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The SPX opened higher as trade
talks appear to continue to progress. Once
again the SPX pulled back to the
previous day’s close during the first 90 minutes of trading. Buyers took control mid-morning and the SPX closed up 10 points.
SPY closed above its Dec 10 low and
its 30 DMA to join QQQ and IWM at the low end of a sideways channel. DIA at its Dec 10 low and
just below its 30 DMA.
SPY and SPX formed a neutral spinning top as
volume was below average. Watch for a potential move below the low of
the high day (today) on Thursday.
The DJIA, closed up 91 points at 23,879, led by strength in BA, AAPL,
HD, V and CVX.
Eight of eleven sectors were higher on Wednesday, led by energy XLE +1.58% and technology XLK +1.29%.
SPY up 1.20 at 257.97 on 95.0 million
shares, 33% below average volume. Up on lower volume.
VIX down .49 at 19.98
Oil up 2.13 at 52.16
TLT down .19 at 121.24 on 9.3 million shares.
AAPL +1.70%, MSFT +1.43%, led the DJIA, 19 advancers, -7
LEN +7.93%, DLPH +6.99% and SWN +6.33%, led the SPX.
ISRG +7.06%, NTES +6.61%, LRCX +5.16%, and MU +5.04% led the NDX.
Long term up
trend intact. 3-day short term trend is up.
Up: IWM, QQQ,
SPY, DIA,
Down:
Breadth weakened
on Wednesday, as advancers led 1,978 to 936 on the NYSE and led 1,988 to 1,042 on the NASDAQ
The SPY
MFC green line is pointed up at 43 and
is short-term bullish.
Uptrend sectors:
Neutral sectors:
XLU, XLRE, XLB, XLY, XLC, XLV,
Down trend sectors: XLI,
XLK, XLP, XLF, 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
67 of 100 NDX stocks closed higher on Wednesday.
57
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, GOOGL,
INTC, JD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, AMD, ATVI, CTAS, MELI, NTES, TXN,
ULTA, VRSN, ADBE, ADSK, BMRN, CHKP, HAS, INTU, MCHP, TTWO, ADI, ALXN, AMAT, ASML,
AVGO, FOXA, IDXX, ISRG, KLAC, LRCX, MU, NXPI, ORLY, SNPS,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 14
ADI, ALXN, AMAT, ASML, AVGO, FOXA,
IDXX, ISRG, KLAC, LRCX, MU, NXPI, ORLY, SNPS
Moving Below 30 DMA = 2
EXPE, SIRI,
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