Rally Day 7 Breakout Test and Rally After FOMC Leaves Rates Unchanged...

© 2019

The DJIA, closed up 38 points at 26,504, led by strength in UNH, DIS, V, TRV and AXP.  Closing above 26,000 above for the eighth straight day. 

Seven of eleven sectors were higher on Wednesday, led by healthcare XLV +0.90% and utilities XLU +0.76%. 

SPY up .66 at 293.06 on 78.6 million shares, 4% above average volume. Up on lower volume.

VIX down .82 at 14.33

Oil up .08 at 54.38

TLT up .19 at 132.54 on 11.9 million shares. 

DIS +1.21%, MRK +1.03%, led the DJIA, 20 advancers, -3

AGN +6.23%, IQV +5.89% and LW +3.99%, led the SPX.

ADBE +5.21%, CDNS +3.22%, ULTA +3.06% and MELI +2.99% led the NDX.

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

Up: QQQ, IWM, SPY, DIA,

Down:

Breadth weakened on Wednesday, as advancers led 1,708 to 1,137 on the NYSE and led 1,778 to 1,253 on the NASDAQ

The SPY MFC green line crossed into the upper zone at 83 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

77 of 100 NDX stocks closed higher on Wednesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

ALXN, CTRP, KHC, REGN,

Moving Below 30 DMA = 1

FOXA, 

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Day 6 Bull Flag Gaps Up, Breaks Out as FOMC & Trade Sentiment Improves...

© 2019

The DJIA, closed up 353 points at 26,465, led by strength in BA, MMM, AAPL, GS and CAT.  Closing above 26,000 above for the seventh straight day.  

Eight of eleven sectors were higher on Tuesday, led by industrials XLI +1.94% and technology XLK +1.81%. 

SPY up 3.03 at 292.04 on 85.4 million shares, 10% above average volume. Up on higher volume.

VIX down .20 at 15.15

Oil up 2.38 at 54.30

TLT up .66 at 132.35 on 10.3 million shares. 

BA +5.37%, MMM +3.05%, led the DJIA, 23 advancers, +9

QRVO +5.56%, WYNN +5.46% and NVDA +5.41%, led the SPX.

XLNX +6.94%, CTRP +6.29%, MU +5.74% and NXPI +5.66% led the NDX.

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

Up: QQQ, DIA, IWM, SPY,

Down:

Breadth strengthened on Tuesday, as advancers led 2,102 to 798 on the NYSE and led 2,167 to 914 on the NASDAQ

The SPY MFC green line is turned up at 78 and is short-term bullish. 

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

Neutral sectors:  XLF, XLV, 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

81 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 17

AMAT, ASML, AVGO, CSX, FAST, FOXA, JD, KLAC, MCHP, NFLX, NVDA, NXPI, SWKS, TMUS, TXN, WYNN, XLNX,

Moving Below 30 DMA = 1

REGN,

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Bull Flag Day 5 Spinning Top...FOMC Meets Tuesday/Wednesday...

© 2019

SPY up .11 at 289.37 on 39.2 million shares, 49% below average volume. Up on lower volume.

VIX up .07 at 15.35

Oil down .59 at 51.92

TLT up .23 at 131.69 on 6.0 million shares. 

BA +2.23%, CSCO +1.19%, led the DJIA, 14 advancers, -3

MOS +4.11%, DISH +3.86% and NWSA +3.47%, led the SPX.

INCY +5.31%, TSLA +4.70%, FB +4.24% and BMRN +4.12% led the NDX.

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

Up: IWM, QQQ, DIA, SPY,

Down:

Breadth strengthened on Monday, as advancers led 1,566 to 1,298 on the NYSE and led 1,638 to 1,413 on the NASDAQ

The SPY MFC green line is turned up at 74 and is short-term bullish. 

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

Neutral sectors:  XLF, XLV, 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

54 of 100 NDX stocks closed higher on Monday.

67 NDX stocks are above their 30 DMA:  PAYX, PEP, CERN, CTAS, CHTR, IDXX, XRAY, TTWO, MELI, ORLY, AMD, MDLZ, WLTW, AMGN, CELG, COST, HAS, HSIC, ILMN, SBUX, VRSK, VRSN, ADP, CSCO, EXPE, FISV, INTU, PCAR, PYPL, SNPS, AMAT, LBTYA, MSFT, MXIM, ROST, WDAY, BKNG, CTSH, EBAY, GILD, ISRG, MAR, AAPL, ADI, AMZN, CDNS, DLTR, INTC, NTES, WBA, ULTA, CTXS, UAL, AAL, ATVI, LULU, SIRI, CMCSA, FB, TSLA, VRTX, ADBE, BIIB, BMRN, INCY, REGN, SYMC,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 6

ADBE, BIIB, BMRN, INCY, REGN, SYMC,

Moving Below 30 DMA = 1

KLAC, 

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Doji Trading Range on Day 4 of Bull Flag...a Pause in the Bull Flag Bounce...

© 2019

SPY, QQQ, DIA, IWM form weekly spinning top following last week’s bullish engulfing pattern, in Week 25 of six month intermediate term trend while forming a new bull flag pattern on the daily chart…

                 (click image to enlarge)

• Lightest weekly SPY trading volume of the last seven weeks. 
• FOMC meeting next Tuesday/Wednesday, June 18 & 19…

The DJIA, closed down 17 points at 26,089, led by weakness in MMM, DOW, BA, CSCO and AAPL.  Closing above 26,000 above for the fifth straight day. 

Six of eleven sectors were higher on Friday, led by utilities XLU +1.05% and real estate XLRE +0.43%. 

SPY down .32 at 289.26 on 52.3 million shares, 33% below average volume. Down on slightly higher volume.

VIX down .09 at 15.82

Oil up 1.12 at 52.20

TLT up .45 at 131.13 on 5.5 million shares. 

HD +1.69%, VZ +1.15%, led the DJIA, 17 advancers, -2

VTR +2.03%, UAA +1.77% and WY +1.70%, led the SPX.

FB +2.18%, INCY +1.75%, DLTR +1.52% and CMCSA +1.49% led the NDX.

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

Up:

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Friday, as decliners led 1,707 to 1,143 on the NYSE and led 1,964 to 1,109 on the NASDAQ

The SPY MFC green line is turned up at 73 and is short-term bullish. 

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

Neutral sectors:  XLF, XLV, 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

36 of 100 NDX stocks closed higher on Friday.

62 NDX stocks are above their 30 DMA:  PAYX, PEP, CERN, CTAS, CHTR, IDXX, XRAY, TTWO, MELI, ORLY, AMD, MDLZ, WLTW, AMGN, CELG, COST, HAS, HSIC, ILMN, SBUX, VRSK, VRSN, ADP, CSCO, EXPE, FISV, INTU, PCAR, PYPL, SNPS, AMAT, LBTYA, MSFT, MXIM, ROST, WDAY, BKNG, CTSH, EBAY, GILD, ISRG, MAR, AAPL, ADI, AMZN, CDNS, DLTR, INTC, NTES, WBA, ULTA, CTXS, UAL, AAL, ATVI, KLAC, LULU, SIRI, CMCSA, FB, TSLA, VRTX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

CMCSA, FB, TSLA, VRTX,

Moving Below 30 DMA = 6

ADBE, ASML, BIIB, CSX, FAST, TXN,

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Rally Day 8, Bull Flag Bounce...

© 2019

The DJIA, closed up 101 points at 26,106, led by strength in DIS, HD, BA, PG and GS.  Closing above 26,000 above for the fourth straight day. 

Ten of eleven sectors were higher on Thursday, led by energy XLE +1.17% and communication services XLC +1.12%. 

SPY up 1.19 at 289.58 on 48.9 million shares, 38% below average volume. Up on higher volume.

VIX down .09 at 15.82

Oil up 1.12 at 52.20

TLT up .45 at 131.13 on 5.5 million shares. 

DIS +4.44%, HD +1.71%, led the DJIA, 19 advancers, +4

XEC +4.21%, TPR +3.85% and WHR +3.77%, led the SPX.

AAL +6.40%, UAL +3.96%, WDC +3.04% and ROST +2.27% led the NDX.

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

Up: IWM, QQQ, DIA, SPY

Down:

Breadth strengthened on Thursday, as advancers led 2,098 to 795 on the NYSE and led 2,052 to 1,018 on the NASDAQ

The SPY MFC green line is turned up at 71 and is short-term bullish. 

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

Neutral sectors:  XLF, XLV, 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

72 of 100 NDX stocks closed higher on Thursday.

64 NDX stocks are above their 30 DMA:  PAYX, PEP, CERN, CTAS, CHTR, IDXX, XRAY, TTWO, MELI, ORLY, AMD, MDLZ, WLTW, AMGN, CELG, COST, HAS, HSIC, ILMN, SBUX, VRSK, VRSN, ADP, CSCO, CSX, EXPE, FISV, INTU, PCAR, PYPL, SNPS, AMAT, LBTYA, MSFT, MXIM, ROST, WDAY, BKNG, CTSH, EBAY, GILD, ISRG, MAR, TXN, AAPL, ADI, AMZN, ASML, BIIB, CDNS, DLTR, INTC, NTES, WBA, ULTA, ADBE, CTXS, UAL, AAL, ATVI, FAST, KLAC, LULU, SIRI,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6

AAL, ATVI, FAST, KLAC, LULU, SIRI,

Moving Below 30 DMA = 3

MNST, TMUS, VRTX,

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