Selloff Resumes on Friday as All Sectors Fall...AAPL, FB, TSLA Decline...Earning's Continue Next Week...

 
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Stocks experienced a broad decline on Friday reversing Thursday’s rally and continuing Wednesday’s FOMC selloff.  Earning’s season continues next week with reports from AMZN, GOOL, PYPL, QCOM, KLAC, EBAY, ATVI, GILD, TMUS, PTON and many other SPX companies.
 
NDX -237.94, -1.81%, and SPX -73.14, -1.93%, closed at 3,714, closing  below both Wednesday’s low and its January 15 support
 
AAPL, FB and TSLA continued to fall on Friday after reporting earnings after the close on Wednesday.  TSLA fell another -5.02%.
 
 
All eleven sectors were lower on Friday, led by least weak XLU, XLV and XLRE. 
 
Utilities leaders: DUK, NRG, ED, XEL
Healthcare leaders: BIIB, HOLX, DGX, LH
Real Estate leaders: IRM, CCI, EXR, EQIX
 
SPY down 7.56 at 370.07 on 126.7 million shares, above average volume, down on higher volume.
VIX up 2.88 at 33.09
 
MCD, CRM, IBM, CAT led the DJIA, 1 advancer, -20
GCI, SWKS HOLX, DGX led the SPX, 61 advancers.
MRNA, WDC, SWKS, BIIB led the NDX, 16 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: 
Down: IWM, SPY, DIA, QQQ,
 
Advancers weakened on Friday as decliners led 2,312 to 865 on the NYSE and led 2,776 to 1,145 on the NASDAQ.
 
The SPY MFC green line is pointed down at 68 and is defensive, there was a break of Wednesday’s low.  Price action is a short-term break of support.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Neutral sectors:  XLRE,
Down trend sectors:
 
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
 
16 of 100 NDX stocks closed higher on Friday.
 
33 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, TSLA, BIDU, ILMN, CERN, SWKS, NTES, MRVL, AMGN, INTC, PDD, KLAC, EBAY, GILD, WBA, BIIB, FOXA, PCAR, CTAS, EA, GOOGL, MSFT, MRNA, SIRI, WDC, DXCM, MELI, MU, NFLX, QCOM, ATVI,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
ATVI,
 
Moving Below 30 DMA = 15
AAPL, ALXN, AMZN, CDW, CHKP, CHTR, CMCSA, CSCO, INCY, JD, KHC, REGN, SNPS, TXN, ZM,
 
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