After the close Review of Friday’s
action…IWM, QQQ, SPY, DIA, weekly
action modest down move, intermediate trend up, use weekly candles, be
defensive, support Fib retracement, prepare for potential bounce, potential
MACD divergence SPY, QQQ, bull flags
AAPL, AXP, MCD, V, ADBE, LRCX, MU, PYPL,
TSLA, CRM, KSU, CCL, RCL, breakout setups MSFT, ADSK, AMAT, MCHP, MNST, ROST, EL…
© 2017
BABA +2.18% new all-time high.
DIA spinning top at short-term support.
SPY inverted hammer at short-term support.
QQQ spinning top at short-term support.
IWM spinning top at short-term support.
Four sectors were higher, led by utilities XLU +0.59% and
energy XLE +0.50%.
SPY down .38 at 242.71 on 136.7 million shares, 121%
above average. Down on higher
volume.
VIX down 1.29 at 14.26.
Oil up 1.97 to 48.90
TLT down .03 at 126.62…on 8.3 million shares, 24% above avg. Flat on Clower
volume.
CAT +0.69%, and CVX +0.53%, led
the DJIA, 10 advancers.
EL +7.73%, SWN
+2.92% and
RRC +2.75% led the SPX.
ROST +10.67%, AMAT +2.74%, MU +2.57%, and CTRP +2.54%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up:
Down:
IWM, QQQ, SPY, DIA
Breadth strengthened
on Friday as
advancers led 1,502 to 1,336 on the
NYSE and led 1,442 to 1,359 on the NASDAQ.
The SPY MFC green
line is at 55,
defensive.
Uptrend
sectors: XLU,
Neutral
sectors: XLK, XLP, XLF, XLY, XLRE, XLV,
XLB, XLI
Down
trend sectors: XLE
Intermediate-term
trending stocks: PYPL, ADBE, NVDA, FB, ATVI, EA, BA, MCD, V,
CCL, RCL, ALGN, ANET, SQ, MOMO, CC, BZUN, AABA, TTWO, PGR, TRU, LYV, ALL, TAL,
BABA, A, EDU, SHOP, EXPE,
37 of 100 NDX stocks closed
higher and one was unchanged on Friday.
30
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
CA, MU, ROST
Moving Below 30 DMA = 3
INTC, LBTYA, NCLH
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Down
Add Comments here
Great conditional order set-ups for Monday. These videos keeps us on our toes. Thanks, Dave
ReplyDeleteThank you for helping us maintain the appropriate perspective and trading what we see...not feel on the way down.
ReplyDeleteDave just thought your after the close video was outstanding in keeping my bandwidth flowing, thanks for all you do, aloha
ReplyDeleteExcellent video Dave! Thank you again for all your insights, certainly helps me see more clearly.
ReplyDeleteThank you Dave. I got the news of your departure when I was on vacation and I was very upset. But now very glad to see that you are still with us and still guiding us through all the noise.
ReplyDeleteTony Dolcinyadis
Tony, I think a number of students probably felt the same way. BUT I feel Dave is more free now to do any type of strategy on any given day as opposed to having do a "stock trade on Wed/Thurs" or "advanced options on Wed" to match the trading room schedule. A blessing in disguise.....
ReplyDeleteExcellent presentation on "weight of the evidence" and "thinking like a master chess player." Thank you for being the "voice of reason" when it comes to communicating about the market.
ReplyDeleteAnother great presentation Dave. I feel I am ready for Monday morning no matter what the market throws at me.
ReplyDeleteThank you for helping us see more clearly what is right in front of our eyes. Looking forward to Monday...
ReplyDeleteThanks Dave. Great analysis
ReplyDeleteDave
ReplyDeleteThanks for the early video it was a surprise when I checked early Sat. and it was posted
Thanks again
Mike