QQQ All-time Closing High, SPY Pauses at Resistance...INTU, MU Lead NDX...Technology, Utilities, Discretionary Lead Sectors...

 
© 2021
 
 
QQQ made an all-time closing high on Friday, while paused at resistance.  DIA and IWM closed lower for the third straight day.  
 
RIVN +5.22, +4.23% rallied after a two-day pullback.  RIVN traded more than 500,000 contracts on its fourth day of options trading.
INTU +63.40, +10.08% on positive EPS reaction.
MU +6.01, +7.80% rises on upgrade
 
 
 
Monday: trading range
Tuesday: Retails Sales beat consensus, HD, positive EPS reaction, WMT negative EPS reaction,
Wednesday: LOW, TJX positive EPS reaction,
Thursday: NVDA positive EPS reaction, CSCO negative EPS reaction,  
Friday: INTU positive EPS reaction, AMAT, ROST negative EPS reaction,
 
SPX closed at 4,697 and NDX closed at 16,573
 
 
SPY down .84 at 468.89, on 57.3 million shares, average volume, down on higher volume.  
VIX up .32 at 17.91
QQQ up 2.24, +0.56% at 403.99
 
 
NKE, AAPL, AMGN, HD led the DJIA, 7 advancers, -4
ENPH, TSLA, BF/B, GNRC led the SPX, 169 advancers.
INTU, MU, MRNA, NVDA led the NDX, 38 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ,
Down: SPY, DIA, IWM,
 
SPY = BO setup
DIA = at support, break of support or channel bounce
QQQ = all-time new high close
IWM = nine-day bull flag pattern
 
Three of eleven sectors were higher on Friday, led by XLK, XLU and XLY.
 
Technology leaders: BBWI, GPS, AMZN, ETSY
Utilities leaders: NVDA, AAPL, AMD, MU
Consumer Discretionary leaders: MRNA, CVS, HUM, ZTS
 
Advancers were mixed on Friday as decliners led 2,190 to 1,162 on the NYSE and led 2,925 to 1,746 on the NASDAQ.
 
The SPY MFC green line is pointed up at 95.2 and is bullish.  SPY is a BO setup. 
 
 
Uptrend sectors:  XLK, XLB, XLI, XLY, XLP, XLRE, XLE, XLF, XLV,
Neutral sectors:  XLU, XLC,
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: Sideways
 
38 of 100 NDX stocks closed higher on Friday.
 
56 NDX stocks are above their 30 DMA:  TSLA, SGEN, DLTR, PAYX, ADP, CSX, TEAM, CTAS, MRVL, NTES, PEP, VRSK, XLNX, AMD, MSFT, WDAY, ADSK, ANSS, AVGO, CPRT, CTSH, EXC, NVDA, AAPL, ADBE, COST, INTU, LULU, CDNS, DXCM, QCOM, AEP, SNPS, GOOGL, REGN, ASML, ADI, AMAT, CDW, KLAC, NXPI, PTON, VRSN, ALGN, LRCX, MCHP, MU, AMZN, MNST, JD, NFLX, FB, GILD, XEL, TXN, IDXX,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
IDXX,
 
Moving Below 30 DMA = 11
CERN, HON, ISRG, KDP, MDLZ, OKTA, ORLY, ROST, SBUX, SIRI, VRTX,
 
 
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