After the Close Review of Wednesday’s market action…SPY, QQQ, IWM, XLE, XOP, WLL, APC, COP,
NFLX, FB, ADBE, MCD, NTAP, more great setups …8:10 pm PST
© 2018
The DJIA, closed down 218 points at 24,189, led by weakness in BA, UNH, GS, MMM, JPM, AXP, and CAT. (160 points)
Two sectors were higher on Wednesday, led by energy XLE +1.04% and
real estate XLRE+0.26%.
SPY down 1.39 at 263.76 on 91.1 million shares, 20% below average
volume. Down on lower volume.
VIX down .23 at 20.24
Oil up 1.16 to 66.74
TLT up .43 at 121.51 on 5.9 million shares.
XOM +0.47%, MCD
+0.35%, led the DJIA, 3 advancers.
MAT +6.58%, HLT
+6.13% and
CXO +4.51%, led the SPX.
NVDA +5.80%, TMUS +5.67%, STX +5.44%, and MU +5.25%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is sideways.
Up: IWM, ,
Down:
SPY, QQQ, DIA
Breadth weakened on Wednesday, as advancers led 1,452 to 1,405 on the NYSE and advancers led 1,450 to
1,390 on the
NASDAQ.
The SPY MFC green
line is pointed
up and is at 34, 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 two months and it is appropriate to wait for the
uptrend to resume before considering entry… ADBE, IBKR, ETFC, EL, TPR, WIX,
NDAQ, WYNN, MU, VRSN, ANET, AKAM, COP, CRM, HRS, KORS, NTAP,
SQ, CMA,
CME, RNG, AA, WUBA, FCAU, MA, V, ALGN, TAL,
BA, DLTR,
NVDA, MAR, ISRG, WB, RACE, SHOP,
25 of 100 NDX stocks closed
higher on Wednesday.
19
NDX stocks are above their 30
DMA. WYNN, SHPG,
ADBE, HSIC, SBUX, VRSK, DLTR, ULTA, VOD, ADP, ADSK, ASML, CTXS, INTC, PCAR,
ROST, STX, TMUS, SYMC,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
SYMC,
Moving Below 30 DMA = 4
CELG, CHKP, MSFT, MYL,
The
intermediate and long-term trends are still up. The three-month trend is sideways. The ten-day trend is sideways.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market Trend: Sideways
10 comments:
WooHoo!! Thanks for the video!! I love that while every other market commentator is talking doom and gloom (typical fear when the market goes down) you are the only one giving rational, historically based data that gives insight to what is probably going on in the current market environment.
Thank you!
Steve
Steve...glad to have the time today, you're welcome...Dave
Hi Dave,
Great to have you back!!! Your videos are very helpful in reducing the noise and fine tuning the action in the market. Thanks.
Robert
Thanks for the video today. Even before you suggested us to let you know if we saw it, I was thinking that I was glad to see so many people asking about it when it wasn't there. At least one can know that many folks watch it and are helped by it. Just getting something like this every day at no cost can spoil us. We shouldn't wait until the video is gone to give comments on this blog. I hope more and more of us will make sure and comment whether it is there or not. Thanks again. Video or no video, the blog is appreciated for sure.
Love the blog and the video adds so much more detail and insight to the printed version, I hope the time constraints ease up so you have the capacity to continue the videos. Thanks Dave for all that you do for us. Best to you and your family.
Great to have the Videos Back. Thank you for your dedication and insights. Your Chart Signals and Videos are Priceless.
WOW!!!! I am so glad to see the video! I know how busy you are and I THANK you!
Thanks for giving us your time to make these videos. I know life can get really busy, they are very helpful and what you share is much appreciated!
Really appreciate the videos. John
Dave, I wasn't sure if you were dead or in a Turkish prison, glad to have you back! You are like the north star when it comes to market analysis, you are the most consistent person I know of. I've listened to you for years and picked up a ton of information, but you still notice things that I don't always see. Your level of dedication to this topic is off the charts! Thanks for helping me be a better trader.
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