© 2021
Futures
moved lower in pre-market after Powell
spoke on an NPR interview this morning. SPX
finds a bottom during first 45 minutes of trading followed by an upside
reversal.
The DJI +199.42, +0.62%, closed at 32,619. BA, HD, AXP and TRV were the
largest point gainers on Thursday.
NDX -18.37, -0.14%, is a channel bounce setup.
SPX +20.38, +0.56%, closed
at 3,909, forming a piercing line
candle in a bull flag price pattern.
TSLA +1.61%, opened
lower and closed above Friday’s short-term support low and is a channel bounce
setup.
Nine
of eleven
sectors were higher on Thursday, led by XLF,
XLI and XLB.
Financial leaders: CMA, CFG, RF, LNC
Industrials leaders: AAL,
UAL, SNA, LUV
Basic Materials leaders: WRK, NUE, CE, IP
SPY up 2.18 at 389.70, on 116.1 million shares, above average volume, up on higher volume.
VIX down 1.39 at 19.81
BA, AXP, TRV, DOW led the DJIA, 23 advancers, +8
DRI, GCI, SWN, EXPE led the SPX, 400 advancers.
BIIB, ROST, BKNG, PDD led the NDX, 56 advancers.
The two-year trend term is up. The one-year trend is up.
Up: IWM, DIA, SPY,
Down: QQQ,
Advancers strengthened on Thursday as advancers led 2,137 to 1,136 on the NYSE and
led 2,670 to 1,511 on the NASDAQ.
The SPY MFC green line
is pointed down and fell 1.3 to 68.1 and is defensive. Price action is a bull flag setup.
Uptrend sectors: XLC, XLI, XLF, XLB, XLRE, XLE, XLY,
XLV, XLK,
Neutral sectors: XLP, XLU,
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
56 of 100 NDX stocks
closed higher on Thursday.
34 NDX stocks are above their 30 DMA: CMCSA, KHC, FOXA, FISV, ADP, ORLY, CSCO, PAYX,
AEP, XEL, AMAT, EXC, FB, MDLZ, CHTR, CTSH, WBA, SIRI, TXN, FAST, AMGN, DLTR, PEP,
CSX, MNST, COST, ASML, CERN, BIIB, CDW, MAR, NXPI, SBUX, TMUS,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 6
BIIB, CDW, MAR, NXPI,
SBUX, TMUS,
Moving Below 30 DMA = 3
GILD, VRSK, VRSN,
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5 comments:
DUMMY ME!!! I did not realize you will still posting these, Dave! WTH was I not thinking! Gonna be a regular, now. Miss your trade rooms, big time! Taking fam out West this summer. Thinking about seeing a friend, Ward, off North 1500. Wouldn't be able to make the trip if not for you and your coaching! Thanks for everything!
If Powell will just give us the courtesy .....and stay Off all media outlets. Please, Jeromeo, please! Thank you, Dave!
Steve...you're welcome...let me know if you make it out this way to see if we can visit...Dave
Ben...very well said :), you're welcome as always...Dave
Dave is the best mentor I've ever encountered. I hope all is well with you.
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