Friday, November 16, 2018

SPY, DIA, IWM Bounce on Friday as Tech Holds Down QQQ...




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On Friday, NVDA -18.76% and WSM -11.23% fell after reporting EPS Thursday after the close.

The DJIA, closed up 123 points at 25,413led by strength in UNH, MMM, MCD, TRV, and AAPL.  This is the thirteenth straight close above 25,000.

Seven of eleven sectors were higher on Friday, led by utilities XLU +1.54% and real estate XLRE +1.54%.

SPY up.71 at 273.73 on 126.6 million shares, 1% above average volume. Up on lower volume.
VIX down 1.84 at 18.14 
Oil up .25 at 57.03
TLT up .66 at 114.70 on 9.2 million shares. 

TRV +2.53%, UNH +2.33%, led the DJIA, 20 advancers, -2.
PCG +37.54%, EIX +15.38% and NTAP +4.38%, led the SPX.
CHTR +3.16%, KLAC +2.60%, CTSH +2.42%, and XLNX  +2.29% led the NDX.

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

Up: DIA, SPY, IWM
Down: QQQ,

Breadth strengthened on Friday, as advancers led 1,513 to 1,390 on the NYSE and decliners led 1,542 to 1,462 on the NASDAQ

The SPY MFC green line is pointed down at 38 and is short-term bearish.

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

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

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


56 of 100 NDX stocks closed higher on Friday.

62 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, CMCSA, ESRX, INTC, QRTEA, CHTR, COST, MELI, AAL, FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, MCHP, MYL, VRSK, WDAY, CTXS, HSIC, ORLY, SNPS, XRAY, ADI, CSX, MAR, NXPI, TMUS, VOD, MXIM, NTES, ADP, AMAT, AVGO, BIIB, CHKP, CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, KLAC, LRCX, PAYX, PCAR, SNPS, STX, TXN, ADSK, AMGN, ISRG, MSFT,


NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
ADSK, AMGN, ISRG, MSFT,

Moving Below 30 DMA = 7
ASML, BKNG, DLTR, INTU, JD, MU, SHPG,


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Thursday, November 15, 2018

SPY, DIA, IWM Form Piercing Line as QQQ Forms Bullish Engulfing Following Intra-day Reversal...




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After-hours NVDA -16.77%, WSM -13.14% and AMAT -7.77% fell after reporting EPS.  NVDA and AMAT negative reactions brought QQQ and /NQ down in after-hoursLook for a potential lower open in QQQ and /NQ Friday morning.

On Thursday CSCO +5.50% and NTES +5.32% gained after EPS announcements, while NTAP -6.31% and WMT -1.96% fell.

The broad indexes had another volatile day opening lower before an intra-day reversal resulted with SPY, DIA and IWM forming a bullish piercing line candle.  QQQ formed a bullish engulfing candle. SPY, DIA, QQQ and IWM are forming a right shoulder in their inverse head & should price pattern.

The DJIA, closed up 208 points at 25,289led by strength in MMM, AAPL, CAT, JPM and V.  This is the twelfth straight close above 25,000.

Seven of eleven sectors were higher on Thursday, led by technology XLK +2.51% and energy XLE +1.47%.

SPY up 2.82 at 273.02 on 135.1 million shares, 6% above average volume. Up on higher volume.
VIX down 1.27 at 19.98 
Oil up .78 at 56.78
TLT down .05 at 114.04 on 7.8 million shares. 

CSCO +5.50%, MMM +3.46%, led the DJIA, 22 advancers, +16.
ANET +6.41%, MU +4.94% and MCHP +4.62%, led the SPX.
JD +6.33%, TTWO +6.09%, XLNX +5.63%, and NTES +5.32% led the NDX.

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

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

Breadth strengthened on Thursday, as decliners led 1,698 to 1,252 on the NYSE and led 2,087 to 957 on the NASDAQ

The SPY MFC green line is pointed down at 40 and is short-term bearish.

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


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

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


86 of 100 NDX stocks closed higher on Thursday.

65 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, CMCSA, DLTR, ESRX, INTC, QRTEA, SHPG, CHTR, COST, MELI, AAL, BKNG, FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, MCHP, MYL, VRSK, WDAY, CTXS, HSIC, ORLY, SNPS, XRAY, ADI, CSX, MAR, NXPI, TMUS, VOD, MXIM, NTES, ADP, AMAT, ASML, AVGO, BIIB, CHKP, CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, INTU, JD, KLAC, LRCX, MU, PAYX, PCAR, SNPS, STX, TXN,


NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 23
ADP, AMAT, ASML, AVGO, BIIB, CHKP, CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, INTU, JD, KLAC, LRCX, MU, PAYX, PCAR, SNPS, STX, TXN,

Moving Below 30 DMA = 1
EXPE,

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Wednesday, November 14, 2018

Volatility Dominates on Wednesday...CSCO Up, NTAP Down in After-hours, WMT Reports Before the Open on Thursday...




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After-hours CSCO +4.96% and NTAP -6.31% reported EPS.  WMT reports before the open on Thursday.

The broad indexes had another volatile day with SPX posting a 61 point range, the
DJIA a 565 point range and the NDX a 179 point range.  SPY, DIA and QQQ closed below Tuesday’s inverted hammer, making a lower right should in their inverse head & should price patterns.

The DJIA, closed down 205 points at 25,080led by weakness in AAPL, BA, UNH, TRV and GS.  This is the eleventh straight close above 25,000.

One of eleven sectors was higher on Wednesday, led by communication XLC +0.49% and real estate XLRE -0.03%.

SPY down 1.86 at 270.20 on 125.3 million shares, 1% below average volume. Down on higher volume.
VIX up 1.23 at 21.25 
Oil up .72 at 56.00
TLT up .07 at 114.09 on 8.6 million shares. 

DWDP +0.89%, HD +0.50%, led the DJIA, 6 advancers, -5.
COTY +6.62%, AMD +6.12% and BWA +3.51%, led the SPX.
CTRP +4.16%, MELI +2.72%, NTES +2.58%, and LBTYA +2.45% led the NDX.

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

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

Breadth weakened on Wednesday, as decliners led 1,769 to 1,148 on the NYSE and led 2,058 to 972 on the NASDAQ

The SPY MFC green line is pointed down at 44 and is short-term bearish.

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


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

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


40 of 100 NDX stocks closed higher on Wednesday.

43 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, CMCSA, DLTR, ESRX, INTC, QRTEA, SHPG, CHTR, COST, MELI, AAL, BKNG, FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, MCHP, MYL, VRSK, WDAY, CTXS, HSIC, ORLY, SNPS, XRAY, ADI, CSX, EXPE, MAR, NXPI, TMUS, VOD, MXIM, NTES,


NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
MXIM, NTES,

Moving Below 30 DMA = 5
ADP, HOLX, KLAC, PAYX, ROST,

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