After the Close Review of Tuesday’s
action… SPY, SPX, DIA, QQQ new all-time
closing high, AAPL, IWM, XLK, XLU, XLV, XLRE, XLB, XLI, XLF, FAS, XLE, XLP,
XLY, VIX, insurance stocks XL, RE,
CB, TRV, PGR, ALL, AJG, AIZ, HIG, AON, BHF, CINF, AIG, L and TMK, bull flag ADBE, UNH, horizontal breakout NFLX, JD, C, AXP, NVDA, BAC, ATVI, MSFT, ADSK, FB, EA, GPRO…
© 2017
8 sectors were higher on Tuesday, led by
financials XLF +1.18% and
technology XLK +0.84%.
SPY up .84 at 250.05 on 56.8 million shares, 15% below average. Higher on
lower volume.
VIX down .15 at 10.58
Oil up .27 to 48.37
TLT down .67 at 126.79…on 7.5 million shares, 5% below average. Down on lower
volume.
PFE +3.06%, and DWDP +2.50%, led
the DJIA, 21 advancers.
SWN +6.47%, GPS
+6.44% and
RRC +5.60% led the SPX.
STX +3.04%, SYMC
+2.99%, JD +2.97%,
and MU +2.54%, led
the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
IWM, SPY, DIA, QQQ,
Down:
Breadth weakened
on Tuesday as
advancers led 1,811 to
1,046 on
the NYSE and led 1,778 to 1,030 on the NASDAQ.
The SPY MFC green
line is pointed
up at 81,
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,
63 of 100 NDX stocks closed
higher on Tuesday.
70
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
CTXS, JD, NCLH,
Moving Below 30 DMA = 1
HOLX,
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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1 comment:
Great Demonstrations of the different types of SPY or SPXL trades showing the potential each time frame or investment vehicle!
I thought one of the most important points today was regarding the Micron Trade (MU), where you said you chose the long call instead of the Short Put vertical based on your market posture on 8/28. I assume the SPY MACD divergence on 8/18 and 8/21 was one of the keys to the potential change in market direction.
From this it seems to me you will base the riskiness of your option trades based on the market/sector posture as well as the individual stock technicals. Is this correct?
Jeff
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