After the Close Review of Thursday’s market action…QQQ, DIA, SPY, IWM, $VIX, INTC, NVDA, NFLX
ADBE, BA, more great setups …11:00 pm PST
The DJIA, closed up 254 points at
24.103, led by strength in BA, HD, MMM, V, GS, INTC and CAT.
Nine sectors were higher on Thursday, led by energy XLE +2.11%, and
technology XLK +1.98%.
SPY up 3.32 at 263.15 on 124.2 million shares, 12% above average
volume. Up on lower volume.
VIX down 2.90 at 19.97
Oil up .24 to 64.91
TLT up .59 at 121.90 on 9.6 million shares.
INTC +5.00%, CSCO
+2.95% led the DJIA, 25 advancers.
CNC +6.50%, MRO
+5.29% and
PVH +5.15%, led the SPX.
NVDA +4.63%, MELI
+4.45% and
FB +4.42% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is down.
Up: QQQ, DIA, SPY, IWM
Down:
Breadth strengthened
on Thursday, as advancers led 2,313 to 627 on the NYSE and led 1,938 to 984 on
the NASDAQ.
The SPY MFC green
line is pointed
down at 23,
short-term
bearish.
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,
91 of 100 NDX stocks closed
higher on Thursday.
16
NDX stocks are above their 30
DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 9
ADBE, ADI, COST, EXPE,
HSIC, INTU, ORLY, ROST, VRSK,
Moving Below 30 DMA = 0
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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