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SPY, DIA, QQQ and IWM traded in a range on Thursday, consolidating Wednesday’s
strong gains. QQQ and IWM closed
slightly higher, while SPY and DIA closed slightly lower. Many stocks like SQ, LEN, CHWY and EBAY
closed higher on Thursday.
SPX closed below 4,500 for the sixth day in a row and NDX closed
above 15,500.
SPY down .71 at 447.17 on 77.7 million shares, above average volume, down on lower volume.
VIX up .51 at 18.69
QQQ up .26, +0.07% at 378.31
CRM, MCD, HD, AXP led the DJIA, 7 advancers, -18
ETSY, AAL, NWSA, MGM led the SPX, 184 advancers.
ALGN, DXCM, TEAM CPRT led the NDX, 63 advancers.
The two-year trend term is up. The one-year trend is up.
Up: IWM, SPY, QQQ, DIA
Down:
SPY =
bull flag setup
DIA = channel
bounce setup
QQQ =
bull flag setup
IWM =
channel bounce setup
Three
of eleven
sectors were higher on Thursday, led by XLY,
XLRE and XLK.
Consumer Discretionary leaders: ETSY, MGM, BBWI, TSCO
Real Estate leaders: WY,
EQIX, SPG, WELL
Technology leaders: AMAT,
ANET, CRM, PAYC
Advancers weakened on Thursday as decliners led 1,771 to 1,521 on the NYSE and advancers
led 2,269 to 2,189 on the NASDAQ.
The SPY MFC green line
is pointed down at 56.5 and is defensive. SPY is a bull flag setup.
Uptrend sectors: XLY, XLK, XLC, XLRE, XLF, XLP, XLU, XLV,
Neutral sectors: XLI, XLB,
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: Sideways
63 of 100 NDX stocks
closed higher on Thursday.
59 NDX stocks are above their 30 DMA: INTU, GOOGL, ILMN, SNPS,
DXCM, MSFT, TEAM, CDNS, QCOM, SPLK, MELI, COST, VRSK, ALGN, EXC, ASML, XLNX, MCHP,
NFLX, NVDA, FB, TSLA, AVGO, KLAC, TCOM, BKNG, JD, OKTA, PDD, AMZN, PYPL, VRSN,
BIDU, MRNA, MTCH, CTAS, ADI, LULU, MRVL,
AMAT, INTC, TXN, KDP, LRCX, MAR, ANSS, CPRT, ISRG, REGN, ADBE, CRWD, CTSH,
EBAY, GILD, ORLY, WBA, FOXA, INCY, MU,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
FOXA, INCY, MU,
Moving Below 30 DMA = 1
PEP,
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2 comments:
Dave, when was the last time you spoke to Nurse Mary? It would be a lot of fun if she would be a guest during one of the Trader Talks :-)
I’m a great trader. I’m a great trader and a darn good looking one, too!
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