After the Close Review of Thursday’s market action…IWM, QQQ, SPY, DIA, TLT, VIX, FAS, AXP BA sim
trade review, CAT, GS, HD, IBM, JPM, ADBE,
PYPL, FB, MU, AAPL, AMZN, GOOGL, MSFT, /ES,
and more great bull flag setups…technical analysis insights…9:24
pm PST
Nine sectors were higher on Thursday, led by industrial XLI +0.92% and
materials XLB
+0.68%.
SPY up .83 at 264.07 on 77.1 million shares, 9% above average volume. Up
on higher volume.
VIX down .86 at 10.16
Oil up .65 to 56.62
TLT down 1.00 to at 126.68…on
13.0 million shares, 62% above average volume. Down on higher volume.
CAT +1.82%, and V +1.51%, led
the DJIA, 16 advancers.
EIX +4.44%, EW
+3.61%, and
MLM +3.49%, led the SPX.
MU +3.90%, ALGN
+3.59%, FOXA +2.92%,
LRCX +2.68%, and AAL +2.56%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
IWM, QQQ, SPY, DIA,
Down:
Breadth strengthened
on Thursday, as advancers led 1,813 to 1,059 on the NYSE and led 1,766 to 1,101 on
the NASDAQ.
The SPY MFC green
line is pointed down at 77.7, defensive.
Uptrend
sectors: XLY,
XLI, XLF, XLB, XLV, XLP, XLE, XLRE,
Neutral
sectors: XLK, XLU
Down
trend sectors:
Intermediate-term trending stocks: Many of these stocks have had significant
pull backs over the past week and it is appropriate to wait for the uptrend
to resume before considering entry…BA, MCD, CAT, TRU, CBOE, LYV, WYNN, FCAU, CCL, RCL, SQ, CC, EDU, AA, ADBE, PYPL,
ALGN, V,
MU, FB,
A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, WB, LRCX, NVDA, RACE, TAL,
66 of 100 NDX stocks closed
higher on Thursday.
52
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 6
CELG, FB, GOOGL, KLAC,
MYL, TXN,
Moving Below 30 DMA = 2
TSLA, XRAY
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Neutral
12 comments:
I always enjoy watching and listening to your post....
It's great to see how the market follows a pattern
Glad to see FB came back up for me. I"m learning to be able to take bigger swings these days thanks to this blog. I read it every day, especially love the closing video. Can't wait 'till it's posted each night. And THANKS FOR LINKING THE SONG. THAT'S WHY THIS D.J. (pun intended) is THE COOLEST!
Just really appreciate this blog daily! Thank you!
Coach Dave, eight months ago I could not care a rats butt about technical analysis and price action. Your passion rubbed off on me and now I can’t imagine trading without them and a good trading plan.
Great Videos - Dave, you are definitely "Walking the Walk" This is exciting stuff. The 4-Live rules set is the Best! Thanks for your commitment to us traders.
Dave, so happy to have found you again!
Looking forward to learning more Technical Analysis and your amazing dedication and inspiration once again.... Vasi and Brian
Vasi...great to hear from you, I hope all is well...nice picture of you and Brian...is that Greece, Cyprus or where?...Dave
Thanks! Yes Greece!
Vasi...that's what it looked liked...Dave
Hi Dave. Yes it's actually the island of Santorini. If you haven't been, definitely a must see! Looking forward to hearing your recorded webcasts again!
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