Eight of nine sectors moved higher
on Thursday…XLV, XLE and XLI were the strongest sectors while XLU was the weakest sector.
Breadth
strengthened as decliners
led advancers 1.01 to 1 on the NYSE and strengthened 1.15 to 1 on the NASDAQ where advancers led decliners.
Thursday –
mixed, mixed
Wednesday
– mixed, decliners led
Tuesday – strengthened, decliners led
Monday
– weakened, decliners led
Friday
– strengthened, advancers led
SPY up .53 at
205.87 on 114.2 million shares
VIX
down .27 at
19.34…
TNX up .31 at 22.39…
TLT up .16 at 121.84…on 5.4 million shares
XLF up .02 at 23.98…on 47.2 million shares
AAPL up
.55 at 116.17 on 28.9 million shares
FB up .82 at 105.42 on 17.3 million
shares
Technical Commentary:
DIA +0.51%, QQQ +0.45%, IWM
+0.33%, SPY +0.26%.
Trade with the trend of the chart you are
trading and continue to move your profit protection stops. Continue
to follow your rules.
The SPX MFC green line is down at 48.
Short-term Chart Targets:
SPY =...209.976…
QQQ = 115.47…
IWM = 117.93…
Support Levels
SPY
= 204.75
QQQ
= 111.84
IWM
= 113.36
__________________
Setups
Horizontal Breakout: EXPE, INTC,
TRIP,
Diagonal Breakout: CCL, RCL,
SEDG, SOHU, SONC (long term), VXX, YNDX, FB, ILMN, SBUX,
Bull Flag: CRUS, GOGO, KWEB,
NTES, PANW, VRSN, ADBE, ADSK, ATVI, AVGO, GOOGL, JD, MNST, MSFT, NFLX, NVDA
At Support: C, FAS, MS, BIDU
Moves
H Breakout: W
Bull Flag Bounce: CSIQ, DAL, QRVO,
SCHW, SLCA, STI, YELP, MYL, TSLA,
MACD Divergence Bounce:
Bounce: IWM, QQQ, AA, AMBA, LNKD, NCLH,
ZION, AAPL, CMCSA, COST, EBAY, LRCX,
Gap Up:
Gap Down: CIEN, FSLR
Support Break: JNPR, SINA, SPWR,
______________________
69 of 100 NDX stocks closed higher
on Thursday.
41 NDX stocks are
above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving
Above 30 DMA
= 7
AAL, AMGN, CA, COST, SBUX, SNDK, STX
Moving Below 30 DMA = 2
BIDU, HSIC
6-month Intermediate Term Market Trend:
Neutral
3-day Short Term Market Trend: Down
1 comment:
Dave,
Hope all is well with you and your family. I sure miss your live coaching and especially the time you sacrifice mentoring so many students. But when you lose most of your retirement and children's savings to the market you have to know when to say "when"! Didn't know if you were aware that Dwight Anderson had a blog going again so I thought I'd pass it on here for some of the old timers and newcomers alike. I hope you don't mind, but I know you had respect for him when you worked together and last I knew were still friends. I'm going to sit down and gather my thoughts for a lengthy email to you and I hope you take the time to read it. I think it's important for students to know the challenges they face in the market and it's not as easy as the sales team makes it out to be. I won't go on here so here's the link: http://dwightanderson.blogspot.com/
Take care my friend,
Gary
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