Wednesday, October 25, 2017

Sharp Selloff Bounces, Still Closes Lower...XLNX Lower on EPS in After-hours...




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After the Close Review of Wednesday’s selloff and bounce back action…QQQ, DIA, IWM, SPY, VIX, TLT…earnings stocks negative reactions and positive reactions as money rotates from losing earning stocks to winning earning stocks…11:00 pm PT

© 2017 

DIA With Wednesday’s pull back DIA, SPY, QQQ and IWM each forming a bull flag price pattern.   IWM and QQQ formed a hammer candle today and SPY formed a near hammer candle.


Leading stocks FLIR, ANTM, AVY, AKAM, ESRX, NOC, TSS, WBA, TMO, EQR and V were all higher on positive EPS reactions on Wedndesday.


All ten sectors were lower on Wednesday, led by healthcare XLV -0.14% and staples XLI -0.28%.

SPY down 1.27 at 255.29 on 103.2 million shares, 70% above average volume.  Down on higher volume.
VIX up .07 at 11.23
Oil down .36 to 52.17
TLT down .59 at 122.84…on 10.0 million shares, 36% above average.  Down on higher volume.


NKE +2.85%, and V +1.00%, led the DJIA, 7 advancers.
FLIR +5.97%, ANTM +5.36% and AVY +5.20% led the SPX.
AKAM +4.03%, ESRX +3.93%, WBA +3.08%, HAS +1.55%, and CHTR +1.37%, led the NDX.

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

Up:
Down: QQQ, DIA, IWM, SPY,

Breadth weakened on Wednesday as decliners led 2,185 to 746 on the NYSE and led 1,928 to 941on the NASDAQ.

The SPY MFC green line is in upper zone at 90 bullish.

Uptrend sectorsXLI, XLF, XLB, XLK, XLV, XLE, XLY, XLRE, XLU,
Neutral sectors: XLP,
Down trend sectors:

Intermediate-term trending stocks:  LRCX, ADBE, PYPL, ALGN, NVDA, BA, SQ, MCD, MU, CC, TRU, FB, A, ISRG AA, CBOE, TAL, TTWO, LYV, AABA, BABA, FCAU, EDU, ANET, V, WYNN, RACE, WUBA, CCL, RCL, SHOP, ATVI, EA, WB,


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

54 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 3
ESRX, INCY, MAT,  

Moving Below 30 DMA = 7
CSX, FB, ILMN, SIRI, TMUS, WYNN, XLNX


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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