Wednesday, March 27, 2019

Stocks Pullback, Hold Support Bull Flag Day 2 as 10-year Yields Hit Yearly Low...


© 2019


The 10-year treasury yield TNX rolled over about 10:30 am and fell to a new one year low over the next one hour.  As it did, the SPY fell -3.50 to a daily low of 277.93, as yields bounced SPY rallied into the close.

The DJIA, closed down 32 points at 25,625led by weakness in UNH, CVX, MSFT, WMT and V. 

One of eleven sectors was higher on Wednesday, led by industrials XLI +0.11% and materials XLB -0.13%.

SPY down 1.47 at 279.65 on 72.2 million shares, 6% below average volume. Down on higher volume.
VIX up .47 at 15.15
Oil down .64 at 59.40
TLT up 1.15 at 126.12 on 14.2 million shares. 

BA +1.03%, TRV +1.01%, led the DJIA, 9 advancers, -16
WCG +12.34%, PHM +5.11% and LEN +3.94%, led the SPX.

CTRP +3.73%, TSLA +2.64%, AAL +2.42%, and DLTR +2.41%, led the NDX.

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

Up:
Down: DIA, IWM, SPY, QQQ

Breadth weakened on Wednesday, as decliners led 1,554 to 1,319 on the NYSE and led 1,745 to 1,292 on the NASDAQ

The SPY MFC green line moved below the upper zone, pointed down at 73 and is short-term defensiveWatch for a second bull flag bounce.

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

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendSideways


25 of 100 NDX stocks closed higher on Wednesday.

59 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, TMUS, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, CHTR, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, INCY, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, LRCX, ALGN, AVGO, ORLY, AMD, EBAY, WDAY, EA, FISV, ADBE, ALXN, FB, CELG, VRTX, FAST,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
FAST,  

Moving Below 30 DMA = 7
ADI, AMAT, AMGN, ASML, ILMN, MAR, TXN,

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