Indexes Fall after Global Growth and US/China Trade-talk Concerns Surface....

© 2019

SPY, DIA, QQQ and IWM pulled back on Thursday in a bull flag pattern and formed a hammer candle pattern, after a late rally:

• Futures dropped over night after German industrial output fell for the fourth straight month in December and Fitch issued a risk concern on open ended bond funds,
• Markets fell sharply this morning after WH Advisor Larry Kudlow indicated that there is a sizable distance to go in US/China trade talks,
• TPR -5.83, -14.83% on a negative earnings reaction,
• HBI, SEE, MAS and CAH gapped up on positive EPS reactions,
• CMG +59.72, +11.35% gapped up on a positive earnings reaction,
• XLRE hit another new closing high today at 34.57
• St. Louis Fed president James Bullard indicated today he considers current level of rates somewhat restrictive.

The DJIA, closed down 220 points at 25,169, led by weakness in BA, GS, AAPL, MMM and CAT. 

Two of eleven sectors were higher on Thursday, led by utilities XLU +1.32% and real estate XLRE +0.85%.

SPY down 2.60 at 270.14 on 95.4 million shares, 8% below average volume. Down on higher volume.

VIX up .99 at 16.37 

Oil down 1.29 at 52.61

TLT up .80 at 121.83 on 8.7 million shares. 

WMT +1.14%, TRV +0.96%, led the DJIA, 3 advancers, -11

HBI +20.17%, CMG +11.35% and STI +10.18%, led the SPX.

EA +4.85%, TTWO +4.17%, ORLY +3.35%, and ATVI +2.23% led the NDX.

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

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Thursday, as decliners led 2,000 to 894 on the NYSE and led 2,052 to 952 on the NASDAQ

The SPY MFC green line is in the upper zone at 97 and is short-term bullish.

Uptrend sectors: XLRE, XLC,

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

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

24 of 100 NDX stocks closed higher on Thursday.

87 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, WBA, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, HSIC, MSFT,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

  

Moving Below 30 DMA = 5

AMZN, BIIB, GILD, SIRI, VRTX,

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