GS Leads DJIA, Financial Sector Leads SPX, Potential Tombstone Doji Forms on SPX...

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Choppy SPX price action was the pattern again on Wednesday.  SPY forms potential tombstone doji.  Watch for a potential pullback if price falls below Wednesday’s low.

• Strong positive earnings reactions from GS, BAC, SCHW, CMA and USB on Wednesday as the financial sector led the SPX.
• EU considering Brexit extension to 2020.
• PM May survives no-confidence vote.
• AAPL, AMZN, GOOGL and MSFT close up, while NDX closes down -1.08 on weakness in FB, INTC, AVGO, NFLX, PYPL, BIIB, GILD.

The DJIA, closed up 141 points at 24,207, led by strength in GS, UNH, AAPL, AXP and CAT.  

Six of eleven sectors were higher on Wednesday, led by financial XLF +2.13% and real estate XLRE +0.47%.

SPY up .63 at 260.98 on 77.6 million shares, 44% below average volume. Up on lower volume.

VIX up .44 at 19.04 

Oil up .33 at 52.32

TLT up .12 at 120.16 on 6.0 million shares. 

GS +9.54%, UNH +1.79%, led the DJIA, 14 advancers, -9

BAC +7.16%, SCHW +5.54% and CMA +5.52%, led the SPX.

UAL +6.35%, ALGN +6.02%, WYNN +3.46%, and NTES +2.91% led the NDX.

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

Up: IWM, DIA SPY,

Down: QQQ,

Breadth weakened slightly on Wednesday, as advancers led 1,798 to 1,081 on the NYSE and led 1,871 to 1,148 on the NASDAQ

The SPY MFC green line is pointed up at 56 and is short-term bullish.

Uptrend sectors:  

Neutral sectors:  XLU, XLRE, XLB, XLY, XLC, XLV, XLI, XLK, XLP, XLF,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

44 of 100 NDX stocks closed higher on Wednesday.

79 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMGN, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, INTC, JD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, AMD, CTAS, MELI, NTES, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, TTWO, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, CERN, CTXS, FAST, JBHT, MDLZ, MNST, NVDA, PAYX, SWKS, WLTW, CSX, MYL, ALXN, CMCSA, CTSH, EXPE, GOOGL, IDXX, KHC, MAR, MSFT, MXIM, MYL, NTAP,ORLY, TSLA, VRSK, ALGN, BIDU, LBTYA, UAL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

ALGN, BIDU, LBTYA, UAL,

Moving Below 30 DMA = 6

ASML, CHKP, COST, FISV, FOXA, HSIC, 

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