Friday, November 17, 2017

QQQ, SPY, DIA Pause after Thursday's Big Gains...



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After the Close Review of this week’s market action…IWM, QQQ, SPY, DIA, weight of the evidence analysis including advancers, decliners and dollar volume of advancing and declining issues in the NDX and SPX, weekly charts on IWM, QQQ, SPY, DIA, XLY, XLK, XLU, XLRE, XLE, XLF, XLB, XLV, XLI, XLP and more bull flag and breakout setups and great technical analysis insights…9:1 pm PST
© 2017


Three sectors were higher on Friday, led by energy XLE +0.49% and discretionary XLY +0.44%.

Consumer discretionary stocks FL, VIAB, ROST, GPS, FOXA, TGT, DISCA, ULTA, FOSL, KSS, NKE, SIG, OMC, TJX, LB, UAA, PH, JWN, CMG, GT, IPG and TIF all gained more than 2% on Friday.

SPY down .76 at 257.86 on 75.7 million shares, 25% above average volume.  Down on higher volume.
VIX down .33 at 11.43
Oil up 1.33 to 56.80
TLT up .93 to at 126.39…on 6.9 million shares, average volume.  Up on higher volume.


NKE +3.42%, and VZ +1.45%, led the DJIA, 8 advancers.
FL +28.16%, GPS +6.99% and SWN +5.74% led the SPX.
NTES +12.65%, VIAB +10.38%, ROST +9.99%, FOXA +6.24%, and DISCA +4.71%, led the NDX.

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

Up: IWM,
Down: SPY, QQQ, DIA

Breadth weakened on Friday as advancers led 1,872 to 1,024 on the NYSE and led 1,788 to 1,101 on the NASDAQ.

The SPY MFC green line turned down at 76.7 defensive.

Uptrend sectorsXLY, XLK, XLU, XLRE, XLE, XLF,
Neutral sectors: XLB, XLV, XLI, XLP,
Down trend sectors:

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


46 of 100 NDX stocks closed higher on Friday.

60 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
SHPG, VIAB,

Moving Below 30 DMA = 3
CMCSA, CTSH, XLNX


The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Neutral


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1 comment:

Fav said...

Great video as usual.
Dave you have really helped my trading. I can't thank you enough for generously sharing your expertise and invaluable insight.
Have a great week and a wonderful thanksgiving!