The SPX formed a spinning top on Thursday closing down -2.03 at 1,333.51. Interest rates TNX +0.10 rose and bond ETF TLT dropped 18 cents. Financial stocks XLF fell 8 cents. The SPX continues to trade near resistance.
SPX spinning top, close above 30 DMA -0.15%
INDU hanging man, close above 30 DMA, -0.14%
COMPQ spinning top, close above 30 DMA, -0.13%
RUT black candle, continues above horizontal resistance, -0.55%
Breadth turned negative on Thursday as decliners led advancers 1.66 to 1 on the NYSE and 1.77 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 1,130 940
Decliners 1,886 1,667
Index Chg. Close Direction Confirmation
VIX +0.21 17.11 Up Yes – SPX
SOX -2.25 443.25 Down Yes – COMPQ
Leading stocks > +2% on Wednesday included IL, MCP, SINA, NVDA, NTES, SOHU
Losing stocks < -2.0% included RVBD, SWKS, JDSU, VLO,LDK, IPI, CRUS, UNG, URE
SPX
Resistance: 1,330, 1,344
Support: 1,321, 1,311, 1,300
The short term 3 day trend is neutral.
The six-month trend is up.
The twelve-month trend is up.
The six-month trend is up.
The twelve-month trend is up.
Trade with the trend of the chart you are trading.
Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.
Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.
AAPL +0.04 – doji
AMZN +2.15 – white candle
BIDU +1.84 – bullish harami
GOOG +5.82 – white candle
NFLX -6.01 – hammer
QCOM -0.31 – inverted hammer
NDX 100 stocks stronger than the NDX include BBBY, COST, NVDA, CTRP, APOL, ISRG, MRVL, BIDU, CTXS, AMZN, WFMI, SNDK, VRTX and GOOG.
Stocks weaker than the NDX include LRCX, KLAC, CERN, NFLX, ATVI, NIHD, SRCL, ILMN, LIFE, AMAT, NWSA, SBUX, FLIR and ROST.
Stocks to Watch on Friday
Holding Above 30 DMA
HUM, GMCR, CDE, HLF, HAS, SINA, SWN, UCO, CAT, CSTR, WDC, IAG, SLW, SWK, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, ANF, DECK, DLR, FWLT, JEC, URE, CF, CRM, LVS, POT, TIF, V, AGU, ESI, CHL, FAS, NDAQ, NYX, ZION, SNDK, CIEN, SMH, GS, STI, TBT
HUM, GMCR, CDE, HLF, HAS, SINA, SWN, UCO, CAT, CSTR, WDC, IAG, SLW, SWK, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, ANF, DECK, DLR, FWLT, JEC, URE, CF, CRM, LVS, POT, TIF, V, AGU, ESI, CHL, FAS, NDAQ, NYX, ZION, SNDK, CIEN, SMH, GS, STI, TBT
Moving Above 30 DMA = 1
IL
Moving Below 30 DMA = 2
ATW, MOS
Staying Below 30 DMA
ARUN, IPI, TLT, UNG, X, VMW, FAZ, AMD, ICE, CAM, RVBD, JNPR, BAC, GLW, JDSU, CRUS, SWKS, GES, MHS, LDK, NVDA, UAL
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
Short Term Market Trend: Neutral
3 comments:
Dave,
THANK YOU for all your time, effort and guidance. Your teaching and mentoring is more than anyone could ever expect, thank you, thank you, thank you. I learn something from every capstone/trading room you do. I/we are better traders because of your patience and efforts and fortunate to have such a generous man willing to mentor us.
Gary E
Colorado Springs
Dave:
I second Gary's comments.
Thanks much
Robert
CANI_212
Dave,
And I third!
Thank you!
Kathy :)
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