breadth strengthened on Thursday, as decliners led 1,823 to 1,139 on the NYSE and led 1,901 to 1,184 on the NASDAQ

The SPY MFC green line is turned down at 65 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLP, XLV,

Neutral sectors:  XLI, XLF, XLB, XLY,

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

56 of 100 NDX stocks closed higher on Thursday.

59 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, MNST, SYMC, FAST, MCHP, CTXS, XRAY, ADI, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, BKNG, EBAY, ISRG, PYPL, REGN, DLTR, CELG, BMRN, COST, EXPE, GILD, GOOGL, INTU, SHPG, SNPS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 8

BMRN, COST, EXPE, GILD, GOOGL, INTU, SHPG, SNPS,

Moving Below 30 DMA = 10

AVGO, CSX, CTAS, CTRP, CTSH, INCY, LRCX, ORLY, PCAR, VRSK,

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Wednesday National Day of Mourning for Pres. George H.W. Bush...Markets Closed...

Heavy Selling Drops SPX to Oct 11 Support as US/China Trade Fears and Economic Slowdown Concerns Arise...

© 2018

SPY, DIA and QQQ opened lower and moved below Monday’s high in early trading.  Selling became aggressive and volatility started to spike around mid-day as concerns renewed over US/China trade and worries of a 2 year/5year interest rate inversion surfaced stoking concerns about a potential economic slowdown..

The DJIA, closed down 799 points at 25,027, led by weakness in BA, UNH, MMM, GS and AAPL.  This is the fifth close above 25,000 since Nov 19.

Ten of eleven sectors were lower on Tuesday, led by utilities XLU +0.07%.

SPY down 9.05 at 270.25 on 177.9 million shares, 56% below average volume. Down on higher volume.

VIX up 4.30 at 20.74 

Oil down .47 at 52.61

TLT up 1.94 at 117.82 on 18.1 million shares. 

Long term up trend intact.  3-day short term trend is down.

Up:

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Tuesday, as decliners led 2,498 to 478 on the NYSE and led 2,644 to 425 on the NASDAQ

The SPY MFC green line is pointed up at 69 and is lagging today’s selloff.

Uptrend sectors:   XLRE, XLU, XLP, XLV,

Neutral sectors:  XLI, XLF, XLB, XLY,

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

2 of 100 NDX stocks closed higher on Tuesday.

61 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, MNST, SYMC, FAST, MCHP, VRSK, CTXS, XRAY, ADI, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, BKNG, CTSH, EBAY, ISRG, PYPL, REGN, DLTR, CELG, CTRP, INCY, 

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 22

ALGN, ASML, BIDU, BMRN, CDNS, CERN, CHKP, COST, EXPE, FISV, GILD, GOOGL, IDXX, INTU, LBTYA, MAR, MU, MYL, QRTEA, SNPS, STX, ULTA,

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Stocks Gap Higher Following China Trade Progress...

© 2018

SPY, DIA and QQQ gapped higher and traded in a range following positive developments on trade with China over the weekend. 

The DJIA, closed up 287 points at 25,826, led by strength in BA,, AAPL, UNH, V and CAT.  This is the fourth close above 25,000 since Nov 19.

Ten of eleven sectors were higher on Monday, led by energy XLE +2.22% and technology XLK +2.21%.

SPY up 3.65 at 279.30 on 103.0 million shares, 6% below average volume. Up on higher volume.

VIX down 1.63 at 16.44 

Oil up 2.36 at 53.08

TLT up .55 at 115.88 on 9.7 million shares. 

BA +3.81%, NKE +3.75%, led the DJIA, 22 advancers, -2

AMD +11.31%, FOSL +7.04% and TWTR +7.03%, led the SPX.

WYNN +9.50%, INCY +6.33%, MELI +4.98%, and AMZN +4.86% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, DIA, IWM,

Down:

Breadth strengthened on Monday, as advancers led 2,167 to 771 on the NYSE and led 2,015 to 1,045 on the NASDAQ

The SPY MFC green line is pointed up at 68 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLP, XLV,

Neutral sectors:  XLI, XLF, XLB, XLY,

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

78 of 100 NDX stocks closed higher on Monday.

83 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, ASML, BKNG, COST, CTSH, EBAY, FISV, GOOGL, ISRG, PYPL, REGN, SNPS, DLTR, INTU, LBTYA, BIDU, CDNS, CHKP, EXPE, GILD, IDXX, MU, STX, ALGN, BMRN, CELG, CERN, CTRP, INCY, MAR, QRTEA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 8

ALGN, BMRN, CELG, CERN, CTRP, INCY, MAR, QRTEA,

Moving Below 30 DMA = 1

TMUS,

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