After the Close Review of Wednesday’s market action…INDU, IWM, DIA, SPY, QQQ, XLF, JPM, BA, BA,
CAT, HD, V, NVDA, SBUX, STX, X, SQ, AAL, DAL, UAL, LUV, ALK and setups …10:47 pm PST
Record highs: BA, AXP, CVX, JPM, UTX, ADBE, AMZN,
FISV, ISRG, NFLX, PYPL,
One sector was higher on Wednesday, led by financial XLF +0.84% and
industrial XLI
-0.01%.
SPY down .42 at 274.12 on 69.4 million shares, 18% below average volume. Down
on higher volume.
VIX down .26 at 9.82
Oil up .02 to 63.50
TLT down .15 at 123.80…on
14.3 million shares, 46% above average volume. Down on higher volume.
GE +1.99% and JPM +1.10%, led
the DJIA, 13 advancers.
UAL +6.72%, CTL
+5.68%, and
BHF +3.71%, led the SPX.
ISRG +6.58%, SIRI
+4.61, WDAY +4.44%,
AAL +3.26%, and NFLX +1.53%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up:
IWM,
Down:
DIA, SPY, QQQ,
Breadth was
similar on Wednesday, as decliners led 1,775 to 1,118 on the NYSE and led 1,497 to
1,372 on the
NASDAQ.
The SPY MFC green
line is in the
upper zone at 96, bullish.
Uptrend
sectors: XLB,
XLE, XLY, XLI, XLF, XLP, XLK, XLV,
Neutral
sectors: XLRE,
Down
trend sectors: XLU,
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, CBOE, IBKR, NVDA, ISRG,
TRU, VRSN, WYN, MCD, WYNN, ANET, CDNS, AA, TAL, EDU, FCAU, ADBE, PYPL, LRCX, CC,
WB, MU, LYV, FB, A, TTWO, AABA, BABA, RNG, WUBA, CCL, RCL, SHOP, ATVI, SQ,
RACE, ALGN,
35 of 100 NDX stocks closed
higher on Wednesday.
84
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 4
INCY, QCOM, SIRI, WDC,
Moving Below 30 DMA = 4
AVGO, HAS, MDLZ, WYNN,
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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3 comments:
Watching for the trend continuation. Congrats again, 41 years and a day. Thank you Dave.
Dave, looking forward to your visit on the 20th.
When you say above "waiting the for uptrend to continue", are you suggesting waiting until the stock breaks the prior high, or waiting until a close above the low on a bullish candle?
Thx,
Congratulations, Dave! Doing something you love and making a difference are achievements to celebrate.
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