Bull Flag Day 5 DIA, SPY...

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SPY and DIA remained in bull flag price pattern while QQQ and IWM also in bull flag patterns formed larger red candles.  MU, TWTR, NVDA, AMZN, FB and ADSK continued to fall sharply on Thursday.  Other tech stocks NFLX, SQ, ADBE, NTAP, CRM and MSFT rallied from Wednesday’s sharp pullback.  

COST, DG, PAYX, UNH and AET hit new highs on Thursday. 

Five sectors were higher on Thursday, led by utilities XLU +0.57% and industrials XLI +0.31%.

The DJIA, closed up 20 points at 25,995 led by strength in BA, UNH, V and HD.  This is the thirtieth ninth consecutive close above 25,000 since June 15.

SPY down .87 at 288.16, on 65.8 million shares, 11% above average volume. Down on lower volume.

VIX up .74 at 14.65 

Oil down .85 at 67.89

TLT up .44 at 120.15 on 9.5 million shares. 

BA +1.32%, V +1.28%, led the DJIA, 17 advancers, -2.

FOSL +4.29%, GIS +3.21% and CBS +3.15%, led the SPX.

CTRP +5.44%, JD +3.61%, WDAY +1.62%, and NFLX +1.55%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down, bull flag pattern.

Up: DIA,

Down: SPY, IWM, QQQ,

Breadth weakened on Thursday, as decliners led 1,707 to 1,161 on the NYSE and led 1,961 to 985 on the NASDAQ

The SPY MFC green line is in the upper zone at 82 bullish. 

Uptrend sectors:  XLU, XLV, XLY, XLK, XLRE, XLP, XLI, XLF,

Neutral sectors: XLE, XLB,

Down trend sectors:

The 6-month intermediate and long-term trends are still up.  The three-month trend is now up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

38 of 100 NDX stocks closed higher on Thursday.

56 NDX stocks are above their 30 DMA.  COST, AMGN, ISRG, AMZN, CHKP, CA, CTAS, ORLY, CTXS, FAST, AAPL, QCOM, PCAR, ROST, XLNX, CSX, CERN, SBUX, CMCSA, ILMN, VRSK, SNPS, CSCO, PAYX, TMUS, WDAY, DISH, FISV, ADP, TTWO, ESRX, MYL, INCY, REGN, ADSK, CDNS, NVDA, ADBE, ADI, MSFT, PYPL, INTU, ALGN, CHTR, VRTX, SIRI, SYMC, AVGO, MNST, ULTA, MAR, MDLZ, HAS, HSIC, WBA, FOXA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

FOXA,

Moving Below 30 DMA = 6

AAL, BIIB, CELG, EBAY, IDXX, KLAC,

Intermediate-term trending stocks: 

ADBE, COST, DG, AAPL, AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN, CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC, EL, CME, KORS, A, WUBA,

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