RUT, NDX, SPX, DJI Bounce as Mega Caps Pause, VIX Rises...Consumer Discretionary, Energy, Communication Services...AMZN Up on Positive EPS Reaction...

 

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SPX +17.86, 6,840, closed above 6,800 for the fifth time.  Breadth strengthened on Friday accompanied with heavy buying in AMZN.  Government shutdown continued for the thirtieth-first day.  Apparently, politicians have prioritized their political objectives over a fully functioning government.

Post earnings trading was mixed in GOOGL, META, MSFT, AMZN and AAPL on Thursday and Friday but the SPX still finished 48 points higher for an all-time weekly high close.  Traders seemed to like the Fed 25 basis point rate cut, progress in US, China trade talks and EPS reports from GOOGL and AMZN.   

The four-week SPY trend is up.  The three- and six-month trends are up.  Dave

Earnings:

BRK/B reports on Saturday morning.  IDXX L ON PEG PNW report EPS before the open on Monday.  CLX CTRA EMN FANG HOLX O PLTR SBAC SPG VRTX WMB report Monday after the close.

NDX +0.48%, bull flag pattern. 

DJI, 47,562, +0.09%, bull flag pattern, led by AMZN, AMGN and CVX.

Mega Cap Price Action: AMZN +21.36, +9.58%, AAPL -1.03, -0.38%,

NVDA -0.40, -0.20%, bull flag pattern.

AVGO -6.84, -1.82%, breakout test.

ORCL +5.72, +2.23%, broke short and intermediate-term support.

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

SPY up +2.23 at 682.06, 87.1 million shares, above average volume.

VIX up +.53 at 17.44,

QQQ up +3.02 at 629.07

AMZN, CVX, AMGN, VZ led DJIA, 14 advancers, -4

FSLR, AMZN, WDC, CHD led SPX, 263 advancers,

AMZN, MSTR, MRVL, TEAM led NDX, 58 advancers.

Up: IWM, QQQ, SPY, DIA,

Down:

The SPY MFC green line is pointed down at 88 and price-action is short-term bullish. -3.2

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

Uptrend sectors: XLK, XLU, XLV, XLI, XLC, XLY, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little 

58 of 100 NDX stocks closed higher on Friday.

54 NDX stocks are above their 30 DMA: MU, INTC, PANW, ASML, LRCX, DDOG, WBD, ZS, CRWD, AMAT, MRVL, XEL, EA, AEP, VRTX, AMD, AMGN, ARM, AZN, GILD, AAPL, GOOGL, KLAC, ROST, ABNB, CSCO, KDP, ISRG, BIIB, MDB, QCOM, CTSH, PCAR, TEAM, AVGO, CEG, MRVL, NVDA, PDD, PLTR, AMZN, AXON, REGN, MELI, TSLA, BKR, CDW, CSX, GFS, APP, FTNT, ODFL, TTWO, WDAY,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 5

APP, FTNT, ODFL, TTWO, WDAY,   

Moving Below 30 DMA = 6

DXCM, EXC, GEHC, MSFT, ON, PEP,

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