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Stocks opened lower on Thursday, and following comments that
the June Summit with No. Korea was being cancelled, sold off 24 points in the
morning. Buying momentum returned after
selling exhausted around 11 am and the SPX
rallied 20 points to close down 5 points for the day.
Friday is the last trading day before the three-day Memorial Holiday weekend. Markets are closed on Monday.
Friday is the last trading day before the three-day Memorial Holiday weekend. Markets are closed on Monday.
IWM and DIA are bull flag setups while SPY and QQQ are horizontal breakout
setups.
The DJIA, closed down 75 points at 24,811, led by weakness in CVX, XOM, GS, UNH, JPM and JNJ.
Three sectors were higher on Thursday, led by utilities XLU +0.82% and
industrials XLI +0.49%.
SPY down .56 at 273.36 on 76.0 million shares, 3% above average volume. Down on
higher volume.
VIX down .05 at 12.53
Oil down 1.16 to 70.67
TLT up .94 at 118.88 on 8.2 million shares.
GE +2.96%, NKE
+1.18%, led the DJIA, 8 advancers.
FOSL +5.11%, NRG
+3.86% and
KSS +3.61%, led the SPX.
MELI +3.33%, ALGN +2.87%, MU +2.53%, and CELG +2.42%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is sideways.
Up: IWM,
Down:
QQQ, SPY, DIA,
Breadth weakened on Thursday, as advancers led 1,495 to 1,388 on the NYSE and decliners led 1,501 to
1,358 on the
NASDAQ.
The SPY MFC green
line is in the
upper zone and is at 90, bullish.
Uptrend
sectors: XLE,
XLK, XLRE,
Neutral
sectors: XLF, XLY, XLV, XLI, XLB, XLU
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 entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX,
NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN,
AKAM, SHOP,
BA, MU,
MAR, CMA, CME, ANET, HRS, KORS,
DLTR, WB,
EL, TPR,
45 of 100
NDX stocks closed higher on Thursday.
70
NDX stocks are above their 30
DMA. SHPG,
ULTA, ADP, CTXS, COST, CSX, INTU, ROST, ISRG, HAS, CDNS, INTC, BMRN, ALXN, AMZN, FB, ILMN, MSFT, NFLX, ORLY, SIRI, SNPS, EXPE, FOXA, TTWO, ATVI, TXN, AAPL, CTAS, ADBE, ALGN,
JBHT, NVDA,
PAYX, ADI, ADSK, BIIB, CA, EA, GOOGL, KLAC, MAR, SWKS, CERN, MCHP, FAST, XLNX, FISV, MU,
MXIM, PYPL, QCOM, AMGN, ESRX, WBA, INCY, HOLX, MYL, VRTX, WDC, CTRP, IDXX,
VRSK, ASML, AVGO, LRCX, WYNN, STX, PCAR, SBUX, WDAY,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
PCAR, SBUX, WDAY,
Moving Below 30 DMA = 0
The
6-month intermediate and long-term trends are still up. The three-month trend
is sideways. The ten-day trend.
3-month Intermediate Term
Market Trend: Sideways
3-day Short Term Market Trend: Sideways
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