Stocks Gyrate on Thursday as Oil, Energy stocks, UTX, MMM, CAT and BA Rise...

After the Close Review of Thursday’s market action…$INDU, HBO setups UTX, MMM, CAT, BA, HD, MCD, DIA, SPY, QQQ, IWM, bull flag setups CSCO, NKE, JPM, V, NVDA, X, COST, NFLX, ADBE, PYPL, AMZN, TLT, $VIX, secular bull market for years …10:00 pm PST

© 2018

  

The DJIA rose 164 points to 24,962 was led by strength in UTX, MMM, CAT, BA, HD, and MCD. 

Eight sectors were higher on Thursday, led by real estate XLRE +1.14%, and energy XLE +1.10%.

SPY up .35 at 270.40 on 110.5 million shares, 18% below average volume.  Up on higher volume.

VIX down 1.30 at 18.72

Oil up 1.31 to 62.65

TLT up .35 at 117.09 on 9.3 million shares, 28% below average volume.  Up on lower volume.

UTX +3.34%, and CAT +2.34%, led the DJIA, 19 advancers.

CHK +21.67%, SCG +10.03%, and SWN +5.43%, led the SPX.

TSLA +3.86%, ALGN +2.99%, PCAR +1.70%, FISV +1.66% and DISH +1.60% led the NDX.

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

Up: DIA, SPY,

Down: QQQ, IWM,

Breadth was mixed on Thursday, as advancers led 1,525 to 1,387 on the NYSE and decliners led 1,678 to 1,184 on the NASDAQ.

The SPY MFC green line turned at 55, bullish. 

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… IBKR, ADBE, TAL, EA, EBAY, SHOP, LYV, SQ, RACE, BA, NVDA, VRSN, ATVI, WB, RNG, CCL, RCL, V, TRU, WYN, PYPL, A, CAT, MAR, AABA, BABA, FCAU, ALGN,  FB, ANET, CBOE, TTWO, WYNN, ISRG, AA, WUBA, EDU, CC, MU,

47 of 100 NDX stocks closed higher on Thursday.

36 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2                            

ALGN, TSLA,

Moving Below 30 DMA = 4

ASML, ATVI, MAR, STX,

The intermediate and long-term trends are still up.  The two-month trend is sideways.  The seven-day trend is up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

Add Comments here