Eight of nine sectors moved higher on Thursday …XLU, XLP and XLV were the strongest
sectors while XLE was the weakest sector. Oil futures fell for the sixth
straight day 1.50 to close at 45.99.
Breadth weakened as decliners led 1,534 to 1,474 on
the NYSE and led 1,373 to 1,366 on the NASDAQ.
Thursday
– weakened, decliners led, +8
Wednesday – strengthened, advancers led, +4
Tuesday –
strengthened, decliners led, +5
Monday – strengthened, decliners led, +0
Friday – weakened, decliners led, +1
SPY up
.52 at 208.37 on 149.5 million shares, 82% above average volume
VIX down .77
at 19.37
TLT up
.66 at 136.46…on 10.3 million shares, 55% above average volume
Technical Commentary:
DIA +0.50%, SPY +0.30%, QQQ +0.30%, IWM -0.01%,
Technical analysis based trades should be closed before earnings.
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: SWN, STLD,
AKS, HPE, LB, XRX, SCHW, RRC, CVX, TMUS, INCY, MU, SPY, IWM, AVGO, MXIM, AMZN,
QQQ, CAT, AMAT, CTXS, PCLN, ESRX, TXN, WDC, DISH, STX, SCHN, NXPI, ULTA, VRTX, KO,
Bull Flag Bounces include: VIAB, MYL, NUE, WMB, MAT,
WRK, PAYX, MRK, PCLN, UNH, CMCSA, DD, EA, MNST
Horizontal Breakout Setups include: X, VIAB, AMD, DLTR, MRK, NVDA,
GPS, XOM, MCD, WYNN, KHC, FISV, DPS, NEM
______________________
Remember: “It’s
a market of stocks, not just a stock market.”
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
The SPY MFC green line is pointed down at 59, time to be defensive
73 of 100
NDX stocks closed higher on Thursday.
61
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
FOXA, NFLX, SBUX, TMUS
Moving Below 30 DMA = 3
CHKP, EBAY, GOOG
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Neutral
No comments:
Post a Comment