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Earnings season continued on Thursday. Positive reactions included TWTR, XLNX, MORN, SHOP, IP, F, TSLA, AAL and
MSFT. Negative reactions: ALGN, FF, AMD, EFX, TRN.
The DJIA, closed up 401 points at 24,984, led by strength in BA,
UNH, V, MSFT and GS. This is the second
close below 25,000 since July 12.
SPX staged a terrific rally,
a 58% recovery of Wednesday’s
selloff. After the close AMZN -7.42% and GOOGL -3.95% reported
EPS with strong earnings but missing on revenue and the stocks dropped. This will likely have a dampening effect on
Friday’s open
Ten of eleven sectors were higher, led by technology XLK +3.44% and
communication XLC +3.31%.
SPY up 4.76 at 270.08, on 137.9 million shares, 32% above average
volume. Up on lower volume.
VIX down 1.01 at 24.22
Oil up .59 at 66.98
TLT down .48 at 114.30 on 12.6 million
shares.
MSFT +5.84%, V +4.66%, led the DJIA, 23 advancers, +18.
TWTR +15.47%, IP +10.25% and FOSL +10.07%, led the SPX.
XLNX +15.01%, TSLA +9.14%, TTWO +8.77%, and AMZN +7.09% led
the NDX.
Intermediate and long
term up trend intact. 3-day short term trend is down.
Up: QQQ, IWM, SPY, DIA
Down:
Breadth strengthened
on Thursday, as advancers led 2,135 to 801 on the NYSE and led 2,133 to 894 on the NASDAQ
The SPY
MFC green line is pointed down at 17 and is short-term
bearish.
Uptrend sectors: XLU, XLP,
Neutral sectors:
XLV, XLRE,
Down trend sectors: XLK,
XLY, XLI, XLF, XLE, XLC, XLB,
The 6-month intermediate
and long-term trends are still up. The three-month trend is down.
The ten-day trend is down.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
93 of 100 NDX stocks closed higher on Thursday.
10
NDX stocks are above their 30
DMA. SBUX, WBA, CDNS, TSLA, PEP, CMCSA, ESRX, PYPL, QRTEA, XLNX,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 5
CMCSA, ESRX, PYPL, QRTEA, XLNX,
Moving Below 30 DMA = 0
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