Thursday, October 18, 2018


SQ is at the 10 day EMA as well after rebounding from that nasty gap lower last Thursday.  Starting to move into a range of resistance.  CRM is very similar in its rebound.  AAPL is holding well over the 50 day EMA in a short lateral move.  AMZN has bounced to near resistance as well at 1850.  NFLX gapped upside on earnings but gave back half the move.  NVDA gapped over the 200 day SMA but had no stomach to hold the move and closed negative. Disturbingly weak.

FB: Trying to work higher after a 3 month decline.  Looks solid out, working on a base.  GOOG has bounced to the 200 day SMA.

Machinery:  Not bad.  DE holding just over the 200 day SMA in its recovery.  CMI holding in a lateral move along the 50 day EMA in a test of that level.  TEX at the August and September lows in its range.  XONE in a still decent pattern.  

Retail:  Backed off on the day but still solid.  ULTA, TJX, ROST, WMT remain solid.

Drugs:  Coming back.  JNJ with a strong upside break through the 50 day MA.  PFE, MRK solid.  WBA, a pharmacy, is still working nicely higher.

Software:  Some good moves, some not.  FEYE remains strong.  TTWO paused on the day but still moving nicely higher.  NOW testing after moving through the 50 day SMA.  MSFT trying to break through the 50 day MA.  ATVI looks almost decent over the 50 day EMA.  CRM, VMW, DATA struggling. 

Chips:  AMD, AVGO still solid enough.  LSCC may bounce from the 50 day MA.  Many, many have bounced but are still hideous: SLAB, MLNX, MXL.

Energy:  Out of energy as the patterns slump.  XOM has dropped to the 200 day.  CVX down like a rock the past week.  MRO in a bear flag below the 50 day.  APC hanging on at the 50 day.  SWN is not bad, but it is a minority.

Food:  Not bad.  KO up to the 50 day MA with good volume.  HSY still solid.  MKC is kind of bland but in a nice uptrend.  Get it?  KHZ, in a long, long, long decline has possibly set up a very big double bottom with lows in May and October. 

Misc:  DIS solidly upside.  Pot stocks took a hit, so to speak, dropping to the 10/20 day EMA.  MTCH still in a solid recovery.  PLAY off but still a great pattern.    

No comments: