SPX, -0.21%, Pulls Back After Press Conference on China Announced for Friday...

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NDX -25.33, -0.27%, and SPX -6.40, -0.21%, opened higher and was in a breakout continuation rally most of the day, but lost upward momentum about 45 minutes before the close after an announcement that the President will hold a press conference Friday on China. The NDX is a bull flag setup.  The SPX is a breakout continuation setup. 

COST and CRM reported EPS after the close and both were trading lower in after-hours trading.

Five of eleven sectors were higher on Thursday, led by XLU, XLV and XLRE

SPY down .56 at 302.97 on 90.7 million shares, slightly below average volume, down on lower volume.

VIX up .97 at 28.59

PFE, MRK PG led the DJIA, 14 advancers, -13

NLOK, HP, AEE, DLR led the SPX, 209 advancers

DLTR, ALXN, WDAY, REGN led the NDX, 43 advancers

The two-year trend term is up.  The one-year trend is sideways.

A nine-week uptrend emerged following a higher low W pattern reversal in March. Today was a breakout continuation rally that was lost upward momentum about 45 minutes before the close after an announcement that the President will hold a press conference Friday on China.

Up:

Down: QQQ, SPY, DIA, IWM,  

Breadth weakened on Thursday as decliners led 1,725 to 1,229 on the NYSE and led 2,195 to 1,085 on the NASDAQ

The SPX MFC green line is pointed down at 92 and is short-term bullish.  Price action is a 12-week high with a late afternoon pullback after news.

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

Neutral sectors:  XLE, XLU, XLRE, XLI, XLF,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

43 of 100 NDX stocks closed higher on Thursday.

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

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6

CERN, COST, MDLZ, REGN, VRSN, XEL,

Moving Below 30 DMA = 2

CTSH, WBA,

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