NDX Leads as SPX Pauses at ST Resistance...

© 2020

NDX +78.57, +0.85%, opened lower and closed higher to lead the broad indexes on Monday.

SPX +0.52, +0.02%, gapped lower, and traded up to close at Friday’s close, neutral pause day. 

Monday’s price action was a pause at resistance.

SPX is a horizontal resistance breakout setup.

Three of eleven sectors were higher on Monday, led by XLV, XLK and XLC

SPY up 0.06 at 292.50 on 79.5 million shares, below average volume, Up on higher volume.

VIX down .41 at 27.57

PFE, MRK AAPL led the DJIA, 12 advancers, -18

GCI, CAH, ABBV MKTX led the SPX, 449 advancers

ZM, VRTX, AMD BIIB led the NDX, 50 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a HBO setup and the 3-day short term trend is up.

Up: QQQ, SPY,

Down: DIA, IWM

Breadth weakened on Monday as decliners led 1,911 to 1,005 on the NYSE and led 1,816 to 1,469 on the NASDAQ

The SPX MFC green line turned up at 89 and is short-term bullish.  Price action is a bull flag bounce continuation.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB,

Neutral sectors:  XLE, XLU, XLRE, XLI, XLF,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

50 of 100 NDX stocks closed higher on Monday.

91 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CTSH, EBAY, FAST, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, ADBE, ALGN, TSLA, BMRN, VRSK, PAYX, MAR, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, CTXS, AMD, ZM, AMAT, JD, MU, NTAP, NTES, XLNX, BIIB, BKNG, FOXA, TMUS, CERN, DLTR, EXC, LRCX, WDC, ALXN, GILD,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

ALXN, GILD,

Moving Below 30 DMA = 2

BIDU, CMCSA,

Add Comments here:

Breadth Strengthens with SPX in Seven-week Up Trend...

© 2020

SPX +48.61, +1.69%, gapped higher, and traded up to close at its highest weekly close in nine weeks. 

• Friday’s price action was a bull flag bounce continuation.
• SPX is a horizontal resistance breakout setup.
• Highest weekly close in the current seven-week uptrend. 
• April Employment Situation was 20.5 million jobs lost vs. consensus of 21.5 million and the unemployment rate of 14.7% beat 16.4% consensus.

All eleven sectors were higher on Friday, led by XLE, XLI and XLB

SPY up 4.76 at 292.44 on 76.6 million shares, below average volume, Up on higher volume.

VIX down 3.46 at 27.98

DOW, CAT, XOM led the DJIA, 30 advancers, +14

NWSA, NBL, CARR GCI led the SPX, 449 advancers

UAL, LRCX EXC AAL led the NDX, 81 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a bull flag setup and the 3-day short term trend is up.

Up: IWM, DIA, SPY, QQQ,

Down:

Breadth strengthened on Friday as advancers led 2,479 to 488 on the NYSE and led 2,492 to 791 on the NASDAQ

The SPX MFC green line turned up at 87 and is short-term bullish.  Price action is a continuation in a bull flag bounce.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB,

Neutral sectors:  XLE, XLU, XLRE, XLI, XLF,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

81 of 100 NDX stocks closed higher on Friday.

91 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CTSH, EBAY, FAST, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, ADBE, ALGN, TSLA, BMRN, VRSK, PAYX, MAR, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, CTXS, AMD, ZM, AMAT, JD, MU, NTAP, NTES, XLNX, BIIB, BKNG, FOXA, TMUS, BIDU, CERN, CMCSA, DLTR, EXC, LRCX, WDC,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

BIDU, CERN, CMCSA, DLTR, EXC, LRCX, WDC,

Moving Below 30 DMA = 0

  

Add Comments here:

IWM Leads as SPX Bull Flag Bounce Continues...Jobs Report Friday Before the Open...

© 2020

SPX +32.77, +0.90%, gapped higher, traded in a range and gained more than Wednesday’s pullback making its highest close this week.  Today’s action was a bull flag bounce continuation. 

Thursday’s Weekly Jobless Claims was 3,169 million above estimate of 3.041 million.  The April Employment Situation jobs report will be out Friday before the open.

SPY up 3.43 at 287.68 on 74.8 million shares, below average volume, Up on higher volume.

VIX down 2.68 at 31.44

BA, DIS, AXP led the DJIA, 16 advancers, +10

FTNT, LNC, AMP, IRM led the SPX, 385 advancers

PYPL, TMUS, MAR, WDAY led the NDX, 77 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a bull flag setup and the 3-day short term trend is up.

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Thursday as advancers led 2,146 to 770 on the NYSE and led 2,295 to 956 on the NASDAQ

The SPX MFC green line is pointed down at 85 and is counter-trend defensive.  Price action is a continuation in a bull flag bounce.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB,

Neutral sectors:  XLE, XLU, XLRE, XLI, XLF,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

77 of 100 NDX stocks closed higher on Thursday.

84 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CTSH, EBAY, FAST, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, ADBE, ALGN, TSLA, BMRN, VRSK, PAYX, MAR, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, CTXS, AMD, ZM, AMAT, JD, MU, NTAP, NTES, XLNX, BIIB, BKNG, FOXA, TMUS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

BIIB, BKNG, FOXA, TMUS,  

Moving Below 30 DMA = 1

CERN,   

Add Comments here:

NDX Leads as SPX Bull Flag Bounce Pauses...Weekly Jobless Claims Before the Open...

© 2020

SPX -20.02, -0.70%, gapped higher, pulled back and traded in a rang until the final hour when it sold off and closed lower for the day giving back about 80% of Tuesday’s gain.  Today’s action was a pause in the bull flag bounce that happened Tuesday.  The trend is still up and the higher low bull flag is still a valid trend continuation pattern.

Thursday the Weekly Jobless Claims report estimated to be 3.041 million will be out at 8:30 am ET.  The April Employment Situation jobs report will be out Friday before the open.

Ten of eleven sectors were lower on Wednesday, led by XLK, XLY and XLC

SPY down 1.94 at 284.25 on 72.9 million shares, below average volume, Down on lower volume.

VIX up .51 at 34.12

NKE, AAPL, MSFT led the DJIA, 6 advancers, -16

DLPH, FLIR, DVA, BWA led the SPX, 124 advancers

MELI, ATVI, KLAC, ALGN led the NDX, 65 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a bull flag setup and the 3-day short term trend is sideways.

Up: QQQ,

Down: SPY, IWM, DIA,

Breadth weakened on Wednesday as decliners led 1,026 to 902 on the NYSE and led 1,933 to 1,311 on the NASDAQ

The SPX MFC green line is pointed down at 87 and is counter-trend defensive.  Price action is in a pause in a bull flag bounce.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB,

Neutral sectors:  XLE, XLU, XLRE, XLI, XLF,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Sideways

65 of 100 NDX stocks closed higher on Wednesday.

81 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CERN, CTSH, EBAY, FAST, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, ADBE, ALGN, TSLA, BMRN, VRSK, PAYX, MAR, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, CTXS, AMD, ZM, AMAT, JD, MU, NTAP, NTES, XLNX,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

XLNX,

Moving Below 30 DMA = 5

ALXN, BKNG, GILD, TMUS, XEL,  

Add Comments here:

SPX Bull Flag Bounce...Momentum Pauses after Fed's Clarida Interview...

© 2020

The SPX +25.70, +0.90%, gapped higher and trended up in a bull flag bounce entry signal.  The SPX pulled back during the last hour after an interview with the Fed’s vice chairman Clarida discussing the slowing economy due to Covid-19.   

Ten of eleven sectors were higher on Tuesday, led by XLV, XLK and XLU

SPY up 2.62 at 286.19 on 79.1 million shares, below average volume, Up on similar volume.

VIX down 2.36 at 33.61

PFE, UNH, HD led the DJIA, 22 advancers, +9

IPGP, JKHY, SEE, MOS led the SPX, 331 advancers

SPLK, SGEN, REGN, SWKS led the NDX, 81 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a bull flag setup and the 3-day short term trend is down.

Up: QQQ, SPY, IWM, DIA

Down:

Breadth strengthened on Tuesday as advancers led 1,644 to 1,306 on the NYSE and led 1,774 to 1,477 on the NASDAQ

The SPX MFC green line is at 90 and is counter-trend defensive.  Price action is in a bull flag bounce today.

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

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

81 of 100 NDX stocks closed higher on Tuesday.

85 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CERN, CTSH, EBAY, FAST, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, CTXS, AMD, ZM, AMAT, JD, MU, NTAP, NTES,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 5

AMAT, JD, MU, NTAP, NTES

Moving Below 30 DMA = 2

DLTR, FOXA,

Add Comments here:

SPX Open Lower, Close Higher...Day 3 Bull Flag Setup...

© 2020

The SPX +12.03, +0.42%, opened lower, formed an intraday reversal pattern and closed higher.  The SPX is a three-day bull flag setup and horizontal re-breakout setup.

Six of eleven sectors were higher on Monday, led by XLE, XLK and XLU

SPY up .78 at 283.57 on 80.8 million shares, below average volume, Up on lower volume.

VIX down 1.22 at 35.97

XOM, MSFT, CVX led the DJIA, 13 advancers, +12

PSX, SWN, VLO, MPC led the SPX, 249 advancers

TSLA, SGEN, AMD, VRTX led the NDX, 71 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a bull flag setup and the 3-day short term trend is down.

Up: QQQ, IWM, SPY, DIA

Down:

Breadth strengthened on Monday as decliners led 1,567 to 1,370 on the NYSE and advancers led 1,765 to 1,497 on the NASDAQ

The SPX MFC green line turned down at 90 and is a bull flag and counter-trend defensive.

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

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

71 of 100 NDX stocks closed higher on Monday.

82 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXPE, FISV, NXPI, CPRT, SIRI, TCOM, DLTR, CTXS, AMD, ZM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

AMD, ZM,

Moving Below 30 DMA = 4

CMCSA, MDLZ, MU, NTAP,

Add Comments here:

SPX Down after AMZN, AAPL EPS, Musk Tweet on TSLA...SPX Falls Forming 2-day Bull Flag...

© 2020

The SPX -81.72, -2.81%, opened down 43 points after AMZN -187.96, -7.60% and AAPL -4.73, -1.61%, had negative EPS reaction Thursday after the close.  AMZN continued to fall on Thursday while AAPL did close higher that its open.

Late morning, about 11:13 am ET, TSLA was down about $20 when Elon Musk tweeted that he thought TSLA stock was too high and both TSLA -80.56, -10.30%, and the broad market sold off.

WDC -5.60, -12.15%, V -3.15, -1.76%, also moved lower Friday after reporting EPS Thursday evening.

The SPX is a two-day bull flag setup and horizontal re-breakout setup.

All eleven sectors were lower on Friday, led by XLP, XLC and XLV

SPY down 7.69 at 282.79 on 125.1 million shares, below average volume, Down on higher volume.

VIX up 2.92 at 37.19

WMT, HD, KO led the DJIA, 1 advancer, -5

FBHS, CLX AON, WLTW led the SPX, 28 advancers

LBTYA, SGEN, MELI, CHTR led the NDX, 9 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. The trend is forming a bull flag setup and the 3-day short term trend is down.

Up:

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Friday as decliners led 2,535 to 438 on the NYSE and led 2,715 to 556 on the NASDAQ

The SPX MFC green line turned down at 93 and is a bull flag and counter-trend defensive.

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

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

9 of 100 NDX stocks closed higher on Friday.

84 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, QCOM, SBUX, AAPL, ADP, ADSK, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, DLTR, CTXS,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

CTXS,

Moving Below 30 DMA = 11

AAL, AMAT, AMD, BIDU, EXC, JD, LRCX, NTES, UAL, WDC, XLNX,

Add Comments here: