Wednesday, April 3, 2019

Gap, Pullback, Rally on SPY...Another Higher Close Trading Range...


© 2019


The DJIA, closed up 39 points at 26,218led by strength in HD, GS, UNH, AAPL and INTC.  Third straight close above 26,000 since March 1.

Five of eleven sectors were higher on Wednesday, led by materials XLB +1.31% and technology XLK +0.81%.

SPY up .45 at 286.42 on 68.2 million shares, 9% below average volume. Up on higher volume.
VIX up .38 at 13.74
Oil down .10 at 62.49
TLT down 1.08 at 123.52 on 10.4 million shares. 

DWDP +2.36%, HD +2.21%, led the DJIA, 16 advancers, +7
NLSN +7.22%, DLPH +6.09% and NKTR +4.72%, led the SPX.
AMD +8.49%, LBTYA +4.03%, LRCX +3.95%, and NXPI +3.65%, led the NDX.

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

Up: QQQ, IWM, SPY, DIA,
Down:

Breadth strengthened on Wednesday, as advancers led 1,672 to 1,183 on the NYSE and led 1,786 to 1,230 on the NASDAQ

The SPY MFC green line is pointed up at 87 and is bullishDid you see the gap, test and rally today?

Uptrend sectorsXLRE, XLU, XLP, XLY, XLK, XLI, XLC, XLB,
Neutral sectors:  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 TrendUp


75 of 100 NDX stocks closed higher on Wednesday.

89 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, WDAY, EA, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TSLA, TXN, VRTX, WDC, WYNN, AAL, BMRN, BKNG, CTXS, JBHT, LBTYA UAL,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
BKNG, CTXS, JBHT, LBTYA UAL,

Moving Below 30 DMA = 2
INCY, REGN,

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