Pullback Trading Range Day 3...Real Estate, Staples Lead as Energy Lags...

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SPX closes at 2,977, down -1.47% from Thursday’s 3,021 high.

The DJIA, closed down 79 points at 26,891 led by strength in UNH, CVX, JNJ, DIS and GS.  Closing below 27,000 for the fifth straight day.

Five of eleven sectors were higher on Thursday, led by real estate XLRE +0.97% and staples XLP +0.56%.

SPY down .62 at 297.00 on 58.7 million shares, 14% below average volume.  Down on lower volume.

VIX up .11 at 16.07

Oil down .12 at 56.54

TLT up .91 at 142.38 on 10.7 million shares.

GLD down .04 at 141.79

NKE +1.50%, PG +1.05%, led the DJIA, 12 advancers, -9

CAG +3.68%, WHR +2.98% and ABBV +2.69% led the SPX.

TSLA +6.06%, NTES +3.03%, WDAY +2.62% and ADBE +2.30% led the NDX.

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

Up:  

Down: SPY, DIA, QQQ, IWM,

Breadth weakened on Thursday as decliners led 1,658 to 1,267 on the NYSE and led 2,072 to 971 on the NASDAQ

The SPX MFC green line crossed just below the upper zone and is pointed down at 79.9 and is short-term defensive.

Uptrend sectors: XLU, XLRE, XLP, XLY, XLK, XLC, XLI, XLF, XLB,

Neutral sectors:  XLV, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

40 of 100 NDX stocks closed higher on Thursday.

59 NDX stocks are above their 30 DMA:  SBUX, CELG, KLAC, NTES, PEP, EA, ATVI, CHTR, COST, JBHT, AAPL, SIRI, ASML, LRCX, MU, NVDA, WDC, DLTR, AMAT, CSX, CTXS, INTC, NXPI, TXN, EXPE, FAST, GOOGL, LULU, MCHP, MXIM, NTAP, SWKS, WBA, TMUS, UAL, HAS, KHC, BIIB, CSCO, ILMN, ISRG, WLTW, MSFT, ORLY, SNPS, ALGN,  ROST, XRAY, MDLZ, ADI, CTAS,  PAYX, QCOM, SYMC, ADBE, ADSK, BIDU, CHKP, TSLA, VRSK,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

ADBE, ADSK, BIDU, CHKP, TSLA, VRSK,

Moving Below 30 DMA = 7

AAL, BKNG, CMCSA, HSIC, MNST, MYL, WYNN,

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