Friday, January 15, 2021

SPX, NDX, DJI Close Lower for the Week...Markets Closed Monday...

 
© 2021
 
SPX opened lower and closed lower on Friday and made lowest close for the week.   Markets are closed Monday for the MLK, Jr holiday.  Enjoy the three-day weekend.
 
NDX -94.76, -0.73%, now a five-day bull flag setup.
 
SPX -27.29, -0.72%, closed at 3,768, is a five-day bull flag pattern.
 
TSLA fell -2.23%, is forming a bull flag setup.
 
Four of eleven sectors were higher on Friday, led by XLRE, XLU and XLC. 
 
Real Estate leaders: EQIX, MAA, PLD, AMT
Utilities leaders: NI, CNP, LNT, PEG
Communication Services leaders: FB, TMUS, LUMN, CHTR
 
SPY down 2.76 at 375.70 on 107.1 million shares, above average volume, down on higher volume.
VIX up 1.09 at 24.34
 
HD, AMGN, MRK MCD led the DJIA, 8 advancers, -6
NI, ABMD, AKAM, SWN led the SPX, 188 advancers
SGEN, FB, ALGN, XEL, AEP led the NDX, 34 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: DIA, SPY, QQQ, IWM,
 
Advancers weakened on Friday as decliners led 2,153 to 1,019 on the NYSE and led 2,657 to 1,194on the NASDAQ
 
The SPY MFC green line is pointed down at 84.4 and is counter-trend defensive.  Price action is a five-day pullback.
 
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 up a little.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendDown
 
34 of 100 NDX stocks closed higher on Friday.
 
58 NDX stocks are above their 30 DMA:   ALGN, TXN, ADI, AMAT, MU, MXIM, ASML, MNST, CSCO, AVGO, ADSK, TSLA, PYPL, ANSS, ATVI, BIDU, CDNS, ILMN, SNPS, CHKP, CERN, IDXX, ALXN, SWKS, ORLY, NTES, MRVL, PTON, AMGN, INTC, JD, PDD, KLAC, NXPI, EBAY, GILD, LRCX, WBA, BIIB, FOXA, MCHP, QCOM, CSX, EXC, FAST, PCAR, CDW, CTAS, DOCU, INCY, MELI, REGN, SPLK, EA, ZM, MTCH, INTU, SGEN,
 
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
MTCH, INTU, SGEN,
 
Moving Below 30 DMA = 4
AAPL, BKNG, ISRG, OKTA,
 
 
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