Broad Selloff Pivots at Noon as SPX, NDX Form Hammer on Afternoon Rally...Consumer Staples, Energy, Utilities Led Sectors...

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SPX +8.48, 6,728, closed below 6,800.  Breadth strengthened on Friday as advancers and advancing capital increased.  Government shutdown continued for the thirty eightth day.  Apparently, politicians continue to prioritize their political objectives over a fully functioning government. 

SPY hits an intraday low before reversing and forming a hammer on an 8-day pullback breakout test.  The visual evidence continues to indicate that even with the short-term pullback, the intermediate trend is more probable to continue rising.  Remember an uptrend is a series of higher highs and higher lows.  To be an uptrend there must be a pullback to a higher low.  The four-week SPY trend is up.  The three- and six-month trends are up.  Dave

Earnings: There are 8 SPX earnings reports next week including CSCO on Wednesday and DIS, AMAT on Thursday. 

NDX -0.28%, 7-day bull flag pullback, formed hammer. 

DJI, 46,912, +0.16%, 8-day bull flag pullback formed hammer, led by MMM, DIS and AMGN.

EXPE +38.55, +17.55%, a positive EPS reaction and AKAM +10.74, +14.71%, a positive EPS reaction.

NVDA +0.07, +0.04%, hammer in a bull flag pullback.

AVGO -6.06, -1.73%, hammer in a re-breakout setup.

ORCL -4.54, -1.86%, remained below short and intermediate-term support, form dragonfly doji.

Mega caps BRK/B, AMZN, META, NVDA rose and MSFT, AAPL, TSM, AVGO, GOOGL, TSLA fell on Friday. 

SPY up +.66 at 670.97, 100.5 million shares, above average volume.

VIX down -0.42 at 19.08,

QQQ down -1.93 at 609.74

KO, SHW, AMGN, CVX led DJIA, 20 advancers, +10

EXPE, AKAM, SOLV, NWSA led SPX, 391 advancers,

MNST, SBUX, DASH, MAR led NDX, 60 advancers.

Up: IWM, DIA, SPY,

Down: QQQ,

The SPY MFC green line is pointed down at 61.4 and price-action is defensive. -6.0

Nine of eleven sectors were higher on Friday led by XLP, XLE and XLU. 

Uptrend sectors: XLK, XLV, XLY, XLI, XLC, XLU, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

The 6-month intermediate trend breakout is up.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little 

60 of 100 NDX stocks closed higher on Friday.

40 NDX stocks are above their 30 DMA: MU, LRCX, WBD, ZS, CRWD, AMAT, MRVL, EA, AEP, AMD, AMGN, GILD, AAPL, GOOGL, KLAC, ROST, CSCO, ISRG, BIIB, MDB, QCOM, CTSH, MRVL, PDD, AMZN, REGN, IDXX, MAR, PCAR, AZN, DDOG, BKR, CCEP, FANG, INTC, MNST, ODFL, SBUX, TEAM, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 9

BKR, CCEP, FANG, INTC, MNST, ODFL, SBUX, TEAM, XEL,

Moving Below 30 DMA = 4

ASML, AVGO, TSLA, VRTX,

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SPX, DJI, NDX Closed Lower...Energy, Health Care Led Sectors...DDOG Positive EPS Reaction, DASH Negative EPS Reaction...

© 2025

SPX -75.97, 6,720, closed below 6,800.  Breadth weakened on Thursday as decliners and declining capital increased.  Government shutdown continued for the thirty seventh day.  Apparently, politicians continue to prioritize their political objectives over a fully functioning government. 

SPY breaks 2-day support and closes lower on a 7-day pullback breakout test.  The visual evidence continues to indicate that even with the short-term pullback, the intermediate trend is more probable to continue rising.  Remember an uptrend is a series of higher highs and higher lows.  To be an uptrend there must be a pullback to a higher low.  The four-week SPY trend is up.  The three- and six-month trends are up.  Dave

Earnings: There have been more than 130 SPX earnings reports this week.

BEN CEG DUK KKR report EPS before the open on Friday. 

NDX -1.91%, 6-day bull flag pullback. 

DJI, 46,912, -0.84%, 7-day bull flag pullback, led by CRM, MSFT and MCD.

DDOG +35.84, +23.13%, a positive EPS reaction and DASH -41.54, -14.45%, a negative EPS reaction.

NVDA -7.13, -3.65%, bull flag pullback.

AVGO -3.39, -0.94%, re-breakout setup.

ORCL -6.51, -2.60%, remained below short and intermediate-term support, eight-week consolidation.

Mega caps BRK/B, GOOGL rose and AAPL, AVGO, TSM, MSFT, META, AMZN, TSLA, NVDA fell on Thursday. 

SPY down -7.27 at 670.31, 94.9 million shares, above average volume.

VIX up +1.49 at 19.50,

QQQ down -11.61 at 611.67

IBM, MRK, KO, JPM led DJIA, 10 advancers, -4

DDOG, TPL, APA, APD led SPX, 163 advancers,

DDOG, AZN, FANG, BIIB led NDX, 17 advancers.

Up:

Down: DIA, SPY, IWM, QQQ,

The SPY MFC green line is pointed down at 67.4 and price-action is defensive. -5.2

Two of eleven sectors were higher on Thursday led by XLE, XLV and XLF. 

Uptrend sectors: XLK, XLV, XLY, XLI, XLC, XLU, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

The 6-month intermediate trend breakout is up.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down 

17 of 100 NDX stocks closed higher on Thursday.

35 NDX stocks are above their 30 DMA: MU, ASML, LRCX, WBD, ZS, CRWD, AMAT, MRVL, EA, AEP, VRTX, AMD, AMGN, GILD, AAPL, GOOGL, KLAC, ROST, CSCO, ISRG, BIIB, MDB, QCOM, CTSH, AVGO, MRVL, PDD, AMZN, REGN, TSLA, IDXX, MAR, PCAR, AZN, DDOG,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

AZN, DDOG,     

Moving Below 30 DMA = 13

COST, FTNT, GEHC, GFS, INTC, KDP, MELI, NVDA, ODFL, PANW, PLTR, TEAM, XEL,

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RUT, NDX, DJI, SPX Move Higher...SPX Recovers 30% of Tuesday's Pullback...Financial, Health Care, Consumer Staples Led Sectors...AMGN, AMD Close Higher on Positive EPS Reactions...

© 2025

SPX +24.74, 6,796, closed just below 6,800.  Breadth strengthened on Wednesday as advancers and advancing capital increased.  Government shutdown continued for the thirty sixth day.  Apparently, politicians continue to prioritize their political objectives over a fully functioning government.  Is it commonly accepted that politicians decisions lead to the outcomes that they generate?

Wednesday’s rally recovers 30% of Tuesday’s pullback.  The visual evidence continues to indicate that the current intermediate trend is more probable to continue rising.  Remember an uptrend is a series of higher highs and higher lows.  To be an uptrend there must be a pullback to a higher low which appears to have occurred on Tuesday.  The four-week SPY trend is up.  The three- and six-month trends are up.  Dave

Earnings: There are more than 130 SPX earnings reports this week.

APD BDX CMI COP DD DDOG EPAM EVRG MRNA NRG PH PODD RL ROK TPR VST VTRS WBD report EPS before the open on Thursday.  ABNB AKAM CPT ED EOG EXPE GEN LNT MCHP MNST MTD NWSA SOLV TTD TTWO WYNN XYZ report after the close.

NDX +0.72%, bull flag pattern. 

DJI, 47,311, +0.48%, bull flag bounce, led by AMGN, CAT and MCD.

AMGN +23.16, +7.81%, a positive EPS reaction and AMD +6.28, +2.51%, EPS beat with initial negative reaction turned positive.

NVDA -3.48, -1.75%, bull flag pullback.

AVGO +7.04, +2.00%, re-breakout setup.

ORCL +2.14, +0.86%, remained below short and intermediate-term support, eight-week consolidation.

Mega caps TSLA, GOOGL, AVGO, META, AMZN, BRK/B, AAPL rose and TSM, MSFT, NVDA fell on Wednesday. 

SPY up +2.34 at 677.58, 73.5 million shares, slightly below average volume.

VIX down -0.99 at 18.01,

QQQ up +4.03 at 623.28

AMGN, CAT, MMM, MCD led DJIA, 14 advancers, +3

EXPD, HSIC, DD, YUM led SPX, 306 advancers,

MU, AMGN, MRVL, LRCX led NDX, 61 advancers.

Up: IWM, QQQ, DIA, SPY,

Down:

The SPY MFC green line is pointed down at 72.6 and price-action closed below Tuesday’s high and is defensive. -5.3

Nine of eleven sectors were higher on Wednesday led by XLF, XLV and XLP. 

Uptrend sectors: XLK, XLV, XLY, XLI, XLC, XLU, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

The 6-month intermediate trend breakout is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little 

61 of 100 NDX stocks closed higher on Wednesday.

46 NDX stocks are above their 30 DMA: MU, PANW, ASML, LRCX, WBD, ZS, CRWD, AMAT, MRVL, XEL, EA, AEP, VRTX, AMD, AMGN, GILD, AAPL, GOOGL, KLAC, ROST, CSCO, ISRG, BIIB, MDB, QCOM, CTSH, TEAM, AVGO, MRVL, NVDA, PDD, PLTR, AMZN, REGN, MELI, TSLA, FTNT, IDXX, COST, MAR, ODFL, GEHC, GFS, INTC, KDP, PCAR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

GEHC, GFS, INTC, KDP, PCAR,     

Moving Below 30 DMA = 2

CSX, DDOG,

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