Thursday, May 23, 2019

SPY Gaps Down, Bounces at May 13 Support Area...


© 2019


The DJIA, closed down 286 points at 25,490led by weakness in UTX, IBM, GS, AAPL and UNH.  Closing below 26,000 for the thirteenth day after trading above 26,000 for the previous twenty-five trading days. 

Two of eleven sectors were higher on Thursday, led by utilities XLU +0.86% and real estate XLRE +0.49%.


SPY down 3.49 at 282.14 on 98.7 million shares, 34% above average volume. Down on higher volume.
VIX up 2.17 at 16.92
Oil down 3.13 at 58.19
TLT up 1.42 at 127.67 on 9.7 million shares. 

HD +1.64%, INTC +1.20%, led the DJIA, 6 advancers, -6
LB +12.84%, CPRT +7.95% and MDT +3.24%, led the SPX.
MELI +1.96%, INCY +1.87%, SNPS +1.67% and TSLA +1.43% led the NDX.


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

Up:
Down: DIA, SPY, QQQ, IWM

Breadth weakened on Thursday, as decliners led 2,242 to 634 on the NYSE and led 2,404 to 658 on the NASDAQ

The SPY MFC green line turned down at 32 and is short-term bearish

Uptrend sectorsXLP, XLRE, XLU, XLY, XLK, XLI, XLC,
Neutral sectors:  XLF, XLB, XLE, XLV,
Down trend sectors:

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendDown


10 of 100 NDX stocks closed higher on Thursday.

34 NDX stocks are above their 30 DMA:  MDLZ, PAYX, VRSK, CHKP, CMCSA, PEP, SBUX, NTES, ALGN, ILMN, CELG, CERN, HSIC, CTAS, WYNN, CHTR, TMUS, HAS, INTU, IDXX, MNST, XRAY, TTWO, INCY, MELI, MSFT, PYPL, VRSN, WDAY, BMRN, CELG, COST, ADP, CSCO, GILD, FISV, BIIB, LULU, ULTA, ADBE, ADSK, INCY, SBUX, WLTW,

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
VRTX,

Moving Below 30 DMA = 11
ADBE, ADP, ADSK, ALGN, BIIB, CSCO, LULU, PYPL, SBUX, ULTA, WLTW,


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Wednesday, May 22, 2019

Gap Down, Range Day...FOMC Minutes...


© 2019


The DJIA, closed down 100 points at 25,776led by weakness in BA, AAPL, GS, HD and CAT.  Closing below 26,000 for the twelfth day after trading above 26,000 for the previous twenty-five trading days. 

Four of eleven sectors were higher on Wednesday, led by utilities XLU +0.75% and healthcare XLV +0.57%.

SPY down .88 at 285.63 on 49.4 million shares, 31% below average volume. Down on higher volume.
VIX down .20 at 14.75
Oil down 1.65 at 61.32
TLT up .72 at 126.25 on 5.6 million shares. 

KO +2.16%, MRK +1.86%, led the DJIA, 12 advancers, -13
TGT +7.78%, AAP +3.09% and TWTR +2.96%, led the SPX.
REGN +3.27%, HAS +2.12%, ILMN +2.08% and VRTX +1.92% led the NDX.

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

Up:
Down: SPY, QQQ, DIA, IWM

Breadth weakened on Wednesday, as decliners led 1,804 to 1,074 on the NYSE and led 1,991 to 1,035 on the NASDAQ

The SPY MFC green line is pointed up at 40 and is short-term bullish

Uptrend sectorsXLP, XLRE, XLU, XLY, XLK, XLI, XLC,
Neutral sectors:  XLF, XLB, XLE, XLV,
Down trend sectors:

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendSideways


39 of 100 NDX stocks closed higher on Wednesday.

44 NDX stocks are above their 30 DMA:  MDLZ, PAYX, VRSK, CHKP, CMCSA, PEP, SBUX, NTES, ALGN, ILMN, CELG, CERN, HSIC, CTAS, WYNN, CHTR, TMUS, HAS, INTU, IDXX, MNST, XRAY, TTWO, INCY, MELI, MSFT, PYPL, VRSN, WDAY, BMRN, CELG, COST, ADP, CSCO, GILD, FISV, BIIB, LULU, ULTA, ADBE, ADSK, INCY, SBUX, WLTW,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0

Moving Below 30 DMA = 5
CSX, EA, FOXA, PCAR, ROST,


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Tuesday, May 21, 2019

Bounce Up from Support in SPY, DIA, QQQ, IWM...HD Rallies after EPS...


© 2019


The DJIA, closed up 197 points at 25,877led by strength in BA, UNH, AAPL, UTX and CAT.  Closing below 26,000 for the eleventh day after trading above 26,000 for the previous twenty-five trading days. 

Ten of eleven sectors were higher on Tuesday, led by materials XLB +1.54% and technology XLK +1.23%.

SPY up 2.56 at 286.51 on 46.8 million shares, 35% below average volume. Up on lower volume.
VIX down 1.36 at 14.95
Oil down .33 at 62.97
TLT down .20 at 125.53 on 4.0 million shares. 

DWDP +3.09%, INTC +2.07%, led the DJIA, 25 advancers, +14
AZO +5.57%, DISH +5.29% and ANTM +4.04%, led the SPX.
CTRP +5.13%, XLNX +4.63%, NXPI +4.41% and WDC +3.58% led the NDX.

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

Up: IWM, QQQ, SPY, DIA,
Down:

Breadth strengthened on Tuesday, as advancers led 2,299 to 578 on the NYSE and led 2,112 to 944 on the NASDAQ

The SPY MFC green line is pointed up at 39 and is short-term bullish

Uptrend sectorsXLP, XLRE, XLU, XLY, XLK, XLI, XLC,
Neutral sectors:  XLF, XLB, XLE, XLV,
Down trend sectors:

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendDown


89 of 100 NDX stocks closed higher on Tuesday.

49 NDX stocks are above their 30 DMA:  MDLZ, PAYX, VRSK, CHKP, CMCSA, PEP, SBUX, NTES, ALGN, ILMN, CELG, CERN, HSIC, CTAS, WYNN, CHTR, TMUS, HAS, INTU, IDXX, MNST, XRAY, TTWO, INCY, MELI, MSFT, PYPL, VRSN, WDAY, BMRN, CELG, COST, ADP, CSCO, CSX, GILD, FISV, BIIB, LULU, ULTA, ADBE, ADSK, EA, FOXA, INCY, PCAR, ROST, SBUX, WLTW,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 9
ADBE, ADSK, EA, FOXA, INCY, PCAR, ROST, SBUX, WLTW,

Moving Below 30 DMA = 0



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