MACD Divergence Bounce on Friday in Week 34 of Uptrend...

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SPY, QQQ, making a bull flag pullback in Week 34 of the current intermediate term up-trend…

                  (click image to enlarge)

Thursday’s MACD setup turned into entries on Friday and produced nice initial gains.

MACD Bullish Divergence Entries on Friday: SPY, DIA, FB, DIS…

                  (click image to enlarge)

The DJIA, closed up 306 points at 25,886, led by strength in AAPL, MMM, GS, JPM and MSFT.  Closing below 27,000 for the thirteenth straight day.  

All eleven sectors were higher on Friday, led by industrials XLI +1.93% and technology XLK +1.90%.

SPY up 4.20 at 288.85 on 85.8 million shares, 13% above average volume.  Up on lower volume.

VIX down 2.71 at 18.47

Oil up .15 at 54.85

TLT down 1.18 at 146.13 on 17.6 million shares. 

MMM +2.97%, DOW +2.60%, led the DJIA, 30 advancers, +11

GE +9.74%, WAB +7.25% and XEC +6.62% led the SPX.

NVDA +7.25%, BMRN +6.65%, MYL +5.22% and AMD +5.09% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up:  IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Friday, as advancers led 2,334 to 622 on the NYSE and led 2,417 to 663 on the NASDAQ

The SPY MFC green line turned down at 28 and is short-term bearish. 

Uptrend sectors: XLRE, XLU, XLP, XLY, XLK, XLB,

Neutral sectors:  XLC, XLV, XLI, XLF,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

98 of 100 NDX stocks closed higher on Friday.

25 NDX stocks are above their 30 DMA:  CTAS, SBUX, FISV, WDC, AMGN, CELG, KLAC, TTWO, VRSK, BKNG, VRTX, LRCX, NTES, NXPI, SYMC, GOOGL, JD, PEP, AAPL, ADP, HAS, INCY, JBHT, MDLZ, TXN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

AAPL, ADP, HAS, INCY, JBHT, MDLZ, TXN,

Moving Below 30 DMA = 0

  

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