SPX, NDX Make 3-month Closing Highs after Strong Jobs Report...Energy, Consumer Discretionary, Communication Services Lead All Sectors Higher...

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SPX +61.06, 6,000, gapped up after a better-than-expected Jobs Report, 139K vs 129K consensus, made a new three-month closing high and is just 2.34% from its all-time closing high on February 19 at 6,144.  Buyers reversed Thursday’s selloff as the 8-week uptrend resumed. 

The DJI, 42,762 +1.05%, closed higher.  The NDX +0.99% reversed Thursday’s bearish engulfing pattern with a positive gap up and made a new three-month closing high. 

Breadth was stronger on Friday on the exchanges, in the sectors and indexes.  Net change advancing capital led as institutions continued to buy and volatility dropped as more hedges were closed.

Friday Session Insight: In the broad market most of the index gains occurred in the pre-market after the positive Jobs Report at 8:30 am ET BMO.  After the open the markets held their gains trading in a range forming spinning tops.

TSLA +10.44, +3.67%, formed a black bullish harami candle in a reversal BO test on Thursday.

MDB -5.24, -2.32%, forming earnings flag on Friday, after a gap up on Thursday on a positive EPS reaction, EPS 1.00 beats 0.66 estimate.

AVGO -13.00, -5.00%, lower on negative EPS reaction as EPS 1.58 beats 1.56 estimate and revenue $15.00B beats $14.99B estimate.

Mega caps TSLA, GOOGL, AMZN, META, AAPL, NVDA, BRK/B, TSM, MSFT rose and AVGO, fell on Friday. 

SPY up 6.09 at 599.14, 66.5 million shares, average volume

VIX down 1.71 at 16.77,

QQQ up 5.13 at 529.92

CRM, AMZN, UNH, CVX led the DJIA, 25 advancers, +15

PLTR, MRNA, UAL, DAL, TER led the SPX, 420 advancers,

PLTR, MRVL, TSLA, GOOGL led the NDX, 87 advancers,

Up: IWM, DIA, SPY, QQQ,

Down:

The SPY MFC green line is up at 96.2 and is short-term bullish. +0.9

All eleven sectors were higher on Friday led by XLE, XLY and XLC. 

Uptrend sectors: XLI, XLU, XLK, XLY,

Neutral sectors: XLC, XLF, XLP, XLRE, XLB, XLE,

Down trend sectors: XLV,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

87 of 100 NDX stocks closed higher on Friday.

78 NDX stocks are above their 30 DMA: COST, CRWD, CTAS, MNST, MELI, NFLX, ADSK, AXON, BKNG, CDNS, IDXX, TTWO, CEG, INTU, ZS, ABNB, ADI, AMAT, ANSS, ARM, AVGO, DDOG, DXCM, ISRG, KLAC, LRCX, MAR, MCHP, MDB, MSFT, SNPS, TTD, PYPL, ADBE, HON, NVDA, PAYX, VRSK, ADP, AMD, CTSH, AMZN, APP, ASML, CSCO, META, MU, ON, CSX, GEHC, TXN, MRVL, WBD, DASH, BIIB, FAST, GOOGL, LIN, AZN, GILD, PANW, SBUX, AMGN, CCEP, BKR, QCOM, GFS, NXPI, CSGP, FTNT, ORLY, ROP, SNPS, TMUS, CDW, CMCSA, COST, EA, FANG, PCAR, PLTR,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

CDW, CMCSA, COST, EA, FANG, PCAR, PLTR,

Moving Below 30 DMA = 3

LULU, MDLZ, TEAM,

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