© 2018
Futures rose overnight. The market opened
higher and continued trending up, closing higher for the third straight day. MU and TXN sold off due to an analyst rating. After the close, the
President asked the U.S. Trade Representative to consider another $100 billion
in tariffs in response to China's recent announcement. The /ES
futures dropped about 44 points, but has recovered about 15 points as of
midnight EDT.
The DJIA, closed up 240 points at 24,505, led by strength in BA, GS, CAT, CVX, and MCD.
Nine sectors were higher on Thursday, led by materials XLB +1.86% and
energy XLE +1.80%.
SPY up 2.08 at 265.64 on 82.6 million shares, 26% below average volume. Up on lower volume.
VIX down 1.12 at 18.94
Oil up .17 to 63.73
TLT down .90 at 119.79 on
7.6 million shares.
DWDP +2.75%, BA
+2.74% led the DJIA, 25 advancers.
NAVI +6.39%, MRO
+5.73% and
RRC +5.37%, led the SPX.
TSLA +6.54%, AMZN +2.92%, and PYPL
+2.90%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is up.
Up: DIA, IWM, SPY, QQQ
Down:
Breadth weakened
slightly on Thursday, as advancers led 2,115 to 758 on the NYSE and led 1,757 to 1,135 on the NASDAQ.
The SPY MFC green
line turned up today and is at
28, bullish.
Uptrend
sectors: XLRE,
XLU,
Neutral
sectors: XLY, XLF, XLV, XLI, XLB, XLE,
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, FCAU, WIX, MU, SQ, RNG, WYNN, AA,
WUBA, SHOP, BA, NVDA, RACE, VRSN, V, MAR, ALGN, IBKR, ATVI, WB, ANET, ISRG, TAL,
EA, EBAY, LYV, CAT, CCL, RCL, TRU, WYN, PYPL, A, AABA, BABA, FB, CBOE, TTWO, EDU,
CC,
63 of 100 NDX stocks closed
higher on Thursday.
18
NDX stocks are above their 30
DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
BKNG, CTAS, INTC, PCAR,
Moving Below 30 DMA = 3
CELG, INTU, REGN,
The
intermediate and long-term trends are still up. The three-month trend is sideways. The nine-day trend is sideways.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market Trend: Up
6 comments:
Thanks Dave, love the information but really miss the videos when they are not there. Hope to see them again soon.
Dave....Your Videos are great but the Chart Signals Blog is PRICELESS.
Thank you for all your teaching, coaching and mentoring.
the lower this goes the stronger the divergences. think we have about 3 days left before a significant reversal (after friday).
Larry and Beverly, Thank you...live mentoring has been busy, busy, busy...time has been the limiting factor this week regarding videos...they will continue to produced as time permits...Thank you for your interest. Dave
snp...market has been sideways for ten trading days now, low was last Monday...SPX Friday low was 32 points higher than Monday's low and Friday's close 50 points above Monday's low...SPX didn't go lower than Monday - Wednesday's lows...support is holding for ten days...thanks for sharing...DJ
Don...you're welcome...Dave
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