Indexes Fall after Global Growth and US/China Trade-talk Concerns Surface....

© 2019

SPY, DIA, QQQ and IWM pulled back on Thursday in a bull flag pattern and formed a hammer candle pattern, after a late rally:

• Futures dropped over night after German industrial output fell for the fourth straight month in December and Fitch issued a risk concern on open ended bond funds,
• Markets fell sharply this morning after WH Advisor Larry Kudlow indicated that there is a sizable distance to go in US/China trade talks,
• TPR -5.83, -14.83% on a negative earnings reaction,
• HBI, SEE, MAS and CAH gapped up on positive EPS reactions,
• CMG +59.72, +11.35% gapped up on a positive earnings reaction,
• XLRE hit another new closing high today at 34.57
• St. Louis Fed president James Bullard indicated today he considers current level of rates somewhat restrictive.

The DJIA, closed down 220 points at 25,169, led by weakness in BA, GS, AAPL, MMM and CAT. 

Two of eleven sectors were higher on Thursday, led by utilities XLU +1.32% and real estate XLRE +0.85%.

SPY down 2.60 at 270.14 on 95.4 million shares, 8% below average volume. Down on higher volume.

VIX up .99 at 16.37 

Oil down 1.29 at 52.61

TLT up .80 at 121.83 on 8.7 million shares. 

WMT +1.14%, TRV +0.96%, led the DJIA, 3 advancers, -11

HBI +20.17%, CMG +11.35% and STI +10.18%, led the SPX.

EA +4.85%, TTWO +4.17%, ORLY +3.35%, and ATVI +2.23% led the NDX.

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

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Thursday, as decliners led 2,000 to 894 on the NYSE and led 2,052 to 952 on the NASDAQ

The SPY MFC green line is in the upper zone at 97 and is short-term bullish.

Uptrend sectors: XLRE, XLC,

Neutral sectors:  XLU, XLI, XLK, XLY, XLV, XLP, XLB, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

24 of 100 NDX stocks closed higher on Thursday.

87 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, WBA, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, HSIC, MSFT,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

  

Moving Below 30 DMA = 5

AMZN, BIIB, GILD, SIRI, VRTX,

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Semiconductors Rally as Broad Market Pauses in Range Day...CMG +10% in After-hours...

© 2019

SPY, DIA, QQQ and IWM traded in a range on Wednesday, closing slightly lower and above Tuesday’s low:

• SWKS, MCHP gapped higher on positive earnings reactions leading the semiconductor industry higher as MU, TXN, AMAT, XLNX, ASML, NXPI also moved higher,
• CPRI, UNM and CTSH led the SPX with positive EPS reactions,
• CMG +54.80, +10.42% gapped up on a positive earnings reaction after the close. 

The DJIA, closed down 21 points at 25,390, led by weakness in HD, CAT, GS, MCD and DIS. 

Four of eleven sectors were higher on Wednesday, led by healthcare XLV +0.45% and technology XLK +0.34%.

SPY down .36 at 272.74 on 58.3 million shares, 45% below average volume. Down on lower volume.

VIX down .19 at 15.38 

Oil up .18 at 53.90

TLT up .06 at 121.03 on 5.1 million shares.

UNH +1.20%, AXP +1.02%, led the DJIA, 14 advancers, -7

CPRI +11.30%, UNM +5.25% and TXN +4.07%, led the SPX.

SWKS +11.49%, MCHP +7.29%, MU +5.46%, and CTSH +4.62% led the NDX.


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

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Wednesday, as decliners led 1,734 to 1,143 on the NYSE and led 1,538 to 1,461 on the NASDAQ

The SPY MFC green line is in the upper zone pointed up at 98 and is short-term bullish.

Uptrend sectors: XLRE, XLC,

Neutral sectors:  XLU, XLI, XLK, XLY, XLV, XLP, XLB, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

49 of 100 NDX stocks closed higher on Wednesday.

92 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMZN, BIIB, CDNS, CTRP, EBAY, FB, GILD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, WBA, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, SIRI, CTXS, HSIC, MSFT,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

  

Moving Below 30 DMA = 5

ATVI, EA, NTES, TSLA, TTWO,

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BA Flies to All-time High as Market Uptrend Continues...GOOGL Reverses...EA Drops After-hours...

© 2019

SPY, DIA, QQQ and IWM moved to their highest close for 2019, continuing the broad rally of the past six week.  They continued moving closer to their Dec 3 high and an intermediate term breakout setup:

• BA +13.18 breaks out of resistance to an all-time high, with a 492 price target,
• EL, LEG and RL led the SPX on a positive EPS reactions,
• XLC completes a trend reversal breakout to shift into a new uptrend,
• XLRE and XLC are now in uptrends,
• GOOGL +13.18, 0.92% reverses a negative reaction after beating on EPS and revenue.

The DJIA, closed up 172 points at 25,411, led by strength in BA, AAPL, UTX, MSFT and DWDP. 

Nine of eleven sectors were higher on Tuesday, led by communication services XLC +1.10% and discretionary XLY +0.94%.

SPY up 1.14 at 273.10 on 79.5 million shares, 29% below average volume. Up on higher volume.

VIX down .16 at 15.57 

Oil down 1.12 at 53.72

TLT up .55 at 120.97 on 6.9 million shares. 

BA +3.32%, AAPL +1.71%, led the DJIA, 21 advancers, +0

EL +11.64%, LEG +9.76% and RL +8.39%, led the SPX.

JD +4.65%, EA +4.63%, TSLA +2.70%, and SBUX +2.60% led the NDX.

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

Up: QQQ, DIA, SPY, IWM,

Down:

Breadth weakened on Tuesday, as advancers led 1,797 to 1,064 on the NYSE and led 1,682 to 1,348 on the NASDAQ

The SPY MFC green line is in the upper zone pointed up at 98 and is short-term bullish.

Uptrend sectors: XLRE, XLC,

Neutral sectors:  XLU, XLI, XLK, XLY, XLV, XLP, XLB, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

75 of 100 NDX stocks closed higher on Tuesday.

97 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, WBA, AAPL, AMD, NTES, ORLY, PEP, CHTR, NVDA, TTWO, INTC, SIRI, CTXS, HSIC, MSFT, ATVI, TSLA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

ATVI, TSLA,  

Moving Below 30 DMA = 0

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NDX Leads on Rally on Strength in MSFT, AAPL, FB, NFLX...GOOGL Beats after-hours and Falls...

© 2019

SPY, DIA, QQQ and IWM moved higher on Monday and closed at recent highs above last week’s breakout.  Each is moving closer to its Dec 3 high and an intermediate term breakout setup:

• More than 80 SPX companies report earnings this week,
• NDX +84.88 as MSFT, AAPL, FB, NFLX contribute 50 NDX points,
• CLX +5.69% led the SPX on a positive EPS reaction,
• XLRE makes all-time high and is the first sector to breakout into a new uptrend,
• GOOGL -3.09%, -35.24 fell after-hours, beating on EPS and revenue. 

The DJIA, closed up 175 points at 25,239, led by strength in BA, AAPL, MSFT, HD and CVX. 

Nine of eleven sectors were higher on Monday, led by technology XLK +1.60% and industrials XLI +1.29%.

SPY up 1.90 at 271.96 on 60.6 million shares, 48% below average volume. Up on lower volume.

VIX down .41 at 15.73 

Oil down .53 at 54.84

TLT down .54 at 120.42 on 8.9 million shares. 

MSFT +2.88%, AAPL +2.84%, led the DJIA, 21 advancers, +4

CLX +5.69%, RTN +5.24% and SYY +4.83%, led the SPX.

LBTYA +4.49%, NFLX +4.10%, NVDA +3.07%, and INTU +3.01% 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 1,949 to 918 on the NYSE and led 2,139 to 905 on the NASDAQ

The SPY MFC green line is in the upper zone pointed up at 96 and is short-term bullish.

Uptrend sectors: XLRE,

Neutral sectors:  XLU, XLC, XLY, XLV, XLI, XLB, XLK, XLF, XLP, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

71 of 100 NDX stocks closed higher on Monday.

95 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, WBA, AAPL, AMD, NTES, ORLY, PEP, CHTR, NVDA, TTWO, INTC, SIRI, CTXS, HSIC, MSFT,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

CTXS, HSIC, MSFT,  

Moving Below 30 DMA = 0

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AMD, FB, XRX, GE, BA Lead Rally in Week 6...

© 2019

SPY, DIA and IWM closed above horizontal resistance while DIA tested Wednesday’s breakout:

• SYMC +8.99% led the NDX on a positive EPS reaction,
• XOM, CVX and MRK rose on positive earnings reactions lifting the DJIA on Friday,
• AMZN -5.38%, -92.50 was the largest NDX decliner on a negative EPS reaction,
• Jobs Report for January non-farm payrolls was 304K vs 170K estimate.

The DJIA, closed up 64 points at 25,063, led by strength in V, CVX, XOM, MRK and BA.  CVX, XOM, and MRK rose on a positive earnings reaction. 

Six of eleven sectors were higher on Friday, led by energy XLE +1.84% and technology XLK +0.59%.

SPY up .13 at 270.06 on 85.7 million shares, 30% below average volume. Up on lower volume.

VIX down .43 at 16.14 

Oil up 1.35 at 55.37

TLT down 1.01 at 120.96 on 12.0 million shares. 

V +3.81%, XOM +3.60%, led the DJIA, 17 advancers, -2

FMC +7.56%, AON +7.19% and ZBH +6.43%, led the SPX.

SYMC +8.99%, WDC +4.47%, MU +3.61%, and INTC3.42 +5.72% led the NDX.

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

Up: DIA, IWM, SPY,

Down: QQQ,

Breadth weakened on Friday, as advancers led 1,663 to 1,244 on the NYSE and led 1,715 to 1,296 on the NASDAQ

The SPY MFC green line is in the upper zone pointed up at 94 and is short-term bullish.

Uptrend sectors:  

Neutral sectors:  XLRE, XLU, XLB, XLY, XLC, XLV, XLI, XLK, XLF, XLP, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

69 of 100 NDX stocks closed higher on Friday.

92 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, WBA, AAPL, AMD, NTES, ORLY, PEP, CHTR, NVDA, TTWO, INTC, SIRI,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

INTC, SIRI,

Moving Below 30 DMA = 3

ATVI, HSIC, MSFT,

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