What a upswing yesterday!

Wednesday, September 12th 2018, around 8:30 am Hyderabad, India; and around 11:00 pm Wednesday, September 12th 2018 New York Time

futures before opening did not look nice…NDX opened lower about 40 points! but immediately started going up and up 100+ points at close. That is a good upswing!

NDX solid support and bounce above 9 Week EMA. FFTY – top 50 growth stocks in the market good bounce above 9 Day EMA!.

Accumulation distribution line for NYSE – not as good as yesterday, but 1430 stocks up (majority of stocks) in good volume of 1.56 billion (better volume than yesterday)

most spectacular advance was NDX – low of 7401 and closed around 7507!

only red flag was the breath – IBD calls it ‘curiously soft’ ! Decliners led advancers by 15-to-13 in NASDAQ. Well there is one other red flag – % of S&P 500 stocks above their 50 day SMA declined by not that much to 64.55

One another thing – Apple, Amazon, Microsoft, and Google is 26 % of NASDAQ! Now these stocks are institutional darlings and heavy weight!. How are the institutions treating them ? Screen Shot 2018-09-12 at 8.45.50 AM

decision : I’m staying in QLD

and i am long on NQ 1 Contract

Happy trading

apple strikes again – up by around 5%

apple strikes again august 2nd 2017

By 1 pm today – the NASDAQ dropped about 31 points (the futures were up 45 points at one time last night). That shows to us a critical point that i have observed over many months now: stocks don’t always follow the futures.

Apple earned $1.67 a share, (up 18% YOY); sales : $45.4 billion (up 7% 3 months) That was well above what analysts expected Apple to earn and for sales ($1.57 a share on sales of $44.89 billion).

Volume was lower on the NYSE compared with the same time Noon EST, but higher on the Nasdaq, (The most intense trading in Apple shares — running about 5 times greater than the 50 days moving average of volume. Losing stocks led winners by 12-to-7 on the NYSE and by about 13-to-5 on the Nasdaq.

Solar energy stocks, the No. 1 industry group out of the 197 that IBD tracks, was Wednesday’s worst-performing