market remains unchanged. 65.27 % of S&P 500 stocks are above their 50 Days SMA.
Look at the chart above – QLD is in candle sticks weekly 2 years chart
IGV is software setor ETF and XLV is health care sector – QLD is up 124 % and
IGV – 76 % and XLV 30%
Nothing beats QLD
Decision : I will continue to be long on QLD and NQ
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 ?
decision : I’m staying in QLD
and i am long on NQ 1 Contract