QQQ Finds a Little Bounce in its Step as AMZN, FB, GOOGL, MSFT, ADBE, PYPL, MU, Buyers Return at Support...

Share Comments in the section below or email us at chartsignals@yahoo.com

After the Close Review of Wednesday’s market action…/ES, SPY, DIA, QQQ, AAPL, AMZN, FB, GOOGL, MSFT, ADBE, PYPL, MU, AXP BA, CAT, GS, HS, IBM, JPM and more great bull flag setups…technical analysis insights…9:15 pm PST

© 2017

Five sectors were higher and one was unchanged on Wednesday, led by technology XLK +0.64% and staples XLP +0.64%.

SPY up .05 at 263.24 on 75.8 million shares, 6% above average volume.  Up on lower volume.

VIX down .31 at 11.02

Oil down 1.51 to 55.97

TLT up .44 to at 127.68…on 10.9 million shares, 38% above average volume.  Up on higher volume.

MSFT +1.46%, and V +1.07%, led the DJIA, 11 advancers.

HRB +10.27%, BF/B +6.53%, and AGN +2.26%, led the SPX.

ADBE +3.57%, TSLA +3.15%, PYPL +2.72%, ISRG +2.58%, and ALGN +2.49%, led the NDX.

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

Up: QQQ,

Down: SPY, IWM, DIA,

Breadth strengthened slightly on Wednesday, as decliners led 1,666 to 1,230 on the NYSE and led 1,930 to 961 on the NASDAQ.

The SPY MFC green line in the upper zone at 80.2, prepare to become defensive.

                               

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…BA, MCD, CAT, TRU, CBOE, LYV, WYNN, 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, RACE, TAL,

50 of 100 NDX stocks closed higher on Wednesday.

48 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

ILMN, TSLA,

Moving Below 30 DMA = 2
DISH, MYL,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

Add Comments here