© 2019
The 10-year treasury yield TNX rolled over about 10:30 am and fell
to a new one year low over the next one hour. As it did, the SPY fell -3.50 to a daily
low of 277.93, as yields bounced SPY rallied into the close.
The DJIA, closed down 32 points at 25,625, led by weakness in UNH, CVX, MSFT, WMT and V.
One of eleven sectors was higher on Wednesday, led by industrials XLI +0.11% and materials XLB -0.13%.
SPY down 1.47 at 279.65 on 72.2 million shares, 6%
below average volume. Down on higher volume.
VIX up .47 at 15.15
Oil down .64 at 59.40
TLT up 1.15 at 126.12 on 14.2 million shares.
BA +1.03%, TRV +1.01%, led the DJIA, 9 advancers, -16
WCG +12.34%, PHM +5.11% and LEN +3.94%, led the SPX.
CTRP +3.73%, TSLA +2.64%, AAL +2.42%, and DLTR +2.41%, led the NDX.
Long term up trend intact. 3-day short term trend is sideways.
Up:
Down: DIA, IWM, SPY, QQQ
Breadth weakened
on Wednesday, as decliners led 1,554 to 1,319 on the NYSE
and led 1,745 to 1,292 on the NASDAQ
The SPY
MFC green line moved below the upper zone, pointed down at 73 and is short-term
defensive. Watch for a
second bull flag bounce.
Uptrend sectors: XLRE, XLU, XLC, XLK, XLI, XLY, XLP,
Neutral sectors:
XLB, XLV, XLF, XLE,
Down trend sectors:
The 6-month intermediate
trend is sideways. The ten-day trend is up.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
25 of 100 NDX stocks closed higher on Wednesday.
59
NDX stocks are above their 30
DMA: CDNS, CTRP, PYPL, TMUS, XLNX, MELI,
ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP,
CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, CHTR, INTC, MSFT, COST, QCOM, XRAY,
DLTR, ISRG, AMZN, INCY, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, LRCX,
ALGN, AVGO, ORLY, AMD, EBAY, WDAY, EA, FISV, ADBE, ALXN, FB, CELG, VRTX, FAST,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
FAST,
Moving Below 30 DMA = 7
ADI, AMAT, AMGN, ASML, ILMN, MAR, TXN,
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