Friday, November 9, 2018

SPY, DIA, QQQ Form Bull Flag as Stocks Pullback for a Second Day...




© 2018


The DJIA, closed down 201 points at 25,989led by weakness in GS, CAT, AAPL, MMM and MSFT.  This is the eighth close above 25,000 in eighth days.

Three of eleven sectors were higher on Friday, led by staples XLP +0.58% and utilities XLU +0.15%.

SPY down 2.74 at 277.76 on 98.8 million shares, 18% below average volume. Down on higher volume.
VIX up .64 at 17.36 


DIS +1.72%, PG +1.15%, led the DJIA, 11 advancers, -9.
CL +4.76%, GCI +3.88%and NRG +3.49%, led the SPX.
MNST +4.99%, QRTEA +3.59%, KHC +1.28%, and PEP +1.22% led the NDX.

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

Up: 
Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Friday, as decliners led 1,971 to 915 on the NYSE and led 2,325 to 737 on the NASDAQ

The SPY MFC green line is pointed up at 53 and is bullish.

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


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

3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market TrendUp


16 of 100 NDX stocks closed higher on Friday.

57 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, ROST, CMCSA, DLTR, ESRX, EXPE, INTC, QRTEA, SHPG, CHTR, COST, MELI, TMUS, AAL, ADI, BKNG, FOXA, INCY, LRCX, MDLZ, NTES, SIRI, ULTA, MNST, NXPI, PYPL, SYMC, CSCO, FAST, HOLX, KLAC, MCHP, MYL, VRSK, WDAY, ADP, AVGO, CSX, CTXS, FISV, HSIC, ILMN, INTU, ISRG, MSFT, MXIM, ORLY, PAYX, SNPS, VRTX, XRAY, CHKP,


NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
CHKP,

Moving Below 30 DMA = 5
ADSK, ALXN, AMAT, HAS, STX,

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