Thursday, January 17, 2019

Late Rally Follows Report of Potential Tariff Easing...NFLX Drops After-hours...



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Lower SPX open followed by reversal.  Mid-afternoon rally sends SPX higher. 
  • Negative earnings reactions from MS and CSX.
  • WSJ report that US is considering easing China tariffs.
  • NFLX -3.82% on EPS beat with revenues missing.
The DJIA, closed up 162 points at 24,370led by strength in BA, CAT, MMM, GS and UTX.  

All eleven sectors were higher on Thursday, led by materials XLB +1.76% and industrials XLI +1.71%.

SPY up 1.98 at 262.96 on 96.1 million shares, 31% below average volume. Up on higher volume.
VIX down .98 at 18.06 
Oil up .16 at 52.48
TLT up .03 at 120.19 on 8.1 million shares. 

DWDP +2.96%, CAT +2.19%, led the DJIA, 24 advancers, +10
MTB +5.69%, PPG +4.70% and GT +3.79%, led the SPX.
FAST +5.95%, ISRG +3.56%, REGN +3.17%, and JBHT +3.06% led the NDX.

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

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

Breadth strengthened slightly on Thursday, as advancers led 2,070 to 843 on the NYSE and led 1,901 to 1,131 on the NASDAQ

The SPY MFC green line is pointed up at 58 and is short-term bullish.

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


81 of 100 NDX stocks closed higher on Thursday.

88 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMGN, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, INTC, JD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, AMD, CTAS, MELI, NTES, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, TTWO, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, CERN, CTXS, FAST, JBHT, MDLZ, MNST, NVDA, PAYX, SWKS, WLTW, CSX, MYL, ALXN, CMCSA, CTSH, EXPE, GOOGL, IDXX, KHC, MAR, MSFT, MXIM, MYL, NTAP, ORLY, TSLA, VRSK, ALGN, BIDU, UAL, AAL, ADP, CHKP, COST, CSCO, FISV, ILMN, MU, SBUX, SIRI,

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 10
AAL, ADP, CHKP, COST, CSCO, FISV, ILMN, MU, SBUX, SIRI,

Moving Below 30 DMA = 1
LBTYA,


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Wednesday, January 16, 2019

GS Leads DJIA, Financial Sector Leads SPX, Potential Tombstone Doji Forms on SPX...



© 2018


Choppy SPX price action was the pattern again on Wednesday.  SPY forms potential tombstone doji.  Watch for a potential pullback if price falls below Wednesday’s low.
  • Strong positive earnings reactions from GS, BAC, SCHW, CMA and USB on Wednesday as the financial sector led the SPX.
  • EU considering Brexit extension to 2020.
  • PM May survives no-confidence vote.
  • AAPL, AMZN, GOOGL and MSFT close up, while NDX closes down -1.08 on weakness in FB, INTC, AVGO, NFLX, PYPL, BIIB, GILD.
The DJIA, closed up 141 points at 24,207led by strength in GS, UNH, AAPL, AXP and CAT.  

Six of eleven sectors were higher on Wednesday, led by financial XLF +2.13% and real estate XLRE +0.47%.

SPY up .63 at 260.98 on 77.6 million shares, 44% below average volume. Up on lower volume.
VIX up .44 at 19.04 
Oil up .33 at 52.32
TLT up .12 at 120.16 on 6.0 million shares. 

GS +9.54%, UNH +1.79%, led the DJIA, 14 advancers, -9
BAC +7.16%, SCHW +5.54% and CMA +5.52%, led the SPX.
UAL +6.35%, ALGN +6.02%, WYNN +3.46%, and NTES +2.91% led the NDX.

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

Up: IWM, DIA SPY,
Down: QQQ,

Breadth weakened slightly on Wednesday, as advancers led 1,798 to 1,081 on the NYSE and led 1,871 to 1,148 on the NASDAQ

The SPY MFC green line is pointed up at 56 and is short-term bullish.

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


44 of 100 NDX stocks closed higher on Wednesday.

79 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMGN, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, INTC, JD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, AMD, CTAS, MELI, NTES, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, TTWO, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, CERN, CTXS, FAST, JBHT, MDLZ, MNST, NVDA, PAYX, SWKS, WLTW, CSX, MYL, ALXN, CMCSA, CTSH, EXPE, GOOGL, IDXX, KHC, MAR, MSFT, MXIM, MYL, NTAP,ORLY, TSLA, VRSK, ALGN, BIDU, LBTYA, UAL,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 4
ALGN, BIDU, LBTYA, UAL,

Moving Below 30 DMA = 6
ASML, CHKP, COST, FISV, FOXA, HSIC, 

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GS, BAC, UAL, CMA, USB Gap Higher after Positive Earning's Reactions...


This morning we see positive earning's reactions on GW, BAC, UAL, CMA, USB...








Tuesday, January 15, 2019

SPX Breaks Out of Horizontal Bull Flag as Volatility Continues to Fall, JPM Earnings...



© 2018

The SPX broke out of its horizontal bull flag of the past four days on a day with a wide array of global and domestic macro-announcements:  
  • China announces will stimulate economy by reducing taxes.
  • JPM sales & profits miss expectations, stock recovers from lower open and finishes higher.
  • US PPI -0.02% lower than forecast of unchanged.
  • KC Fed President Esther George and Dallas Fed President Rob Kaplan make dovish comments regarding interest rates.
  • UK Parliament vote rejects May’s Brexit plan.
The DJIA, closed up 155 points at 24,065led by strength in UNH, AAPL, MSFT, BA and NKE.  

Nine of eleven sectors were higher on Tuesday, led by healthcare XLV +1.80% and communication services XLC +1.66%.

SPY up 2.95 at 260.35 on 85.2 million shares, 39% below average volume. Up on higher volume.
VIX down .47 at 18.60 
Oil up 1.21 at 51.99
TLT down .44 at 120.04 on 8.9 million shares. 

UNH +3.55%, MSFT +2.90%, led the DJIA, 23 advancers, +14
FRC +11.84%, EW +8.43% and NKTR +7.23%, led the SPX.
INCY +7.10%, NFLX +6.52%, ALXN +3.86%, and AMZN +3.55% led the NDX.

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

Up: QQQ, SPY, IWM, DIA
Down:

Breadth strengthened on Tuesday, as advancers led 1,853 to 1,034 on the NYSE and led 2,073 to 948 on the NASDAQ

The SPY MFC green line is pointed up at 55 and is short-term bullish.

Uptrend sectors:  
Neutral sectors:  XLU, XLRE, XLB, XLY, XLC, XLV, XLI, XLK, XLP,
Down trend sectors: 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 TrendUp


83 of 100 NDX stocks closed higher on Tuesday.

81 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMGN, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, INTC, JD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, AMD, CTAS, MELI, NTES, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, TTWO, ADI, AMAT, AVGO, FOXA, ISRG, KLAC, LRCX, NXPI, SNPS, CERN, CTXS, FAST, JBHT, MDLZ, MNST, NVDA, PAYX, SWKS, WLTW, CSX, MYL,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 20
ALXN, ASML, CHKP, CMCSA, COST, CTSH, EXPE, FISV, GOOGL, HSIC, IDXX, KHC, MAR, MSFT, MXIM, MYL, NTAP, ORLY, TSLA, VRSK,


Moving Below 30 DMA = 2
MU, QCOM,


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