Broad Selloff Pivots at Noon as SPX, NDX Form Hammer on Afternoon Rally...Consumer Staples, Energy, Utilities Led Sectors...

© 2025

SPX +8.48, 6,728, closed below 6,800.  Breadth strengthened on Friday as advancers and advancing capital increased.  Government shutdown continued for the thirty eightth day.  Apparently, politicians continue to prioritize their political objectives over a fully functioning government. 

SPY hits an intraday low before reversing and forming a hammer on an 8-day pullback breakout test.  The visual evidence continues to indicate that even with the short-term pullback, the intermediate trend is more probable to continue rising.  Remember an uptrend is a series of higher highs and higher lows.  To be an uptrend there must be a pullback to a higher low.  The four-week SPY trend is up.  The three- and six-month trends are up.  Dave

Earnings: There are 8 SPX earnings reports next week including CSCO on Wednesday and DIS, AMAT on Thursday. 

NDX -0.28%, 7-day bull flag pullback, formed hammer. 

DJI, 46,912, +0.16%, 8-day bull flag pullback formed hammer, led by MMM, DIS and AMGN.

EXPE +38.55, +17.55%, a positive EPS reaction and AKAM +10.74, +14.71%, a positive EPS reaction.

NVDA +0.07, +0.04%, hammer in a bull flag pullback.

AVGO -6.06, -1.73%, hammer in a re-breakout setup.

ORCL -4.54, -1.86%, remained below short and intermediate-term support, form dragonfly doji.

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

SPY up +.66 at 670.97, 100.5 million shares, above average volume.

VIX down -0.42 at 19.08,

QQQ down -1.93 at 609.74

KO, SHW, AMGN, CVX led DJIA, 20 advancers, +10

EXPE, AKAM, SOLV, NWSA led SPX, 391 advancers,

MNST, SBUX, DASH, MAR led NDX, 60 advancers.

Up: IWM, DIA, SPY,

Down: QQQ,

The SPY MFC green line is pointed down at 61.4 and price-action is defensive. -6.0

Nine of eleven sectors were higher on Friday led by XLP, XLE and XLU. 

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

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little 

60 of 100 NDX stocks closed higher on Friday.

40 NDX stocks are above their 30 DMA: MU, LRCX, WBD, ZS, CRWD, AMAT, MRVL, EA, AEP, AMD, AMGN, GILD, AAPL, GOOGL, KLAC, ROST, CSCO, ISRG, BIIB, MDB, QCOM, CTSH, MRVL, PDD, AMZN, REGN, IDXX, MAR, PCAR, AZN, DDOG, BKR, CCEP, FANG, INTC, MNST, ODFL, SBUX, TEAM, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 9

BKR, CCEP, FANG, INTC, MNST, ODFL, SBUX, TEAM, XEL,

Moving Below 30 DMA = 4

ASML, AVGO, TSLA, VRTX,

Add Comments here: