After the Close Review of Wednesday’s market action…DIA, SPY, QQQ, IWM, XLK, XLF, FAS, TLT, AAPL,
AMZN, FB, GOOGL, MSFT, AXP, BA, INTC, NKE, NVDA, TXN, PYPL, MNST, NTAP, MARK,
CBOE, WYNN, XLE, RRC, HES, NBL, AXP, BA, INTC, NKE, TXN, GOOGL, MSFT…bull flag
time continues…10:57 pm PST
Seven sectors were higher on Wednesday, led by utilities XLU +0.42% and
real estate XLRE
+0.40%.
SPY up .13 at 267.32 on 57.6 million shares, 28% below average volume. Up
slightly on higher volume.
VIX up .22 at 10.47
Oil down .21 to 59.59
TLT up 1.63 at 126.77…on
9.1 million shares, 19% above average volume. Up on higher volume.
V +0.91%, and MCD +0.81%, led
the DJIA, 21 advancers.
AA +2.90%, EVHC
+2.43%, and
QRVO +2.06%, led the SPX.
MAR +2.21%, ALGN
+1.30%, AMAT +1.23%,
WDC +1.20%, and INCY +1.16%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
DIA, SPY, QQQ,
Down:
IWM
Breadth strengthened
on Wednesday, as advancers led 1,588
to 1,263 on the NYSE and led 1,521 to
1,361 on
the NASDAQ.
The SPY MFC green
line is in the
upper zone at 91, bullish.
Uptrend
sectors: XLB,
XLE, XLY, XLI, XLF, XLP, XLK, XLV,
Neutral
sectors: XLU, XLRE,
Down
trend sectors:
Intermediate-term trending stocks: Many of these stocks have had significant
pull backs over the past month and it is appropriate to wait for the uptrend
to resume before considering entry… CAT, MAR, V, BA, WYNN, IBKR, TRU, CBOE,
VRSN, WYN, MCD, AA, TAL, FCAU, CCL, RCL, CC, EDU, ADBE, PYPL, MU, LYV, FB, A,
ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, NVDA, SQ, RACE,
ALGN, WB, LRCX,
54 of 100 NDX stocks closed
higher on Wednesday.
57
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
ILMN, SYMC,
Moving Below 30 DMA = 3
CELG, MCHP, MXIM,
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Neutral
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1 comment:
Thank you Dave.
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