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NDX, RUT, SPX and DJI opened lower and closed higher Thursday on
heavy buying volume creating a powerful reversal day. There were over 45 bullish engulfing candles and
more than 15 piercing line candles in the NDX 100 alone. Breadth
increased significantly on Thursday.
Afterhours
EPS reactions: ETSY +20.55%, SQ +18.32% rose, while ZS -14.91% fell.
SPY up 6.35 at 428.30, on 213.9 million shares, above average volume, up on higher volume.
VIX down.70 at 30.32
QQQ up 11.07 at 340.49
CRM, MSFT, INTC, DIS led the DJIA, 11 advancers, +9
ENPH, SEDG, FTNT, GNRC led the SPX, 314 advancers.
MRNA, PANW, CRWD, MELI led the NDX, 86 advancers.
The two-year trend term is up. The one-year trend is up.
Up: QQQ, IWM, SPY, DIA,
Down:
Seven
of eleven
sectors were higher on Thursday, led by XLK,
XLC and XLY. XLP which has been a leader over the past few
weeks had a dramatic selloff as the broad market rallied.
Technology leaders: ENPH,
SEDG, FTNT, NOW
Communication Services leaders: LYV, MTCH, DISH, TWTR
Consumer Discretionary leaders: ETSY,
UAA, CZR, LEN
Advancers strengthened on Thursday as advancers led 1,945 to 1,485 on the NYSE and led 2,919 to 1,946 on the NASDAQ.
The SPY MFC green line
is turned down at 20.2 and is short-term bearish. SPY closed above
its 6-month closing low which occurred yesterday, and above its Jan 24
intra-day low.
Uptrend sectors: XLE, XLP,
Neutral sectors: XLF, XLU, XLB, XLV, XLRE,
XLK,
Down trend sectors: XLY, XLI, XLC,
The 6-month intermediate trend is up. The
ten-day trend is down.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down a little
86 of 100 NDX stocks
closed higher on Thursday.
20 NDX stocks are above their 30 DMA: ATVI, EXC, TMUS, DDOG,
MAR, DLTR, KHC, AZN, ALGN, AVGO, CDNS, COST, CRWD, FTNT, ISRG, MU, PANW, SNPS, SPLK,
ZS,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 12
ALGN, AVGO, CDNS, COST,
CRWD, FTNT, ISRG, MU, PANW, SNPS, SPLK, ZS,
Moving Below 30 DMA = 0
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2 comments:
Crazy cool to see FTNT and PANW move while Russian cyber attacks come into focus. I read that an estimated 60% of state sponsored cybercrime originates in Russia.
Also crazy to see the MFC Green line go down -3.1 points from 23.3 on Wed to 20.2 after the large % swing between the open and close today. It is truly a lagging indicator.
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