© 2021
The
SPX opened lower and traded down to one week support where selling
exhausted, buyers took control and formed a hammer on Wednesday. Semiconductor
stocks helped lift the QQQ.
Seven of the top 10 gainers were semiconductors led by ADI, MRVL, MXIM and KLAC.
DJI –164.62, -0.48%, closed at 33,896. GS, BA, CVX and CAT were the
largest point decliners on Wednesday.
NDX +20.29, +0.15%, closed at 13,237.
SPX -12.15, -0.29%, closed
at 4,115.
TSLA -2.49%, opens at 3-month
support.
SPY =
channel bounce setup.
DIA =
channel bounce setup.
QQQ =
channel bounce setup.
IWM =
channel bounce setup.
Two of
eleven
sectors were higher on Wednesday, led by XLK,
XLC and XLU.
Technology leaders: ENPH, ADI, MXIM, KLAC
Communication Services leaders: TTWO,
FB, ATVI, EA
Utilities leaders: EVRG, DTE, AWK, NEE
SPY down 1.08 at 410.86, on 106.4 million shares, above average volume, down on higher volume.
VIX up 1.62 at 21.34
CRM, INTC, PG, MSFT led the DJIA, 5 advancers, +1
TTWO, ENPH, TGT, MCHP led the SPX, 202 advancers.
ADI, MRVL, MXIM, PDD led the NDX, 57 advancers.
The two-year trend term is up. The one-year trend is up.
Up: QQQ,
Down: SPY, DIA, IWM,
Advancers weakened on Wednesday as decliners led 1,170 to 2,139 on the NYSE and
led 2,670 to 1,585 on the NASDAQ.
The SPY MFC green line
is pointed down at 54 and is defensive. SPY
is a channel bounce setup at support.
Uptrend sectors: XLF, XLP, XLB, XLE, XLRE, XLV, XLI, XLU,
XLC, XLY, XLK,
Neutral sectors:
Down trend sectors:
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
57 of 100 NDX stocks
closed higher on Wednesday.
26 NDX stocks are above their 30 DMA: ORLY, XEL, COST, CERN, VRSN, ALXN, CHTR, MDLZ,
KHC, PEP, BIIB, GILD, TMUS, REGN, SGEN, CSCO, PAYX, WBA, EXC, INTU, WDC, TCOM,
NTES, ATVI, FB, MXIM,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 3
ATVI, FB, MXIM,
Moving Below 30 DMA = 4
ADP, AMGN, EBAY, FAST,
Add Comments
here:
1 comment:
Thank you so much, Dave. Your daily blog is such a great tool to help me stay in flow with the market.
Post a Comment