After the Close Review of Tuesday’s market
action… SPY, selling, exhaustion, 3-day trend neutral, smart
money, dumb money, VIX, demand for
puts, supply of puts, QQQ, IWM, DIA,
SPX, weight of the evidence, TLT, /CL,
XLK, XLV, XLRE, XLU, XLB FCX, AA, X, PYPL, ADBE, ATVI, EA, MCD, V, SQ, TTWO, A,
FB, ALGN, TAL, WIX, SPY weekly chart, trend is still up…
AAPL -1.20% tests breakout, forming bull flag.
Two sectors were higher on Tuesday, led by energy XLE +0.55% and staples XLP +0.15%.
Two sectors were higher on Tuesday, led by energy XLE +0.55% and staples XLP +0.15%.
SPY down 1.78 at 246.06 on 91.3 million shares, 40%
above average. Down on higher
volume.
VIX up 2.10 at 12.23.
Oil up 1.27 to 48.62
TLT up .35 at 126.75…on
14.1 million shares, 106% above avg. Up on higher volume.
WMT +1.82%, and HD +1.43%, led
the DJIA, 8 advancers.
TRIP +4.23%, CPB
+2.80% and
SLB +2.76% led the SPX.
STX +2.99%, MELI +1.87%, DLTR +1.76%, and ORLY +1.72%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
Down:
SPY, QQQ, IWM, DIA,
Breadth weakened on
Tuesday as
decliners led 2,037 to 871 on the NYSE and led 2,021 to 893 on the
NASDAQ.
The SPY MFC green
line is up at 65,
bullish.
Uptrend
sectors: XLK, XLV,
XLRE, XLU, XLB,
Neutral
sectors: XLP, XLF, XLY, XLI
Down
trend sectors: XLE
Intermediate-term trending stocks: PYPL, ADBE, FB, ATVI, EA, MCD, V, ALGN, ANET,
TTWO, CBOE, RACE, FCAU, CCL, RCL, WUBA, NVDA, BA, SQ, CC, AABA, TRU, LYV, TAL,
BABA, A, EDU, SHOP, EXPE, AA,
21 of 100 NDX stocks closed
higher on Tuesday.
63
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 4
IDXX, MELI, ORLY, STX
Moving Below 30 DMA = 8
AKAM, AVGO, CSX, CTAS, CTXS, FAST, LBTYA, SIRI
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Neutral
Add Comments here
10 comments:
Thank you for the best straight talk and chart analysis - fact over fiction. I appreciate the 3-day trend pointer as another way to look at the short-term price action. I had missed that one. : )
Great video. Thank you for doing these every day. I use to be a CNBC junkie and I found myself getting so negative with their broadcast that many times I missed opportunities in an up-trending market. Turning the financial news shows off has been the smartest thing I could have done.
I have a Watchlist named "Weight of the Evidence" that I watch every single day. It has made a Huge difference in my trading knowledge.. Great discussion on Dum and Smart Money. These videos are also my daily routine. Thanks for your amazing insight.
Dave, Thank you for your candid analysis of the SPY and VIX. I absolutely appreciate your use of fibs and the perspective from the intra day charts. You are teaching me to be strong handed and for that I am truly thankful.
Janet...you're welcome and thank you for watching...Dave
Jlutzkanin...I appreciate you candidness...you need to let me quote you on that, because that is so accurate, they let their objectives interfere with accurate observation and sadly that creates a scotoma for their viewers...hey, do they care as long as they sell advertising? DJ
Don...great to hear that...you're welcome...DJ
Ben...yes indeed, become strong hands and smart money...that's what we do as technicians...we trade what we see...you're welcome...Dave
Great sessions Dave (9/5/17).....the analysis on intraday volume was particularly interesting, and helpful. How it prepares our minds to think like a Master Chess Player.
Also, reiteration about trading what you see, not what you........
Great stuff! Keep it up.
Fayburn
PS. A little late reviewing this....have been occupied with victims of Harvey....Please continue to remember these folks in your prayers!!!
Post a Comment