Bull Flag Day 3...INTC Falls After-hours...

© 2018

SPY, DIA, QQQ and IWM formed spinning top candles on Thursday in a three-day bull flag price pattern:

• SPY volume slips to 59 million, light selling for a range day,
• QQQ leads with positive EPS reactions from XLNX +9.99%, LRCX +6.44%, and TXN +6.91%
• PCG +74.59%, after the utility was cleared of causing wildfire in 2017,
• INTC -7.11% negative EPS reaction after-hours.

The DJIA, closed down 22 points at 24,553, led by weakness in MRK, JNJ, UTX, AAPL and PFE.  

Eight of eleven sectors were higher on Thursday, led by technology XLK +0.84% and energy XLE +0.53%.

SPY up .14 at 263.55 on 59.2 million shares, 54% below average volume. Up on lower volume.

VIX down .63 at 18.89 

Oil up .75 at 53.18

TLT up .79 at 121.11 on 7.1 million shares. 

INTC +3.80%, CVX +1.90%, led the DJIA, 13 advancers, -4

PCG +74.59%, TXN +6.91% and MU +6.86%, led the SPX.

XLNX +18.44%, LRCX +15.70%, AMAT +10.23%, and KLAC +7.01% led the NDX.

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

Up: IWM, QQQ, SPY,

Down: DIA,

Breadth strengthened on Thursday, as advancers led 1,958 to 944 on the NYSE and led 1,894 to 1,105 on the NASDAQ

The SPY MFC green line is pointed up at 78 and is short-term bullish.

Uptrend sectors:  

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

Down trend sectors:

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: Sideways

62 of 100 NDX stocks closed higher on Thursday.

84 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, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, AMD, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, NVDA, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MSFT, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

AAL, SYMC, UAL, WDC,

Moving Below 30 DMA = 4

CTXS, NTES, ORLY, PEP,

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