QQQ, SPY, DIA Reach All-time Closing Highs on Friday following Tax Reform Developments...Changes to NDX Before the Open on Monday....

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After the Close Review of Friday’s market action…QQQ, SPY, DIA, IWM, XLK, XLP, more sectors, INTC, MSFT, UTX, TRV, JPM, AXP, AKAM…ASML, CDNS, SNPS, TTWO, WDAY, AAPL, GOOGL, FB, NVDA, COST, CMCSA, AVGO, AMZN, TLT, VIX, and more breakout setups…technical analysis insights…10:00 pm PST

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The NDX 100 will complete its annual changes before the open on Monday when AKAM, DISCA, NCLH, TSCO and VIAB will be removed from the index and ASML, CDNS, SNPS, TTWO and WDAY will be added.

Nine sectors were higher on Friday, led by technology XLK +1.14% and staples XLP +1.13%.

SPY up 2.21 at 266.51 after a 1.35 quarterly dividend on 144.6 million shares, 86% above average volume.  Up on higher volume.

VIX down 1.07 at 9.42

Oil up .22 to 57.39

TLT up .48 at 128.35…on 7.0 million shares, 8% below average volume.  Up on higher volume.

INTC +3.01%, and MSFT +2.55%, led the DJIA, 26 advancers.

UAA +9.77%, FCX +4.88%, and CAH +4.71%, led the SPX.

BMRN +5.07%, DISCA +4.99%, ESRX +3.67%, COST +3.32%, and INTC +3.01%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: IWM, QQQ, SPY, DIA

Down:

Breadth strengthened on Friday, as advancers led 2,036 to 900 on the NYSE and led 2,036 to 873 on the NASDAQ.

The SPY MFC green line is pointed up in the upper zone at 92, bullish.

Uptrend sectors:  XLY, XLI, XLF, XLB, XLV, XLP, XLE, XLRE,

Neutral sectors: XLK, XLU

Down trend sectors:

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past week and it is appropriate to wait for the uptrend to resume before considering entry… CBOE, VRSN, WYNN, BA, MCD, CAT, TRU, LYV, FCAU, CCL, RCL, SQ, CC, EDU, AA, ADBE, PYPL, ALGN, V, MU, FB, A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, WB, LRCX, NVDA, RACE, TAL,

85 of 100 NDX stocks closed higher on Friday.

67 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 9                            

EA, FB, HSIC, ILMN, KHC, PYPL, REGN, VRTX, XRAY

Moving Below 30 DMA = 1

SIRI,  

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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