Strong Close after the Gap Down.

Hi everyone,

Let’s dive right into today’s (Thursdays’s) action. We’ll cover the general market and then individual stocks that are standing out.

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The General Market

After an initial gap down, the market closed strong although action was volatile. Here is a 15-minute chart of the QQQ

The QQQ closed up .5% as it keeps the short-term rally alive. Net new lows remain

The SPY finished up 0.65%. The NYSE continued to make new net lows.

The IWM increased 0.83%

The VIX continued to decline

The McClellan Oscillator continued to rise.

Trends (2/4 Down)

Short-term: Up (Above a now rising 5 sma)

Intermediate-term: Down (below a declining 21 EMA)

Mid-term: Mixed (below 50 SMA but the 50 SMA is increasing)

Long-term: Down (below a declining 200 SMA)

Stocks

Here are some key stocks that acted well. Solar and Biotech continue to outperform