© 2018
SPY open slightly lower after weekly jobless
claims and Q1 revised GDP missed estimates slightly. After trading in a range for about an hour,
buyers stepped and the SPY started
to rise finally finishing near Monday’s closing level.
QQQ and IWM are
in a bull flag price pattern.
Other bull flags include: AMD, AMZN, BBY, CRM, CTRP, EA,
FB, HD, TWTR.
The DJIA, closed up 98 points at 24,216, led by strength in BA, GS, IBM, V and JPM.
Eight sectors were higher on Thursday, led by technology XLK +1.22% and real estate XLRE +0.99%.
SPY up 1.54 at 270.89, on 76.6 million shares,
4% above average volume. Up on lower volume
VIX down 1.06 at 16.85
Oil up .98 at 73.28
TLT up .03 at 122.14 on 7.1 million shares.
VZ +3.14%, IBM
+1.86%, led the DJIA, 25 advancers.
MKC +8.40%, ACN
+5.90% and
SCG +4.65%, led the SPX.
SHPG +4.43%, MELI
+4.01%, TTWO +3.60%,
and ATVI +3.53%, led
the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is sideways.
Up: QQQ, SPY, DIA, IWM
Down:
Breadth strengthened
on Thursday, as advancers led 1,758
to 1,147 on
the NYSE and led 1,551 to
1,347 on the
NASDAQ
The SPY MFC green
line is pointed
down at 42,
short-term
bearish.
Uptrend
sectors: XLY,
XLK, XLRE, XLE, XLV, XLU,
Neutral
sectors: XLF, XLI, XLB, XLP
Down
trend sectors:
Intermediate-term trending stocks:
RACE, ADBE,
IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA,
WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL
BA, MU,
MAR, CMA, CME, ANET, HRS, KORS,
DLTR, WB,
TPR,
74 of 100
NDX stocks closed higher on Thursday.
35 NDX stocks are above their 30
DMA. COST, FB,
NFLX, FOXA, ALGN, EA, AMGN, KHC,
REGN, ROST, TSLA, CHTR, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, CTSH, ALXN, ISRG, ADP, AMZN, ATVI, CHKP, CMCSA, CTRP, GILD, IDXX, INTU, PAYX,
SHPG, TTWO,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 12
ADP, AMZN, ATVI, CHKP, CMCSA,
CTRP, GILD, IDXX, INTU, PAYX, SHPG, TTWO,
Moving Below 30 DMA = 2
ESRX, WBA
The
6-month intermediate and long-term trends are still up. The three-month trend
is sideways. The ten-day trend is down.
3-month Intermediate Term
Market Trend: Sideways
3-day Short Term Market Trend: Sideways
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