SPY Makes New Low...

© 2018

New low on higher volume in SPY, potential capitulation bottom. 

The DJIA, closed down 464 points at 22,859, led by weakness in UNH, BA, MCD, UTX and AAPL.  This is the eleventh close below 25,000 since Dec 6.

All eleven sectors were lower on Thursday.

SPY down 4.09 at 247.17 on 252.0 million shares, 106% above average volume. Down on higher volume.

VIX up 2.80 at 28.38 

Oil down 1.19 at 46.22

TLT down .44 at 120.74 on 18.5 million shares. 

JNJ +0.52%, PFE -0.05%, led the DJIA, 1 advancer, -0

NEM +6.23%, ABBV +2.22% and PPL +1.66%, led the SPX.

VRTX +1.66%, ATVI +1.55%, SHPG +1.47%, and STX +1.11% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up: 

Down: QQQ, SPY, IWM, DIA

Breadth weakened on Thursday, as decliners led 2,431 to 570 on the NYSE and led 2,401 to 697 on the NASDAQ

The SPY MFC green line is turned down at 6 and is short-term bearish.

Uptrend sectors:   XLU,

Neutral sectors:  XLRE, XLV, XLP, XLB,

Down trend sectors: XLI, XLY, XLC, XLK, XLF, XLE,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

17 of 100 NDX stocks closed higher on Thursday.

5 NDX stocks are above their 30 DMA.  NTES, WDAY, AVGO, QCOM, VOD,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

VOD,

Moving Below 30 DMA = 2

DLTR, REGN,

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