© 2019
Futures rose in the
pre-market after reports indicated the US was close to a preliminary trade deal
with China. The SPX did gap up
from a hammer candle pattern on Tuesday.
The SPX, DJI and NDX are did trigger a channel bounce
on Wednesday.
DJIA closed up 146 at 27,649 led by strength in GS, JPM, UNH, AAPL and JNJ. Closing
below 28,000 for the second day.
All eleven sectors were higher on Wednesday, led by XLE, XLF and XLV.
SPY up 1.91 at 311.46 on 49.1 million shares, below average volume. Up on lower volume.
VIX down 1.16 at 14.80
Oil up 2.03 at 58.35
TLT down 1.41 at 139.80 on 8.5 million shares
GLD down .19 at 138.92
JPM, GS, JNJ led the DJIA, 23 advancers, +18
LB, CPRI, PXD led the SPX, 388 advancers
EXPE, MCHP, ADI, KLAC led the NDX, 71 advancers
Long term up
trend intact. 3-day short term trend is down.
Up: IWM, SPY,
DIA, QQQ,
Down:
Breadth strengthened
on Wednesday as advancers led 2,044 to 914 on the NYSE and
led 1,965 to 1,189 on the NASDAQ
The SPX
MFC green line is above 80, is turned down at 82 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 sideways.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
71 of 100 NDX stocks
closed higher on Wednesday.
62 NDX stocks are above their 30 DMA: AAPL, CTXS, ALGN, CELG,
SWKS, TSLA, ISRG, ORLY, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD,
INCY, VRTX, ISRG, WBA, FOXA, ALXN, FB, MAR, AVGO, BMRN, MSFT, NFLX, HSIC,
ADBE, ADSK, BIDU, EA, FISV, LULU, ADP, MNST, WLTW, PAYX, MELI, CERN,
ILMN, GILD, PYPL, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL,
TTWO, ADI, ASML, MCHP, NTAP, NVDA, NXPI, TXN, ULTA, XEL,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 9
ADI, ASML, MCHP, NTAP, NVDA, NXPI,
TXN, ULTA, XEL,
Moving Below 30 DMA = 4
ATVI, CHTR, CTSH, WDAY,
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