FOMC Chairman Sinks Stocks Again...

© 2018

Fed Chairman continues to improve his skill at sinking stocks.  After sending stocks down following the Sep 26 meeting and on October 3 with his now infamous neutral rate comments, Powell is able to sink the SPX 39 points after raising rates .25% and answering questions at his press conference. 

The DJIA, closed down 351 points at 23,323, led by weakness in BA, AAPL, MMM, JNJ and UNH.  This is the tenth close below 25,000 since Dec 6.

All eleven sectors were lower on Wednesday.

SPY down 3.82 at 251.26 on 214.9 million shares, 85% above average volume. Down on higher volume.

VIX unchanged at 25.58 

Oil up 1.17 at 47.41

TLT up 1.58 at 121.18 on 23.0 million shares. 

VZ +0.38%, TRV -0.12%, led the DJIA, 1 advancer, -13

GE +5.36%, GIS +5.04% and AIG +4.74%, led the SPX.

SHPG +1.51%, ESRX +0.81%, PAYX +0.68%, and MELI +0.50% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up: 

Down: SPY, DIA, QQQ, IWM

Breadth weakened on Wednesday, as decliners led 2,156 to 799 on the NYSE and led 2,266 to 786 on the NASDAQ

The SPY MFC green line is turned down at 11 and is short-term bearish.

Uptrend sectors:   XLU,

Neutral sectors:  XLRE, XLV, XLP, XLB,

Down trend sectors: XLI, XLY, XLC, XLK, XLF, XLE,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

8 of 100 NDX stocks closed higher on Wednesday.

6 NDX stocks are above their 30 DMA.  NTES, WDAY, REGN, AVGO, QCOM, DLTR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

FB, FOXA, PYPL,

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QQQ, DIA Rise as SPY, IWM Slip...MU Down After-hours on Earnings Reaction...

© 2018

FOMC interest rate decision Wednesday at 2 pm ET.

MU -9.41% after-hours, on revenue miss and reduced sales guidance.  LRCX, AMAT, NXPI, NVDA, TXN, AVGO, QCOM and INTC are down in sympathy with MU’s weak guidance.

The DJIA, closed up 82 points at 23,675, led by strength in BA, GS, AAPL, HD and MMM.  This is the ninth close below 25,000 since Dec 6.

Six of eleven sectors were higher on Tuesday, led by real estate XLRE +0.99% and staples XLP +0.62%.

SPY down .28 at 255.08 on 96.6 million shares, 21% down average volume. Flat on lower volume.

VIX up 1.06 at 25.58 

Oil down 3.23 at 46.24

TLT up .43 at 119.60 on 10.0 million shares. 

BA +3.77%, GS +1.61%, led the DJIA, 14 advancers,

DRI +5.02%, FOSL +4.74% and NKTR +4.63%, led the SPX.

AAL +4.68%, NFLX +3.10%, TXN +2.85%, and ADSK +2.60% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up:  QQQ, DIA,

Down: SPY, IWM

Breadth strengthened on Tuesday, as decliners led 1,607 to 1,307 on the NYSE and led 1,875 to 1,180 on the NASDAQ

The SPY MFC green line is turned down at 16 and is short-term bearish.

Uptrend sectors:   XLU,

Neutral sectors:  XLRE, XLV, XLP, XLI, XLB, XLY, XLC, XLK,

Down trend sectors: XLF, XLE,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

54 of 100 NDX stocks closed higher on Tuesday.

9 NDX stocks are above their 30 DMA.  FOXA, NTES, WDAY, REGN, AVGO, QCOM, DLTR, FB, PYPL,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

DLTR, FB, PYPL,

Moving Below 30 DMA = 2

VOD, XRAY, 

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SPX/SPY Continue in Narrow Trading Range on Thursday...

More to follow…

© 2018

SPY, DIA and QQQ continued in a narrow trading range (aka the grinder) on Thursday as volatility, VIX drifted lower but remained above 20 at the close. QQQ, SPY and DIA are still channel bounce setups waiting for buying pressure.

The DJIA, closed up 70 points at 24,597, led by strength in MCD, PG, MMM, AAPL and UNH.  This is the sixth close below 25,000 since Nov 27.

Six of eleven sectors were higher on Thursday, led by utilities XLU +0.87% and staples XLP +0.62%.

SPY down .09 at 265.37 on 96.6 million shares, 11% below average volume. Flat on similar volume.

VIX down .81 at 20.65 

Oil up 1.65 at 52.85

TLT down .28 at 118.07 on 5.5 million shares. 

PG +2.62%, MCD +1.61%, led the DJIA, 17 advancers, -7

GE +7.30%, AFL +6.64% and KMB +3.93%, led the SPX.

JD +3.75%, TSLA +2.78%, NTES +2.53%, and SHPG +2.44% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up:  DIA, QQQ,

Down: SPY, IWM

Breadth weakened on Thursday, as decliners led 1,879 to 1,036 on the NYSE and led 2,281 to 767 on the NASDAQ

The SPY MFC green line is turned down at 25 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLV, XLP,

Neutral sectors:  XLI, XLB, XLY, XLC, XLK,

Down trend sectors: XLF, XLE,

The 6-month intermediate trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

33 of 100 NDX stocks closed higher on Thursday.

39 NDX stocks are above their 30 DMA.  SBUX, TSLA, PEP, XLNX, FOXA, MDLZ, SYMC, CTXS, XRAY, MXIM, NTES, HOLX, VOD, WDAY, ADP, CSCO, ILMN, SIRI, VRTX, REGN, ADBE, ADI, AMGN, AMZN, AVGO, MSFT, PYPL, FB, WBA, GOOGL, INCY, INTC, ORLY, QCOM, WYNN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

DLTR, ESRX, JD, SHPG,

Moving Below 30 DMA = 11

ADSK, BIIB, CTRP, EBAY, EXPE, ISRG, MCHP, MELI, MNST, PAYX, SNPS,

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Rally Moves Higher on Breadth as Advancers Lead...

© 2018

SPY gapped higher on strong futures overnight as optimism continued on US/China trade.  Stocks pulled back after a top Senate appropriator indicated a shutdown was more that possible.  QQQ, SPY and DIA are still channel bounce setups for Thursday.

The DJIA, closed up 157 points at 24,527, led by strength in BA, UNH, MMM, CAT and AXP.  This is the fifth close below 25,000 since Nov 27.

Eight of eleven sectors were higher on Wednesday, led by communications XLC +1.07% and discretionary XLY +1.05%.

SPY up 1.33 at 265.46 on 97.9 million shares, 11% below average volume. Up on lower volume.

VIX down .30 at 21.46 

Oil down .76 at 51.20

TLT down .53 at 118.35 on 6.1 million shares. 

DWDP +2.05%, AXP +1.97%, led the DJIA, 24 advancers, +10

URI +6.32%, TWTR +5.22% and MGM +4.84%, led the SPX.

JD +4.69%, NTES +3.86%, WYNN +3.66%, and NFLX +3.60% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up:  IWM, QQQ, DIA, SPY,

Down:

Breadth strengthened on Wednesday, as advancers led 1,940 to 1,011 on the NYSE and led 2,067 to 946 on the NASDAQ

The SPY MFC green line is turned down at 28 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLV, XLP,

Neutral sectors:  XLI, XLB, XLY, XLC, XLK,

Down trend sectors: XLF, XLE,

The 6-month intermediate trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

65 of 100 NDX stocks closed higher on Wednesday.

46 NDX stocks are above their 30 DMA.  SBUX, TSLA, PEP, XLNX, FOXA, MDLZ, MNST, SYMC, CTXS, XRAY, MXIM, NTES, HOLX, PAYX, VOD, WDAY, ADP, CSCO, ILMN, MELI, SIRI, VRTX, EBAY, REGN, ADBE, ADI, AMGN, AMZN, AVGO, MCHP, MSFT, PYPL, FB, WBA, ADSK, BIIB, CTRP, EXPE, GOOGL, INCY, INTC, ISRG, ORLY, QCOM, SNPS, WYNN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

ADSK, BIIB, CTRP, EXPE, GOOGL, INCY, INTC, ISRG, ORLY, QCOM, SNPS, WYNN,

Moving Below 30 DMA = 0

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SPY, QQQ, DIA Mixed, Make Daily Higher High and Higher Low...

© 2018

SPY gapped higher on strong futures overnight after positive comments on US/China trade and sold off until 2 pm after concerns surfaced regarding a potential government shutdown.  Buyers took control shortly after 2 pm almost $4 before a pullback headed into the close.  QQQ, SPY and DIA are still channel bounce setups for Wednesday.

The DJIA, closed down 53 points at 24,370, led by weakness in BA, GS, TRV, V and MCD.  This is the fourth close below 25,000 since Nov 27.

Eight of eleven sectors were higher on Tuesday, led by staples XLP +0.82% and utilities XLU +0.41%.

SPY up .06 at 264.13 on 121.5 million shares, 7% above average volume. Up on lower volume.

VIX down .88 at 21.76 

Oil up 1.07 at 51.96

TLT down .02 at 118.88 on 8.0 million shares. 

NKE +1.46%, VZ +1.00%, led the DJIA, 14 advancers, -2

EQT +3.31%, TWTR +3.17% and LMT +4.56%, led the SPX.

NXPI +3.79%, AVGO +3.17%, WDAY +2.04%, and ISRG +2.00% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up:  QQQ, SPY,

Down: IWM, DIA

Breadth strengthened on Tuesday, as decliners led 1,625 to 1,311 on the NYSE and led 1,719 to 1,323 on the NASDAQ

The SPY MFC green line is turned down at 32 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLV, XLP,

Neutral sectors:  XLI, XLB, XLY, XLC, XLK,

Down trend sectors: XLF, XLE,

The 6-month intermediate trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

65 of 100 NDX stocks closed higher on Tuesday.

34 NDX stocks are above their 30 DMA.  SBUX, TSLA, PEP, XLNX, FOXA, MDLZ, MNST, SYMC, CTXS, XRAY, MXIM, NTES, HOLX, PAYX, VOD, WDAY, ADP, CSCO, ILMN, MELI, SIRI, VRTX, EBAY, REGN, ADBE, ADI, AMGN, AMZN, AVGO, MCHP, MSFT, PYPL, FB, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

FB, WBA,

Moving Below 30 DMA = 2

ADSK, WYNN,

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