SPX/SPY Rally and Regain Tuesday's Pullback, Short-term Trend is Up...

© 2019

TGT and LOW had positive EPS reactions today and HD and MDT continued to rise following a positive EPS reaction on Tuesday. 

The DJIA, closed up 240 points at 26,202, led by strength in BA, HD, AAPL, MCD and NKE.  Closing below 27,000 for the sixteenth straight day.  

All eleven sectors were higher on Wednesday, led by discretionary XLY +1.93% and technology XLK +1.18%.

SPY up 2.36 at 292.45 on 49.7 million shares, 34% below average volume.  Up on slightly lower volume, completely reversing Tuesday’s pullback.

VIX down 1.70 at 15.80

Oil down .27 at 55.85

TLT down .97 at 144.56 on 9.3 million shares. 

NKE +2.74%, BA +2.48%, led the DJIA, 29 advancers, +26

TGT +20.43%, LOW +10.35% and ADS +5.60% led the SPX.

AMD +3.19%, ALXN +3.06%, MELI +2.86% and DLTR +2.62% led the NDX.

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

Up:  DIA, QQQ, IWM, SPY,

Down:

Breadth strengthened on Wednesday, as advancers led 2,100 to 854 on the NYSE and led 2,102 to 979 on the NASDAQ

The SPY MFC green line turned up at 38 and is short-term bullish. 

Uptrend sectors: XLRE, XLU, XLP, XLY, XLK, XLB,

Neutral sectors:  XLC, XLV, XLI, XLF,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

84 of 100 NDX stocks closed higher on Wednesday.

39 NDX stocks are above their 30 DMA:  CTAS, SBUX, FISV, WDC, AMGN, CELG, KLAC, TTWO, VRSK, BKNG, VRTX, LRCX, NTES, NXPI, SYMC, GOOGL, JD, PEP, AAPL, ADP, HAS, INCY, JBHT, TXN, ATVI, CMCSA, EA, FAST, IDXX, MSFT, MYL, NVDA, QCOM, BIDU, AVGO, EBAY, MDLZ, ROST, SIRI,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

AVGO, EBAY, MDLZ, ROST, SIRI,

Moving Below 30 DMA = 0

Add Comments here