Santa Claus Rally Day 2 Bounces from Wednesday's S1 and Closes Higher..

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SPY, DIA and QQQ all pulled back to S1 of Wednesday’s large white candle and bounced.  This is day two of a counter trend bounce.

The DJIA, closed up 260 points at 23,188, led by strength in MMM, BA, UNH, GS and IBM.  This is the fifteenth close below 25,000 since Dec 6.

All eleven sectors were higher on Thursday, led by materials XLB +1.84% and industrials XLI +1.25%.

SPY up 1.89 at 248.07 on 186.2 million shares, 35% above average volume. Up on lower volume.

VIX down .45 at 29.96 

Oil down 1.20 at 45.41

TLT up .02 at 120.04 on 12.7 million shares. 

MMM +2.38%, IBM +2.15%, led the DJIA, 28 advancers, -2

FOSL +3.64%, CRM +3.33% and LMT +3.25%, led the SPX.

MU +3.37%, WDAY +3.04%, AMAT +2.97%, and JD +2.84% led the NDX.

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

Up:  DIA, SPY, IWM, QQQ

Down:

Breadth weakened on Thursday, as advancers led 1,604 to 1,353 on the NYSE and led 1,557 to 1,492 on the NASDAQ

The SPY MFC green line turned up at 13 and is short-term bullish.

Uptrend sectors:  

Neutral sectors:  XLU, XLRE, XLB,

Down trend sectors: XLV, XLP, XLI, XLY, XLC, XLK, XLF, XLE,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

79 of 100 NDX stocks closed higher on Thursday.

12 NDX stock is above its 30 DMA:  NTES, AVGO, CTRP, DLTR, REGN, WDAY, XRAY, JD, PCAR, PYPL, QCOM, TTWO,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

JD, PCAR, PYPL, QCOM, TTWO,

Moving Below 30 DMA = 0

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