© 2021
Wednesday was another light volume, narrow trading range
day as DJI/DIA and SPX/SPY made new all-time closing highs.
July CPI report was near the consensus estimate and the Core CPI
was lower than forecast. The futures
rose BMO after the CPI report came out.
MRNA -71.43, -15.64% fell for the second straight day, after making a new all-time high
Tuesday morning. MRNA is down over
20% from Monday’s closing high.
SPY up 1.10, at 443.78, on 44.0 million shares, below average volume, up on similar volume.
VIX down .73 at 16.06
QQQ down .63, -0.17% at 366.21
CAT, WBA, DOW, HD led the DJIA, 25 advancers, +3
NLOK, URI, NUE, MHK led the SPX, 377 advancers.
PCAR, CSX, SPLK, CTSH led the NDX, 63 advancers.
The two-year trend term is up. The one-year trend is up.
Up: DIA, IWM, SPY,
Down: QQQ,
SPY = All-time
high.
DIA = All-time high.
QQQ = Bull
flag and re-BO setup.
IWM =
Mid-channel bounce.
Ten of
eleven
sectors were higher on Wednesday, led by XLB,
XLI and XLF.
Basic Materials leaders: NUE,
VMC, MLM, LYB
Industrials leaders: PCAR,
CAT, CMI, JBHT
Financial leaders: IVZ, FRC, HBAN, SIVB
Advancers were mixed on Wednesday as advancers led 2,204 to 1,087 on the NYSE
and led 2,409 to 1,992 on the NASDAQ.
The SPY MFC green line
turned up at 97.9 and is bullish. SPY made a new all-time closing high.
Uptrend sectors: XLF, XLU, XLP, XLRE, XLK, XLC, XLV, XLY,
Neutral sectors: XLI, XLB, XLE,
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: Up a little
63 of 100 NDX stocks
closed higher on Wednesday.
62 NDX stocks are above their 30 DMA: PAYX, INTU, GOOGL, ILMN,
SNPS, MRNA, REGN, DXCM, ADBE, LULU, MSFT, TEAM, ISRG, ANSS, CDNS, QCOM, SPLK,
AAPL, CPRT, MELI, ADSK, CDW, COST, ORLY, VRSK, ADP, PEP, FAST, CTAS, AMD,
ALGN, CSCO, EXC, MRVL, HON, ASML, AVGO, CMCSA, AEP, CTSH, XEL, KLAC,
XLNX, ADI, NXPI, TSLA, CHTR, SGEN, MCHP, FB, MXIM, CSX, FOXA, FISV, MNST, BKNG,
DLTR, GILD, ROST, WBA, BIIB, CERN,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
BIIB, CERN,
Moving Below 30 DMA = 4
AMAT, CHKP,
DOCU, NVDA,
Add Comments
here:
No comments:
Post a Comment