SPX, NDX Break Support, Then Rally to Close at Support on Friday...ETSY, TER, CTLT to Join S&P 500 Before the Open on Monday...

 
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NDX -143.97, -1.30%, opened higher, reversed lower to break Thursday’s support low, rallied and closed at Thursday’s low.   The selloff was led by weakness in AAPL, AMZN, GOOGL, MSFT and FB. 
 
SPX -37.54, -1.12%, closes at 3,319. SPX is an eight-day sideways consolidation that penetrated support on Friday.
 
Traders need to be prepared on Monday for a re-break of support or a channel bounce above the high of Friday, the low day.                                                                                            
 
Monday morning, Sept. 21, before the open ETSY, TER, CTLT will be added to the S&P 500 and HRB, COTY, KSS will be removed.
 
 
All eleven sectors were lower on Friday, led by XLV, XLF and XLP.
 
Healthcare leaders:  STE, CVS, BDX, JNJ
Financial leaders: BLK, PGR, MSCI, BEN
Consumer Staples leaders: KR, CLX
 
SPY down -3.85 at 330.65, declared a 1.339 dividend on Friday, on 105.8 million shares, above average volume, down on higher volume.
VIX down -.63 at 25.83
 
WBA, DOW, CAT led the DJIA, 4 advancers, -9
MRO, NWSA, STE, FLT led the SPX, 91 advancers
ZM, TSLA, SGEN, MRNA led the NDX, 20 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: IWM, DIA, SPY, QQQ,
 
Breadth weakened on Friday as decliners led 1,984 to 1,046 on the NYSE and led 1,853 to 1,599 on the NASDAQ
 
The SPY MFC green line is pointed down at 29.5 and is bearish.  Price action is a close just below Sept. 8 support in an 8-day W-pattern channel.
 
 
Uptrend sectors:  XLB, XLI, XLY, XLP, XLV, XLK, XLC,
Neutral sectors:  XLRE, XLF, XLU,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
 
20 of 100 NDX stocks closed higher on Friday.
 
24 NDX stocks are above their 30 DMA:   CMCSA, CPRT, CSX, SBUX, AVGO, ULTA, FOXA, JD, ZM, ALXN, ALGN, PAYX, TSLA, CTSH, INTC, NXPI, WDC, AMGN, CHTR, MU, SGEN, TCOM, BIDU, MRNA,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0
 

Moving Below 30 DMA = 11
ADP, CDW, CTAS, EXPE, MAR, NVDA, QCOM, ROST, TXN, VRTX, WDAY
 
 
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