After the Close Review of Friday’s volatile market action…DIA, VIX, SPY, IWM, QQQ, XLF, BAC, JPM, C,
MS, ETFC, SCHW, CBOE, XLI, DLTR, CSCO, NKE, HC, IBM and more great setups technical analysis insights…10:58 pm PST
Stocks staged a dramatic selloff and volatility
spiked after word
of Michael Flynn’s guilty plea was announced. Markets then staged a dramatic
rally and closed slightly lower on Friday. Volatility closed slightly
higher.
Volume spiked to its highest level since May 17. Much of the volume after
11:30 am ET was buying volume.
Four sectors were higher on Friday, led by energy XLE +0.84% and
staples XLP +0.25%.
SPY down .55 at 264.46 on 164.3 million shares, 133% above average volume. Down
on higher volume.
VIX up .15 at 11.43
Oil up .87 to 58.29
TLT up 1.43 to
at 126.55…on 24.6 million shares, 219%
above average volume. Up on higher volume.
MRK +1.09%, and CSCO +0.80%, led
the DJIA, 20 advancers.
APA +5.71%, HPE
+3.51%, and
BHGE +3.26%, led the SPX.
MYL +4.35%, REGN
+3.21%, CHTR +3.08%,
LVNTA +2.53%, and CMCSA +2.37%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
Down:
DIA, SPY, IWM, QQQ
Breadth weakened on Friday as
advancers led 1,504
to 1,431 on
the NYSE and decliners led 1,750 to 1,181 on
the NASDAQ.
The SPY MFC green
line in the
upper zone at 92 bullish.
Uptrend
sectors: XLY,
XLI, XLF, XLB, XLV, XLK, XLP, XLU, XLE, XLRE,
Neutral
sectors:
Down
trend sectors:
Intermediate-term trending stocks: ADBE, PYPL, ALGN, BA, V, MCD, CAT, MU, TRU,
FB, A, ISRG, CBOE, LYV, TTWO, AABA, BABA, CDNS, ANET, WYNN, RNG, WUBA, SHOP,
ATVI, WB, LRCX, NVDA, SQ, CC, FCAU, RACE, TAL, CCL, RCL, EDU, AA,
33 of 100 NDX stocks closed
higher on Friday.
60
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
CHTR, LVNTA, MYL,
Moving Below 30 DMA = 4
ADBE, GOOGL, PCAR, 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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2 comments:
Thanks Dave. I'm sure a lot of people got stopped out of their trades on Fridays mini flash crash. I was up big on XLI on Fiday morning before going to work. Fortunately, my little Dave voice inside of my head told me to tighten up my stops to "preserve profits". I managed to save 75-80% of the profit by doing so. I'm back in XLI this morning at 22 cents above Thursdays high. But price action seems to be flat, so far. Now gotta go to work.
Doug...congratulations...moving stops, profit protection that's the way to go...Dave
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