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
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.
Up:
IWM, DIA, QQQ,
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
sectors: XLY,
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
HAS, ILMN, JD, KHC,
KLAC, REGN, XRAY
Moving Below 30 DMA = 1
FB,
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:
It will be interesting to see what happens over the next few weeks.....
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