SPX, NDX, RUT Bounce Back as TSLA Hits All-time High...

 
© 2020
 
BA +2.37, +1.17%, opened lower and reversed up on the second day after the FAA cleared the 737 Max to fly again after being grounded for 20 months.
 
TSLA +12.63, +2.60%, gapped up and made an all-time new high.   It was announced on Monday that TSLA will be added to the S&P500 before the open on Dec 21.
 
NDX +90.72, +0.76%, bounced after a two-day pullback in a channel bounce from a higher low. 
 
SPX +14.08, +0.78%, closes at 3,581, is a breakout test that moved below recent resistance and formed a three-day bull flag price pattern.
 
Nine of eleven sectors were higher on Thursday, led by XLE, XLK and XLC. 
 
Energy leaders: DVN, KMI, FANG, HAL
Technology leaders: ZBRA, FISV, AMD, PAYC
Communication Services leaders: EA, TTWO, VIAC, DISCA
 
SPY up 1.50 at 357.78 on 59.9 million shares, below average volume, up on lower volume.
VIX down 0.73 at 23.11
 
CRM, WMT, CVX, INTC led the DJIA, 18 advancers, +15
LB, DVN, ZBRA, ETSY led the SPX, 303 advancers
FISV, MRNA, NTES, PDD led the NDX, 74 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, IWM, SPY, DIA,
Down:
 
Advancers strengthened on Thursday as advancers led 1,945 to 1,114 on the NYSE and led 2,326 to 1,233 on the NASDAQ
 
The SPY MFC green line turned up at 87 and is bullish.  Price action is a bull flag and horizontal re-breakout setup.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK,
Neutral sectors:  XLRE, 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: Down a little
 
74 of 100 NDX stocks closed higher on Thursday.
 
65 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, CDW, KLAC, LRCX, TXN, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ASML, BKNG, CTAS, FISV, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, PEP, AVGO, COST, JD, MELI, LBTYA, ADSK, KHC, WDAY, AMD, FOXA, LULU, TSLA, PCAR, DLTR, DOCU, NTES, TTWO,
 
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
DLTR, DOCU, NTES, TTWO,
 
Moving Below 30 DMA = 3
ALXN, CPRT, GILD,
 
 
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SPX, DJI, RUT Pause on Wednesday after New High Close...TSLA Continues to Race Higher...BA Gets FAA Clearance...

© 2020
 
BA -6.75, -3.21%, gapped open more than $12 only to reverse and close lower after the FAA cleared the 737 Max to fly again after being grounded for 20 months.
 
TSLA +45.03, +10.20%, gapped open and rose on Wednesday for the second following the announcement on Monday that TSLA will be added to the S&P500 before the open on Dec 21.
 
NDX -82.78, -0.69%, paused after a 5-day rally moving below the low of the high day in a counter trend pullback. 
 
SPX -41.71, -1.16%, closes at 3,567, is a breakout test moving below recent resistance and a two-day bull flag price pattern.
 
All eleven sectors were lower on Wednesday, led by XLI, XLY and XLB. 
 
Industrials leaders: FLS, JCI, WAB, ROK
Consumer Discretionary leaders: TGT, CMG, TJX, MGM
Materials leaders: DOW, LYB, MOS, CE
 
SPY down 4.34 at 356.28 on 70.5 million shares, below average volume, down on higher volume.
VIX up 1.12 at 23.84
 
DOW, CAT, CRM led the DJIA, 3 advancers, -3
GCI, FLS, FLIR, JCI led the SPX, 101 advancers
TSLA, ZM, AMAT, MELI led the NDX, 18 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, DIA, SPY, IWM,
 
Advancers weakened on Wednesday as decliners led 1,879 to 1,181 on the NYSE and led 2,212 to 1,376 on the NASDAQ
 
The SPY MFC green line is flat at 85 and is bullish.  Price action is a horizontal breakout test.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK,
Neutral sectors:  XLRE, 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
 
18 of 100 NDX stocks closed higher on Wednesday.
 
64 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, CDW, CPRT, KLAC, LRCX, TXN, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ALXN, ASML, BKNG, CTAS, FISV, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, PEP, AVGO, COST, JD, MELI, LBTYA, ADSK, KHC, WDAY, AMD, FOXA, GILD, LULU, TSLA, PCAR,
 
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
PCAR,  
 
Moving Below 30 DMA = 5
AMGN, CERN, FB, MSFT, XEL,  
 
 
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RUT, IWM New High Close as SPX, NDX Pause after New High on Monday...

 © 2020
 
RUT and the ETF IWM made all-time closing highs on Tuesday.
 
TSLA +33.52, +8.21%, gapped open and partially filled the gap Tuesday following the Monday announcement that TSLA will be added to the S&P500 before the open on Dec 21.
 
NDX -35.89, -0.30%, opened higher but pulled back slight forming a bounce pause. 
 
SPX -17.38, -0.48%, closes at 3,609, was a breakout test after breaking out to a new all-time closing high on Monday.
 
Two of eleven sectors were higher on Tuesday, led by XLE, XLRE and XLF. 
 
Energy leaders: SWN, DVN, FANG, OKE
Real Estate leaders: SLG, VNO, HST, BXP
Financials leaders: SCHW, RJF, IVZ, MSCI
 
SPY down 1.95 at 360.62 on 66.1 million shares, below average volume, down on lower volume.
VIX up .26 at 22.71
 
BA, CRM, MRK, NKE led the DJIA, 6 advancers, -20
GCI, SLG, RL, VNT led the SPX, 174 advancers
TSLA, FOXA, SPLK, MNST led the NDX, 33 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM,
Down: QQQ, SPY, DIA
 
Advancers weakened on Tuesday as advancers led 1,726 to 1,716 on the NYSE and led 1,836 to 1,716 on the NASDAQ
 
The SPY MFC green line is turned up at 85.2 and is bullish.  Price action is a bull flag bounce continuation and a horizontal breakout setup.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK,
Neutral sectors:  XLRE, 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
 
33 of 100 NDX stocks closed higher on Tuesday.
 
68 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, CDW, CERN, CPRT, KLAC, LRCX, TXN, XEL, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ALXN, ASML, BKNG, CTAS, FB, FISV, INCY, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, AMGN, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, PEP, AVGO, COST, JD, MELI, MSFT, LBTYA, ADSK, KHC, WDAY, AMD, FOXA, GILD, LULU, TSLA,   
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
LULU, TSLA,  
 
Moving Below 30 DMA = 5
BMRN, CDNS, DLTR, ORLY, PCAR,
 
 
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SPX, DJI, RUT New All-time Closing Highs...TSLA in the SPX on Dec 21...

 
© 2020
 

SPX, DJI, RUT and the ETF’s SPY, DIA, IWM made all-time closing highs on Monday.
 
TSLA +53.83, +13.19%, gains in after-hours trading following the announcement that TSLA will be added to the S&P500 on Dec 21.
 
NDX +75.54, +0.63%, opened flat and closed higher on a channel bounce continuation. 
 
SPX +41.76, +1.16%, closes at 3,626, made a bull flag bounce continuation and was a new all-time closing high on Monday.
 
Ten of eleven sectors were higher on Monday, led by XLE, XLI and XLF. 
 
Energy leaders: FTI SLB NOV VLO
Industrials leaders: BA, NLSN, CARR, ALK
Financials leaders: MTB, KEY, ZION, PBCT
 
SPY up 4.47 at 362.57 on 74.5 million shares, average volume, up on higher volume.
VIX down .65 at 22.45
 
BA, CVX, DIS, DOW led the DJIA, 26 advancers, -4
FTI, SLB, CCL NOV led the SPX, 419 advancers
MRNA, MU, WDC, ULTA led the NDX, 71 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Advancers remained strong on Monday as advancers led 2,562 to 534 on the NYSE and led 2,581 to 1,006 on the NASDAQ
 
The SPY MFC green line is turned up at 82.1 and is bullish.  Price action is a bull flag bounce continuation and a horizontal breakout setup.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLC, XLP, XLV, XLK,
Neutral sectors:  XLF, XLRE,
Down trend sectors: XLE,
 
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
 
71 of 100 NDX stocks closed higher on Monday.
 
71 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, CDW, CERN, CPRT, KLAC, LRCX, TXN, XEL, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ALXN, ASML, BKNG, CTAS, FB, FISV, INCY, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, AMGN, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, ORLY, PEP, AVGO, CDNS, COST, JD, MELI, MSFT, BMRN, LBTYA, ADSK, DLTR, KHC, PCAR, WDAY, AMD, FOXA, GILD,
 
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
AMD, FOXA, GILD,
 
Moving Below 30 DMA = 1
SNPS,
 
 
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SPX, SPY, IWM Make New All-time Closing High on Friday...

 © 2020
 
After a bull flag bounce on Wednesday, a pull back on Thursday SPY and many other gave another bull flag bounce on Friday.  SPY and IWM both made a new all-time closing high.
 
NDX +110.70, +0.94%, opened and closed higher and made a channel bounce continuation. 
 
SPX +48.14, +1.36%, closes at 3,585, made a bull flag bounce above the high of the low day (Tuesday) for the second time and was a new all-time closing high on Friday.
 
All eleven sectors were higher on Friday, led by XLE, XLRE and XLI. 
 
Energy leaders: MPC, VLO, PSX, HFC
Real Estate leaders: HST, SPG, VNO, BXP
Industrials leaders: NLSN, DAL, BA, UAL
 
SPY up 4.89 at 358.10 on 62.9 million shares, below average volume, up on lower volume.
VIX down 2.25 at 23.10
 
CSCO, BA, WBA, AXP led the DJIA, 30 advancers, +26
MGM, HST, MPC, SPG led the SPX, 470 advancers
PDD, JD, ULTA, WDC led the NDX, 89 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Advancers strengthened on Friday as advancers led 2,558 to 512 on the NYSE and led 2,633 to 908 on the NASDAQ
 
The SPY MFC green line is pointed down at 78.3 and is defensive.  Price action is a bull flag bounce.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLC, XLP, XLV, XLK,
Neutral sectors:  XLF, XLRE,
Down trend sectors: XLE,
 
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
 
89 of 100 NDX stocks closed higher on Friday.
 
69 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, CDW, CERN, CPRT, KLAC, LRCX, TXN, XEL, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ALXN, ASML, BKNG, CTAS, FB, FISV, INCY, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, AMGN, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, ORLY, PEP, AVGO, CDNS, COST, JD, MELI, MSFT, BMRN, LBTYA, ADSK, DLTR, KHC, PCAR, SNPS, WDAY,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 6
ADSK, DLTR, KHC, PCAR, SNPS, WDAY,
 
Moving Below 30 DMA = 1
AMD,
 
 
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NDX, SPX Bounce Pause on Thursday...

 © 2020

After a bull flag bounce on Wednesday, price action pulled back on Thursday but stayed above the low day on Tuesday and there is a bull flag setup on SPY and many other charts.
 
NDX -65.79, -0.55%, opened and closed lower staying above the high of the low day on Tuesday’s.  NDX is a channel bounce continuation setup.  The NDX pause was led by modest pullback in AAPL, AMZN, MSFT, FB and GOOGL.
 
SPX -35.65, -1.00%, closes at 3,537, pulled back from its bull flag bounce on Wednesday closing below Tuesday’s high and is a bull flag setup.
 
All eleven sectors were lower on Thursday, led by XLP, XLV and XLC. 
 
Consumer Staples leaders: CLX, GIS, COST, EL
Healthcare leaders: BIO, MTD, ANTM, CTLT
Communication Services leaders: TMUS, CMCSA, ATVI, CHTR
 
SPY down 3.46 at 353.21 on 68.1 million shares, below average volume, down on higher volume.
VIX up 1.90 at 25.35
 
UNH, JNJ, WMT, PG led the DJIA, 4 advancers, -7
BIO, CLX, PGR, EFX led the SPX, 61 advancers
PDD, MRNA, JD, ZM led the NDX, 21 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, SPY, DIA, IWM,
 
Advancers weakened on Thursday as decliners led 2,336 to 737 on the NYSE and led 2,421 to 1,116 on the NASDAQ
 
The SPY MFC green line turned down at 78.9 and is defensive.  Price action is a bull flag bounce pullback.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLC, XLP, XLV, XLK,
Neutral sectors:  XLF, XLRE,
Down trend sectors: XLE,
 
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
 
21 of 100 NDX stocks closed higher on Thursday.
 
64 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, CDW, CERN, CPRT, KLAC, LRCX, TXN, XEL, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ALXN, ASML, BKNG, CTAS, FB, FISV, INCY, INTU, MNST, TCOM, TMUS, AAPL, ISRG, MRNA, WDC, AMGN, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, ORLY, PEP, AVGO, CDNS, COST, JD, MELI, MSFT, AMD, BMRN, LBTYA,

 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
AMD, BMRN, LBTYA,
 
Moving Below 30 DMA = 9
ADSK, ANSS, DLTR, FOXA, KHC, LULU, NTES, PCAR, SNPS,
 
 
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