Indexes Move to February Support...

A brief review due to travel on Friday and the weekend…

© 2018

The DJIA, closed down 424 points to 23,533, led by weakness in MMM, GS, AAPL, HD, TRV, IBM, V, JPM, UHG, CAT and MSFT.  

All sectors were lower on Friday, with the weakest financial XLF -3.04%, and materials XLK -2.67%.

SPY down 5.62 at 258.05 on 183.5 million shares, 62% above average volume.  Down on higher volume.

VIX up 1.53 at 24.87

BA +0.43%, NKE +0.33% led the DJIA, 2 advancers.

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

Up:

Down: DIA , SPY, IWM, QQQ,

Breadth continued weak on Friday, as decliners led 2,331 to 591 on the NYSE and led 2,280 to 622 on the NASDAQ.

The SPY MFC green line is pointed down at 54, defensive. 

Uptrend sectors:  XLRE,

Neutral sectors: XLY, XLF, XLV, XLI, XLB, XLE, XLU, XLK

Down trend sectors: XLP,

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,

5 of 100 NDX stocks closed higher on Friday.

11 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0                            

 

Moving Below 30 DMA = 15

ADI, ALGN, AMAT, AMZN, ASML, CTRP, CTXS, IDXX, ILMN, INTU, SBUX, ULTA, WDAY, WDC, XLNX 

The intermediate and long-term trends are still up.  The three-month trend is sideways.  The eight-day trend is down.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

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