Friday, October 26, 2018

AMZN, GOOGL Lead SPX, NDX Back to Wednesday's Support...

© 2018

Earnings season continued on Friday. Positive reactions included ROP, COG, CINF, RMD, and CMGNegative reactions: AMZN, GOOGL, MHK, WDC, SIVB, FBHS, CERN, LEG, DLR, MCO

The DJIA, closed down 296 points at 24,688led by weakness in HD, UNH, BA, AAPL and V.  This is the third close below 25,000 since July 12.

The SPY gave back all of Thursday’s gain closing just one cent above Wednesday’s close.

All eleven sectors were lower on Friday, strongest were materials XLB -0.59% and energy XLE -0.75%.

SPY down 4.76 at 265.33, on 201.5 million shares, 84% above average volume. Down on higher volume.
VIX up 1.45 at 25.67 
Oil up .64 at 67.62
TLT up .69 at 114.99 on 18.5 million shares. 

INTC +3.11%, WBA +0.65%, led the DJIA, 4 advancers, -19.
ROP +7.55%, COG +7.10% and CINF +6.62%, led the SPX.
TSLA +5.09%, EXPE +2.49%, VRTX +2.34%, and GILD +1.63% led the NDX.

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


Breadth weakened on Friday, as decliners led 2,126 to 789 on the NYSE and led 2,030 to 997 on the NASDAQ

The SPY MFC green line is pointed down at 14 and is short-term bearish.

Uptrend sectors:   XLU, XLP,
Neutral sectors:  XLV, XLRE,
Down trend sectors: XLK, XLY, XLI, XLF, XLE, XLC, XLB,

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

3-month Intermediate Term Market Trend: Down
3-day Short Term Market TrendDown

24 of 100 NDX stocks closed higher on Friday.

8 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, CA, ROST,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2

Moving Below 30 DMA = 4

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Scott Avery said...

I notice Bullish Divergence on the spy from the 10/11 candle to last candle close. But it only shows up on the prophet charts with the hook. On tos charts the macd settings are the same 8,17,9 BUT it sure doesn't look the same. Does anyone know how to get the tos chart settings for the MACD to resemble the same ones in the prophet charts?

Michael Hayes said...

Remember P Charts has dividends but into profit charts
not sure if that is why

Dave Johnson said...

Scott...Both prophet and tos charts are showing the hook...I'm guessing you're not using the same settings on both charts...Dave

Scott Avery said...

Thanks much Dave. I can see the hook now. It just looks so different as in prophet charts none of the histogram is even above the zero line, where as TOS charts have the last 5 bars above the zero line.