© 2018
Earnings season is underway with reports after the close Tuesday and before the
open Wednesday. Positive reactions today included UAL, NFLX, GS, MS, JNJ, MTB, UNH and USB. Negative reactions: IBM, CSX, NTRS.
The DJIA, closed down 91 points at 25,706, led by weakness in IBM, HD, UNH, BA and UTX. This
is the sixty-eighth consecutive close above 25,000 since June 15.
Four of eleven sectors were higher, led by financial XLF +1.01% and
healthcare XLV
+0.53%.
SPY up .05 at 280.45, on 110.6 million
shares, 35% above average volume. Flat on slightly lower
volume.
VIX down .22 at 17.40
Oil down 2.12 at 70.05
TLT down .68 at 114.00 on 5.8 million shares.
GS +2.97%, JNJ +2.12%, led the DJIA, 18 advancers, -12.
UAL +5.95%, USB +3.79% and MS +2.72%, led the SPX.
NFLX +5.28%, WDAY +2.28%, SBUX +2.23%, and INTU +1.82%, led the NDX.
Intermediate and long
term up trend intact. 3-day short term trend is up.
Up: QQQ, SPY,
Down: DIA, IWM,
Breadth weakened
on Wednesday, as decliners led 1,815 to 1,076 on the NYSE and led 1,713 to 1,261 on the NASDAQ
The SPY
MFC green line is pointed up at 27 and is now bullish.
Uptrend sectors: XLU, XLV,
Neutral sectors:
XLE, XLP, XLK, XLY, XLI, XLF,
Down trend sectors: XLRE,
XLC, XLB,
The 6-month intermediate
and long-term trends are still up. The three-month trend is sideways.
The ten-day trend is down.
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Up
47 of 100 NDX stocks closed higher on Wednesday.
26 NDX stocks are above their 30
DMA. ESRX, NTES, BMRN, FOXA, SBUX, WBA, HSIC, QRTEA, ULTA, ALXN, CERN, CHTR, CMCSA, DLTR, GILD, HOLX,
REGN, ROST, SHPG, SYMC, TMUS, TTWO, VRTX, ASML, CA, NFLX,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 3
ASML, CA, NFLX,
Moving Below 30 DMA = 2
ORLY, XLNX,
Intermediate-term
trending stocks:
ADBE, COST, DG, AAPL,
AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN,
CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC,
EL, CME, KORS, A, WUBA,
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