Friday Support Bounce from the SPX 2900 Area Again...

© 2020

All eleven sectors were lower on Friday, led by XLV, XLP and XLU

SPY down 5.00 at 297.46 on 228.6 million shares, above average volume.  Down on higher volume.

VIX up 2.32 at 41.94

WBA, MMM, DIS led the DJIA, 12 advancers, +11

COG, FOSL, GCI led the SPX, 85 advancers

GILD, DLTR, ORLY XEL led the NDX, 17 advancers

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

Up:

Down: DIA, SPY, QQQ, IWM,

Breadth strengthened slightly, on Friday as decliners led 2,461 to 540 on the NYSE and led 2,620 to 686 on the NASDAQ

The SPX MFC green line is above 20, pointed up at 35 and is short-term bullish. 

Uptrend sectors:  XLU, XLK, XLV, XLRE, XLP, XLC,

Neutral sectors:  XLY, XLI, XLB,

Down trend sectors: XLF, XLE,

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

3-month Intermediate Term Market Trend: Down a little

3-day Short Term Market Trend: Down a little

17 of 100 NDX stocks closed higher on Thursday.

14 NDX stocks are above their 30 DMA:  NFLX, GILD, BMRN, REGN, NVDA, BIIB, CSGP, JD, EBAY, COST, SGEN, XEL, CTXS, TTWO,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

CTXS, TTWO,

Moving Below 30 DMA = 6

ATVI, EA, INCY, NTES, TMUS, VRTX,

Add Comments here