Wednesday, December 13, 2017

Fed Raises Rates as Expected...DIA New All-time High as Staples and Industrials Lead...

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After the Close Review of Wednesday’s market action…IWM, DIA, CAT, NKE, WMT, MMM, MCD, HD, UTX, BA, CSCO, QQQ, AAPL, AMZN, FB, GOOGL, MSFT, SPY, VIX, XLP, XLI  and more breakout setups…technical analysis insights…9:35 pm PST
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Seven sectors were higher on Wednesday, led by staples XLP +1.57% and industrial XLI +0.39%.

SPY down .03at 266.75 on 85.1 million shares, 40% above average volume.  Down slightly on higher volume.
VIX up .26 at 10.18
Oil down .78 to 56.67
TLT up .95 at 127.33…on 8.5 million shares, 10% above average volume.  Up on higher volume.

CAT +3.59%, and NKE +3.43%, led the DJIA, 19 advancers.
CTL +6.69%, MAT +6.63%, and FOSL +5.10%, led the SPX.
MELI +8.07%, JD +5.81%, NTES +3.85%, HAS +3.73%, and INCY +2.79%, led the NDX.

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


Down: SPY,

Breadth strengthened on Wednesday, as advancers led 1,638 to 1,285 on the NYSE and led 1,785 to 1,093 on the NASDAQ.

The SPY MFC green line is pointed up in the upper zone at 90, bullish.

Uptrend sectorsXLY, XLI, XLF, XLB, XLV, XLP, XLE, XLRE,
Neutral sectors: XLK, 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… CBOE, VRSN, WYNN, BA, MCD, CAT, TRU, LYV, FCAU, CCL, RCL, SQ, CC, EDU, AA, ADBE, PYPL, ALGN, V, MU, FB, A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, WB, LRCX, NVDA, RACE, TAL,

59 of 100 NDX stocks closed higher on Wednesday.

64 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 7                            

Moving Below 30 DMA = 1

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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1 comment:

Devoir said...

It will be interesting to see what happens over the next few weeks.....