Thursday, September 16, 2021

QQQ, IWM End Higher, SPY, DIA Close Lower...ETSY New High Leads SPX...Discretionary, Real Estate, Technology Lead Sectors...

 
 
© 2021
 
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 sectorsXLY, 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 TrendSideways
 
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:

Ben W. said...

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 :-)

Ben W. said...

I’m a great trader. I’m a great trader and a darn good looking one, too!