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After-hours NVDA -16.77%, WSM -13.14%
and AMAT -7.77% fell after reporting
EPS. NVDA and AMAT negative
reactions brought QQQ and /NQ down in after-hours. Look
for a potential lower open in QQQ
and /NQ Friday morning.
On Thursday CSCO +5.50% and NTES +5.32% gained after EPS announcements, while NTAP -6.31% and WMT
-1.96% fell.
The broad indexes had another volatile day opening lower before an intra-day reversal
resulted with SPY, DIA and IWM forming a bullish piercing line
candle. QQQ formed a bullish engulfing candle.
SPY, DIA, QQQ and IWM are forming a right shoulder in their
inverse head & should price pattern.
The DJIA, closed up 208 points at 25,289, led by strength in MMM,
AAPL, CAT, JPM and V. This is the twelfth
straight close above 25,000.
Seven of eleven sectors were higher on Thursday, led
by technology XLK +2.51% and
energy XLE +1.47%.
SPY up 2.82 at 273.02 on 135.1 million
shares, 6% above average volume. Up on higher volume.
VIX down 1.27 at 19.98
Oil up .78 at 56.78
TLT down .05 at 114.04 on 7.8 million shares.
CSCO +5.50%, MMM +3.46%, led the DJIA, 22 advancers, +16.
ANET +6.41%, MU +4.94% and MCHP +4.62%, led the SPX.
JD +6.33%, TTWO +6.09%, XLNX +5.63%, and NTES +5.32% led
the NDX.
Intermediate and long
term up trend intact. 3-day short term trend is sideways.
Up: QQQ, IWM, SPY, DIA,
Down:
Breadth strengthened
on Thursday, as decliners led 1,698 to 1,252 on the NYSE and
led 2,087 to 957 on the NASDAQ
The SPY
MFC green line is pointed down at 40 and is short-term
bearish.
Uptrend sectors: XLU, XLP, XLRE,
Neutral sectors:
XLV, XLY, XLF, XLB,
Down trend sectors: XLK,
XLI, XLE, XLC,
The 6-month intermediate
and long-term trends are still up. The three-month trend is sideways.
The ten-day trend is up.
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Sideways
86 of 100 NDX stocks closed higher on Thursday.
65
NDX stocks are above their 30
DMA. SBUX, WBA, CDNS, TSLA, PEP,
XLNX, CMCSA, DLTR, ESRX, INTC, QRTEA, SHPG, CHTR, COST, MELI, AAL, BKNG, FOXA,
MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, MCHP, MYL, VRSK, WDAY, CTXS, HSIC,
ORLY, SNPS, XRAY, ADI, CSX, MAR, NXPI, TMUS, VOD, MXIM, NTES, ADP, AMAT, ASML,
AVGO, BIIB, CHKP, CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, INTU, JD, KLAC, LRCX,
MU, PAYX, PCAR, SNPS, STX, TXN,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 23
ADP, AMAT, ASML, AVGO, BIIB, CHKP,
CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, INTU, JD, KLAC, LRCX, MU, PAYX, PCAR,
SNPS, STX, TXN,
Moving Below 30 DMA = 1
EXPE,
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