Stocks Rally Following FOMC Minutes...IWM, DIA Bull Flag Setups...

© 2018

Stocks opened lower on Wednesday, following comments on Tuesday regarding progress on a China trade deal.  Buying momentum returned following the release of the FOMC minutes at 2 pm EDT and stocks finished Wednesday near their highs.    

IWM and DIA are bull flag setups while SPY and QQQ are horizontal breakout setups.   

The DJIA, closed up 52 points at 24,886, led by strength in BA, MCD, CAT, AAPL and V.

Six sectors were higher on Wednesday, led by utilities XLU +0.91% and real estate XLRE +0.81%.

SPY up .75 at 273.36 on 64.6 million shares, 11% below average volume. Up on higher volume.

VIX down .64 at 12.58

Oil down .30 to 71.83

TLT up .85 at 117.94 on 9.6 million shares.

INTC +1.40%, MCD +1.36%, led the DJIA, 16 advancers.

TIF +23.29%, RL +14.34% and LOW +10.43%, led the SPX.

CTRP +3.98%, NFLX +3.95%, ALGN +3.47%, and MELI +3.40%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, DIA, IWM,

Down:

Breadth strengthened on Wednesday, as advancers led 1,495 to 1,388 on the NYSE and led 1,533 to 1,327 on the NASDAQ.

The SPY MFC green line is in the upper zone and is at 89, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

68 of 100 NDX stocks closed higher on Wednesday.

67 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

STX,

Moving Below 30 DMA = 3

CMCSA, PCAR, WDAY,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

Add Comments here

SPY Pulls Back on Light Volume...MU Jumps on Share Buyback, Financials Lead Sectors...

© 2018

After spending most of the day in a trading range, SPY, DIA, QQQ, and IWM sold off in last 90 minutes to close lower.  IWM made a slightly higher intra-day high before closing lower for the first time in five days.

The DJIA, closed down 178 points at 24,834, led by weakness in BA, HD, MMM, UNH, CAT and MCD.

MU +6.40%, led the NDX after announcing a $10 billion share buyback.

Three sectors were higher on Tuesday, led by industrial XLI +0.67% and utilities XLU +0.37%.

SPY down .76 at 272.61 on 52.9 million shares, 28% below average volume. Down on lower volume.

VIX up .14 at 13.22

Oil down .53 to 72.13

TLT down .18 at 117.09 on 4.7 million shares.

VZ +0.78%, JPM +0.77%, led the DJIA, 9 advancers.

TJX +3.25%, FITB +3.20% and KIM +3.14%, led the SPX.

MU +6.40%, CELG +2.57%, KLAC +1.96%, and ESRX +1.61%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up:

Down: QQQ, SPY, DIA, IWM,

Breadth weakened on Tuesday, as decliners led 1,743 to 1,156 on the NYSE and led 1,668 to 1,217 on the NASDAQ.

The SPY MFC green line is in the upper zone and is at 88, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

40 of 100 NDX stocks closed higher on Tuesday.

69 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

CMCSA,

Moving Below 30 DMA = 2

AAL, WBA,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

Add Comments here

IWM All-time Closing High...DJIA Closes Above 25,000...Industrials, Energy Leads Sectors as MU Leads NDX...

© 2018

IWM made another new all-time closing high, following the breakout of its 3 ½ month ascending triangle on Wednesday.  Intermediate term price target is the 176 area.

The DJIA, closed up 298 points at 25,013, above 25,000 for the first time since March 13, led by strength in BA, UNH, CAT, UTX, MMM and HD.

Ten sectors were higher on Monday, led by industrial XLI +1.51% and energy XLE +1.02%.

SPY up 2.04 at 273.37 on 58.0 million shares, 23% below average volume. Up on lower volume.

VIX down .34 at 13.08

Oil up 1.18 to 72.66

TLT up .06 at 117.27 on 4.4 million shares.

BA +3.61%, UTX +2.28%, led the DJIA, 28 advancers.

RRC +6.00%, SWN +4.65% and KIM +4.20%, led the SPX.

MU +3.91%, TSLA +2.77%, WYNN +2.72%, and ASML +2.62%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: DIA, SPY, IWM, QQQ

Down:

Breadth strengthened on Monday, as advancers led 2,056 to 852 on the NYSE and led 1,749 to 1,156 on the NASDAQ.

The SPY MFC green line is in the upper zone and is at 87, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

64 of 100 NDX stocks closed higher on Monday.

70 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 6

AAL, ASML, AVGO, LRCX, PCAR, WYNN

Moving Below 30 DMA = 2

BIDU, CMCSA,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

Add Comments here

IWM Posts Another All-time Closing High as AMAT, BIDU, STX and LRCX Weigh on NDX...

© 2018

Monthly expiration Friday produced a range day in DIA, SPY and QQQ, which closed slightly lower on Friday.   Each is a bounce setup for potential entry Monday.

IWM made another new all-time closing high, following the breakout of its 3 ½ month ascending triangle on Wednesday.  Intermediate term price target is the 176 area.

The DJIA, closed up 1 point at 24,715, led by strength in BA, CAT and HD, offset by weakness in GS, PM and CVX.

Five sectors were higher on Friday, led by industrial XLI +1.51% and healthcare XLV +0.39%.

SPY down .68 at 271.33 on 64.3 million shares, 17% below average volume. Down on higher volume.

VIX down .01 at 13.42

Oil down .11 to 71.48

TLT up 1.00 at 117.21 on 9.6 million shares.

BA +2.06%, CAT +1.31%, led the DJIA, 9 advancers.

NKTR +7.66%, DE +8.44% and IQV +3.88%, led the SPX.

IDXX +2.64%, PYPL +2.02%, MNST +1.85%, and ALGN +1.80%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up: IWM,

Down: SPY, DIA, SPY, QQQ

Breadth weakened on Friday, as advancers led 1,461 to 1,405 on the NYSE and led 1,437 to 1,427 on the NASDAQ.

The SPY MFC green line is in the upper zone and is at 87, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

44 of 100 NDX stocks closed higher on Friday.

66 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

CMCSA, CTRP, IDXX, VRSK,

Moving Below 30 DMA = 6

AMAT, ASML, AVGO, LRCX, STX, WYNN

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

Add Comments here

IWM New All-time Closing High...Energy Sector Leads with MPC, ANDV, VLO, EOG and CXO...

© 2018

An early rally that sent the broad markets higher, ran out of buying momentum around 11 am EDT.  Prices sold off until 2 pm followed by a late rally.   SPY, DIA and QQQ closed slightly lower on Thursday.   Each is a bounce setup for potential entry tomorrow which is monthly expiration Friday.

IWM made a new all-time closing high, following the breakout of its 3 ½ month ascending triangle on Wednesday.  Intermediate term price target is the 176 area.

The DJIA, closed down 54 points at 24,713, led by weakness in GS, CSCO, WMT, MCD and JNJ.

Five sectors were higher on Thursday, led by energy XLE +1.51% and industrial XLI +0.39%.

SPY down .23 at 272.01 on 56.5 million shares, 30% below average volume. Down on higher volume.

VIX up .01 at 13.43

Oil up .05 to 71.59

TLT down .59 at 116.21 on 7.3 million shares.

KO +1.81%, BA +0.93%, led the DJIA, 13 advancers.

MPC +5.19%, ANDV +4.34% and VLO +4.10%, led the SPX.

ESRX +3.55%, MYL +2.30%, ULTA +2.21%, and ATVI +1.89%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up: IWM,

Down: SPY, DIA, QQQ

Breadth weakened on Thursday, as advancers led 1,566 to 1,328 on the NYSE and led 1,726 to 1,123 on the NASDAQ.

The SPY MFC green line is in the upper zone and is at 90, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

44 of 100 NDX stocks closed higher on Thursday.

68 NDX stocks are above their 30 DMA. 

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 5

CSCO, HSIC, IDXX, KHC, NTES,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

Add Comments here

IWM New All-time Closing High as AAPL, AMZN, INTC, MU and WDC Lead NDX...

© 2018

QQQ and SPY closed above Tuesday’s hammer and gave a bounce entry signal on Wednesday.  DIA closed near Tuesday’s high and is a bounce setup for potential entry on Thursday.

IWM made a new all-time closing high as it closed above the horizontal resistance of its 3 ½ month ascending triangle, for a horizontal breakout entry signal.

The DJIA, closed up 62 points at 24,768, led by strength in UNH, DIS, NKE, AAPL and WMT.

Eight sectors were higher on Wednesday, led by materials XLB +1.19% and discretionary XLY +0.83%.

SPY up 1.14 at 272.24 on 53.9 million shares, 34% below average volume. Up on lower volume.

VIX down 1.21 at 13.42

Oil up .54 to 71.54

TLT down .45 at 116.80 on 6.5 million shares.

NKE +2.65%, GE +2.18%, led the DJIA, 18 advancers.

M +10.83%, UAA +8.69% and AIZ +4.72%, led the SPX.

MELI +4.95%, WDC +4.87%, MU +4.61%, and BIDU +4.47%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is sideways.

Up: IWM, QQQ, SPY, DIA

Down:

Breadth strengthened on Wednesday, as advancers led 1,895 to 993 on the NYSE and led 1,900 to 988 on the NASDAQ.

The SPY MFC green line is pointed up and is at 92, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

74 of 100 NDX stocks closed higher on Wednesday.

73 NDX stocks are above their 30 DMA. 

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

HOLX, MYL, STX, VRTX, WDC,

Moving Below 30 DMA = 0

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

Add Comments here