NDX, RUT, SPX, DJI Closed Higher...Positive Market Reaction on Below Consensus Jobs Report...

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Our iBullyBear Mentoring account achieved a new all-time Net Liq high on strength in MU, AMUU, LITE, AMAT and other gainers on Friday.

Improve trading results by employing a systematic approach to decision-making in the face of uncertainty.  If you want to improve your skills contact us through the iBullyBear link above.

More to follow...

SPY +5.65, +0.74%, above average volume of 46.3 million shares, close above the high of the low day. 

VIX -1.08, 15.31 fell.

NDX +1.00% price closed above its June high, also at an all-time high.

DJI, 51,176 +0.49%, closed above the high of the low day.

Up: QQQ, IWM, SPY, DIA,

Down: 

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

SPCX closed at 158.96, +10.89, volume of 119.5 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s long-term fundamental future. 

The SPY MFC green line turned up at 58.6, price-action on Friday is a close above the high of the low day bounce and is short-term bullish. +1.0.

Ten of eleven sectors were higher on Friday.  XLK +1.01%.

58 of 100 NDX stocks closed higher on Friday.

44 NDX stocks are above their 30 DMA: MSTR, QCOM, AAPL, META, AMD, INTC, CRWD, FTNT, PANW, ISRG, LITE, MRVL, PLTR, MU, NXPI, SNDK, ADI, ALAB, NBIS, NVDA, TER, TXN, DDOG, MPWR, MSFT, RKLB, WBD, ASML, MAR, KLAC, LRCX, MCHP, SNPS, AMAT, CDNS, SPCX, CRWV, HON, FAST, COST, CSCO, GOOGL, LIN, TSLA,

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 5

COST, CSCO, GOOGL, LIN, TSLA,         

Moving Below 30 DMA = 3

ROST, STX, WDC,

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RUT, NDX, SPX, DJI Closed Higher...Breadth Improved...MU a Big EPS Beat and Buying Opportunity...

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Our iBullyBear Mentoring account achieved a new all-time Net Liq high on strength in LITE, MU, CIEN, AMAT and other gainers on Thursday.

Improve trading results by employing a systematic approach to decision-making in the face of uncertainty.  If you want to improve your skills contact us through the iBullyBear link above.

On Wednesday, MU closed at 1065.11, then reported earnings after the close of EPS $33.42 beats $31.45 estimate, Sales $54.229B beat $50.751B estimate. Today, Thursday morning, after a lower open of $1054.08, MU fell to a low of 1022.90 within the first hour before a reversal that led to a close of 1097.39.  Why a huge MU beat and initially a lower price you ask?

We teach iBullyBear members that “the stock market is efficient for liquidity, not for value or price.  It is the imbalances in supply and demand that cause prices to fall or rise, not fair value or fair price.”

Did you take advantage of that inefficient price this morning?  We did and it paid off big.

SPX +14.91, 7,666 opened higher, sold off, reversed, rallied, formed a long lower shadow before closing higher. Breadth improved as advancers led the NYSE and decliners led by less than 100 issues on the NASDAQ exchange.  The NDX moved closer to a resistance breakout.  The SPX since August 4 is in a sideways consolidation pattern.

RUT 2,806 rose +9.76, a three-month low bounce, piercing line candle.

Oil /CL rose +2.57 and closed at 92.91.  

SPX advancers: ACN SNPS FICO COHR CIEN LITE MPC CDNS CDW VLO MCK.

SPX decliners: PSKY MKC DHR INCY DIS AMGN TMO A KMB WAT APP.

SPY +1.36, +0.18%, above average volume of 47.7 million shares, range day. 

VIX +0.05, 16.39 rose slightly.

NDX +0.31% a bull flag bounce above the high of the low day, price closed just below its June high, also a setup for a HBO to an all-time high.

DJI, 50,926 +0.04%, a black hammer candle.

Up: IWM, QQQ, SPY, DIA,

Down:  

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

SPCX closed at 148.07, -2.79, volume of 68.9 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s long-term fundamental future. 

The SPY MFC green line is flat at 57.6, price-action on Thursday is a bullish harami intraday bounce, potential bull flag setup and is counter-trend defensive. -0.7

Five of eleven sectors were higher on Thursday.  XLK +1.05%.

56 of 100 NDX stocks closed higher on Thursday.

42 NDX stocks are above their 30 DMA: MSTR, QCOM, AAPL, META, AMD, INTC, CRWD, FTNT, PANW, ISRG, LITE, MRVL, PLTR, MU, NXPI, SNDK, ADI, ALAB, NBIS, NVDA, STX, TER, TXN, DDOG, MPWR, MSFT, RKLB, WBD, ASML, MAR, KLAC, LRCX, MCHP, SNPS, AMAT, CDNS, ROST, SPCX, CRWV, HON, WDC, FAST,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 1

FAST,         

Moving Below 30 DMA = 4

AMGN, GILD, GOOGL, LIN,

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NDX Closed Higher...SPX, RUT, DJI Closed Lower...MU Reports EPS Beat AMC...

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MU reported after the close Q4 EPS $33.42 Beats $31.45 Estimate, Sales $54.229B Beat $50.751B Estimate.  Market chatter seemed to be anticipating MU earnings after the close.

SPX -19.30, 7,651 opened higher, rallied, started to drift lower in the afternoon, fell in the last 15 minutes in expectation of MU EPS after the close. Breadth remained negative as decliners led on both the NYSE and the NASDAQ exchanges.  The NDX remained near resistance.  The SPX since August 4 is in a sideways consolidation pattern.

RUT 2,796 fell -11.05, a three-month closing low. Oil /CL rose +1.38 and closed at 90.31.  

SPX advancers: GEN CBOE SNPS HPE FDS INTC ACN PSKY NOW ADBE INTU.

SPX decliners: JBL MRNA APP GIS BE CAG GM NOC MKC FICO CEG.

SPY -1.57, -0.21%, above average volume of 61 million shares, range day. 

VIX +0.30, 16.34 rose.

NDX +0.23% bull flag setup, price just below its June high, also a setup for a horizontal resistance breakout to an all-time high.

DJI, 50,906 -0.86%, a red candle.

Up: QQQ,

Down: SPY, IWM, DIA,

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

SPCX closed at 150.86, +1.62, volume of 79.1 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s long-term fundamental future. 

The SPY MFC green line is down at 58.3, price-action on Wednesday is a pause lower close day and is counter-trend defensive. -2.0

One of eleven sectors was higher on Wednesday.  XLK +0.64%.

45 of 100 NDX stocks closed higher on Wednesday.

45 NDX stocks are above their 30 DMA: GILD, MSTR, QCOM, AAPL, META, AMD, INTC, CRWD, FTNT, PANW, ISRG, LITE, MRVL, PLTR, MU, NXPI, SNDK, ADI, ALAB, NBIS, NVDA, STX, TER, TXN, DDOG, MPWR, MSFT, RKLB, WBD, ASML, MAR, KLAC, LRCX, MCHP, SNPS, AMAT, CDNS, ROST, AMGN, SPCX, CRWV, GOOGL, HON, LIN, WDC, 

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 5

CRWV, GOOGL, HON, LIN, WDC,         

Moving Below 30 DMA = 5

ALNY, AZN, COST, FAST, IDXX,

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