Friday, September 6, 2019

SPX Closes 2,978...Highest Since July 30...


© 2019

This week:
  • 36 NDX 100 stocks moved and stayed above their 30 DMA.
  • The SPX broke out of its August 2 – September 4 sideways channel with a S&R measuring distance of 121 points and a potential price target of 3,064, which would be a new all-time high, in approximately four weeks. 
  • SPX has moved 34 points in two days.
  • VIX falls to 15.00, its lowest close since July 30.

The DJIA, closed up 69 points at 26,797 led by strength in HD, BA, TRV, V and INTC.  Closing below 27,000 for the twentieth-sixth straight day.

Seven of eleven sectors were higher on Friday, led by energy XLE +0.53% and discretionary XLY +0.24%.

SPY up .23 at 298.05 on 49.5 million shares, below average volume.  Up on lower volume.
VIX down 1.27 at 15.00
Oil up .56 at 56.73
TLT up 1.03 at 145.79 on 9.4 million shares. 
GLD down 1.22 at 141.92

INTC +1.64%, HD +1.31%, led the DJIA, 20 advancers, -6
DLPH +5.74%, PRGO +3.65% and TPR +3.36% led the SPX.
LULU +7.82%, SYMC +4.47%, ALXN +3.55% and NTES +2.86% led the NDX.


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

Up: DIA, SPY,
Down: QQQ, IWM,

Breadth weakened on Friday, as advancers led 1,666 to 1,246 on the NYSE and decliners led 1,628 to 1,420 on the NASDAQ

The SPY MFC green line is pointed up at 62 and is short-term bullish

Uptrend sectorsXLRE, XLU, XLP, XLY, XLK, XLC, XLI, XLF, XLB,
Neutral sectors:  XLV,
Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp

51 of 100 NDX stocks closed higher on Friday.

71 NDX stocks are above their 30 DMA:  SBUX, FISV, AMGN, CELG, KLAC, TTWO, VRSK, NTES, SYMC, PEP, EA, SNPS, INTU, ADP, ATVI, BKNG, CHTR, COST, JBHT, MDLZ, CMCSA, IDXX, QCOM, AAPL, MYL, ORLY, SIRI, ASML, LRCX, MU, NVDA, ROST, WDC, WLTW, DLTR, LBTYA, AMAT, AVGO, CSX, CTAS, CTSH, CTXS, INTC, JD, MSFT, NXPI, PYPL, TXN, AAL, ADI, AMZN, EBAY, EXPE, CDNS, FAST, FB, GOOGL, LULU, MCHP, MXIM, NTAP, PAYX, SWKS, TSLA, VRTX, WBA, ADSK, CTRP, GILD, TMUS, UAL, VRSN,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 6
ADSK, CTRP, GILD, TMUS, UAL, VRSN,

Moving Below 30 DMA = 3
AMD, BIDU, ISRG,

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