Wednesday, January 10, 2018

DJIA -16 Points as Stocks Take a Breather...XLF Leads as BA, AMZN, NFLX Make New Highs...Airline Stocks Take Off...




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
© 2018


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 sectorsXLB, 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:

Kempington said...

Watching for the trend continuation. Congrats again, 41 years and a day. Thank you Dave.

Walt said...

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,

Janet said...

Congratulations, Dave! Doing something you love and making a difference are achievements to celebrate.