Wednesday's Broad Rally Pauses on Thursday, Trades Above S1

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SPY opened lower on Thursday and traded in a range that stayed above the S1 level of Wednesday’s large white candle.  

The DJIA, closed down 27 points at 25,338, led by weakness in GS, V, HD, AXP and UTX.  This is the second close above 25,000 since Nov 19.

Seven of eleven sectors were higher on Thursday, led by materials XLB +0.72% and energy XLE +0.65%.

SPY down .60 at 274.58 on 82.3 million shares, 27% below average volume. Down on lower volume.

VIX up .30 at 18.79 

Oil up .95 at 51.26

TLT up .45 at 114.45 on 7.2 million shares. 

BA +2.72%, PFE +1.36%, led the DJIA, 12 advancers, -17

NLSN +4.02%, CXO +3.06% and GE +2.58%, led the SPX.

DLTR +6.13%, MELI +3.53%, ATVI +3.02%, and QCOM +2.58% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up:  

Down: DIA, SPY, IWM, QQQ,

Breadth weakened on Thursday, as decliners led 1,556 to 1,376 on the NYSE and led 1,650 to 1,397 on the NASDAQ

The SPY MFC green line is pointed up at 45 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLP,

Neutral sectors:  XLV, XLF, XLB, XLY, XLI,

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

36 of 100 NDX stocks closed higher on Thursday.

71 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, MAR, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, ASML, BKNG, BMRN, COST, CTSH, EBAY, FISV, GOOGL, HAS, ISRG, PYPL, REGN, SNPS, TMUS, DLTR, INTU, LBTYA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

DLTR, INTU, LBTYA,

Moving Below 30 DMA = 8

BIDU, CDNS, CHKP, EXPE, INCY, JBHT, MU, STX,

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