Tech Leads Broad Rally after May Jobs Report, SPX Closes Near All-time High on May 7...

 
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Jerome Powell, Fed Chairman, spoke Friday at 7 am ET on the BIS Green Swan virtual conference panel discussion with no apparent influence on /ES futures.  Futures did rise after May’s Jobs Report at 8:30 am ET.
 
SPX opened higher and rallied throughout the day to its second highest close ever, closing less than 3 points below its all-time closing high on May 7.    Semiconductor stocks SMH opened higher and closed higher and bounced above the high of the low day in its 2-day bull flag. 
 
DJI +179.35, +0.52%, closed at 34,756.  CRM, MSFT, GS and MMM were the largest point gainers on Friday.
NDX +241.09, +1.78%, closed at 13,770.
SPX +37.04, +0.88%, closed at 4,229.
 
TSLA +4.58%, channel bounce setup.
 
SPY = bull flag bounce, HBO setup.
DIA = bull flag bounce.
QQQ = bull flag bounce, HBO setup.
IWM = bull flag setup.
 
Ten of eleven sectors were higher on Friday, led by XLK, XLC and XLY.
 
Technology leaders: IPGP, ADSK NVDA, JNPR
Communication Services leaders: TTWO, TWTR, EA, GOOGL
Consumer Discretionary leaders: TSLA, APTV, EBAY, TSCO
 
SPY up 3.83 at 422.60, on 55.9 million shares, below average volume, up on lower volume. 
VIX down 1.62 at 16.42
 
CRM, MSFT, INTC, AAPL led the DJIA, 23 advancers, +7
TSLA, IPGP, TTWO, ADSK led the SPX, 338 advancers.
DOCU, MRNA, ZM, BIIB led the NDX, 90 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, IWM
Down:
 
Advancers strengthened on Friday as advancers led 2,117 to 1,189 on the NYSE and led 2,577 to 1,692 on the NASDAQ.
 
The SPY MFC green line is pointed up at 86.4 and is bullish.  SPY bounced in its bull flag and rallied to resistance for a BO setup. 
 
 
Uptrend sectors:  XLRE, XLF, XLE, XLB, XLI, XLC, XLP, XLK, XLY, XLV, XLU,
Neutral sectors: 
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up a little
 
90 of 100 NDX stocks closed higher on Friday.
 
68 NDX stocks are above their 30 DMA:  COST, CERN, ALXN, MDLZ, KHC, PEP, TMUS, SGEN, CSCO, PAYX, INTU, WDC, TCOM, NTES, ATVI, FB, MXIM, ADI, ADP, GOOGL, IDXX, ILMN, MRVL, NXPI, ZM, NVDA, PTON, AMAT, ASML, AVGO, CMCSA, EA, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, SIRI, AMD, EBAY, EXC, REGN, XLNX, JD, MAR, PDD, DXCM, MNST, WBA, ADBE, ADSK, BIIB, CHKP, CHTR, CPRT, CTAS, DOCU, FAST, GILD, INCY, INTC, KLAC, LULU, MSFT, MU, QCOM, TEAM,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 18
ADBE, ADSK, BIIB, CHKP, CHTR, CPRT, CTAS, DOCU, FAST, GILD, INCY, INTC, KLAC, LULU, MSFT, MU, QCOM, TEAM,
 
Moving Below 30 DMA = 0
 
                                                                                                                   
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