© 2020
SPX: 3,357.75, DJI: 29,551.42, Nasdaq
100: 9,517.86, Nasdaq Composite: 9,638.94, made new all-time closing highs
again today. As
Dave mentors live each day: “Trade with the trend as long as it continues.”
Ten
of eleven
sectors were higher on Wednesday, led by XLE, XLC and XLK.
SPY up 2.16 at 337.42 on 43.9 million shares, below average volume. Up on lower volume.
VIX down 1.44 at 13.74
UNH, NKE, WBA led the DJIA, 20 advancers, +4
IPG, FOSL, ANTM led the SPX, 363 advancers
CSGP, MELI, MU, ALGN led the NDX, 85 advancers
Long term up
trend intact. 3-day short term trend is up.
Up: QQQ, DIA,
IWM, SPY,
Down:
Breadth weakened
on Wednesday as advancers led 1,765 to 1,156 on the NYSE and led 1,958 to 1,254 on the NASDAQ
The SPX
MFC green line is above 80 and at 94 and is short-term
bullish.
Uptrend sectors: XLK, XLP, XLY, XLF, XLI, XLU, XLRE,
XLC, XLV,
Neutral sectors:
XLB,
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
85 of 100 NDX stocks
closed higher on Wednesday.
80 NDX stocks are above their 30 DMA: AAPL, MSFT, ADBE,
ADSK, LULU, MNST, WLTW, VRSK, GOOGL, TSLA, ULTA, CSX, PYPL, CTAS, CDNS,
INTU, XEL, EXC,
NFLX, SNPS, INTC, ANSS, CPRT, CSGP, SPLK, CTXS, WDAY, VRTX, PAYX,
COST, CHKP, PEP, AMZN, MDLZ, CHTR,
ADP,
CTSH, GILD, JD, LRCX, NTES, WDC, AAL, AMAT, AMD, ASML, CERN, EBAY, FAST, MXIM,
NVDA, NXPI, TMUS, AVGO, BIIB, BMRN, CSCO, MU, REGN, ROST, SGEN, TXN, ATVI,
IDXX, MCHP, SIRI, ADI, BIDU, ISRG, LBTYA, MAR, QCOM, CMCSA, EXPE, FOXA,
KLAC, MELI, NTAP, SWKS, WBA,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 8
CMCSA,
EXPE, FOXA, KLAC, MELI, NTAP, SWKS, WBA,
Moving Below 30 DMA = 1
FISV,
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