Wednesday, August 11, 2021

DIA, SPY All-time Closing High...MRNA -15%...Materials, Industrials, Financial Lead Sectors...

 
 
© 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 sectorsXLF, 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 TrendUp 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,
 
 
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