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SPY opened lower below Tuesday’s
low as futures fell overnight. Selling exhausted
just before noon when support was hit and the SPY rallied more than $6 and finished down just 41 cents on
Thursday.
The DJIA, closed down 79 points at 24,947, led by weakness in BA, JPM, AAPL, UNH and CVX. This is the first close
below 25,000 since Nov 27.
Six of eleven sectors were higher on Thursday, led by real estate XLRE +2.7% and communications XLC +1.12%.
SPY down .41 at 269.84 on 204.1 million shares, 76% above average
volume. Down on higher volume.
VIX up .45 at 21.19
Oil down 1.21 at 51.71
TLT up .37 at 118.19 on 15.3 million shares.
CSCO +2.20%, IBM +1.90%, led the DJIA, 14 advancers, +14
WY +6.45%, HPE +6.45% and KIM +5.31%, led the SPX.
TTWO +4.44%, NTES +3.94%, SHPG +3.87%, and ATVI +3.50% led
the NDX.
Long term up
trend intact. 3-day short term trend is down.
Up: QQQ,
Down: SPY,
IWM, DIA,
Breadth strengthened
on Thursday, as decliners led 1,823 to 1,139 on the NYSE
and led 1,901 to 1,184 on the NASDAQ
The SPY
MFC green line is turned down at 65 and is short-term bearish.
Uptrend sectors: XLRE, XLU, XLP, XLV,
Neutral sectors:
XLI, XLF, XLB, XLY,
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: Down
56 of 100 NDX stocks closed higher on Thursday.
59 NDX stocks are above their 30
DMA. SBUX, WBA, TSLA, PEP, XLNX,
CMCSA, INTC, AAL, FOXA, MDLZ, MNST, SYMC, FAST, MCHP, CTXS, XRAY, ADI, NXPI,
MXIM, NTES, AMAT, HOLX, KLAC, PAYX, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN,
CSCO, HSIC, ILMN, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN,
BKNG, EBAY, ISRG, PYPL, REGN, DLTR, CELG, BMRN, COST, EXPE, GILD, GOOGL,
INTU, SHPG, SNPS,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 8
BMRN, COST, EXPE, GILD, GOOGL,
INTU, SHPG, SNPS,
Moving Below 30 DMA = 10
AVGO, CSX, CTAS, CTRP, CTSH, INCY, LRCX,
ORLY, PCAR, VRSK,
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