After the Close Review of Friday’s
action…$DJI, DIA, new all-time
closing high, IWM, QQQ, SPY, dividend
declared Friday on SPY, DIA, XLB, XLE,
XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY, dividend adjusted chart and trend
discussion, flag setups FB, SYMC, PYPL, EA, ATVI, ALL, ADBE, V, IBM,
TRV, X, trigger on AAPL, CAT, breakout setups QQQ, FAS, ETFC, MA, NFLX, ADSK, trigger on NVDA, AXP, IWM, MSFT, BAC, BA, INTC, weekly trend chart on SPY, DIA, QQQ, IWM…
The DJIA 22,268 and DIA 222.45 made a new all-time closing high again as SPY and QQQ moved higher. The NDX point
leaders included AAPL, NVDA, MSFT, INTC,
FB, TXN, AVGO, CSCO and CELG.
Eight sectors were higher on Friday, led by
industrials XLI +0.41% and
technology XLK
+0.41%.
SPY up .34 at 249.19 after a 1.235 dividend on 95.4 million shares, 38% above average. Up on similar volume.
VIX down .27 at 10.17
Oil up .11 to 49.83
TLT up .05 at 126.86…on
9.7 million shares, 22% above average. Up slightly on higher volume.
BA +1.54%, and VZ +1.44%, led
the DJIA, 19 advancers.
FOSL +2.84%, QRVO
+2.74% and
M +2.64% led the SPX.
NVDA +6.32%, WDC
+3.18%, STX +2.76%,
and SWKS +2.31%, led
the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
IWM, QQQ, DIA, SPY,
Down:
Breadth strengthened
on Friday as advancers led 1,835 to
1,042 on
the NYSE and led 1,694 to 1,195 on the NASDAQ.
The SPY MFC green
line is pointed
up at 96,
bullish.
Uptrend
sectors: XLK, XLV,
XLRE, XLU, XLB,
Neutral
sectors: XLE, XLP, XLY, XLI, XLF,
Down
trend sectors:
Intermediate-term trending stocks: ALGN, CBOE, ISRG, A, SHOP, TAL, TTWO, ADBE,
LYV, FCAU, V, MCD, WYNN, WB, EDU, PYPL, MU, ATVI, FB, ATVI, EA, MCD, V, SQ, CC,
TRU, ANET, CCL, RCL, WUBA, NVDA, BA, AABA, BABA, AA, LRCX,
62 of 100 NDX stocks closed
higher and one was unchanged on Friday.
68
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
AVGO, QCOM, WDC
Moving Below 30 DMA = 3
CTRP, GOOG, NCLH
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Up
Add Comments here
14 comments:
Great Saturday viewing video. Dividend adjustment explanation really helps. Lots of trading nuggets on set-ups. Thanks, Dave
Don...you're welcome...Dave
Thanks Dave... good stuff as usual. Better than college football on a Saturday.
Phil...you're welcome and yes that must be true for half of us college football fans...have a great weekend...Dave
I finally understand the technical issues with dividend adjusted charts vs non-adjusted charts. Really appreciate the detailed explanation to add to my understanding. Thanks Dave.
Thank you Dave. Really appreciated your comments about how to approach X, NFLX and ADSK
Thank you Dave. Clear and easy to understand explanations. Could you please give a technical outlook on NVDA breakout trade management.Thanks in advance
Dave, Thank you once more for your thoughtful analysis of the market, indexes, sectors and watchlist. Amazing to see how much volume spiked on several of the tickers you pointed out. Would it be a consideration to think that we are seeing the typical seasonality of the market coming to an early close?
Larry and Beverly...you're welcome and thank you for watching...Dave
Rich...you're weclome...Dave
Fav...you're welcome...NVDA is a horizontal resistance breakout...stay with the trend until the price target...if momentum slows before reaching the price target, move your stop up to protect profits according to your rules. I hope that helps, Dave
Ben...this will be different than what you have heard or read and may be a stretch to understand...there is no typical seasonality in the present...it doesn't exist in the present...typical seasonality is only a narrative or statistical construct than can exist after the fact about the past...this present is this present and it is in no direct way connected with any of the pasts, that were the present at that past time...no I'm not writing for the Twilight Zone here :)...we can not trade the past today, we can only trade the present and we must trade based on what we see today, not based on some imagined construct of it being related, which it is NOT, to some past series of occurrences that some might label seasonality...I'm talking about trading...I'm not talking about creating narrative descriptions that might help us organize or understand the past...I hope that is clear...This is why I teach "Trade what you see," I don't teach trade some description of the "typical" past....Dave
Dave. It sure helps. Thank you!
Hello Dave, Thank you very much for your instruction, insight, diligence and consistency, and for not just going off to a beach somewhere to relax as I am sure you could. I have appreciated your instruction for many years and hope to for many more. I know you want success in trading for all of us who choose to listen and that makes it all the more valuable.
Thank you !!
Mark and Joni Simmons, Oregon
Post a Comment