Wednesday, May 8, 2019

Trade/Tariff Uncertainty Continues as Stocks Find Temporary Support...DIS, ROKU Gain After-hours on Positive EPS Reaction...


© 2019

The DJIA, closed up 2 points at 25,967led by strength in BA, UTX, DIS, UNH and UNH.  Closing below 26,000 for the second day after trading above for the previous twenty-five trading days. 

Two of eleven sectors were higher and three unchanged on Wednesday, led by healthcare XLV +0.21% and discretionary XLY +0.03%.

SPY down .40 at 287.53 on 91.5 million shares, 40% above average volume. Down on lower volume.
VIX up .08 at 19.40


UTX +1.20%, DIS +1.16%, led the DJIA, 15 advancers, +15


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

Up: DIA,
Down: SPY, QQQ, IWM

Breadth strengthened on Wednesday, as decliners led 1,518 to 1,299 on the NYSE and led 1,660 to 1,375 on the NASDAQ

The SPY MFC green line moved below the upper zone and is pointed down at 75.  Short-term defensive in an intermediate-term up trend. 

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

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

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


42 of 100 NDX stocks closed higher on Wednesday.

47 NDX stocks are above their 30 DMA:  CDNS, PYPL, VRSN, SNPS, MDLZ, PAYX, CSX, VRSK, CHKP, CMCSA, AAPL, PEP, MSFT, AMZN, SBUX, NTES, ALGN, ADBE, ILMN, LULU, MAR, ASML, CELG, CERN, FB, HSIC, LRCX, ADSK, CTAS, NXPI, WYNN, AAL, CHTR, TMUS, HAS, QCOM, INTU, IDXX, MNST, WDAY, EBAY, XRAY, TTWO, GILD, INCY, ILMN, MELI,

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


Moving Below 30 DMA = 6
ADI, MCHP, MXIM, NFLX, TXN, UAL,


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