December Retail Sales -1.2%, Lower Open...IWM, QQQ Close Higher...NVDA Gaps up in After-hours...

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After the Dec Retail Sales report of -1.2% was released at 8:30 am ET, /ES futures fell 23 points.  After the market opened the SPX fell another 12 points before selling exhausted.  After a 15 point rally, concerns surfaced about trade talk progress and Fed Gov Brainard’s comments that downside risk to the economy had increased.  The SPX sold off another 11 points:  After a rally and late selloff the SPX -7.30 closed down forming a spinning top on Thursday.

• NFLX +7.30, finished near resistance in an ascending triangle, an HBO setup,
• MRO, EQIX, IQV, ZBRA, VMC and AGIO each gained more than 6% following a positive earnings reaction,
• NVDA +5.32%, rose on its earnings reaction in after-hours trading, when a drop in revenue wasn’t worse than the $2.21 billion reported.

The DJIA, closed down 103 points at 25,439, led by weakness in KO, MMM, GS, TRV and IBM. 

Five of eleven sectors were higher on Thursday, led by real estate XLRE +0.38% and communications services XLC +0.37%.

SPY down .61 at 274.38 on 83.1 million shares, 6% below average volume. Down on higher volume.

VIX up .57 at 16.22

Oil up .52 at 54.47

TLT up .69 at 121.79 on 5.8 million shares. 

CSCO +1.89%, MCD +0.99%, led the DJIA, 11 advancers, -12

MRO +8.75%, EQIX +7.32% and IQV +7.06%, led the SPX.
EA +2.93%, INCY +2.91%, NFLX +2.08%, and TMUS +2.07% led the NDX.

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

Up: IWM, QQQ,

Down: SPY, DIA

Breadth weakened on Thursday, as advancers led 1,544 to 1,320 on the NYSE and decliners led 1,515 to 1,512 on the NASDAQ

The SPY MFC green line is in the upper zone at 95 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI,

Neutral sectors:  XLU, XLK, XLY, XLV, XLP, XLB, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

53 of 100 NDX stocks closed higher on Thursday.

88 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, MSFT, EA, COST, HSIC, VRTX, WBA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 2

AMZN, BMRN,  

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