RUT, NDX, SPX Pullback as DJI Closes Higher...Consumer Staples Lead Sectors, Technology Lags...AVGO, COST Rise on EPS Reaction in After-hours...

 
 
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Stocks opened lower after a Weekly Jobless Claims report of 184K, the lowest level in 52 years, vs an estimate of 215K.  Stocks traded in a relatively narrow range on Thursday until the last hour when SPX, NDX and RUT broke below Wednesday’s low,
 
IWM, QQQ and SPY closed lower while DIA closed higher.  The SPX closed at 4,667 -33.76, and the NDX closed at 16,149, -244.64.

After-hours:
AVGO +35.58, +6.10% up on a positive earnings reaction.
COST +6.04, +1.15% up on a positive earnings reaction.

November CPI will be released Friday BMO at 8:30 am ET.

 
 
SPY down 3.17 at 466.35, on 61.2 million shares, below average volume, down on lower volume.  
VIX up 1.68 at 21.58
QQQ down 5.88 at 393.73
 
WMT, WBA, V, MCD led the DJIA, 12 advancers, -4
HRL, CVS, HUM, ANET led the SPX, 121 advancers.
REGN, JD, KHC, CSCO led the NDX, 10 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA, 
Down: SPY, QQQ, IWM,
 
SPY = channel bounce pause
DIA = channel bounce continuation
QQQ = channel bounce pause
IWM = reversal BO test, re-breakout setup
 
Two of eleven sectors were higher on Thursday, led by XLP, XLV and XLU.
 
Consumer Staples leaders: HRL, KR, WMT, WBA
Health Care leaders: CVS, HUM, ABBV, MCK
Utilities leaders: D, ATO, ETR, DTE
 
Advancers weakened on Thursday as decliners led 2,487 to 849 on the NYSE and led 3,595 to 1,122 on the NASDAQ.
 
The SPY MFC green line is pointed up at 58.2 and is bullish.  SPY is a channel bounce pause. 
 
 
Uptrend sectors:  XLK, XLY, XLRE, XLE, XLB, XLI, XLF, XLV,
Neutral sectors:  XLP, XLU,
Down trend sectors: XLC,
 
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
 
10 of 100 NDX stocks closed higher on Thursday.
 
49 NDX stocks are above their 30 DMA:  DLTR, VRSK, XLNX, AVGO, NVDA, AAPL, COST, INTU, QCOM, KLAC, NXPI, PTON, VRSN, LRCX, MCHP, MU, GILD, VRTX, ADP, CDW, CSCO, FAST, ORLY, SNPS, TXN, XEL, CSX, MRVL, PEP, AEP, AMGN, ANSS, CTAS, CTSH, FISV, INTC, SBUX, WBA, ADI, ALGN, AMAT, CERN, GOOGL, INCY, MNST, REGN, MAR, PCAR, SWKS, 
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
SWKS,  
 
Moving Below 30 DMA = 4
AMD, AMZN, CDNS, MSFT,
 
 
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