Wednesday, May 22, 2019

Gap Down, Range Day...FOMC Minutes...


© 2019


The DJIA, closed down 100 points at 25,776led by weakness in BA, AAPL, GS, HD and CAT.  Closing below 26,000 for the twelfth day after trading above 26,000 for the previous twenty-five trading days. 

Four of eleven sectors were higher on Wednesday, led by utilities XLU +0.75% and healthcare XLV +0.57%.

SPY down .88 at 285.63 on 49.4 million shares, 31% below average volume. Down on higher volume.
VIX down .20 at 14.75
Oil down 1.65 at 61.32
TLT up .72 at 126.25 on 5.6 million shares. 

KO +2.16%, MRK +1.86%, led the DJIA, 12 advancers, -13
TGT +7.78%, AAP +3.09% and TWTR +2.96%, led the SPX.
REGN +3.27%, HAS +2.12%, ILMN +2.08% and VRTX +1.92% led the NDX.

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

Up:
Down: SPY, QQQ, DIA, IWM

Breadth weakened on Wednesday, as decliners led 1,804 to 1,074 on the NYSE and led 1,991 to 1,035 on the NASDAQ

The SPY MFC green line is pointed up at 40 and is short-term bullish

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

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

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


39 of 100 NDX stocks closed higher on Wednesday.

44 NDX stocks are above their 30 DMA:  MDLZ, PAYX, VRSK, CHKP, CMCSA, PEP, SBUX, NTES, ALGN, ILMN, CELG, CERN, HSIC, CTAS, WYNN, CHTR, TMUS, HAS, INTU, IDXX, MNST, XRAY, TTWO, INCY, MELI, MSFT, PYPL, VRSN, WDAY, BMRN, CELG, COST, ADP, CSCO, GILD, FISV, BIIB, LULU, ULTA, ADBE, ADSK, INCY, SBUX, WLTW,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0

Moving Below 30 DMA = 5
CSX, EA, FOXA, PCAR, ROST,


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1 comment:

Devoir said...

it will be interesting to see how big of a pullback we can get ..... wanting to reload.