Bull Flag Day 4 Counter-trend Pullback....COST +5.03% After-hours...

© 2019

Break of Support Setups:  AAL, AMD, ASML, BKNG, EXPE, IDXX, MAR, MCHP, MU, MXIM, UAL, WDC, WYNN, HD

The DJIA, closed down 200 points at 25,473, led by weakness in MMM, UNH, CAT, AAPL and GS. 

One of eleven sectors was higher on Thursday, led by utilities XLU +0.22% and real estate XLRE -0.09%.

SPY down 2.32 at 275.01 on 94.8 million shares, 24% above average volume. Down on higher volume.

VIX up .85 at 16.59

Oil up .21 at 56.40

TLT up .78 at 121.06 on 8.1 million shares. 

VZ +1.11%, XOM +1.11%, led the DJIA, 4 advancers, -5

CTL +4.76%, AGN +3.99% and GE +3.73%, led the SPX.

EA +4.84%, DLTR +2.80%, NXPI +2.39%, and TTWO +1.39% led the NDX.

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

Up:

Down: DIA, SPY, IWM, QQQ,

Breadth strengthened slightly on Thursday, as decliners led 2,021 to 866 on the NYSE and led 2,070 to 969 on the NASDAQ

The SPY MFC green line is pointed down in the upper zone at 83 and is nearing 80.  Watch for a potential move below 80 and into a defensive posture if the broad market fails to bounce.

Uptrend sectors: XLRE, XLC, XLI, XLU, XLB,

Neutral sectors:  XLK, XLY, XLV, XLP, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

12 of 100 NDX stocks closed higher on Thursday.

54 NDX stocks are above their 30 DMA:  ROST, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, XLNX, CTAS, MELI, ULTA, VRSN, ADBE, INTU, ADI, KLAC, NXPI, SNPS, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, GOOGL, VRSK, ADP, CHKP, CSCO, FISV, SBUX, ASML, FOXA, LBTYA, CMCSA, JD, MAR, AAPL, ORLY, PEP, CHTR, INTC, MSFT, COST, HSIC, QCOM, SIRI, XRAY, DLTR, EA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

EA,

Moving Below 30 DMA = 12

AMZN, BIDU, EXPE, FAST, ILMN, INCY, ISRG, MCHP, NVDA, REGN, TXN, WDC,

 

Add Comments here