©
2020
NDX +20.65, +0.19%, bull flag bounce continuation.
SPX -6.92, -0.20%, opened
lower and closed lower at 3,373.43, pausing at the resistance
of its all-time high on Feb 19.
The SPX hit 3,387.24
intraday on Thursday, six points below its February 19 all-time intraday high
of 3,393.52. The SPX
closed today at 3,373.43 less than thirteen
points below its February 19 closing high of 3,386.15.
Two of
eleven
sectors were higher on Thursday, led by XLC,
XLK and XLU.
Communication Services leaders: FOXA, DISH, TTWO, VIAC
Technology leaders: PAYX, KEYS, TYL, ADSK
Basic Materials leaders: CTVA, NEM, BLL, APD
SPY down .61 at 336.83 on 41.6
million shares, below average volume, down on lower volume.
VIX down .15 at 22.13
AAPL, NKE, MRK led the DJIA, 10 advancers, -12
FOSL, PAYC, KEYS, AES led the SPX, 177 advancers
ZM, TSLA, MELI, DOCU led the NDX, 48 advancers
The two-year trend term is up. The one-year trend is up.
Up: QQQ,
Down: SPY, IWM, DIA,
Breadth weakened on Thursday
as decliners led 1,747 to 1,246 on the NYSE and led 1,862 to 1,495 on the NASDAQ
The SPX MFC green line is sloped down at 95.7 and is short-term bullish. Price action is a pause at resistance of all-time high.
Uptrend sectors: XLI, XLP, XLB, XLY, XLK, XLC, XLV,
Neutral sectors: XLU, XLRE, 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 Trend: Up a little
48 of 100 NDX stocks
closed higher on Thursday.
67 NDX stocks are above their 30
DMA: AMZN, CDNS, IDXX, NVDA, SWKS, AAPL, FAST, MELI,
PYPL, MXIM, LRCX, TTWO, AMGN, VRSK,
XLNX, CHKP, COST, MNST, CHTR, CMCSA, CTSH, KHC, PCAR, AMD, CTAS, ISRG, LULU,
ORLY, XEL, CPRT, CSX, TCOM, SIRI, AMAT, BIIB, QCOM. ROST, SBUX, KLAC, AVGO, FB,
MSFT, NXPI, TMUS, DLTR, TXN, BIDU, ALGN, BKNG, ULTA, MAR, PAYX, WBA, CERN,
EXPE, ADBE, ADI, ANSS, ATVI, DXCM, EA, INTU, MSFT, NTES, PEP, TSLA, FOXA,
GOOGL, VRSN,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
FOXA, GOOGL, VRSN,
Moving Below 30 DMA = 4
CDW, CSCO, EXC, JD,
WBA,
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2 comments:
Dave Johnson is a fraud
Me and two of my trading partners used to be Daves students at Investools. We learned a lot from him. When he started ibuklybear we followed him and executed his trades as we trusted him. Our mistake. When Dave went on his own he stopped following his own rules. We lost a lot of money. Do not get fooled by him unless you want to gamble casino style
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