DJIA 26,392, +140 Points, New Record Close on strength in BA, MMM...INTC Gains on EPS in After-hours...

After the Close Review of Wednesday’s market action…INDU, DIA, BA, MMM, JNJ, UTX, GS, CAT, SPY, IWM, QQQ, ADBE, ADSK, COST, DLTR, NKE, ROST, ATVI, IBM, $VIX, more great setups …9:37 pm PST

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Price volatility again ruled the day on Thursday as the SPX +1.71 opened higher, followed by a selloff, a rally, a selloff and a rally into the close.  The SPX barely made a new all-time closing high, just .12 point above Tuesday’s previous all-time closing high.

The DJIA closed at 26,392, up 140 points on strength in BA, MMM, JNJ, UTX, GS, and CAT.  Thursday was the seventh close above 26,000, and the fifteenth close above 25,000. 

Record highs: DWDP, GS, JPM, MMM, MSFT, TRV, UNH, V, VZ, WMT, ALGN, ATVI, FISV, FOXA, GOOGL, IDXX, ISRG, MAR, MELI, NFLX, PYPL,

Five sectors were higher on Thursday, led by utilities XLF +1.55% and healthcare XLV +0.86%. 

SPY up .12 at 283.30 on 84.5 million shares, 2% below average volume.  Down on lower volume.

VIX up .11 at 11.58

Oil down .65 to 65.23

TLT up 1.01 at 123.04…on 9.0 million shares, 28% above average volume.  Up on higher volume.

BA +2.52% and MMM +1.89%, led the DJIA, 21 advancers.

VAR +12.35%, ES +5.63%, and GWW +5.32%, led the SPX.

NFLX +3.21%, ISRG +2.82%, REGN +2.22%, BIIB +2.09%, and COST +1.91%, led the NDX.

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

Up: DIA, SPY, IWM,

Down: QQQ,

Breadth strengthened on Thursday, as decliners led 1,583 to 1,331 on the NYSE and led 1,461 to 1,412 on the NASDAQ.

The SPY MFC green line is in the upper zone at 96, bullish.

Uptrend sectors:  XLY, XLK, XLF, XLE, XLP, XLV, XLB, XLI,

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… BA, CAT, MAR, V, CBOE, IBKR, TRU, WYN, MCD, WYNN, ADBE, PYPL, ANET, RNG, NVDA, ISRG, VRSN, CDNS, AA, WUBA, TAL, EDU, FCAU, LRCX, CC, WB, MU, LYV, FB, A, TTWO, AABA, BABA, CCL, RCL, SHOP, ATVI, SQ, RACE, ALGN,  

46 of 100 NDX stocks closed higher on hursday.

79 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0                            

 

Moving Below 30 DMA = 4

AAL, CHKP, CSX, XLNX,  

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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