SPX, DJIA, NDX Post Weekly Gain After 3-week Decline...

© 2018

SPY, DIA and QQQ after hitting a market low on Monday, rallied and finished it first weekly gain in four weeks, forming a piercing line on the weekly chart.

The DJIA, closed down 76 points at 23,062, led by weakness in GS, MMM, V, CAT and PG.  This is the sixteenth close below 25,000 since Dec 6.

Four of eleven sectors were higher on Friday, led by real estate XLRE +0.36% and utilities XLU +0.25%.

SPY down .32 at 247.75 on 153.1 million shares, 10% above average volume. Down on lower volume.

VIX down 1.62 at 28.34 

Oil down .29 at 45.12

TLT up 1.01 at 121.05 on 9.8 million shares.

INTC +0.84%, DIS +0.73%, led the DJIA, 7 advancers, -21

GE +3.30%, DISH +2.38% and COTY +2.37%, led the SPX.

TSLA +5.61%, AMAT +2.63%, NVDA +1.89%, and AMD +1.89% led the NDX.

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

Up:  IWM,

Down: QQQ, SPY, DIA

Breadth strengthened on Friday, as advancers led 1,920 to 1,053 on the NYSE and led 2,094 to 970 on the NASDAQ

The SPY MFC green line pointed up at 18 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

38 of 100 NDX stocks closed higher on Friday.

9 NDX stock is above its 30 DMA:  NTES, AVGO, CTRP, DLTR, REGN, WDAY, XRAY, JD, QCOM,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

PCAR, PYPL, TTWO,

Add Comments here