SPY falls to channel support.
DIA pulls back in bull flag pattern.
QQQ continues as a MACD bullish divergence setup.
IWM falls to short-term support, similar low.
Ten sectors were lower, led by healthcare XLV -1.29% and
real estate XLV -1.81%.
SPY down 2.22 at 240.55 on 66.1 million shares, 1% below average.
VIX up 1.47 to 12.54.
Oil down .28 to 45.33
TLT down 1.03 at 123.46…on
10.8 million shares, 40% above average.
DD +0.46% and WMT +0.20% on
the DJIA. Decliners led by GE and INTC.
OKE +3.65%, UAL
+1.53% and
LNC +1.00% led the SPX.
MNST +1.66%, AAL +1.54%, AVGO +1.48% and
PCAR +1.22% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up:
Down:
DIA, QQQ, SPY, IWM
Uptrend
sectors: XLF, XLV,
XLI, XLB, XLY, XLRE,
Neutral
sectors: XLP, XLK, XLU,
Down
trend sectors: XLE
Breadth weakened as decliners led 2,376 to 559 on the
NYSE and led 2,160 to 650 on the NASDAQ.
The SPY MFC green
line is pointed
down at 63,
defensive.
Look for
a potential bounce in: DIA, HUN, EXPE, BBY,
MMM, MCD, FB, WYNN, JD, KWEB, WYN, BBRY, WMT, CCL, ADSK, SQ, SHOP,
At
support: TLT, IWM, QQQ, COST, AMAT, ADBE,
RACE, MAR, ANET, WDC, ATVI, AMZN, XLNX, V, SPY, XLY, EA, AAPL, NVDA, GOOGL, NFLX,
KLAC, MCHP, RCL,
One Day
Pullback: C, ETFC, BIDU, BAC, CC, BABA, MU,
PYPL, AABA,
Bounces included:
MNST, AVGO, LRCX, SWKS,
Potential
Breakouts include: MS, BA, MOMO, CSX, AMD, SCHW, TAL, BABA, WFC,
BA
Breakouts:
Break of
short-term support: TSLA, DDD,
Bear flag:
WB,
New Highs: CSX,
13 of 100 NDX stocks closed
higher and one was unchanged on Thursday.
28
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 5
BIDU, BMRN, CERN, CTSH, HOLX,
INCY,
The
intermediate and long-term trends are still up.
6-month Intermediate Term Market
Trend: Up
3-day Short Term Market
Trend: Down
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