Stocks Volatile Following Indictments...Steel Stocks Up After Tariff Recommendation...QQQ, IWM, SPY, DIA Weekly Winners...

Check out the intermediate term trend on the weekly charts as of Friday.

                          (click to enlarge)

© 2018

The DJIA rose 19 points to 25,219 was led by strength in UNH, JNJ, MMM, HD, WMT and DIS.  The DJIA closed above 25,000 for the twenty-third time this year.

X +14.77%, AKS +13.74%, STLD +4.79%, and NUE +4.51%, gained after the Commerce Department recommend tariffs on steel from other countries. 

Five sectors were higher on Friday, led by utilities XLU +0.89%, and healthcare XLV +0.72%.

SPY up .08 at 273.11 on 160.4 million shares, 21% above average volume.  Up on higher volume.

VIX up .33 at 19.46

Oil up .23 to 61.51

TLT up .64 at 118.71 on 8.4 million shares, 33% below average volume.  Up on higher volume.

PFE +1.54%, and WMT +1.50%, led the DJIA, 19 advancers.

CMG +6.62%, NUE +4.51%, and HII +4.04%, led the SPX.

AMAT +1.93%, HSIC +1.67%, WBA +1.63%, MU +1.63% and FISV +1.62% led the NDX.

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

Up: IWM, DIA, SPY,

Down: QQQ,

Breadth weakened on Friday, as advancers led 1,716 to 1,197 on the NYSE and led 1,641 to 1,228 on the NASDAQ.

The SPY MFC green line turned at 48, 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,

44 of 100 NDX stocks closed higher on Friday.

45 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2                            

CTRP, PCLN,

Moving Below 30 DMA = 6

ASML, GILD, ISRG, KLAC, MAR, MNST,

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

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

Add Comments here