Jobs Report followed by Strong Rally Back to August Resistance...

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Fri Oct 6 - Jobs Report – 136K vs 145K consensus, unemployment rates falls to 3.5% a 50 year low vs 3.7% forecast, Aug revised to 168K from 130K

Upcoming:

Wed Oct 9 – FOMC Minutes

Thu Oct 10 – US/China Trade Talks resume

Tue Oct 15 – Earnings Season unofficial start with JPM, C, WFC, GS, JNJ, UNH, UAL, SCHW, JBHT, PGR, BLK, FRC, OMC, PLD,

Wed Oct 30 – next FOMC Meeting Announcement

Thu Oct 31 – Brexit deadline

SPX closes at 2,952, down -2.29% from Sep 19th 3,021 high and up +3.35% from its Oct 3 low of 2,856. 

Our current technical assessment is a sideways trading range above prior resistance at 2,940 and in the Sep 5 gap between 2940 – 2,960.  
The DJIA, closed up 372 points at 26,573 led by strength in AAPL, UNH, BA, GS and TRV.  Closing below 27,000 for the eleventh straight day.

All eleven sectors were higher on Friday, led by financial XLF +1.85% and technology XLK +1.65%.

SPY up 3.93 at 294.35 on 66.7 million shares, 7% below average volume.  Up on lower volume.

VIX down 2.08 at 17.04

Oil up .70 at 53.01

TLT up 1.07 at 145.99 on 11.9 million shares.

GLD unchanged .00 at 141.90

AAPL +2.80%, MRK +2.73% led the DJIA, 30 advancers, +8

CB +3.59%, TMO +3.59% and SWN +3.30% led the SPX.

SWKS +4.37%, CHKP +2.87%, MDLZ +2.68% and CHTR +2.65% led the NDX.

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

Up: QQQ, DIA, SPY, IWM,

Down:                                                                  

Breadth strengthened on Friday as advancer led 2,200 to 725 on the NYSE and led 2,074 to 989 on the NASDAQ

The SPX MFC green line is below 80 and is pointed down at 52 and is short-term defensive.

Uptrend sectors: XLU, XLRE, XLP, XLF, XLI, XLB, XLY, XLK, XLC,

Neutral sectors:  XLV, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up a little

89 of 100 NDX stocks closed higher on Friday.

43 NDX stocks are above their 30 DMA:  KLAC, AAPL, ASML, LRCX, DLTR, CTXS, NXPI, TXN, EXPE, MCHP, HAS, ROST, CTAS, ALGN, ULTA, PAYX, ATVI, CELG, CHTR, ILMN, INTC, ISRG, NVDA, PEP, SIRI, XRAY, ADI, AMAT, CHKP, COST, FAST, FISV, GOOGL, HSIC, IDXX, LULU, MDLZ, MSFT, MXIM, NTAP, QCOM, ROST, SNPS, SWKS,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 18

ADI, AMAT, CHKP, COST, FAST, FISV, GOOGL, HSIC, IDXX, LULU, MDLZ, MSFT, MXIM, NTAP, QCOM, ROST, SNPS, SWKS,  

Moving Below 30 DMA = 1

ULTA,

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