SPX Rally After President's Press Conference on China...

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NDX +138.81, +1.47%, and SPX +14.58, +0.48%, opened lower and was in trading range most of the day, and gained upward momentum about 60 minutes before the close after the President’s press conference on China. The NDX is a horizontal breakout setup.  The SPX is a breakout continuation setup.

COST and CRM close lower after reporting EPS after the close on Thursday.

Seven of eleven sectors were higher on Friday, led by XLK, XLV and XLU

SPY up 1.35 at 304.32 on 119.2 million shares, above average volume, up on higher volume.

VIX down 1.08 at 27.51, lowest close in three months on Friday.

CSCO, VZ, WBA led the DJIA, 17 advancers, -13

NLOK, DPZ, MKTX, CTXS led the SPX, 240 advancers

ZM, JD, REGN, LULU led the NDX, 84 advancers

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

A twelve-week uptrend emerged following a higher low W pattern reversal in March.

Up: QQQ, SPY,

Down: DIA, IWM, 

Breadth strengthened on Friday as decliners led 1,527 to 1,422 on the NYSE and advancers led 1,711 to 1,586 on the NASDAQ

The SPX MFC green line is pointed up at 92 and is short-term bullish.  Price action is a 12-week high with a late afternoon rally after press conference on China.

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

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

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

84 of 100 NDX stocks closed higher on Friday.

90 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, 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, CTXS, WBA,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

CTXS, WBA,

Moving Below 30 DMA = 1

NXPI,  

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