After the Close Review of Thursday’s market action…NDX, AAPL, AMZN, FB, GOOGL, MSFT, SPX,
INDU, IWM, AMZN, EA, EBAY, HAS, NFLX, SIRI, VIX, TLT, TNX…10:10 pm PST
Stocks moved lower on heavy volume on Thursday, with SPY logging its third heaviest selling
volume day of the past two years. Only
June 24, 2016 and this Monday had larger volume down days. SPY
closes below Tuesday’s low with the next support low at 254.33. There was a notable rebound after the close as NVDA had positive earnings reaction in
after hours.
The DJIA fell 1,032 points to 23,860 led down with weakness in BA, GS, MMM, HD, and UNH.
All sectors were lower on Thursday, led by utilities XLU -1.12% and staples XLP -2.15%.
SPY down 10.04 at 257.63 on 167.2 million shares, 109% above average volume.
Down on higher volume.
VIX up 5.73 at 33.46
Oil down 1.31 to 60.42
TLT down .13 at 118.69 on
16.2 million shares, 35% above average volume. Down on higher volume.
XOM -1.13%, and PG -1.98%, led
the DJIA, 0 advancers.
COTY +14.19%, VIAB
+7.21%, and
K +2.76%, led the SPX.
FISV +3.00%, MELI
+0.51% and
ORLY +0.06% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up:
Down:
IWM, SPY, DIA, QQQ
Breadth weakened on Thursday, as decliners led 2,648 to 321 on the NYSE and led 2,523 to
431 on the
NASDAQ.
The SPY MFC green
line is below
the upper zone and is pointed down at 23, short-term bearish.
Uptrend
sectors: XLY,
Neutral
sectors: XLF, XLV, XLI, XLK, XLE, XLB,
Down
trend sectors: XLP, XLRE, XLU,
Intermediate-term trending stocks: Many of these stocks have had significant
pull backs over the past month and it is appropriate to wait for the uptrend
to resume before considering entry… CBOE, IBKR, ADBE, ANET, TAL, EA, EBAY, TTWO,
SHOP, LYV, SQ, RACE, ALGN, ATVI, FB,
FCAU, WB, RNG, AABA, BABA, CCL, RCL, BA, CAT, MAR, V, TRU, WYN, WYNN, PYPL,
NVDA, ISRG, VRSN, AA, WUBA, EDU, CC, MU, A,
3 of 100 NDX stocks closed
higher on Thursday.
7
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 15
ADBE, ATVI, CHTR, EXPE,
GILD, IDXX, MDLZ, MXIM, NVDA, PCLN, STX, SWKS, TSLA, WDAY, WYNN
The
intermediate and long-term trends are still up. The two-month trend is sideways. The six-day trend is down.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market Trend: Down
2 comments:
I got a little nervous when I read the headline "Fed Shutdown..." then I realized you meant federal government - so no big deal. My first reaction was Federal Reserve, and that would have really been a crisis!
John D.... you made me smile. I froze with a gaping mouth, this week also... hahaha. Glad I can still laugh, (Thanks to DJ's training these last few years!!)
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