SPX, DJI, NDX Decline for Second Day as BA, AAPL Move Lower...WDC, MU Bounce...

© 2019

The oft repeated narrative today infers that stocks closed lower for the second straight day as investor hopes for deep rate cuts fade.  Really?  BA and AAPL accounted for 53% of the point decline in the DJIA on Tuesday.  Do you really think selling today in BA or AAPL is due to hopes fading for rate cuts?  Really?

The DJIA, closed down 115 points at 26,806, led by weakness in BA, AAPL, MMM, GS and UTX.  Closing above 26,000 above for the twentieth straight day. 

Five of eleven sectors were higher on Monday, led by real estate XLRE +0.37% and utilities XLU +0.15%. 

SPY down 1.64 at 296.82 on 45.8 million shares, 21% below average volume.  Down on lower volume.

VIX up .68 at 13.96

Oil down .16 at 57.57

TLT up .18 at 132.61 on 6.4 million shares. 

NKE +1.91%, PG +0.80%, led the DJIA, 10 advancers, 0

EIX +3.14%, BHGE +2.61% and ZBH +2.45%, led the SPX.

WDC +2.78%, MU +2.51%, SYMC +2.44% and ULTA +2.24% led the NDX.

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

Up:

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Monday, as decliners led 1,844 to 1,030 on the NYSE and led 2,174 to 923 on the NASDAQ

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

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

Neutral sectors:  XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

23 of 100 NDX stocks closed higher on Monday.

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

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

BIDU, BIIB, FAST, HSIC, LRCX, NTAP, NTES,

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Good News is Bad, That's the Narrative on the Strong Jobs Report...

© 2019

The DJIA, closed down 43 points at 26,922, led by weakness in MMM, MCD, JNJ, MRK and PG.  Closing above 26,000 above for the nineteenth straight day.  

Four of eleven sectors were higher on Friday, led by financials XLF +0.28% and energy XLE +0.14%. 

SPY down .34 at 298.46 on 51.6 million shares, 24% below average volume.  Down on higher volume.

VIX up .71 at 13.28

Oil up .33 at 57.73

TLT down 1.78 at 132.43 on 12.1 million shares. 

GS +0.90%, UNH +0.73%, led the DJIA, 10 advancers, -16

FOSL +3.80%, SWN +3.51% and JEF +3.38%, led the SPX.

WDC +1.21%, AMD +0.99%, ROST +0.88% and GOOGL +0.86% led the NDX.

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

Up: IWM,

Down: DIA, SPY, QQQ,

Breadth weakened on Friday, as decliners led 1,466 to 1,404 on the NYSE and advancers led 1,653 to 1,402 on the NASDAQ

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

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

Neutral sectors:  XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

30 of 100 NDX stocks closed higher on Friday.

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

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

BMRN, EA, REGN,

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New All-time Closing High in SPX, DJI, NDX, SPY, DIA, QQQ...DJI on the Brink of 27,000...

© 2019

Have a Happy Fourth of July!!!

Celebrate Freedom and Honor all who have willingly sacrificed knowing that Freedom and the unalienable rights of Life, Liberty and the Pursuit of Happiness are not free.  May all Americans have a greater respect and sense of responsibility to the fact that in the history of Mankind, none have had greater blessings than we now enjoy.

On January 18, 2018 the DJIA closed above 26,000 for the first time in history.  Since that time it has spent the majority of the time ranging between 23,500 and 26,950, except for ten days beginning on December 19.  The DJIA sits just 34 points below 27,000.  Will the DJIA make history on Friday with a close above 27,000?

The DJIA, closed up 179 points at 26,966, led by strength in MCD, PG, JNJ, HD and AAPL.  Closing above 26,000 above for the eighteenth straight day. 

All eleven sectors were higher on Wednesday, led by real estate XLRE +1.44% and staples XLP +1.24%. 

SPY up 2.37 at 298.80 on 40.9 million shares in a half day of trading, 40% below average volume for a full day. Adjusting the percentage for the half day of trading, volume was 10% above average. Up on lower volume than Tuesday.

VIX down .36 at 12.57

Oil up 1.08 at 57.40

TLT up .95 at 134.21 on 5.3 million shares. 

PG +2.33%, MRK +1.63%, led the DJIA, 26 advancers, +5

JEF +6.42%, K +6.30% and CAG +5.96%, led the SPX.

SYMC +13.57%, TSLA +4.61%, SBUX +2.67% and KHC +2.39% led the NDX.

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

Up: SPY, QQQ, IWM, DIA,

Down: 

Breadth strengthened on Wednesday, as advancers led 2,070 to 749 on the NYSE and led 1,972 to 1,030 on the NASDAQ

The SPY MFC green line is pointed up in the upper zone at 93 and is short-term bullish. 

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

Neutral sectors:  XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

77 of 100 NDX stocks closed higher on Wednesday.

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

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

ADP, BMRN, HSIC, TMUS, ULTA,

Moving Below 30 DMA = 0

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Late Rally Lifts SPX/SPY to New All-time Closing High...

© 2019

Both SPX/SPY hit a new all-time closing high on Tuesday.  This was notwithstanding weakness in energy stocks and semiconductor stocks.  Fourteen semi stocks including WDC rolled over today and closed below the low of the high day.

The DJIA, closed up 69 points at 26,786, led by strength in MCD, VZ, TRV, V and UNH.  Closing above 26,000 above for the seventeenth straight day. 

Seven of eleven sectors were higher on Tuesday, led by real estate XLRE +1.85% and utilities XLU +1.36%. 

SPY up .77 at 296.43 on 61.5 million shares, 10% below average volume. Up on lower volume.

VIX down 1.13 at 12.93

Oil down 2.87 at 56.32

TLT up 1.02 at 133.26 on 10.4 million shares. 

VZ +2.59%, CSCO +1.95%, led the DJIA, 21 advancers, -3

HCP +3.14%, IPG +2.97% and WELL +2.97%, led the SPX.

ORLY +2.34%, ALXN +2.13%, SIRI +2.10% and FOXA +1.87% led the NDX.

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

Up: QQQ, SPY, DIA,

Down: IWM,

Breadth weakened on Tuesday, as advancers led 1,574 to 1,332 on the NYSE and decliners led 1,748 to 1,336 on the NASDAQ

The SPY MFC green line turned up in the upper zone at 88 and is short-term bullish. 

Uptrend sectors: XLP, XLRE, XLU, XLY, XLK, XLB, XLI, XLC, XLV,

Neutral sectors:  XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

61 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

CSCO, ORLY,

Moving Below 30 DMA = 2

ADP, HSIC,

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SPX/SPY New All-time Closing High Following US/China Trade Truce at G20 Meeting on Saturday...

© 2019

The DJIA, closed up 117 points at 26,717, led by strength in AAPL, HD, GS, DIS and IBM.  Closing above 26,000 above for the sixteenth straight day. 

Nine of eleven sectors were higher on Monday, led by technology XLK +1.59% and financials XLF +1.20%. 

SPY up 2.66 at 295.66 on 79.1 million shares, 15% above average volume. Up on higher volume.

VIX down 1.02 at 14.06

Oil up .99 at 59.19

TLT down .57 at 132.24 on 14.1 million shares. 

AAPL +1.83%, NKE +1.74%, led the DJIA, 24 advancers, +7

QRVO +5.96%, WDC +4.42% and AVGO +4.34%, led the SPX.

SWKS +6.00%, WYNN +5.86%, MCHP +5.42% and CTRP +4.74% led the NDX.

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

Up: QQQ, SPY, DIA, IWM,

Down:

Breadth weakened slightly on Monday, as advancers led 1,712 to 1,193 on the NYSE and led 1,810 to 1,310 on the NASDAQ

The SPY MFC green line turned up in the upper zone at 85 and is short-term bullish. 

Uptrend sectors: XLP, XLRE, XLU, XLY, XLK, XLB, XLI, XLC, XLV,

Neutral sectors:  XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

85 of 100 NDX stocks closed higher on Monday.

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

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 6

ADSK, CMCSA, GOOGL, NTAP, NTES, WDAY,

Moving Below 30 DMA = 2

BMRN, ULTA,

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