Lower Open, Selloff, Rally SPY, QQQ, IWM Form Piercing Line Candle in Bull Flag Price Pattern...

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SPY, DIA, QQQ and IWM complete day 3 of a bull flag pattern and is a setup for a potential bounce on Monday:

• For a third day markets sold off but rallied Friday to form a bullish candle,
• GT -1.86, -9.05% on a negative earnings reaction,
• COTY, MAT, MSI and MHK gapped up on positive EPS reactions,
• EA +13.50, +16.05% rallied after a negative earnings reaction on Wednesday,
• There are numerous bull flag setups including AMD, CRM, NFLX, TXN, FB, SMH, AAPL and many more. 

The DJIA, closed down 63 points at 25,106, led by weakness in UNH, GS, WMT, WBA and JPM. 

Six of eleven sectors were higher on Friday, led by communication services XLC +0.68% and technology XLK +0.58%.

SPY up .33 at 270.47 on 75.7 million shares, 23% below average volume. Up on lower volume.

VIX down .65 at 15.72 

Oil up .10 at 52.71

TLT up .52 at 122.35 on 5.8 million shares. 

UTX +1.47%, PFE +1.27%, led the DJIA, 15 advancers, +12

COTY +32.15%, MAT +23.22% and MSI +14.12%, led the SPX.

EA +16.05%, WLWT +3.10%, ILMN +2.74%, and ADSK +2.49% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up: QQQ, SPY, IWM

Down: DIA,

Breadth strengthened on Friday, as decliners led 1,482 to 1,386 on the NYSE and led 1,511 to 1,459 on the NASDAQ

The SPY MFC green line is in the upper zone at 96 and is short-term bullish.

Uptrend sectors: XLRE, XLC,

Neutral sectors:  XLU, XLI, XLK, XLY, XLV, XLP, XLB, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

67 of 100 NDX stocks closed higher on Friday.

85 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, CTXS, MSFT, EA,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

EA,   

Moving Below 30 DMA = 5

COST, HSIC, WBA,

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