SPX Regains Most of Tuesday's Pullback in Bull Flag Bounce...

© 2020

The SPX +62.75, +2.29% gapped higher Wednesday morning as oil prices firmed up and the Senate passed a $484 billion coronavirus aid bill that is expected to pass the House as soon as Thursday.  After the open the SPX continued its uptrend while regaining 72% of Tuesday’s pullback. 

After the close LVS +2.96, +7.21%, ORLY +11.84, +3.22% CSX +0.95, +1.56% rose on positive EPS reactions.

All eleven sectors were higher on Wednesday, led by XLK, XLE and XLU

SPY up 6.06 at 279.10 on 93.1 million shares, below average volume, up on lower volume.

VIX down 3.43 at 41.98

INTC, MCD, NKE led the DJIA, 28 advancers, +28

CMG, TWTR, HAL, APA led the SPX, 407 advancers

LRCX, NXPI, AMAT, EXPE led the NDX, 92 advancers

The two-year trend term is up.

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

Up: QQQ, SPY, DIA, IWM,

Down:

Breadth strengthened on Wednesday as advancers led 2,085 to 881 on the NYSE and led 2,178 to 1,074 on the NASDAQ

The SPX MFC green line is pointed up at 76.6 and is a short-term bullish.

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

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

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

92 of 100 NDX stocks closed higher on Wednesday.

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

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 8

BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, WDC,

Moving Below 30 DMA = 1

BIIB,

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SPX in Bull Flag Pullback, All Sectors Down, Breadth Weakens, CMG, TXN Rise After-hours...

© 2020

The SPX -86.60, -3.07% gapped lower Tuesday morning as oil prices continued falling Monday evening.  After the open the SPX continued lower until midday and traded in a trading range in the afternoon. 

After the close TXN +3.16, +2.96%, CMG +45.31, +2.73% NFLX +0.57, +0.13% rose on positive EPS reactions.

All eleven sectors were lower on Tuesday for the second day in a row, led by XLRE, XLU and XLE

SPY down 8.55 at 273.04 on 125.9 million shares, below average volume, down on higher volume.

VIX up 1.58 at 45.41

TRV, WMT, XOM led the DJIA, 0 advancers, -2

SWN, HP, FLIR, EFX led the SPX, 31 advancers

UAL, TTWO, MAR, EBAY led the NDX, 3 advancers

The two-year trend term is up.

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

Up:

Down: IWM, DIA, SPY, QQQ,

Breadth weakened on Tuesday as decliners led 2,366 to 589 on the NYSE and led 2,468 to 795 on the NASDAQ

The SPX MFC green line is pointed up at 71.7 and is a short-term bullish while price action is a bull flag counter-trend pullback.

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

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

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

3 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MAR, 

Moving Below 30 DMA = 10

BKNG, CMCSA, CSGP, EXC, EXPE, FISV, MU, NTAP, NXPI, SIRI,

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Monday Opens Lower after Oil Falls Sunday Evening...IBM Down After-hours...

© 2020

The SPX -51.40, -1.79% gapped lower Monday morning after oil prices collapsed Sunday evening.  After the open the SPX rallied from its low before selling off in the afternoon to the low of the day.  

After the close IBM -3.71, -3.08% beat EPS and fell just short of revenue estimates but pulled its 2020 guidance due to Covid-19.

SPY down 5.05 at 281.59 on 100.1 million shares, below average volume, down on lower volume.

VIX up 5.68 at 43.83

IBM, CSCO, JNJ led the DJIA, 2 advancers, -24

FLIR, SWN, CARR, DD led the SPX, 77 advancers

BMRN, SGEN, NFLX, ALXN led the NDX, 29 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up:

Down: IWM, QQQ, SPY, DIA

Breadth weakened on Monday as decliners led 2,297 to 670 on the NYSE and led 2,049 to 1,234 on the NASDAQ

The SPX MFC green line is pointed up at 69.8 and is a short-term bullish. 

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

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

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

29 of 100 NDX stocks closed higher on Monday.

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

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 4

CPRT, CTAS, MAR, WDC,

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Gap Up after GILD News, Trading Range, Late Rally as First Week of Earnings Season Ends...

© 2020

The SPX rose 83 points in week 1 of earnings season.   JPM, WFC, BAC, C, PGR, PNC, SCHW and USB had negative earnings reaction.  JNJ, FAST, GS and UNH had positive earnings reaction.

News of positive results of a drug trial of GILD’s remdesivir on Covid-19 patients sent futures higher overnight.  The SPX +75.01, +2.68% gapped higher Friday morning and pulled back to a trading range followed by a late rally closing at its highest close since March 10.

_________________________________________________________________________________

COVOD-19 a reality-based article worth reading:   Click here:

Take time to read these articles for a more constructive perspective on coronavirus…

Ron Insana on getting inspiration from the Greatest American Generation:  Click Here:  

Fed’s Bullard: Face the Nation: April 5 - I would push back against the idea of the economy being in a freefall:    Click here
Fed’s Bullard: Not a recession, an investment in survival:  Click here

Understand how outbreaks spread:Click here

About the 2 drugs that could treat COVID-19:   Click here:
_________________________________________________________________________________

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

SPY up 7.54 at 286.64 on 146.6 million shares, below average volume, up on higher volume.

VIX down 1.96 at 38.15

BA, XOM, JPM led the DJIA, 26 advancers, +12

HFC, MPC, CF, CMA led the SPX, 469 advancers

GILD, EXPE LULU, CTAS led the NDX, 83 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up: IWM, DIA, SPY, QQQ,

Down:

Breadth strengthened on Friday as advancers led 2,534 to 441 on the NYSE and led 2,639 to 661 on the NASDAQ

The SPX MFC green line is pointed up at 66.1 and is a short-term bullish. 

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

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

83 of 100 NDX stocks closed higher on Friday.

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

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 6

CPRT, CTAS, EXPE, MAR, PAYX, WDC,

Moving Below 30 DMA = 0

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SPX Trading Range Forms Dragonfly Doji...NDX Leads...GILD Up After-hours on Progress on Covid-19 Treatment...

© 2020

Six of eleven sectors were higher on Thursday, led by XLV, XLK and XLY

SPY up 1.34 at 279.10 on 131.7 million shares, below average volume, up on higher volume.

VIX down .73 at 40.11

UNH, INTC, MSFT led the DJIA, 14 advancers, +9

ANTM, CI, HUM, MKTX led the SPX, 238 advancers

SGEN, JD, XLNX, REGN led the NDX, 74 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up:

Down: QQQ, DIA, SPY, IWM,

Breadth strengthened on Thursday as decliners led 1,864 to 1,105 on the NYSE and led 1,816 to 1,455 on the NASDAQ

The SPX MFC green line is pointed up at 63.5 and is a short-term bullish. 

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

Neutral sectors:  XLRE,

Down trend sectors: XLI, XLF, XLE,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

74 of 100 NDX stocks closed higher on Thursday.

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

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

FISV, NTAP, NXPI,

Moving Below 30 DMA = 1

WDC,

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SPX Gives Back Tuesday's Gains on Lower Volume after Negative EPS Reactions on BAC, C, GS, SCHW, USB...

© 2020

BAC, C, PGR, PNC, SCHW and USB had negative EPS reactions today.  UNH had a positive EPS reaction.  GS finished fractionally higher after earnings.

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

SPY down 6.03 at 277.76 on 121.7 million shares, below average volume, down on lower volume.

VIX up 3.08 at 40.84

UNH, BA, JNJ led the DJIA, 5 advancers, -19

FOSL, CNC, MKTX, SWN led the SPX, 39 advancers

MELI, ATVI, NFLX, UAL led the NDX, 19 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is sideways.

Up:

Down: QQQ, DIA, SPY, IWM,

Breadth weakened on Wednesday as decliners led 2,492 to 482 on the NYSE and led 2,530 to 737 on the NASDAQ

The SPX MFC green line is pointed up at 61.8 and is a short-term bullish. 

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

Neutral sectors:  XLRE,

Down trend sectors: XLI, XLF, XLE,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Sideways

19 of 100 NDX stocks closed higher on Wednesday.

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

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 5

FISV, NTAP, NXPI, PAYX, WBA,

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NDX Leads Broad Rally with Gains in TSLA, AAPL, AMZN, GOOGL, MSFT and Semiconductor Stocks...

© 2020

The NDX +359.42, +4.31% closed higher led by big gains in TSLA, AAPL, GOOGL, MSFT and semiconductor stocks AMD, KLAC, QCOM, SWKS, ASML, LRCX, NVDA and AMAT.

JNJ, FAST after beating estimates while JPM, WFC fell after missing.  Earnings continue Wednesday morning before the open with BAC, C, GS, PGR, PNC, SCHW, UNH, USB and OMC.

_________________________________________________________________________________

COVOD-19 a reality-based article worth reading:   Click here:

Take time to read these articles for a more constructive perspective on coronavirus…

Ron Insana on getting inspiration from the Greatest American Generation:  Click Here:  

Fed’s Bullard: Face the Nation: April 5 - I would push back against the idea of the economy being in a freefall:    Click here
Fed’s Bullard: Not a recession, an investment in survival:  Click here

Understand how outbreaks spread:Click here

About the 2 drugs that could treat COVID-19:   Click here:
_________________________________________________________________________________

Ten of eleven sectors were higher on Tuesday, led by XLP, XLK and XLY

SPY up 8.13 at 283.79 on 134.1 million shares, below average volume.  Up on higher volume.

VIX down 3.41 at 37.76

RTX, WBA, AAPL led the DJIA, 24 advancers, +16

RCL, CPRI, CCL, NCLH led the SPX, 427 advancers

TSLA, MNST, AMD, FAST led the NDX, 97 advancers

Two-year trend term is up.  A new 3-week uptrend has emerged following a higher low W pattern reversal.  Tuesday was one-day bull flag bounce and horizontal breakout.  3-day short term trend is up.

Up: QQQ, SPY, DIA, IWM,

Down:

Breadth strengthened on Tuesday as advancers led 2,228 to 745 on the NYSE and led 2,315 to 959 on the NASDAQ

The SPX MFC green line is pointed up at 58.2 and is a short-term bullish. 

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

Neutral sectors:  XLRE,

Down trend sectors: XLI, XLF, XLE,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

97 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 7

BIDU, DLTR, NXPI, PAYX, SIRI, VRSK, WBA,

Moving Below 30 DMA = 0

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