SPX, DJIA, NDX Finish Record 2017 as Late Selloff Drives SPX down 14 points...

Happy New Year!  Markets are closed Monday, January 1, 2018.  Have a safe and terrific New Year’s holiday weekend!

A late selloff on heavy volume sent the SPX down -13.93 to a 2,673.61 close on its heaviest volume in over a week.  The SPX was up 26 points in December.  Notwithstanding the late selloff, the SPX still finished with a record monthly and yearly new-high close. 

Leading stocks in December included MYL, ESRX, MELI, LBTYA, JD, ALXN, EBAY, STX, FOXA, TXN, MAR, CMCSA, WYNN, ROST, NTES, DLTR, FAST, SHPG, and TMUS, all with gains between 4% to 15%.

                                                    

After the Close Review of Friday’s and 2017 market action…SPX, SPXL, QQQ, DIA, SPY, IWM, XLK, XLB, XLI, XLY, XLF, XLV, BA, CAT, V and many more charts and setups at the end of 2017…7:15 pm PST

© 2017

Two sectors were higher on Friday, led by real estate XLRE +0.09% and utilities XLU +0.06%.

SPY down 1.01 at 266.86 on 95.9 million shares, 43% below average volume.  Down on higher volume.

VIX up .86 at 11.04

Oil up .21 to 60.10

TLT up .20 at 126.86…on 7.6 million shares, average volume.  Up on higher volume.

GE +0.52%, and KO +0.35%, led the DJIA, 2 advancers.

NRG +1.68%, MLM +1.65%, and NOV +1.49%, led the SPX.

MYL +1.08%, MNST +0.59%, ILMN +0.45%, LBTYA +0.25%, and TTWO +0.17%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up:

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Friday, as decliners led 1,692 to 1,183 on the NYSE and led 1,893 to 1,057on 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,

8 of 100 NDX stocks closed higher on Friday.

51 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0                            

 

Moving Below 30 DMA = 9

AMGN, IDXX, KLAC, MCHP, MXIM, PCLN, REGN, SYMC, XRAY 

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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