SPX Day 7 Trading Range...After-hours AMZN -6.73%, INTC +4.06%...

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After the close AMZN -119.78, -6.73% and INTC +2.12, +4.06% reported earnings.

SPX closes at 3,010, down -0.35% from Sep 19th 3,021 high and up +5.40% from its Oct 3 low of 2,856. 

The SPX gained 5 points.  Look for the institutional short-term focus to continue to be on EPS reactions Friday on SPX stocks AMZN, INTC, V, VRSN, VZ and more.

Our current technical assessment is an Aug – Oct (2,822 – 3,027) sideways channel with a seven-day trading range in the three-month ascending triangle.  Price action is likely to continue fluctuating between 2,840 support and 3,020 resistance until a breakout occurs.

The DJIA, closed down 28 points at 26,805 led by weakness in MMM, UNH, MCD, JNJ and CAT.  Closing below 27,000 for the fifth day.

Five of eleven sectors were higher on Thursday, led by XLK, XLP and XLU.

SPY up .49 at 300.37 on 35.8 million shares, below average volume.  Up on higher volume.

VIX down .30 at 13.71

Oil up .19 at 56.07

TLT down .28 at 139.20 on 6.8 million shares

GLD up 1.00 at 141.53

DOW, V, UTX led the DJIA, 8 advancers, -11

AMAT, ALLE, PYPL led the SPX, 238 advancers
TSLA, ALGN, LRCX, ORLY led the NDX, 70 advancers

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

Up: QQQ, SPY, 

Down: DIA, IWM,                                              

Breadth weakened on Thursday as decliners led 1,575 to 1,335 on the NYSE and led 1,646 to 1,401 on the NASDAQ

The SPX MFC green line is above 80 at 87 and is short-term bullish. 

Uptrend sectors: XLRE, XLU, XLP, XLK,

Neutral sectors:  XLF, XLY, XLC, XLI, XLB, XLV,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up a little

70 of 100 NDX stocks closed higher on Thursday.

68 NDX stocks are above their 30 DMA:  KLAC, AAPL, ASML, DLTR, CTXS, ROST, CTAS, ALGN, CELG, CHTR, NVDA, PEP, XRAY, COST, LULU, ROST, SWKS, TSLA, EXPE, ILMN, INTC, ISRG, ORLY, PAYX, AMGN, FAST, GOOGL, NTES, PCAR, SIRI, WYNN, AAL, AMD, GILD, INCY, VRTX, BKNG, CMCSA, ISRG, JBHT, JD, NTAP, QCOM, TMUS, UAL, WBA, FOXA, CSX, BIIB, KHC, PEP, ALXN, ATVI, CERN, EBAY, FB, HSIC, MAR,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 14

ADP, AMAT, AMZN, AVGO, BMRN, LRCX, MCHP, MELI, MSFT, MU, PYPL, SNPS, TTWO, WDC,

Moving Below 30 DMA = 4

CERN, CMCSA, EBAY, HSIC,

  

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