Thursday, June 7, 2018

Tech & Small Caps Pull Back...Energy Leads as DJIA Rises...





© 2018

AAPL, MSFT, ADI, ADP, COST, FISV, IDXX, ILMN, ISRG, MCHP, ORLY and VRSK made new highs.

IWM -0.55% and QQQ -0.81% made new intra-day highs before pulling back.

The DJIA, closed up 95 points at 25,241, above 25,000 for the second straight day, led by strength in MCD, CVX, HD, TRV and PG.

Seven sectors were higher on Thursday, led by energy XLE +1.85% and utilities XLU +1.82%.


SPY down .03 at 277.37 on 72.9 million shares, 3% above average volume. Down on higher volume.
VIX up .49 at 12.13
Oil up .94 to 65.95
TLT up 1.15 at 119.89 on 13.2 million shares.

MCD +4.37%, CVX +2.90%, led the DJIA, 21 advancers.
APA +5.48%, AGN +5.08% and SWN +4.26%, led the SPX.
DISH +2.83%, COST +2.48%, SWKS +2.17%, and ESRX +2.12%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: DIA,
Down: SPY, IWM, QQQ,

Breadth weakened on Thursday, as advancers led 1,580 to 1,311 on the NYSE and decliners led 1,614 to 1,278 on the NASDAQ

The SPY MFC green line is in the upper zone and is at 97, bullish

Uptrend sectorsXLY, XLK, XLRE, XLE,
Neutral sectors: XLF, XLV, XLI, XLB, XLU
Down trend sectors: XLP

Intermediate-term trending stocks
RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL
BA, MU, MAR, CMA, CME, ANET, HRS, KORS,
DLTR, WB, TPR,


35 of 100 NDX stocks closed higher on Thursday.

77 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 2
DISH, TMUS,

Moving Below 30 DMA = 6
AMAT, CTSH, LRCX, MELI, STX, WDC,


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: Up

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