Thursday, December 21, 2017

DIA, SPY, QQQ, IWM Forming Bull Flag Pattern...NKE Lower after EPS Beat...





After the Close Review of Thursday’s market action…QQQ, SPY, DIA, IWM, XLF…Can you find the 20 bull flag setups in tonight’s post?  9:01 pm PST
© 2017


Five sectors were higher on Thursday, led by energy XLE +2.12% and financial XLF +0.86%.


SPY up .55 at 267.58 on 67.0 million shares, 17% below average volume.  Up on lower volume.
VIX down .10 at 9.62
Oil up .20 to 58.23
TLT up .46 at 124.60…on 7.0 million shares, 11% below average volume.  Up on lower volume.


CVX +3.25%, and GS +2.28%, led the DJIA, 15 advancers.
FOSL +9.46%, EVHC +5.82%, and HES +5.34%, led the SPX.
CHTR +5.23%, LBTYA +4.34%, CMCSA +3.63%, LVNTA +3.49%, and BIDU +2.62%, led the NDX.

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

Up: IWM, DIA, SPY, QQQ
Down:

Breadth strengthened on Thursday, as advancers led 1,768 to 1,136 on the NYSE and led 1,728 to 1,165 on the NASDAQ.

The SPY MFC green line is in the upper zone at 92, bullish.

Uptrend sectorsXLY, XLI, XLK, XLF, XLB, XLV, XLP, XLE,

Neutral sectors: XLRE, XLU
Down trend sectors:

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past week and it is appropriate to wait for the uptrend to resume before considering entry… CAT, CBOE, VRSN, WYNN, BA, MCD, IBKR, AA, V, TRU, LYV, FCAU, CCL, RCL, SQ, CC, EDU, ADBE, PYPL, ALGN, MU, FB, A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, WB, LRCX, NVDA, RACE, TAL,


44 of 100 NDX stocks closed higher on Thursday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 5                            
BIDU, CHTR, LVNTA, REGN, SYMC,

Moving Below 30 DMA = 5
CERN, CHKP, GILD, ILMN, MU,


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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