Late Rally Follows Report of Potential Tariff Easing...NFLX Drops After-hours...

© 2018

Lower SPX open followed by reversal.  Mid-afternoon rally sends SPX higher. 

• Negative earnings reactions from MS and CSX.
• WSJ report that US is considering easing China tariffs.
• NFLX -3.82% on EPS beat with revenues missing.

The DJIA, closed up 162 points at 24,370, led by strength in BA, CAT, MMM, GS and UTX.  

All eleven sectors were higher on Thursday, led by materials XLB +1.76% and industrials XLI +1.71%.

SPY up 1.98 at 262.96 on 96.1 million shares, 31% below average volume. Up on higher volume.

VIX down .98 at 18.06 

Oil up .16 at 52.48

TLT up .03 at 120.19 on 8.1 million shares. 

DWDP +2.96%, CAT +2.19%, led the DJIA, 24 advancers, +10

MTB +5.69%, PPG +4.70% and GT +3.79%, led the SPX.

FAST +5.95%, ISRG +3.56%, REGN +3.17%, and JBHT +3.06% led the NDX.

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

Up: IWM, DIA, QQQ, SPY,

Down:

Breadth strengthened slightly on Thursday, as advancers led 2,070 to 843 on the NYSE and led 1,901 to 1,131 on the NASDAQ

The SPY MFC green line is pointed up at 58 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

81 of 100 NDX stocks closed higher on Thursday.

88 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, UAL, AAL, ADP, CHKP, COST, CSCO, FISV, ILMN, MU, SBUX, SIRI,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 10

AAL, ADP, CHKP, COST, CSCO, FISV, ILMN, MU, SBUX, SIRI,

Moving Below 30 DMA = 1

LBTYA,

Add Comments here