After the Close Review of Friday’s action…IWM, SPY, /ES, DIA, QQQ, GILD, XLNX, TSCO, MNST, MSFT, CERN, ISRG, EBAY, SYMC, ADSK, AMGN, NVDA, JD, SINA, TSLA, ALB, AA, BAC, CAT, BABA, and more…
Four sectors were higher on Friday, led by energy XLE +0.51% and
industrials XLI +0.29%.
SPY up .05 at 249.44 on 51.2 million shares, 24% below average. Up on higher
volume.
VIX down .08 at 9.59
Oil down .08 to 50.66
TLT up .36 at 126.20…on
5.6 million shares, 27% below average. Up on lower volume.
CSCO +2.05%, and VZ +1.96%, led
the DJIA, 14 advancers.
KMX +7.77%, LB
+7.51% and
EFX +6.91% led the SPX.
ORLY +3.62%, QVCA +2.72%, PAYX +2.68% and STX +2.60%, led the NDX.
ORLY +3.62%, QVCA +2.72%, PAYX +2.68% and STX +2.60%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up:
IWM, SPY,
Down:
DIA, QQQ,
Breadth strengthened
on Friday as advancers led 1,873 to
1,019 on
the NYSE and led 1,879 to 959 on the NASDAQ.
The SPY MFC green
line is in
upper zone at 95, bullish.
Uptrend
sectors: XLI,
XLF, XLK, XLV, XLB, XLE, XLRE,
Neutral
sectors: XLY, XLU, XLP,
Down
trend sectors:
Intermediate-term trending stocks: ALGN, CBOE, ISRG, A, SHOP, TAL, TTWO, ADBE,
LYV, FCAU, V, MCD, WYNN, WB, EDU, PYPL, MU, ATVI, FB, EA, SQ, CC, TRU, ANET,
CCL, RCL, WUBA, NVDA, BA, AABA, BABA, AA, LRCX, RACE,
64 of 100 NDX stocks closed
higher on Friday.
65
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 6
ESRX, EXPE, HAS, ILMN, MYL, TMUS
Moving Below 30 DMA = 5
ADSK, ATVI, JD, NTES, TSLA,
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Down
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6 comments:
Dave, great way to start the weekend with your recap and review of potential setups. Markets can turn on a dime, but the technical setups you discussed are really crisp and clear this week. Sunday will be a day to set up some promising conditional bull flag entries, and we'll see if they follow thru next week. Thanks for your real world daily analysis.
Dave
Looking at the evidence instead of listening to the noise makes quite a difference.
Thanks for pointing out the evidence.
Have a great weekend!
Simulation trading develops skill. I love it. Thanks for another great video on bull flags,
John...you're welcome and you're right, they are crisp and in sync with the broad market...have a great weekend...Dave
Fav...you're welcome and you also have a great weekend...Dave
Don...when traders do simulation with purpose it develops skill...bull flags waving on Friday...Dave
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