SPX Range Day 2, FOMC Announcement at 2 pm EST on Wednesday...

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After rising 30 points on Friday the SPX traded in a tight 13 and 16-point range on Monday and Tuesday.  The SPX is down 13 points from Fridays close.  The FOMC started its 2-day meeting today with its rate announcement Wednesday at 2 pm EST.  The FOMC is expected to leave rates unchanged.  

BMY made a new high and BX, BBY, BABA, C, AAPL, SMH, AXP, LRCX, JWN, IWM and HSY are horizontal breakout setups.

Four of eleven sectors were higher on Tuesday, led by XLV, XLE and XLK.

SPY down .35 at 313.53 on 53.1 million shares, slightly above average volume.  Down on higher volume.

VIX down .18 at 15.68

TLT up .01 at 138.66 on 4.9 million shares

UNH, AAPL, CVX led the DJIA, 15 advancers,

AZO, AAP, LB led the SPX, 211 advancers

NLOK, ATVI, EXPE, LBTYA led the NDX, 46 advancers

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

Up: IWM,

Down: QQQ, DIA, SPY,                                   

Breadth strengthened on Tuesday as advancers led 1,500 to 1,450 on the NYSE and led 1,611 to 1,1528 on the NASDAQ

The SPX MFC green line is above 80 and pointed up at 85 and is short-term bullish. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

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

46 of 100 NDX stocks closed higher on Tuesday.

65 NDX stocks are above their 30 DMA:  AAPL, ALGN, SWKS, ISRG, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, WBA, FOXA, FB, MAR, AVGO, BMRN, MSFT, HSIC, ADBE, ADSK, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, MELI, CERN, ILMN, GILD, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL, ADI, ASML, MCHP, NTAP, NXPI, TXN, XEL, ATVI, BIIB, JD, ALXN, NVDA, TSLA, ULTA, VRSN, KHC, EXPE, MU, ORLY, TTWO,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

EXPE, MU, ORLY, TTWO,

Moving Below 30 DMA = 3

BIDU, EXC, NFLX,

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SPX Pauses on Monday...

© 2019

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

Up:

Down: QQQ, SPY, IWM, DIA,                        

Breadth weakened on Monday as advancers led 1,475 to 1,450 on the NYSE and decliners led 1,812 to 1,348 on the NASDAQ

The SPX MFC green line crossed above 80 and is pointed up at 81 and is short-term bullish. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

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

64 NDX stocks are above their 30 DMA:  AAPL, ALGN, SWKS, ISRG, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, WBA, FOXA, FB, MAR, AVGO, BMRN, MSFT, NFLX, HSIC, ADBE, ADSK, BIDU, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, MELI, CERN, ILMN, GILD, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL, ADI, ASML, MCHP, NTAP, NXPI, TXN, XEL, ATVI, BIIB, JD, ALXN, EXC, NVDA, TSLA, ULTA, VRSN, KHC,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

KHC,

Moving Below 30 DMA = 9

BKNG, CDNS, CTSH, MU, ORLY, PYPL, TCOM, TTWO, WYNN,

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Strong Rally Follows Strong Job Report on Friday...

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

Up: DIA, IWM, QQQ, SPY,

Down:                                                                  

Breadth strengthened on Friday as advancers led 2,198 to 753 on the NYSE and led 2,241 to 909 on the NASDAQ

The SPX MFC green line turned up at 79 and is short-term bullish. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

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

82 of 100 NDX stocks closed higher on Friday.

72 NDX stocks are above their 30 DMA:  AAPL, ALGN, SWKS, ISRG, ORLY, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, WBA, FOXA, FB, MAR, AVGO, BMRN, MSFT, NFLX, HSIC, ADBE, ADSK, BIDU, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, MELI, CERN, ILMN, GILD, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL, TTWO, ADI, ASML, MCHP, NTAP, NXPI, TXN, XEL, ATVI, BIIB, JD, ALXN, BKNG, CDNS, CTSH, EXC, MU, NVDA, TCOM, TSLA, ULTA, VRSN, WYNN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 12

ALXN, BKNG, CDNS, CTSH, EXC, MU, NVDA, TCOM, TSLA, ULTA, VRSN, WYNN,

Moving Below 30 DMA = 1

KHC,

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SPX Trading Range Ahead of Jobs Report on Friday Morning...

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Futures rose in the pre-market and pulled back after the open and filled the gap.  The SPX traded in a tight 15-point range and closed near its high of the day.  November Jobs Report will be released at 8:30 am EST Friday morning.    The FOMC meets next Tuesday and Wednesday with its announcement on Wednesday afternoon at 2 pm EST.

DJIA closed up 28 at 27,677 led by strength in AAPL, UNH, NKE, V and FS.  Closing below 28,000 for the third straight day.

Seven of eleven sectors were higher on Thursday, led by XLB, XLF and XLC.

SPY up .56 at 312.02 on 40.7 million shares, below average volume.  Up on lower volume.

VIX down .28 at 14.52

Oil down .02 at 58.33

TLT down .68 at 139.12 on 7.2 million shares

GLD up .08 at 139.00

NKE, AAPL, UNH led the DJIA, 17 advancers, -6

PVH, FOSL, RL led the SPX, 303 advancers

BIIB, JD, LULU, BIDU led the NDX, 53 advancers

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

Up: QQQ, SPY, DIA, IWM,

Down:                                                                  

Breadth weakened on Thursday as advancers led 1,583 to 1,361 on the NYSE and decliners led 1,612 to 1,520 on the NASDAQ

The SPX MFC green line crossed below 80, is pointed down at 78 and is counter-trend defensive. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

53 of 100 NDX stocks closed higher on Thursday.

61 NDX stocks are above their 30 DMA:  AAPL, ALGN, SWKS, ISRG, ORLY, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, WBA, FOXA, FB, MAR, AVGO, BMRN, MSFT, NFLX, HSIC, ADBE, ADSK, BIDU, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, MELI, CERN, ILMN, GILD, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL, TTWO, ADI, ASML, MCHP, NTAP, NXPI, TXN, XEL, ATVI, BIIB, JD, KHC,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

ATVI, BIIB, JD, KHC,

Moving Below 30 DMA = 5

ALXN, CTXS, NVDA, TSLA, ULTA,

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SPX, DJI, NDX Bounce Up as VIX Drops Below 15...

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Futures rose in the pre-market after reports indicated the US was close to a preliminary trade deal with China.  The SPX did gap up from a hammer candle pattern on Tuesday.  The SPX, DJI and NDX are did trigger a channel bounce on Wednesday.

DJIA closed up 146 at 27,649 led by strength in GS, JPM, UNH, AAPL and JNJ.  Closing below 28,000 for the second day.

All eleven sectors were higher on Wednesday, led by XLE, XLF and XLV. 

SPY up 1.91 at 311.46 on 49.1 million shares, below average volume.  Up on lower volume.

VIX down 1.16 at 14.80

Oil up 2.03 at 58.35

TLT down 1.41 at 139.80 on 8.5 million shares

GLD down .19 at 138.92

JPM, GS, JNJ led the DJIA, 23 advancers, +18

LB, CPRI, PXD led the SPX, 388 advancers

EXPE, MCHP, ADI, KLAC led the NDX, 71 advancers

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

Up: IWM, SPY, DIA, QQQ,

Down:                                                                  

Breadth strengthened on Wednesday as advancers led 2,044 to 914 on the NYSE and led 1,965 to 1,189 on the NASDAQ

The SPX MFC green line is above 80, is turned down at 82 and is counter-trend defensive. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

71 of 100 NDX stocks closed higher on Wednesday.

62 NDX stocks are above their 30 DMA:  AAPL, CTXS, ALGN, CELG, SWKS, TSLA, ISRG, ORLY, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, WBA, FOXA, ALXN, FB, MAR, AVGO, BMRN, MSFT, NFLX, HSIC, ADBE, ADSK, BIDU, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, MELI, CERN, ILMN, GILD, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL, TTWO, ADI, ASML, MCHP, NTAP, NVDA, NXPI, TXN, ULTA, XEL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 9

ADI, ASML, MCHP, NTAP, NVDA, NXPI, TXN, ULTA, XEL,

Moving Below 30 DMA = 4

ATVI, CHTR, CTSH, WDAY,

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SPX Gaps Lower Forms Hammer Candle, Setup for a Potential Bounce on Wednesday...

© 2019

Futures sold off in the pre-market after the President indicated that it might be better to wait until after the 2020 election to sign a trade deal with China.  The SPX did bounce from its low of the day and formed a hammer candle pattern.  The SPX, DJI and NDX are set up for a potential channel bounce on Wednesday.

DJIA closed down 280 at 27,502 led by weakness in GS, AAPL, HD, BA and MMM.  Closing below 28,000 for the second day.

Two of eleven sectors were higher on Tuesday, led by XLRE and XLU.

SPY down 2.09 at 309.55 on 75.1 million shares, above average volume.  Down on similar volume.

VIX up 1.05 at 15.96

Oil up .33 at 56.32

TLT up 2.90 at 141.21 on 13.3 million shares

GLD up 1.32 at 139.11

MRK, VZ, PG led the DJIA, 5 advancers, -1

CCI, TTWO, SLG led the SPX, 132 advancers

TTWO, NTES, ILMN, ALXN led the NDX, 25 advancers

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

Up:

Down: IWM, SPY, DIA, QQQ,                        

Breadth strengthened slightly on Tuesday as decliners led 1,804 to 1,137 on the NYSE and led 1,973 to 1,189 on the NASDAQ

The SPX MFC green line is above 80, is turned down at 87 and is counter-trend defensive. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

25 of 100 NDX stocks closed higher on Tuesday.

57 NDX stocks are above their 30 DMA:  AAPL, CTXS, ALGN, CELG, CHTR, SWKS, TSLA, ISRG, ORLY, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, WBA, FOXA, ALXN, FB, MAR, AVGO, BMRN, MSFT, NFLX, HSIC, ADBE, ADSK, CTSH, BIDU, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, WDAY, MELI, CERN, ILMN, GILD, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, ATVI, GOOGL, TTWO,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

ATVI, GOOGL, TTWO,

Moving Below 30 DMA = 10

ADI, AMAT, AMZN, BIIB, CDNS, CHKP, INTC, NTAP, NVDA, NXPI,

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SPX Falls After ISM Mfg Index Report...VIX Jumps...Counter-trend Defensive...

© 2019

The ISM Mfg Index came in this morning at 48.1, below the consensus estimate of 49.4 and  below the November report of 48.3.  The SPX fell 27 points in reaction. This was a similar reaction to the SPX drop of 36 points after a lower than expected ISM Mfg Index report on October 1.

DJIA closed down 268 at 27,783 led by weakness in BA, GS, UTX, AAPL and HD.  Closing below 28,000 after closing above for four days last week.

One of eleven sectors was higher on Monday, led by XLP and XLE.

SPY down 2.67 at 311.64 on 75.7 million shares, above average volume.  Down on higher volume.

VIX up 2.29 at 14.91

Oil up .57 at 55.99

TLT down 2.11 at 138.31 on 17.7 million shares

GLD down .07 at 137.79

KO, PG, XOM led the DJIA, 6 advancers

XEC, EIX, MRO led the SPX, 95 advancers

TSLA, KHC, ULTA, ORLY led the NDX, 12 advancers

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

Up:

Down: DIA, SPY, QQQ, IWM,                        

Breadth weakened on Monday as decliners led 2,142 to 818 on the NYSE and led 2,272 to 894on the NASDAQ

The SPX MFC green line is above 80, but turned down at 94 and is counter-trend defensive. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: down

12 of 100 NDX stocks closed higher on Monday.

64 NDX stocks are above their 30 DMA:  AAPL, CTXS, ALGN, CELG, CHTR, NVDA, SWKS, TSLA, INTC, ISRG, ORLY, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, NTAP, WBA, FOXA, BIIB, ALXN, FB, MAR, AMAT, AVGO, BMRN, MSFT, NFLX, CHKP, NXPI, HSIC, ADBE, ADSK, CTSH, BIDU, CDNS, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, WDAY, MELI, CERN, ILMN, GILD, ADI, AMZN, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, 

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 13

ASML, ATVI, GOOGL, JD, MCHP, MU, SNPS, TCOM, TTWO, TXN, UAL, VRSN, WYNN,

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