December Retail Sales -1.2%, Lower Open...IWM, QQQ Close Higher...NVDA Gaps up in After-hours...

© 2019

After the Dec Retail Sales report of -1.2% was released at 8:30 am ET, /ES futures fell 23 points.  After the market opened the SPX fell another 12 points before selling exhausted.  After a 15 point rally, concerns surfaced about trade talk progress and Fed Gov Brainard’s comments that downside risk to the economy had increased.  The SPX sold off another 11 points:  After a rally and late selloff the SPX -7.30 closed down forming a spinning top on Thursday.

• NFLX +7.30, finished near resistance in an ascending triangle, an HBO setup,
• MRO, EQIX, IQV, ZBRA, VMC and AGIO each gained more than 6% following a positive earnings reaction,
• NVDA +5.32%, rose on its earnings reaction in after-hours trading, when a drop in revenue wasn’t worse than the $2.21 billion reported.

The DJIA, closed down 103 points at 25,439, led by weakness in KO, MMM, GS, TRV and IBM. 

Five of eleven sectors were higher on Thursday, led by real estate XLRE +0.38% and communications services XLC +0.37%.

SPY down .61 at 274.38 on 83.1 million shares, 6% below average volume. Down on higher volume.

VIX up .57 at 16.22

Oil up .52 at 54.47

TLT up .69 at 121.79 on 5.8 million shares. 

CSCO +1.89%, MCD +0.99%, led the DJIA, 11 advancers, -12

MRO +8.75%, EQIX +7.32% and IQV +7.06%, led the SPX.
EA +2.93%, INCY +2.91%, NFLX +2.08%, and TMUS +2.07% led the NDX.

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

Up: IWM, QQQ,

Down: SPY, DIA

Breadth weakened on Thursday, as advancers led 1,544 to 1,320 on the NYSE and decliners led 1,515 to 1,512 on the NASDAQ

The SPY MFC green line is in the upper zone at 95 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI,

Neutral sectors:  XLU, 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

53 of 100 NDX stocks closed higher on Thursday.

88 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, 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, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, MSFT, EA, COST, HSIC, VRTX, WBA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 2

AMZN, BMRN,  

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SPY Moves Higher, Forms Doji with Close Near Open...

© 2019

QQQ, DIA, SPY and IWM rose on Wednesday, while momentum slowed with each forming a doji or spinning top:

• SPY continued its eight-week rally on US/China trade optimism,
• CRL, ATVI, HLT, MOH, GTES and IPG each gained more than 4% following a positive earnings reaction,
• YELP and CSCO rose after the close on positive earnings reaction and NTAP fell.

The DJIA, closed up 117 points at 25,543, led by strength in MMM, HD, V, IBM and DIS. 

Ten of eleven sectors were higher on Wednesday, led by energy XLE +1.25% and discretionary XLY +0.68%.

SPY up .89 at 274.99 on 65.2 million shares, 27% below average volume. Up on lower volume.

VIX up .22 at 15.65

Oil up .61 at 53.95

TLT down .45 at 121.10 on 4.7 million shares. 

HD +1.56%, MMM +1.52%, led the DJIA, 23 advancers, -5

FCX +6.96%, HLT +6.79% and IPG +4.75%, led the SPX.

ATVI +6.96%, MAR +3.59%, TTWO +3.24%, and MU +3.17% led the NDX.

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

Up: DIA, SPY, IWM, QQQ,

Down:

Breadth weakened on Wednesday, as advancers led 1,874 to 991 on the NYSE and led 1,712 to 1,301 on the NASDAQ

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

Uptrend sectors: XLRE, XLC, XLI,

Neutral sectors:  XLU, 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

57 of 100 NDX stocks closed higher on Wednesday.

90 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, 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, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, MSFT, EA, AMZN, BMRN, COST, HSIC, VRTX, WBA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 1

NTES,

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SPY, DIA, IWM, QQQ Bull Flag Bounce as Rally Continues in Week 8...

© 2019

QQQ, DIA, SPY and IWM each gain 1% plus after a bull flag bounce on Tuesday:

• IWM, SPY and DIA also broke above their Feb 5 high for a breakout entry trigger,
• Futures rose Monday night after word that a tentative agreement had been reached on a spending bill to avoid another government shutdown,
• JLL, IPGP, UAA, FLR, RNG and BRKR each gained more than 5% following a positive earnings reaction,
• The SPY has risen 17% in its current eight-week rally as of Tuesday’s close.

The DJIA, closed up 372 points at 25,425, led by strength in BA, UNH, MMM, CAT and GS.  

Ten of eleven sectors were higher on Tuesday, led by materials XLB +2.24% and industrials XLI +1.55%.

SPY up 3.48 at 274.10 on 72.0 million shares, 22% below average volume. Up on higher volume.

VIX down .54 at 15.43

Oil up .89 at 53.34

TLT down .31 at 121.55 on 7.9 million shares. 

CAT +2.90%, MMM +2.82%, led the DJIA, 28 advancers, +13

BHF +13.95%, COTY +12.53% and PCG +7.68%, led the SPX.

EA +5.23%, LULU +5.03%, MU +4.72%, and NXPI +4.46% led the NDX.

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

Up: QQQ, DIA, SPY, IWM,

Down:

Breadth strengthened on Tuesday, as advancers led 2,188 to 696 on the NYSE and led 2,253 to 770 on the NASDAQ

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

Uptrend sectors: XLRE, XLC, XLI,

Neutral sectors:  XLU, 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

86 of 100 NDX stocks closed higher on Tuesday.

91 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, 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, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, MSFT, EA, AMZN, BMRN, COST, HSIC, NTES, VRTX, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 7

AMZN, BMRN, COST, HSIC, NTES, VRTX, WBA,

Moving Below 30 DMA = 0

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IWM Bull Flag Bounce...SPY, DIA, QQQ Trading Range Day...Report that a Deal to Keep US Government Open has Been Reached...

© 2019

SPY, QQQ and DIA continue in a bull flag pattern and are a setup for a potential bounce on Tuesday:

• IWM made a bull flag bounce and gave an entry signal,
• There are numerous bull flag setups including SPY, QQQ, DIA, SMH, BA, AAPL, NFLX, TXN, WYNN and many more,
• Reports indicate that a tentative deal has been reached to keep the US government open.

The DJIA, closed down 53 points at 25,053, led by weakness in UNH, DIS, HD, AAPL and BA. 

Seven of eleven sectors were higher on Monday, led by industrials XLI +0.53% and energy XLE +0.48%.

SPY up .15 at 270.62 on 67.9 million shares, 28% below average volume. Up on lower volume.

VIX up .25 at 15.92

Oil down .26 at 52.45

TLT down .48 at 121.87 on 4.3 million shares. 

NKE +1.60%, AXP +0.85%, led the DJIA, 15 advancers, +0

ABMD +4.02%, NWL +3.74% and SWN +3.68%, led the SPX.

CERN +2.66%, ISRG +2.40%, TSLA +2.30%, and HSIC +2.10% led the NDX.

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

Up: IWM, SPY,

Down: QQQ, DIA,

Breadth strengthened on Monday, as advancers led 1,901 to 985 on the NYSE and led 1,850 to 1,156 on the NASDAQ

The SPY MFC green line is in the upper zone at 94 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

57 of 100 NDX stocks closed higher on Monday.

84 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, 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, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, MSFT, EA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

 

Moving Below 30 DMA = 1

BMRN,

Lower Open, Selloff, Rally SPY, QQQ, IWM Form Piercing Line Candle in Bull Flag Price Pattern...

© 2019

SPY, DIA, QQQ and IWM complete day 3 of a bull flag pattern and is a setup for a potential bounce on Monday:

• For a third day markets sold off but rallied Friday to form a bullish candle,
• GT -1.86, -9.05% on a negative earnings reaction,
• COTY, MAT, MSI and MHK gapped up on positive EPS reactions,
• EA +13.50, +16.05% rallied after a negative earnings reaction on Wednesday,
• There are numerous bull flag setups including AMD, CRM, NFLX, TXN, FB, SMH, AAPL and many more. 

The DJIA, closed down 63 points at 25,106, led by weakness in UNH, GS, WMT, WBA and JPM. 

Six of eleven sectors were higher on Friday, led by communication services XLC +0.68% and technology XLK +0.58%.

SPY up .33 at 270.47 on 75.7 million shares, 23% below average volume. Up on lower volume.

VIX down .65 at 15.72 

Oil up .10 at 52.71

TLT up .52 at 122.35 on 5.8 million shares. 

UTX +1.47%, PFE +1.27%, led the DJIA, 15 advancers, +12

COTY +32.15%, MAT +23.22% and MSI +14.12%, led the SPX.

EA +16.05%, WLWT +3.10%, ILMN +2.74%, and ADSK +2.49% led the NDX.

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

Up: QQQ, SPY, IWM

Down: DIA,

Breadth strengthened on Friday, as decliners led 1,482 to 1,386 on the NYSE and led 1,511 to 1,459 on the NASDAQ

The SPY MFC green line is in the upper zone at 96 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

67 of 100 NDX stocks closed higher on Friday.

85 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, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, MSFT, EA,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

EA,   

Moving Below 30 DMA = 5

COST, HSIC, WBA,

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