© 2019
SPY, DIA, QQQ, IWM Find support in pullback
as trade uncertainty continues in Rally Week 21…
(click
image to enlarge)
The DJIA, closed down 98 points at 25,764, led by weakness in CAT, MMM, GS, IBM and UTX.
Closing below 26,000 for the ninth day after trading above
26,000 for the previous twenty-five trading days.
Ten of eleven sectors were lower on Friday, led by utilities XLU +0.51% and real estate XLRE -0.14%.
SPY down 1.86 at 285.84 on 100.3 million shares, 37% above average volume. Down on higher volume.
VIX up .67 at 15.96
Oil down .27 at 62.87
TLT up .28 at 125.99 on 4.7 million shares.
UNH +1.94%, VZ +1.24%, led the DJIA, 10 advancers, -13
UAA +7.77%, HUM +2.31% and NKTR
+2.17%, led the SPX.
AMAT +2.50%, FOXA +1.58%, ROST +1.38% and CTSH +1.36% led the NDX.
Long term up
trend intact. 3-day short term trend is up.
Up:
Down: DIA,
SPY, QQQ, IWM,
Breadth weakened
on Friday, as decliners led 2,122 to 717 on the NYSE and led 2,194 to 864 on
the NASDAQ
The SPY
MFC green line turned down at 31 and is short-term
bearish.
Uptrend sectors: XLP, 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 Trend: Up
44 NDX stocks are above their 30
DMA: CDNS, MDLZ, PAYX, VRSK, CHKP, CMCSA, PEP, SBUX, NTES,
ALGN, ILMN, CELG, CERN, HSIC, CTAS, WYNN, CHTR, TMUS, HAS, QCOM, INTU,
IDXX, MNST, XRAY, TTWO, INCY, MELI, MSFT, PYPL, VRSN, WDAY, ADBE,
ADSK, BMRN, CELG, COST, EA, FB, SNPS, ADP, CSCO, CSX, GILD, FISV,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 8
AMD, AMZN, ASML, ATVI, JD, LULU,
NTES, PCAR,
2 comments:
Dave....The China Trade uncertainty is weighting on the market but I assume we still need to trade what we see on the chart.
Thanks for your guidance.
Don...yes, trade what you see on the chart you are trading...some China stocks, BABA, BIDU, FXI, CTRP are definitely down trending...DJ
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