SPX, NDX, RUT Close Below 3-month Low as Selloff Continues...NFLX Leads NDX, SPX Lower on a Negative EPS Reaction...Staples Leads Sectors...

 
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SPX, DJI, NDX and RUT opened lower and closed lower on Friday after a morning rally where each of the indexes had turned positive.  SPX, NDX and RUT closed below their 3-month low.  NFLX -110.75, -21.79% gapped down on a negative earnings reaction and led both the NDX and SPX lower.
 
 
Chart Signals has been short-term bearish since Wednesday and defensive since a week ago on Thursday, January 13.
 
 
SPX closed at 4,397 -84.79.
NDX closed at 14,438, -408.06.
 
 
Earnings season Friday EPS reports from SLB, HBAN and INFO BMO.
Earnings Reports:
Positive reactions: TRV, BKR, AA, UNP, PG, MS, WFC,
Neutral reactions: INFO, KMI, BAC, UNH, JBHT, PLD, FAST, TFC
Negative reactions: NFLX, SIVB, HBAN, ISRG, PBCT, CSX, PPG, SLB, RF, MTB, NTRS, FITB, KEY, AAL, DFS, UAL, USB, STT, CFG, CMA, BK, GS, PNC, SBNY, SCHW, TFC, C, BLK, FRC, JPM
 
 
SPY down 8.77 at 437.98, on 202.2 million shares, above average volume, down on higher volume.   
VIX up 3.26 at 28.85
QQQ down 10.03, -2.77% at 351.69
 
MCD, PG, NKE, INTC led the DJIA, 3 advancers, -1
VTR, VFC, BKR, KMX led the SPX, 97 advancers.
PTON, TXN, XLNX, REGN led the NDX, 16 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: 
Down:  DIA, IWM, SPY, QQQ,
 
One of eleven sectors was higher on Friday, led by XLP, XLRE and XLU.
 
Consumer Staples leaders: CLX, SJM, CHD, KMB
Real Estate leaders: VTR, CBRE, IRM, WELL 
Utilities leaders: NRG, ED, DUK, ES
 
Advancers weakened on Friday as decliners led 2,765 to 679 on the NYSE and led 3,985 to 905 on the NASDAQ.
 
The SPY MFC green line is pointed down at 16.7 and is short-term bearish.  SPY closed below December’s low and continues to move towards its October low. 
 
 
Uptrend sectors:  XLE, XLP, XLU,
Neutral sectors: XLF, XLI, XLB, XLRE, XLV, XLK, XLY,
Down trend sectors: XLC,
 
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.
 
20 NDX stocks are above their 30 DMA:  VRTX, XEL, PEP, AEP, AMGN, WBA, CERN, MDLZ, INCY, KDP, CHKP, ATVI, EXC, KHC, PCAR, BIDU, SPLK, EA, JD, PDD,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0
 
Moving Below 30 DMA = 4
BKNG, CMCSA, FISV, NTES,
 
 
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