Wednesday, August 30, 2017

Spread the Word Around...Guess Who's Back in Town...GDP 3.0% vs 2.8% Forecast...



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Just for fun:  https://www.youtube.com/watch?v=xuR0DqbQGN8



After the Close Review Wednesday’s action… SPY, weekly charts, QQQ, DIA, IWM, MFC green line turns up, MSFT, GILD, AMZN, FB, NFLX, AAPL, ATVI, AVGO, AMAT, MAR, LRCX, SPX, ABE, PYPL, MU, MCHP, sim trade positions, BABA, WDC, UNH, EA, V, JD, EXPE, SQ, X, SPY
© 2017



Eight sectors were higher, led by materials XLB +0.74% and technology XLK +0.72%.

SPY up 1.16 at 246.01 on 62.0 million shares, 3% below average.  Up on higher volume.
VIX down .48 at 11.22.
Oil down .35 to 45.97
TLT down .04 at 127.61…on 4.7 million shares, 30% below avg.  Flat on lower volume. 

CSCO +1.62%, and CAT +1.33%, led the DJIA, 14 advancers.
MLM +5.41%, VMC +4.60% and AMD +4.28% led the SPX.
INCY +10.64%, GILD +7.25%, BMRN +5.63%, and ADI +5.24%, led the NDX.



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

Up: QQQ, IWM, SPY, DIA
Down:

Breadth strengthened on Wednesday as advancers led 1,809 to 1,084 on the NYSE and led 1,753 to 1,046 on the NASDAQ.

The SPY MFC green line turned up at 41, bullish.

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

Intermediate-term trending stocks:  PYPL, ADBE, NVDA, FB, ATVI, EA, BA, MCD, V, CCL, RCL, ALGN, ANET, SQ, CC, AABA, TTWO, PGR, TRU, LYV, ALL, TAL, BABA, A, EDU, SHOP, EXPE,


91 of 100 NDX stocks closed higher and one was unchanged on Wednesday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 17
AMAT, AMGN, BMRN, CELG, CMCSA, CSCO, EBAY, FB, INCY, KLAC, LBTYA, MAR, MXIM, NVDA, REGN, TXN, VRTX


Moving Below 30 DMA = 0


The intermediate and long-term trends are still up.

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


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8 comments:

Steph said...

Dave, the information in these videos, is as valuable to me as were my Investools classes. Once again, thank you for dedicating yourself to teaching us this way. The technicals instruction/chart analysis, is very much appreciated. Thanks again...

Janet said...

I'm so grateful that someone shared the link to your blog in a chat window, and I'm so glad that you are still teaching technical analysis. Thank you, Dave!

Gary said...

The buyers are back in town?

jlutzkanin said...

Dave, as always thank you very much. The education you provide helps me every day

Don said...

Just for Fun: Wow! "The Boys are back in Town' Isn't is exciting! Thanks for all that you do for us with your teaching and insights.

Fav said...

Thank you Dave for the invaluable insight that you share with us

Unknown said...

Thanks for the Video Dave! Insightful as always!!

JimR.qqq said...

Hi Dave,

FYI, this boy is glad your back in town :-)

Patience and sticking to rules have led to one very nice weekly gain in portfolio.
Thanks for continuing to remind us about institutional thinking!