Happy Thanksgiving...Small Caps, Tech Lead Counter-trend Rally...

Happy Thanksgiving…Have a great holiday weekend with your family, as we each give thanks for the many freedoms and blessings we enjoy in America.

© 2018

Stocks rallied moderately on Wednesday led by small caps and tech, following a sharp selloff on Monday and Tuesday. 

Markets are closed on Thursday and are open for a half day on Friday, closing at 1 pm ET. 

SPY and DIA are still in an inverse H&S pattern while IWM and QQQ are now in similar low channels.  AAPL, MSFT, AMZN, CMCSA and CSCO accounted for almost 75 of the 115 point NDX decline on Tuesday.

The DJIA, closed down .95 point at 24,465, led by strength in CAT, CVX, MSFT, IBM and GS.  This is the second close below 25,000 since Oct. 30.

Seven of eleven sectors were higher on Wednesday, led by energy XLE +1.57% and communication XLC +1.19%.

SPY up .90 at 265.02 on 75.5 million shares, 39% below average volume. Up on lower volume.

VIX down 1.68 at 20.80 

Oil up 1.25 at 54.64

TLT down .04 at 115.02 on 4.9 million shares. 

NKE +1.76%, MSFT +1.38%, led the DJIA, 15 advancers, +15

FL +14.91%, HBI +6.58% and EQT +6.46%, led the SPX.

ADSK +9.74%, CTRP +6.26%, LBTYA +5.57%, and WDAY +4.96% led the NDX.

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

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Wednesday, as advancers led 2,160 to 762 on the NYSE and decliners led 2,236 to 782 on the NASDAQ

The SPY MFC green line is pointed down at 30 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLP,

Neutral sectors:  XLV, XLF, XLB, XLY, XLI,

Down trend sectors: XLE, XLC, XLK,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

78 of 100 NDX stocks closed higher on Wednesday.

39 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, HSIC, XRAY, ADI, MAR, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AMGN, ADSK, AVGO, CSX, CTAS, ORLY, SHPG, VOD, WDAY,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 8

ADSK, AVGO, CSX, CTAS, ORLY, SHPG, VOD, WDAY,

Moving Below 30 DMA = 2

BIIB, TXN,

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Oil Falls to 52-week Low while Stocks Slide on Slippery Slope...

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Stocks slide further on Tuesday, after futures fell Monday night and several retail companies reported disappointing EPS Tuesday before the open, including TGT -10.52%, ROST -9.38%, KSS -9.23%, LOW -5.66% and TJX -4.37%. 

SPY and DIA are still in an inverse H&S pattern while IWM and QQQ are now in similar low channels.  AAPL, MSFT, AMZN, CMCSA and CSCO accounted for almost 75 of the 115 point NDX decline on Tuesday.

The DJIA, closed down 551 points at 24,465, led by weakness in AAPL, GS, MMM, UNH and HD.  This is the first close below 25,000 since Oct. 30.

All eleven sectors were lower on Tuesday, strongest were utilities XLU -0.42% and healthcare XLV -0.94%.

SPY down 4.98 at 264.12 on 136.0 million shares, 4% above average volume. Down on higher volume.

VIX up 2.38 at 22.48 

Oil down 3.99 at 53.39

TLT up .04 at 115.06 on 6.3 million shares. 

JNJ -0.87%, BA -1.01%, led the DJIA, 0 advancers, -9

A +7.84%, CPB +5.46% and ADI +4.09%, led the SPX.

ADI +4.09%, AMAT +3.92%, NVDA +3.03%, and ALGN +2.77% led the NDX.

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

Up:

Down: QQQ, SPY, IWM, DIA,

Breadth weakened on Tuesday, as decliners led 2,534 to 444 on the NYSE and decliners led 2,331 to 720 on the NASDAQ

The SPY MFC green line is pointed down at 33 and is short-term bearish.

Uptrend sectors:   XLU, XLP, XLRE,

Neutral sectors:  XLV, XLY, XLF, XLB,

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

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

23 of 100 NDX stocks closed higher on Tuesday.

33 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, HSIC, XRAY, ADI, MAR, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AMGN, BIIB, TXN,

 NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

BIIB, TXN

Moving Below 30 DMA = 13

ADP, AVGO, CHKP, CHTR, CSCO, CSX, CTAS, ESRX, FISV, MELI, ORLY, QRTEA, VOD,

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SPX, DJIA Slide as AMZN, AAPL, MSFT Lead NDX Down 224 Points...

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SPY, DIA and IWM broke below Friday’s low and QQQ broke below Thursday’s low as AMZN, AAPL, MSFT, FB, GOOG, GOOGL, NVDA and ADBE accounted for almost 150 of the 224 point NDX decline on Monday.

The DJIA, closed down 395 points at 25,017, led by weakness in BA, AAPL, V, UNH and CAT.  This is the fourteenth straight close above 25,000.

Only two of eleven sectors were higher on Monday, led by utilities XLU +0.44% and real estate XLRE +0.27%.

SPY down 4.63 at 269.10 on 103.0 million shares, 19% below average volume. Down on lower volume.

VIX up 1.96 at 20.10 

Oil up .35 at 57.38

TLT up .32 at 115.02 on 7.0 million shares. 

PFE +1.54%, TRV +1.36%, led the DJIA, 9 advancers, -11

FOSL +4.07%, HP +2.83% and EQT +2.83%, led the SPX.

MNST +2.28%, FOXA +1.56%, JBHT +1.39%, and VOD +1.17% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up: 

Down: DIA, SPY, IWM, QQQ,

Breadth weakened on Monday, as decliners led 2,139 to 771 on the NYSE and decliners led 2,265 to 785 on the NASDAQ

The SPY MFC green line is pointed down at 37 and is short-term bearish.

Uptrend sectors:   XLU, XLP, XLRE,

Neutral sectors:  XLV, XLY, XLF, XLB,

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

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

10 of 100 NDX stocks closed higher on Monday.

44 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, ESRX, INTC, QRTEA, CHTR, MELI, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, HSIC, ORLY, XRAY, ADI, CSX, MAR, NXPI, VOD, MXIM, NTES, ADP, AMAT, AVGO, CHKP, CSCO, CTAS, FISV, HOLX, KLAC, PAYX, PCAR, AMGN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 17

ADSK, BIIB, CDNS, COST, HAS, ILMN, INCY, ISRG, LRCX, MSFT, PYPL, SIRI, SNPS, STX, TMUS, TXN, WDAY,

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SPY, DIA, IWM Bounce on Friday as Tech Holds Down QQQ...

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On Friday, NVDA -18.76% and WSM -11.23% fell after reporting EPS Thursday after the close.

The DJIA, closed up 123 points at 25,413, led by strength in UNH, MMM, MCD, TRV, and AAPL.  This is the thirteenth straight close above 25,000.

Seven of eleven sectors were higher on Friday, led by utilities XLU +1.54% and real estate XLRE +1.54%.

SPY up.71 at 273.73 on 126.6 million shares, 1% above average volume. Up on lower volume.

VIX down 1.84 at 18.14 

Oil up .25 at 57.03

TLT up .66 at 114.70 on 9.2 million shares. 

TRV +2.53%, UNH +2.33%, led the DJIA, 20 advancers, -2.

PCG +37.54%, EIX +15.38% and NTAP +4.38%, led the SPX.

CHTR +3.16%, KLAC +2.60%, CTSH +2.42%, and XLNX  +2.29% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is sideways.

Up: DIA, SPY, IWM

Down: QQQ,

Breadth strengthened on Friday, as advancers led 1,513 to 1,390 on the NYSE and decliners led 1,542 to 1,462 on the NASDAQ

The SPY MFC green line is pointed down at 38 and is short-term bearish.

Uptrend sectors:   XLU, XLP, XLRE,

Neutral sectors:  XLV, XLY, XLF, XLB,

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

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

56 of 100 NDX stocks closed higher on Friday.

62 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, CMCSA, ESRX, INTC, QRTEA, CHTR, COST, MELI, AAL, FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, MCHP, MYL, VRSK, WDAY, CTXS, HSIC, ORLY, SNPS, XRAY, ADI, CSX, MAR, NXPI, TMUS, VOD, MXIM, NTES, ADP, AMAT, AVGO, BIIB, CHKP, CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, KLAC, LRCX, PAYX, PCAR, SNPS, STX, TXN, ADSK, AMGN, ISRG, MSFT,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

ADSK, AMGN, ISRG, MSFT,

Moving Below 30 DMA = 7

ASML, BKNG, DLTR, INTU, JD, MU, SHPG,

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SPY, DIA, IWM Form Piercing Line as QQQ Forms Bullish Engulfing Following Intra-day Reversal...

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After-hours NVDA -16.77%, WSM -13.14% and AMAT -7.77% fell after reporting EPS.  NVDA and AMAT negative reactions brought QQQ and /NQ down in after-hours.  Look for a potential lower open in QQQ and /NQ Friday morning.

On Thursday CSCO +5.50% and NTES +5.32% gained after EPS announcements, while NTAP -6.31% and WMT -1.96% fell.

The broad indexes had another volatile day opening lower before an intra-day reversal resulted with SPY, DIA and IWM forming a bullish piercing line candle.  QQQ formed a bullish engulfing candle. SPY, DIA, QQQ and IWM are forming a right shoulder in their inverse head & should price pattern.

The DJIA, closed up 208 points at 25,289, led by strength in MMM, AAPL, CAT, JPM and V.  This is the twelfth straight close above 25,000.

Seven of eleven sectors were higher on Thursday, led by technology XLK +2.51% and energy XLE +1.47%.

SPY up 2.82 at 273.02 on 135.1 million shares, 6% above average volume. Up on higher volume.

VIX down 1.27 at 19.98 

Oil up .78 at 56.78

TLT down .05 at 114.04 on 7.8 million shares. 

CSCO +5.50%, MMM +3.46%, led the DJIA, 22 advancers, +16.

ANET +6.41%, MU +4.94% and MCHP +4.62%, led the SPX.

JD +6.33%, TTWO +6.09%, XLNX +5.63%, and NTES +5.32% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is sideways.

Up: QQQ, IWM, SPY, DIA,

Down:

Breadth strengthened on Thursday, as decliners led 1,698 to 1,252 on the NYSE and led 2,087 to 957 on the NASDAQ

The SPY MFC green line is pointed down at 40 and is short-term bearish.

Uptrend sectors:   XLU, XLP, XLRE,

Neutral sectors:  XLV, XLY, XLF, XLB,

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

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

86 of 100 NDX stocks closed higher on Thursday.

65 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, CMCSA, DLTR, ESRX, INTC, QRTEA, SHPG, CHTR, COST, MELI, AAL, BKNG, FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, MCHP, MYL, VRSK, WDAY, CTXS, HSIC, ORLY, SNPS, XRAY, ADI, CSX, MAR, NXPI, TMUS, VOD, MXIM, NTES, ADP, AMAT, ASML, AVGO, BIIB, CHKP, CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, INTU, JD, KLAC, LRCX, MU, PAYX, PCAR, SNPS, STX, TXN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 23

ADP, AMAT, ASML, AVGO, BIIB, CHKP, CSCO, CTAS, FISV, HAS, HOLX, ILMN, INCY, INTU, JD, KLAC, LRCX, MU, PAYX, PCAR, SNPS, STX, TXN,

Moving Below 30 DMA = 1

EXPE,

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