SPX, DJIA Make All-time Closing Highs...Staples, Tech Lead, MU Down After-hours...

© 2018

SPY and DIA closed at a new all-time high. 

AXP, JPM, NKE, V and MA hit new highs on Thursday. 

Ten sectors were higher, led by staples XLP +1.26% and technology XLK +1.18%.

The DJIA, closed up 251 points at 26,656, a new all-time closing high, led by strength in CAT, BA, MMM, IBM and MSFT.  This is the forty-ninth consecutive close above 25,000 since June 15 and the sixth close above 26,000 since Feb 1.

SPY up 2.36 at 293.58, on 100.3 million shares, 64% above average volume. Up on higher volume.

VIX up .05 at 11.80 

Oil down.85 at 70.17

TLT up .54 at 117.15 on 8.6 million shares. 

INTC +2.28%, WBA +2.26%, led the DJIA, 28 advancers, +8.

UAA +6.61%, GCI +4.93% and BHF +4.40%, led the SPX.

NTES +4.15%, ADSK +3.25%, SWKS +3.09%, and WDC +2.84%, led the NDX.

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

Up: QQQ, DIA, IWM, SPY,

Down:

Breadth strengthened on Thursday, as advancers led 1,949 to 944 on the NYSE and led 2,173 to 782 on the NASDAQ

The SPY MFC green line is pointed up in the upper zone at 91 bullish. 

Uptrend sectors:  XLU, XLV, XLP, XLY, XLK, XLRE, XLI,

Neutral sectors: XLF, XLE, XLB,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

87 of 100 NDX stocks closed higher on Thursday.

61 NDX stocks are above their 30 DMA.  COST, AMGN, ISRG, CHKP, CA, ORLY, AAPL, QCOM, PCAR, ROST, XLNX, SBUX, CMCSA, ILMN, VRSK, SNPS, CSCO, PAYX, DISH, ADP, TTWO, ESRX, ADSK, ADBE,  INTU, ALGN, CHTR, SYMC, AVGO, ULTA, MAR, HAS, HSIC, WBA, ATVI, NFLX, AAL, MDLZ, MSFT, TMUS, LBTYA, SHPG, QRTEA, HOLX, ALXN, BKNG, CTSH, EXPE, PYPL, BIDU, BMRN, CTRP, AMZN, FISV, GILD, MYL, NTES, REGN, SWKS, VOD, VRTX,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 9

AMZN, FISV, GILD, MYL, NTES, REGN, SWKS, VOD, VRTX,

Moving Below 30 DMA = 2

CSX, NVDA,

Intermediate-term trending stocks: 

ADBE, COST, DG, AAPL, AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN, CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC, EL, CME, KORS, A, WUBA,

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DIA New All-time High...SPY HBO Setup...Financials, Materials Lead...

© 2018

DIA broke through horizontal resistance to a new all-time closing high (on a dividend adjusted chart.) on Wednesday.

SPY is 52 cents below it Aug 29 all-time high of 291.74 and is a Horizontal Breakout (HBO) setup.

Four sectors were higher, led by financial XLF +1.70% and materials XLB +1.09%.

The DJIA, closed up 158 points at 26,405, its third highest close only behind Jan 26 & 29, led by strength in GS, CAT, JPM, UNH and BA.  This is the forty-eighth consecutive close above 25,000 since June 15 and the fifth close above 26,000 since Feb 1.

SPY up .31 at 291.22, on 49.0 million shares, 16% below average volume. Up on lower volume.

VIX down 1.04 at 11.75 

Oil up 1.57 at 71.02

TLT down.70 at 116.61 on 13.3 million shares. 

GS +2.92%, JPM +2.90%, led the DJIA, 20 advancers, -3.

SWN +6.37%, BWA +5.00% and NFX +4.41%, led the SPX.

TSLA +4.93%, JD +4.54%, BIDU +4.39%, and CTRP +3.42%, led the NDX.

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

Up: DIA, SPY,

Down: QQQ, IWM

Breadth weakened on Wednesday, as decliners led 1,619 to 1,279 on the NYSE and led 1,627 to 1,334 on the NASDAQ

The SPY MFC green line is pointed up in the upper zone at 90 bullish. 

Uptrend sectors:  XLU, XLV, XLP, XLY, XLK, XLRE, XLI,

Neutral sectors: XLF, XLE, XLB,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

52 of 100 NDX stocks closed higher on Wednesday.

54 NDX stocks are above their 30 DMA.  COST, AMGN, ISRG, CHKP, CA, ORLY, AAPL, QCOM, PCAR, ROST, XLNX, SBUX, CMCSA, ILMN, VRSK, SNPS, CSCO, PAYX, DISH, ADP, TTWO, ESRX, ADSK, NVDA, ADBE,  INTU, ALGN, CHTR, SYMC, AVGO, ULTA, MAR, HAS, HSIC, WBA, ATVI, NFLX, AAL, MDLZ, MSFT, TMUS, LBTYA, SHPG, QRTEA, HOLX, ALXN, BKNG, CSX, CTSH, EXPE, PYPL, BIDU, BMRN, CTRP,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

BIDU, BMRN, CTRP,

Moving Below 30 DMA = 6

AMZN, CTAS, FISV, JBHT, REGN, SIRI,

Intermediate-term trending stocks: 

ADBE, COST, DG, AAPL, AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN, CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC, EL, CME, KORS, A, WUBA,

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Dramatic Rally after Tariff Details Become Known...

© 2018

Tuesday was an actual example of institutions seeing the elimination of the uncertainty of whether tariffs would be imposed or not.  Once they were by the US and China, the market trend resumed its upward direction with a strong bounce.

DIA broke through its Jan high to a new closing high (on a dividend adjusted chart.) have bounced and watch for potential bounce continuation on Monday, while SPY and DIA are in a HBO setup. 

SPY is a bounce and breakout setup.

AXP, NKE, and MA hit new highs on Tuesday. 

Seven sectors were higher, led by discretionary XLY +1.27% and industrials XLI +0.91%.

The DJIA, closed up 184 points at 26,246, a new 6-month high, led by strength in BA, CAT, HD, MMM and NKE.  This is the forty-seventh consecutive close above 25,000 since June 15 and the fourth close above 26,000 since Feb 1.

SPY up 1.57 at 290.91, on 61.9 million shares, 5.2% above average volume. Up on slightly lower volume.

VIX down .89 at 12.79 

Oil up .68 at 69.45

TLT down 1.24 at 117.31 on 10.1 million shares. 

NKE +2.40%, BA +2.14%, led the DJIA, 23 advancers, 0.

UNM +5.65%, UNP +4.46% and NSC +4.14%, led the SPX.

NFLX +4.94%, SYMC +4.29%, MU +4.02%, and CHTR +2.92%, led the NDX.

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

Up: QQQ, DIA, SPY, IWM

Down:

Breadth strengthened on Tuesday, as advancers led 1,622 to 1,292 on the NYSE and led 1,713 to 1,220 on the NASDAQ

The SPY MFC green line is pointed up in the upper zone at 87 bullish. 

Uptrend sectors:  XLU, XLV, XLP, XLY, XLK, XLRE, XLI,

Neutral sectors: XLF, XLE, XLB,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

79 of 100 NDX stocks closed higher on Tuesday.

57 NDX stocks are above their 30 DMA.  COST, AMGN, ISRG, CHKP, CA, ORLY, AAPL, QCOM, PCAR, ROST, XLNX, SBUX, CMCSA, ILMN, VRSK, SNPS, CSCO, PAYX, DISH, FISV, ADP, TTWO, ESRX, REGN, ADSK, NVDA, ADBE,  INTU, ALGN, CHTR, SIRI, SYMC, AVGO, ULTA, MAR, HAS, HSIC, WBA, ATVI, NFLX, AAL, MDLZ, MSFT, TMUS, LBTYA, SHPG, QRTEA, HOLX, ALXN, AMZN, BKNG, CSX, CTAS, CTSH, EXPE, JBHT, PYPL,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 9

ALXN, AMZN, BKNG, CSX, CTAS, CTSH, EXPE, JBHT, PYPL,

Moving Below 30 DMA = 1

WDAY,

Intermediate-term trending stocks: 

ADBE, COST, DG, AAPL, AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN, CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC, EL, CME, KORS, A, WUBA,

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