© 2018
Stocks
traded in a range on quarterly expiration Friday.
Numerous bull flags continued to form on this pull back including QQQ, IWM, SPY, TXN, MSFT, BAC, NTAP, JPM,
AAL, INTC, STX, IBKR, and AAPL. WDC, MU and MCHP triggered bull flag bounce entries on Friday.
After the close ADBE +3.71%
beats on revenues, EPS and raises guidance.
The DJIA, up 72 points to 24,946, led by strength in CAT, WMT, MMM, AXP and V.
Six sectors were higher on Friday, led by energy XLE +0.89% and
utilities XLU +0.88%.
SPY up .30 at 274.20 after dividend of 1.097, on 100.3 million shares, 25% below average
volume. Up on higher volume.
VIX down .79 at 15.80
Oil up 1.14 to 62.33
TLT down .43 at 119.81 on
6.0 million shares, 42% below average volume. Down on lower volume.
WMT +1.90%, and AXP +1. 92%, led
the DJIA, 21 advancers.
BHF +4.23%, SWN
+4.21%, and
BHGE +3.45%, led the SPX.
ULTA +7.64%, WDC
+4.13%, CTRP +3.12%,
ADBE +3.05% and MU +2.96% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up: IWM, DIA, SPY,
Down:
QQQ,
Breadth strengthened
on Friday, as advancers led 1,941
to 932 on the NYSE and led 1,764 to 1,097 on
the NASDAQ.
The SPY MFC green
line turned
down at 72,
defensive.
Uptrend
sectors: XLK,
Neutral
sectors: XLY, XLF, XLV, XLI, XLB, XLE,
XLRE,
Down
trend sectors: XLP, 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… ADBE, MU, SQ, RNG, IBKR, SHOP, BA, NVDA,
RACE, VRSN, ATVI, WB, V, ANET, ISRG, TAL, EA, EBAY, LYV, CAT, MAR, ALGN, CCL,
RCL, TRU, WYN, PYPL, A, AABA, BABA, FCAU, FB, CBOE, TTWO, WYNN, AA, WUBA, EDU, CC,
53 of 100 NDX stocks closed
higher on Friday.
71
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
BMRN, GILD, ORLY, ULTA,
Moving Below 30 DMA = 2
ATVI, MELI,
The
intermediate and long-term trends are still up. The two-month trend is sideways. The seven-day trend is sideways.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market Trend: Down
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