After the Close Review of Wednesday’s record
closing highs… QQQ, AAPL, AMZN, FB,
GOOGL, MSFT, SPY, DJIA, DIA, IWM, VIX, TLT, 11 GREAT bull flag, 3 breakout
and 1 bo test setups,…10:31 pm PT
Wednesday’s leaders: ATVI, HRB, MGM, TRIP, LEN, CL, K, HBI, WU, QRVO, SEE, XRX, REGN, SYY, BBY, ALGN, TSCO, KR, MCK, GIS, NWL, SBAC, CRM, NTES, EA, QCOM, SWKS, ADBE
Laggards: FOSL, DVA, CSRA, TWX, CHK, HUM, EVHC, ROK, Q, INCY, SCG, AMD, DISH, VRTX, MRO, EXPD
Seven sectors were higher on Wednesday, led by staples XLP +1.09% and
real estate XLRE
+0.74%.
SPY up .44 at 259.11 on 50.3 million shares, 14% below average volume. Up on lower
volume.
VIX down .11 at 9.78
Oil down .12 to 56.82
TLT down .288 at 126.36…on
3.3 million shares, 54% below average. Down on lower volume.
MRK +1.78%, and WMT +1.47%, led
the DJIA, 13 advancers.
HRB +5.12%, MGM
+5.09% and
TRIP +4.32% led the SPX.
ATVI +5.89%, REGN
+2.67%, ALGN +2.55%,
TSCO +2.54%, and NTES +2.48%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
QQQ, SPY, IWM, DIA,
Down:
Breadth strengthened
on Wednesday as advancers led 1,461 to 1,427 on the NYSE and decliners led 1,549 to 1,318 on
the NASDAQ.
The SPY MFC green
line is in
upper zone at 96 bullish.
Uptrend
sectors: XLK,
XLY, XLU, XLF, XLB, XLE, XLRE, XLI,
Neutral
sectors: XLV,
Down
trend sectors: XLP,
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, WUBA, TAL, CCL, RCL, LYV, EDU, SHOP, ATVI, WB
51 of 100 NDX stocks closed
higher on Wednesday.
56
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 7
ATVI, CTAS, FISV, MCHP, MYL, TSCO, WDC
Moving Below 30 DMA = 2
ROST, VRTX
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Up
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2 comments:
Dave, I enjoy watching how you keep the futures contracts open over the trend. When you re-entered the futures a few days ago, what type of stops are good for that time period?
Thank you Dave.
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