Lower Open, Higher Close as SPX Finds Short-term Support Following Higher than Expected Weekly Jobless Claims...Jobs Report Friday before the Open...

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• Weekly Jobless Claims 6.648 mil vs. 3.350 mil est.
• SP futures fall 50+ points within 45 minutes
• President spoke with Putin and Saudis, expects announcement of 10 mil bpd cut
• Oil rises 16.5%
• SPX +56.40, +2.28% closes higher
• VIX made its lowest close since March 10. 
• Employment Situation (Jobs Report) due 8:30 am ET Friday morning.

All eleven sectors were higher on Thursday, led by XLE, XLU and XLV

SPY up 5.68 at 251.83 on 177.6 million shares, below average volume.  Up on lower volume.

VIX down 6.15 at 50.91

CVX, XOM, CAT led the DJIA, 26 advancers, +25

OXY, APA, FANG, HP led the SPX, 337 advancers

VRTX, SGEN, ILMN, GILD led the NDX, 75 advancers

Two-year trend term continues above 2018 support.  3-day short term trend is down.

Up: SPY, DIA, QQQ, IWM,

Down:

Breadth strengthened on Thursday as advancers led 1,758 to 1,199 on the NYSE and led 1,866 to 1,407 on the NASDAQ

The SPX MFC green line pointed down at 29.7 and is a short-term bearish. 

Uptrend sectors: 

Neutral sectors: 

Down trend sectors: XLK, XLV, XLU, XLRE, XLC, XLP, XLY, XLI, XLB, XLF, XLE,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

75 of 100 NDX stocks closed higher on Thursday.

26 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, BIIB, BMRN, CHKP, CSCO, EA, GILD, IDXX, ILMN, INTC, KHC, NVDA, VRSN, XLNX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 15

AMGN, ATVI, BIIB, BMRN, CHKP, CSCO, EA, GILD, IDXX, ILMN, INTC, KHC, NVDA, VRSN, XLNX,

Moving Below 30 DMA = 1

JD,

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