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2020
NDX -166.65, -1.48%, gapped down to support and rallied from that area three times on Thursday. The selloff was led by weakness in AAPL, AMZN, MSFT, FB, GOOGL and TSLA.
SPX -28.48, -0.84%, closes at 3,357. SPX is a seven-day sideways consolidation on a bull flag price pattern.
Traders need to be prepared on Friday for a channel bounce above the high of the low day or a break of support.
Three of eleven sectors were higher on Thursday, led by XLB, XLI and XLE.
Basic Materials leaders: MOS, LYB, WRK, EMN
Industrials leaders: GE, AOS, TT, JBHT
Energy leaders: COP, FANG, MRO, DVN
SPY down -2.98 at 335.84 on 91.5 million shares, above average volume, down on higher volume.
VIX up +.42 at 26.46
WBA, DOW, CAT led the DJIA, 13 advancers, -1
The two-year trend term is up. The one-year trend is up.
Up:
Breadth weakened on Thursday as decliners led 1,839 to 1,168 on the NYSE and led 1,957 to 1,443 on the NASDAQ
The SPY MFC green line turned down at 35.1 and is bearish. Price action is a gap down to support in a 7-day W-pattern channel.
Uptrend sectors: XLB, XLY, XLI, XLK, XLP, XLC, XLV,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The ten-day trend is down.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
17 of 100 NDX stocks closed higher on Thursday.
35 NDX stocks are above their 30 DMA: CMCSA, CPRT, CSX, SBUX, AVGO, ULTA, MAR, EXPE, FOXA, JD, WDAY, ZM, ALXN, ALGN, NVDA, PAYX, TSLA, CTAS, CTSH, INTC, NXPI, QCOM, WDC, AMGN, CHTR, MU, ROST, SGEN, TCOM, BIDU, CDW, MRNA, TXN, ADP, VRTX,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
Moving Below 30 DMA = 6
CERN, COST, MDLZ, ORLY, VRSK, XEL,
Add Comments here:
NDX -166.65, -1.48%, gapped down to support and rallied from that area three times on Thursday. The selloff was led by weakness in AAPL, AMZN, MSFT, FB, GOOGL and TSLA.
SPX -28.48, -0.84%, closes at 3,357. SPX is a seven-day sideways consolidation on a bull flag price pattern.
Traders need to be prepared on Friday for a channel bounce above the high of the low day or a break of support.
Three of eleven sectors were higher on Thursday, led by XLB, XLI and XLE.
Basic Materials leaders: MOS, LYB, WRK, EMN
Industrials leaders: GE, AOS, TT, JBHT
Energy leaders: COP, FANG, MRO, DVN
SPY down -2.98 at 335.84 on 91.5 million shares, above average volume, down on higher volume.
VIX up +.42 at 26.46
WBA, DOW, CAT led the DJIA, 13 advancers, -1
The two-year trend term is up. The one-year trend is up.
Up:
Breadth weakened on Thursday as decliners led 1,839 to 1,168 on the NYSE and led 1,957 to 1,443 on the NASDAQ
The SPY MFC green line turned down at 35.1 and is bearish. Price action is a gap down to support in a 7-day W-pattern channel.
Uptrend sectors: XLB, XLY, XLI, XLK, XLP, XLC, XLV,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The ten-day trend is down.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
17 of 100 NDX stocks closed higher on Thursday.
35 NDX stocks are above their 30 DMA: CMCSA, CPRT, CSX, SBUX, AVGO, ULTA, MAR, EXPE, FOXA, JD, WDAY, ZM, ALXN, ALGN, NVDA, PAYX, TSLA, CTAS, CTSH, INTC, NXPI, QCOM, WDC, AMGN, CHTR, MU, ROST, SGEN, TCOM, BIDU, CDW, MRNA, TXN, ADP, VRTX,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
Moving Below 30 DMA = 6
CERN, COST, MDLZ, ORLY, VRSK, XEL,
Add Comments here:
1 comment:
Thank you, Dave! I sleep when the wind blows.
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