Stocks Surge Higher as US/China Trade Talks Continue...

© 2019

SPY, DIA, IWM surge on Friday on continued optimism over US/China trade talks:

• SPY, DIA made their highest close since Dec 3 as the post-Christmas rally finished its 8^th week,
• IWM made its highest close, 156.22, since Nov 8,
• SF Fed President Mary Daly: this is a good time for the Fed to be patient with relatively muted inflation,
• Atlanta Fed President Raphael Bostic expects one rate hike in 2019, as rates a little short of neutral,
• NVDA +1.82%, rose after a drop in quarterly revenue wasn’t worse than the $2.21 billion reported.

The DJIA, closed up 443 points at 25,883, led by strength in BA, GS, UNH, HD and MCD.  

All eleven sectors were higher on Friday, led by financial XLF +2.13% and energy XLE +1.61%.

SPY up 2.99 at 277.37 on 97.0 million shares, 11% above average volume. Up on higher volume.

VIX down 1.31 at 14.91

Oil up 1.73 at 56.20

TLT up .19 at 121.98 on 5.5 million shares. 

GS +3.10%, JPM +3.06%, led the DJIA, 28 advancers, +17

ANET +9.62%, CTL +7.51% and DLPH +5.77%, led the SPX.
LBTYA +2.97%, PEP +2.95%, ALXN +2.77%, and ILMN +2.51% led the NDX.

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

Up: IWM, DIA, SPY, QQQ,

Down:

Breadth strengthened on Friday, as advancers led 2,239 to 617 on the NYSE and led 2,179 to 841 on the NASDAQ

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

Uptrend sectors: XLRE, XLC, XLI, XLU,

Neutral sectors:  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: Up

79 of 100 NDX stocks closed higher on Friday.

90 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, 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, COST, HSIC, VRTX, WBA, BIIB, ILMN, SIRI,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

BIIB, ILMN, SIRI,

Moving Below 30 DMA = 1

HAS,   

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