After the Close Review of Friday’s and
this week’s market action… SPY, IWM DIA,
QQQ, AAPL, TLT, VIX, weekly charts XLK,
XLV, XLRE, XLU, XLB, XLE, XLP, XLY, XLI, XLF, MNST, EA, MCHP, ATVI, PYPL, X,
VALE, SYMC, MAR, JBHT, ESRX, ADSK, DLTR, MSFT, CSX, TSCO, MU, FB, NFLX, WDC,
LRCX, BIDU, CC, AXP, C…
Insurance stocks rebounded on Friday led
by XL, RE, CB, TRV, MMC, PGR, ALL, AJG,
AIZ, HIG, AON, BHF, CINF, AIG, L and,
TMK.
Five sectors were higher on Friday, led by financials
XLF +0.92% and
real estate XLRE +0.47%.
SPY down .29 at 246.58 on 63.8 million shares, 4% below
average. Lower on higher volume.
VIX up .57 at 12.12
Oil down 1.55 to 47.56
TLT down .28 at 129.00…on 9.8 million shares, 30% above
avg. Down on lower
volume.
TRV +3.98%, and HD +1.10%, led
the DJIA, 10 advancers.
XL +5.84%, RE
+4.97% and
CB +4.43% led the SPX.
SYMC +3.37%, FAST
+1.81%, MAR +1.64%,
and HAS +1.53%, led
the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
IWM, DIA,
Down:
SPY, QQQ
Breadth weakened
on Friday as
decliners led 1,563 to 1,319 on the NYSE and led 1,440 to 1,377 on the NASDAQ.
The SPY MFC green
line is pointed
down at 70.9,
defensive.
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,
25 of 100 NDX stocks closed
higher and one was unchanged on Friday.
61
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
CTAS, FAST,
Moving Below 30 DMA = 9
AKAM, AMZN, CSCO, INTC, LVNTA, NVDA, STX, TSLA,
TXN,
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Up
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8 comments:
Wishing your granddaughter a very happy birthday! Thank you for another great weekly analysis of trend and what to expect based on current information. Everything you are doing in the videos is helpful to me. Thank you for the explanations on seeing trends changing and showing different set-ups. I am continuing to practice, so I can see more clearly. Thank you!
Dave,
Thanks for teaching the Iron Condors. It has really made a difference in my trading and my account is going up. And as I continue to improve, I expect my account to go up up up.
Don
Your analysis is insightful. Since March of 2009, the market has been going up, up, up. Who is going to be the last person holding the bag? How can we tell when the next serious downturn is on the horizon. I have experienced many fake outs over the five years I have been trading (vs. investing). In several cases, I would be ahead if I just held on but I have experienced pain in what could be described as a buy high (resistance) then sell low (when breaking support) only to turn up again. It is difficult for me to get back in after being left behind for fear of a double burn. Any advice to work through my concerns? Thanks always Dave.
Janet...you're welcome and thank you very much...she had a great birthday party and she was smiling exactly as a happy six year old should...Dave
Don W...you're welcome and congratulations on the success...Dave
Barry...your first question is not the first question a great trader would ask...second question is better and the answer begins with a correct understanding of trend...When the next serious downturn occurs it will begin with the trend turning down...Question three answer begins with a correct understanding of how the mind works...you must have an intention and then focus your attention on your intention...whatever you place you attention on is what you will attract into your reality...if attention is focused on the fear of a double burn, it is highly likely that is exactly what you will attract into you reality...Advice build your logic and skill and leave emotion to when you play games with your family and friends...Dave
Dave, hope you and your family had a wonderful birthday celebration, for your granddaughter.
I value your market overviews, as well as your technical analyses of individual stocks/indices etc. I reinforce my skills through observance of your gathering of the preponderance of the evidence. All of this helps to build my confidence by revealing whether I am "On target" with my own analyses for the day. I also appreciate when some of my stock selections agree with yours (sort of like succeeding at daily quizzes.) I ALWAYS benefit from observing the placement and management of sim trades!
Once again...thank you for your time, dedication, and your generosity of spirit, in the sharing of your skills. I learn something new each time you teach us.
Steph...you're welcome...Dave
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