After the Close Review of the Weekly
and Friday’s action… SPY, IWM, QQQ, DIA,
weekly charts and bullish candles, VIX,
XLK, XLB, XLE, XLF, XLI, XLP, XLU, XLV, XLRE, XLY, weekly gainers,
breakouts, SIG, DLTR, ADSK, HPQ, BBY,
AA, TSCO, WDC, FCX, XLNX, TRIP, IRM, EXPE, bull flags, ATVI, DLTR, MNST, AXP, PG, V
© 2017
Nine sectors were higher, led by real estate XLRE +0.49% and
industrials XLE +0.48%.
SPY up .57 at 244.56 on 50.7 million shares, 2% above average. Up on higher
volume.
VIX down .95 at 11.28.
Oil up .24 to 47.86
TLT up .49 at 127.32…on
7.3 million shares, 7% above avg. Up on higher volume.
HD +0.94%, and DIS +0.88%, led
the DJIA, 24 advancers.
FOSL +2.11%, LUV
+3.88% and
SIG +3.53% led the SPX.
AAL +5.43%, ADSK +3.94%, TSCO +3.28%, and ORLY +2.97%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up:
IWM, SPY, DIA
Down:
QQQ
Breadth strengthened
on Friday as
advancers led 1,930 to 923 on the
NYSE and led 1,760 to 1,070 on the
NASDAQ.
The SPY MFC green
line turned up at 38,
bullish.
Uptrend
sectors: XLU,
Neutral
sectors: XLK, XLP, XLF, XLY, XLRE, XLV,
XLB, XLI
Down
trend sectors: XLE
Intermediate-term trending stocks: PYPL, ADBE, NVDA, FB, ATVI, EA, BA, MCD, V,
CCL, RCL, ALGN, ANET, SQ, CC, AABA, TTWO, PGR, TRU, LYV, ALL, TAL, BABA, A,
EDU, SHOP, EXPE,
49 of 100 NDX stocks closed
higher and two were unchanged on Friday.
37
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 5
INTU, LBTYA, MSFT, ORLY, PAYX,
Moving Below 30 DMA = 6
ADI, AVGO, FB, MXIM, NVDA, VRTX
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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6 comments:
I can't thank you enough!!!
Thanks Dave for doing this.
On Friday the Transportation stocks were up. Is the ITY showing a piercing line pattern since it did close above the mid of the red candle. Does this look like a dead cat bounce or do you see instutions moving back into a beaten down sector?
Most of the airline stocks are in a CAHOLD and AAL LUV were the biggest gainers.
Appreicate your comments
Phil...you're welcome...have a great weekend...DJ
Nirmala...IYT is in a 9-month sideways trend at support that has bounced from the 163 area seven times already. Buyers appeared at the level for the eighth time on Friday. One day does not a trend make, therefore one can not conclude that institutions have done more than buy on Friday. If they do continue to buy Monday, will they take it past 166, Tuesday's high? Next week will let us know the answer. In general, buyers typically buy at support in a sideways trend. That is what appears happened on Friday. DJ
Dear Dave,
Thank you for teaching me how to trade. I still have a copy of your rules from 2009( I am a great trader etc) the first workshop I attended 2/2009 in NYC.
Thank you for all the BGOs. I have them written down on my computer screen.
I've enjoyed your trading rooms, your patient explaining of concepts and insights and how to think.
Looking forward to your blog.
Yours truly, Sally Pezza
Sally...you're welcome...I'm glad you realized the value of the rules and BGOs and kept...that's clearly to your benefit...continued success...Dave
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