SPX Higher Open, Higher Close Regains Thursday's Late Pullback as VIX Drops to Nine Week Closing Low...

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The SPX recovered from Thursday’s GILD news correlated pullback and continued the bull flag bounce that began on Wednesday.  For the second expiration Friday in a row, the SPX +38.94, +1.39%, had an afternoon rally and VIX dropped going into the close. 

While individual EPS reactions over the first two weeks of earnings season have been mixed the SPX is +72.11, +2.72% over the past nine trading days since April 13.  Next week is the biggest EPS reporting week with 171 scheduled EPS reports from SPX companies.

All eleven sectors were higher on Friday, led by XLK, XLY and XLB

SPY up 3.89 at 282.97 on 85.1 million shares, below average volume, up on lower volume.

VIX down 5.45 at 35.93

HD, AAPL, IBM led the DJIA, 27 advancers, +12

FCX, IVZ, SIVB, KMX led the SPX, 412 advancers

CPRT, NXPI, EXPE, NTAP led the NDX, 90 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is a bull flag bounce and is up.

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Friday as advancers led 1,834 to 1,107 on the NYSE and led 2,135 to 1,100 on the NASDAQ

The SPX MFC green line is pointed up at 85 and is a short-term bullish.

Uptrend sectors:  XLV, XLP, XLK, XLC, XLY, XLB, XLU,

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

90 of 100 NDX stocks closed higher on Friday.

93 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, BIDU, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

WDC,  

Moving Below 30 DMA = 0

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