NDX, SPX Close at All-time Highs, RUT, DJI Continue Support towards Resistance...Financial, Communication Services Lead Sectors...

 
 © 2021
 

The SPX broke out to new all-time closing high. 
 
The NDX rose to a new all-time closing high for the third day in a row.
 
Semiconductor stocks, SMH moved higher in a channel bounce continuation and is a breakout setup. 
 
DJI +322.58, +0.95%, closed at 34,196.  GS, BA, CAT and UNH were the largest point gainers on Thursday.
NDX +91.72, +0.64%, closed at 14,365.
SPX +24.65, +0.58%, closed at 4,266.
 
TSLA +3.54%, reversal breakout continuation.
 
 
SPY = BO setup.
DIA = Channel bounce continuation.
QQQ = BO continuation to new all-time closing high.
IWM = Bull flag bounce continuation.
 
Nine of eleven sectors were higher on Thursday, led by XLF, XLC and XLE.
 
Financial leaders: RE, WFC, SPGI, HBAN
Communication Services leaders: DISCA, TWTR, VIAC, ATVI
Energy leaders: SWN, FANG, OXY, DVN,  
 
 
SPY up 2.50 at 425.10, on 45.0 million shares, below average volume, up on lower volume.  
VIX down .35 at 15.97
 
BA, CAT, GS, DIS led the DJIA, 28 advancers, +21
LLY, VMC, DRI, SWN led the SPX, 375 advancers.
PDD, MRNA, PTON, TSLA led the NDX, 84 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, QQQ, SPY,
Down:
 
Advancers strengthened on Thursday as advancers led 2,273 to 1,046 on the NYSE and led 3,081 to 1,246 on the NASDAQ.
 
The SPY MFC green line is pointed up at 80.6 and is bullish.  SPY hit an intra-day all-time high and closed 36 cents below its June 15 high and is a breakout setup. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLRE, XLE, XLY, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
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
 
84 of 100 NDX stocks closed higher on Thursday.
 
68 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, ASML, AVGO, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, INCY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, FOXA, BIDU, KLAC, LRCX, NXPI, PDD, ROST, SBUX, SIRI, TXN, VRSK,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 10
BIDU, KLAC, LRCX, NXPI, PDD, ROST, SBUX, SIRI, TXN, VRSK,
 
 
Moving Below 30 DMA = 0
 

 
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NDX New All-time Closing High as Indexes Pause after Strong 2-day Rally...

 
© 2021
 

 
The NDX broke out to a new all-time closing high for the second day in a row.
 
Semiconductor stocks, SMH moved above Tuesday’s high in a channel bounce. 
 
DJI -71.34, -0.21%, closed at 33,874.  UNH, MMM, IBM and CRM were the largest point decliners on Wednesday.
NDX +3.82, +0.94%, closed at 14,274.
SPX -4.60, -0.11%, closed at 4,241.
 
TSLA +5.27%, a reversal W-pattern channel breakout.
 
 
SPY = Re-BO setup.
DIA = Channel bounce pause.
QQQ = BO to new all-time closing high.
IWM = Bull flag bounce continuation.
 
Three of eleven sectors were higher on Wednesday, led by XLY, XLE and XLF.
 
Consumer Discretionary leaders: TSLA, UAA, F, PVH, LB
Energy leaders: SWN, OXY, COG, DVN
Financial leaders: ICE, RJF, HBAN, CMA
 
 
SPY down .51 at 422.60, on 49.3 million shares, below average volume, down on lower volume.  
VIX down .34 at 16.32
 
DIS, GS, AXP, JPM led the DJIA, 7 advancers, -6
LB, ETSY, CTAS, TWTR led the SPX, 203 advancers.
TSLA, PDD, MELI, MU led the NDX, 44 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ,
Down: SPY, DIA,
 
Advancers were mixed on Wednesday as advancers led 1,716 to 1,565 on the NYSE and led 2,467 to 1,843 on the NASDAQ.
 
The SPY MFC green line turned up at 77.7 and is bullish.  SPY tested Tuesday’s breakout and closed 22 cents below its May 7 resistance. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLRE, XLE, XLY, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
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
 
44 of 100 NDX stocks closed higher on Wednesday.
 
58 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, ASML, AVGO, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, INCY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, FOXA,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 9
ADP, CERN, CHKP, CMCSA, CSCO, SBUX, SIRI, TXN, VRSK,
 
 
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NDX, QQQ New All-time Closing High, XLY, XLK, XLC Lead Sectors on Tuesday...

 
© 2021
 

The NDX broke out to a new all-time closing high.
 
Semiconductor stocks, SMH moved above Monday’s high. 
 
DJI +68.61, +0.20%, closed at 33,945.  HD, MSFT, NKE and AAPL were the largest point gainers on Tuesday.
NDX +133.19, +0.94%, closed at 14,270.
SPX +21.65, +0.51%, closed at 4,246.
 
TSLA +0.46%, channel bounce pause at short-term resistance.
 
 
SPY = Re-BO.
DIA = Channel bounce continuation.
QQQ = BO to new all-time closing high.
IWM = Bull flag bounce continuation.
 
Nine of eleven sectors were higher on Tuesday, led by XLY, XLK and XLC.
 
Consumer Discretionary leaders: LB, ETSY, TSCO, BBY
Technology leaders: ENPH, NVDA, NOW, XLNX, GLW
Communication Services leaders: TWTR LYV, NFLX, FB
 
 
SPY up 2.25 at 420.86, on 57.7 million shares, below average volume, up on lower volume.  
VIX down 1.23 at 16.66
 
NKE, HD, AAPL, MSFT led the DJIA, 13 advancers, -17
LB, ETSY, CTAS, TWTR led the SPX, 261 advancers.
SPLK, PTON, MRNA, OKTA led the NDX, 64 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, IWM, DIA,
Down:
 
Advancers weakened on Monday as advancers led 1,772 to 1,506 on the NYSE and led 2,266 to 2,054 on the NASDAQ.
 
The SPY MFC green line is pointed down at 77.3 and is defensive.  SPY broke through its May 7 resistance nearing its all-time high at 425.46. 
 
 
Uptrend sectors:  XLK, XLC, XLV, XLRE, XLE, XLP, XLU, XLI, XLY, XLF, XLB,
Neutral sectors: 
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 a little
 
64 of 100 NDX stocks closed higher on Tuesday.
 
68 NDX stocks are above their 30 DMA:  CERN, ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, ASML, AVGO, LRCX, SNPS, MRNA, PYPL, SIRI, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, CHKP, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, CMCSA, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, INCY, NFLX, OKTA, TSLA, VRSN,
ADP, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, TXN, VRSK, CSCO, FOXA, SBUX,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
CSCO, FOXA, SBUX,
 
Moving Below 30 DMA = 1
MAR,
 
 
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Buyers Reverse Friday's Selloff...Energy, Financial, Industrials Lead Sectors as Breadth Expands on Monday...

© 2021
 
The SPX and DJI reversed Friday’s selloff and closed above Thursday’s close as sellers in these indexes had exhausted and buyers took over.  The SPX close 31 points below its all-time high.
 
The NDX reversed most of Friday’s sell off, did a re-breakout and closed 26 points below its all-time high last Thursday.
 
Semiconductor stocks, SMH formed a hammer at short-term support. 
 
DJI +586.89, +1.76%, closed at 33,876.  GS, UNH BA and AXP were the largest point gainers on Monday.
NDX +87.65, +0.62%, closed at 14,137.
SPX +58.34, +1.40%, closed at 4,224.
 
TSLA -0.40%, channel bounce pause at short-term resistance.
 
 
All eleven sectors were higher on Monday, led by XLE, XLF and XLI.
 
Energy leaders: APA, HES, EOG, FTI
Financial leaders: ZION, UNM, AXP, SIVB
Industrials leaders: SNA, URI, TT, TXT
 
 
SPY up 5.94 at 420.86, on 72.8 million shares, average volume, up on lower volume.   
VIX down 2.81 at 17.89
 
AXP, BA, CVX, TRV led the DJIA, 30 advancers, +30
APA, HES, EOG, FTI led the SPX, 480 advancers.
MRNA, ROST, MAR, CPRT led the NDX, 77 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Advancers strengthened on Monday as advancers led 2,465 to 851 on the NYSE and led 2,534 to 1,826 on the NASDAQ.
 
The SPY MFC green line turned down at 78.6 and is defensive.  SPY bounced above the high of the low day on Friday. 
 
 
Uptrend sectors:  XLRE, XLC, XLK, XLV, XLE, XLP, XLU, XLI, XLF, XLB,
Neutral sectors:  XLY,
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: Down a little
 
77 of 100 NDX stocks closed higher on Monday.
 
66 NDX stocks are above their 30 DMA:  CERN, ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, ASML, AVGO, LRCX, SNPS, MRNA, PYPL, SIRI, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, CHKP, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, CMCSA, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, INCY, NFLX, OKTA, TSLA, VRSN,
ADP, ADSK, AMAT, CDW, CHTR, COST, JD, MAR, ORLY, SWKS, TXN, VRSK,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 12
ADP, ADSK, AMAT, CDW, CHTR, COST, JD, MAR, ORLY, SWKS, TXN, VRSK,
 
Moving Below 30 DMA = 1
FOXA,
 
 
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SPX Pulls Back Day Four as All Sectors Move Lower...

 
© 2021
 


 
The NDX pulled back and tested Thursday’s breakout.
 
Semiconductor stocks, SMH fell to short-term support. 
 
DJI -533.37, -1.58%, closed at 33,290.  GS, UNH, MCD and TRV were the largest point decliners on Friday.
NDX -114.22, -0.81%, closed at 14,049.
SPX -55.41, -1.31%, closed at 4,166.
 
TSLA +1.09%, channel bounce continuation.
 
 

 
All eleven sectors were lower on Friday, led by XLY, XLK and XLV.
 
Consumer Discretionary leaders: LEN, NVR, POOL, DHI
Technology leaders: ADBE, ENPH, PYPL, PAYC
Health Care leaders: ABMD, DXCM, BIIB, INCY
 
 
SPY down 5.67 at 414.92, on 118.6 million shares, above average volume, down on higher volume.  Went ex-dividend on Friday with 
VIX up 2.95 at 20.70
 
HD, CAT, NKE, MSFT led the DJIA, 0 advancers, -12
LEN, ENPH, GNRC, ABMD led the SPX, 51 advancers.
DOCU, OKTA, ADBE, MTCH led the NDX, 27 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, SPY, DIA, IWM,
 
Advancers weakened on Friday as decliners led 2,496 to 837 on the NYSE and led 3,035 to 1,288 on the NASDAQ.
 
The SPY MFC green line turned down at 82.7 and is counter-trend defensive.  Prepare to become defensive if pullback continues Monday.  SPY pulled back for a fourth day after an all-time closing high on Monday. 
 
 
Uptrend sectors:  XLRE, XLC, XLK, XLV, XLE, XLP, XLU, XLI, XLF, XLB,
Neutral sectors:  XLY,
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: Down
 
27 of 100 NDX stocks closed higher on Friday.
 
55 NDX stocks are above their 30 DMA:  CERN, ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, ASML, AVGO, LRCX, SNPS, MRNA, PYPL, SIRI, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, CHKP, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, CMCSA, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, INCY, NFLX, OKTA, TSLA, VRSN, FOXA,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
FOXA,
 
Moving Below 30 DMA = 15
ADP, AMAT, BKNG, CDW, CHTR, COST, EXC, INTC, JD, KLAC, MDLZ, PEP, SWKS, TXN, VRSK,
 
 
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