© 2019
Wednesday Recap:
- TGT +15.58, +14.06% and LOW +4.43, +3.91% on positive EPS reactions.
- FOMC minutes at 2 pm ET was a non-event in the SPX which bottomed earlier following trade news.
- Hong Kong bill passes the House after the close and futures start the evening session lower.
SPY,
DIA, QQQ pull back after news that trade deal may not be signed
this year, form long-tailed hammers and bull flag setups
for Thursday.
DJIA closed down 112 points at 27,821 led by weakness in HD, AAPL, MMM, GS and UTX. Closing
below 28,000 for the second straight day.
Four of eleven sectors were higher on Wednesday, led by XLE, XLU, XLP and XLRE. Energy and defensive sectors gained on today’s broad market
pullback.
SPY down 1.16 at 310.77 on 79.5 million shares, above average
volume. Down on higher volume.
VIX down .08 at 12.78
Oil up 1.84 at 57.09
TLT up 1.44 at 140.60 on 7.9 million shares
GLD up .07 at 138.76
BA, JNJ, CVX led the DJIA, 9 advancers, -6
TGT, GCI, SLB led the SPX, 176 advancers
WDAY, MELI, WDC, NVDA led the NDX, 23 advancers
Long term up
trend intact. 3-day short term trend is down a little.
Up:
Down: SPY, IWM,
DIA, QQQ,
Breadth weakened
on Wednesday as decliners led 1,655 to 1,277 on the NYSE
and led 1,937 to 1,210 on the NASDAQ
The SPX
MFC green line is above 80, turned down at 97 and is counter-trend
defensive.
Uptrend sectors: XLK, XLV, XLC, XLP, XLF, XLI, XLB,
Neutral sectors:
XLY, XLE, XLU, XLRE,
Down trend sectors:
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: Down a little
23 of 100 NDX stocks
closed higher on Wednesday.
66 NDX stocks are above their 30 DMA: KLAC, AAPL, ASML, CTXS, ALGN, CELG, CHTR, NVDA,
COST, SWKS, TSLA, INTC, ISRG, ORLY, AMGN, REGN, FAST, GOOGL, NTES,
PCAR, SIRI, AMD, INCY, VRTX, ISRG, NTAP, QCOM, UAL, WBA, FOXA, BIIB,
KHC, ALXN, FB, MAR, AMAT, AVGO, BMRN, LRCX, MSFT, NFLX, CHKP, NXPI, HSIC,
ADBE, ADSK, CTSH, BIDU, CDNS, EA, FISV, LULU, ADP, MNST, SNPS, WLTW,
INTU, PAYX, VRSN, WDAY, MELI, PYPL, TTWO, CERN, ILMN, GILD,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 7
AAL, ADI, JBHT, JD, MU, ROST, WYNN,
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