After the Close Review of Wednesday’s
action… SPY, DIA, QQQ new all-time
closing high, IWM, TLT, VIX, review
open sim trade positions MU, PYPL, GPRO,
/ES, setup sim order X, bull flag ADBE, UNH, AAPL, horizontal breakout NFLX, JD, CC, C, FAS, XLF, AXP, NVDA, BAC, ATVI, MSFT, ADSK, FB, EA,
GPRO…
© 2017
Four sectors were higher on Wednesday, led by energy
XLE +1.25% and
discretionary XLY +0.72%.
SPY up .12 at 250.17 on 59.2 million shares, 12% below average. Higher on
higher volume.
VIX down .08 at 10.50
Oil up .95 to 49.32
TLT down .50 at 126.29…on 6.7 million shares, 15% below
average. Down on lower
volume.
CVX +1.50%, and DWDP +1.43%, led
the DJIA, 21 advancers.
CNC +8.01%, JWN
+5.97% and
CHK +5.35% led the SPX.
JD +4.57%, ORLY
+4.39%, XLNX +3.03%,
and VIAB +2.95%, led
the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
IWM, DIA, QQQ, SPY,
Down:
Breadth weakened
on Wednesday as
advancers led 1,496 to
1,358 on
the NYSE and led 1,545 to 1,246 on the NASDAQ.
The SPY MFC green
line is pointed
up at 87,
bullish.
Uptrend
sectors: XLK, XLV,
XLRE, XLU, XLB,
Neutral
sectors: XLE, XLP, XLY, XLI, XLF,
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, ATVI, EA, MCD, V, SQ, CC,
TRU, ANET, CCL, RCL, WUBA, NVDA, BA, AABA, BABA, AA, LRCX,
49 of 100 NDX stocks closed
higher and one was unchanged on Wednesday.
71
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
AAL, ORLY, PCLN SBUX, STX
Moving Below 30 DMA = 4
AAPL, ADP, HSIC, WDC
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Up
Add Comments here
6 comments:
Dave,
Thank you for the focus on Momentum, and specifically, how to see it in the candle patterns....Also, how to use it effectively in the profit management phase of running the "business".
Your videos are consistently taking us to another level with our trading education.....moving us from the "mechanics" of trading to the management of the business....
Again, thank you.
Fayburn
Great recap video to wake up to......Your insights are a huge help. The caution on the slow down of momentum is a BGO. Thanks Dave. Looking forward to this mornings post.
DAVE,
Great Video looking into the future and how there could be a slow down
and how to manage your profits
Also LOVED your hedging Video and how to trade Futures, I know it
was short but LOOKING forward to proper webex when you have time in the future
Really appreciate you Taking your time
and show great insights to how the Market works
and your hands aren't tied with investools
Mike
Dave,
Am I missing the X trade set-up in the video? You mentioned the working order, but I was curious of the strategy your looking at in the trade? By the way, great videos, for some reason they seem more powerful and direct uncensored. I think I've learned more here in 5 weeks than I did in 5 years at previous. Or, maybe it's finally the big BGO!!
Gary
Gary
Dave just mention that he set up X as a bullflag trade
so usually just put in the .20 filter and you can use fib or flagpole to do the numbers or use this trade tool its faster and can paste into TOS the order
http://tradetool.azurewebsites.net/#/trade/XLE/BullFlagTrade/20141031-011807_XLE_18FC00C7
Better late than never... Some Dave Johnson is better than none!!!
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