After the Close Review of Friday’s market action…QQQ, $INDU, DIA, SPY, IWM, $VIX, more
great setups …11:05 pm PST
The DJIA, up 440 points to 25,335, led by strength in BA, MMM, CAT, GS, HD, CVX, JPM, IBM, AAPL, UTX and MCD.
The DJIA closed above 25,000 for the twenty-eighth time this
year.
Ten sectors were higher on Friday, led by financial XLF +2.41%, and
industrials XLI +2.20%.
SPY up 4.77 at 278.87 on 113.6 million shares, 17%
below average volume.
Up on higher volume.
VIX down 1.90 at 14.64
Oil up 1.79 to 62.12
TLT down .78 at 117.91 on 6.5 million shares, 43% below
average volume. Down on lower volume.
CVX +3.41%, and CAT +3.03%, led
the DJIA, 29 advancers.
KR +4.79%, RRC
+4.52%, and
CHK +4.38%, led the SPX.
LRCX +5.74%, WYNN
+5.46%, ALXN +4.72%,
NFLX +4.56% and MELI +4.18% led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up: QQQ, DIA, SPY, IWM,
Down:
Breadth strengthened
on Friday, as advancers led 2,146
to 773 on the NYSE and led 2,139 to 764 on
the NASDAQ.
The SPY MFC green
line pointed up
at 63, bullish.
Uptrend
sectors: XLK,
Neutral
sectors: XLY, XLF, XLV, XLI, XLB, XLE,
Down
trend sectors: XLP, XLRE, 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,
92 of 100 NDX stocks closed
higher on Friday.
72
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 5
CERN, JBHT, MAR, MDLZ,
PAYX,
Moving Below 30 DMA = 0
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: Up
6 comments:
Wow! Is this Market wild or what. Dave, your Chart Signals is Priceless. The Weight of the Evidence makes a huge difference in trading. Thanks for your teachings and insights.
Another Great day in the Market... Many Thanks Dave for your direction
Hi Dave , I used to watch all the Td Ameritrade Friday Wall Street Wrap Ups because of you. Since you left it has not been the same. I'm so glad I found you !!v
Thank you for your continued guidance.
Monday was another good day in the market
Don, Devoir, Jason and retire 2035...thank you for watching Chart Signals videos...continued success in your trading...Dave
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