More to follow…
© 2018
SPY, DIA and QQQ continued in a narrow trading range (aka the grinder) on Thursday
as volatility, VIX drifted lower but
remained above 20 at the close. QQQ, SPY
and DIA are still channel bounce
setups waiting for buying pressure.
The DJIA, closed up 70 points at 24,597, led by strength in MCD, PG,
MMM, AAPL and UNH. This is the sixth close
below 25,000 since Nov 27.
Six of eleven sectors were higher on Thursday, led by utilities XLU +0.87% and staples XLP +0.62%.
SPY down .09 at 265.37 on 96.6 million
shares, 11% below average volume. Flat on similar volume.
VIX down .81 at 20.65
Oil up 1.65 at 52.85
TLT down .28 at 118.07 on 5.5 million shares.
PG +2.62%, MCD +1.61%, led the DJIA, 17 advancers, -7
GE +7.30%, AFL +6.64% and KMB +3.93%, led the SPX.
JD +3.75%, TSLA +2.78%, NTES +2.53%, and SHPG +2.44% led the NDX.
Long term up
trend intact. 3-day short term trend is up.
Up: DIA, QQQ,
Down: SPY,
IWM
Breadth weakened
on Thursday, as decliners led 1,879 to 1,036 on the NYSE
and led 2,281 to 767 on the NASDAQ
The SPY
MFC green line is turned down at 25 and is short-term bearish.
Uptrend sectors: XLRE, XLU, XLV, XLP,
Neutral sectors:
XLI, XLB, XLY, XLC, XLK,
Down trend sectors: XLF,
XLE,
The 6-month intermediate
trend is sideways. The ten-day trend is sideways.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Up
33 of 100 NDX stocks closed higher on Thursday.
39
NDX stocks are above their 30
DMA. SBUX, TSLA, PEP, XLNX, FOXA, MDLZ, SYMC,
CTXS, XRAY, MXIM, NTES, HOLX, VOD, WDAY, ADP, CSCO, ILMN, SIRI, VRTX, REGN,
ADBE, ADI, AMGN, AMZN, AVGO, MSFT, PYPL, FB, WBA, GOOGL, INCY, INTC, ORLY,
QCOM, WYNN,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
DLTR, ESRX, JD, SHPG,
Moving Below 30 DMA = 11
ADSK, BIIB, CTRP, EBAY, EXPE, ISRG,
MCHP, MELI, MNST, PAYX, SNPS,
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