SPX Higher Open, Lower Close as Bull Flag Bounce Pauses Again...

© 2020

NDX -3.41, -0.03%, and SPX -17.60, -0.56%.  SPX opened higher and sold off after AAPL announced they would be re-closing several stores due to rising virus infections.  

The SPX, DJI and NDX bull flag bounce continuation failed to follow through for the fourth straight day.  BMRN, INCY, REGN, SGEN, VRTX, MELI, ADBE, FB, AMZN, ZM, ATVI, EA and TMUS made new closing highs on Friday.

One of eleven sectors was higher on Friday, led by XLV, XLC and XLB                            

SPY down 1.77 at 308.64 on, after declaring a 1.366 dividend on Friday, on 135.5 million shares, above average volume, down on higher volume.

VIX up 2.18, at 35.12

WBA, MRK WMT led the DJIA, 8 advancers, -4

FOSL, VRTX, CERN, STX led the SPX, 145 advancers

BMRN, INCY, REGN, SGEN led the NDX, 44 advancers

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

Up:

Down: QQQ, IWM, SPY, DIA,

Breadth weakened on Friday as decliners led 1,931 to 1,026 on the NYSE and led 1,830 to 1,543 on the NASDAQ

The SPX MFC green line is pointed up at 74.2 and is short-term bullish.  Price action is a 5-day bull flag, bounce and a 3-day pause closing above the HOLD.

Uptrend sectors:  XLY, XLK, XLV, XLC, XLB, XLI, XLF, XLRE, XLE,

Neutral sectors:  XLU, XLP,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

44 of 100 NDX stock closed higher on Friday.

79 NDX stocks are above their 30 DMA:  AMZN, CDNS, KHC, AVGO, IDXX, ISRG, KLAC, LULU, MSFT, NVDA, ORLY, SNPS, SWKS, FB, QCOM, AAPL, ADSK, EBAY, FAST, GOOGL, MCHP, MELI, MNST, PYPL, SPLK, WDAY, ADBE, ALGN, TSLA, BMRN, VRSK, ZM, AMAT, JD, NTES, TMUS, CTAS, EXPE, LRCX, AVGO, BKNG, CDW, DLTR, MXIM, PCAR, TXN, XLNX, PAYX, AAL, ALXN, MU, SIRI, UAL, REGN, XEL, NXPI, EA, TTWO, ADP, ATVI, CHTR, CTSH, ILMN, LBTYA, AMD, ANSS, DXCM, MDLZ, CERN, CHKP, INTU, NFLX, SGEN, WBA, AMGN, INCY, GILD, WDC,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

WDC,

Moving Below 30 DMA = 9

CMCSA, CPRT, CSCO, CSX, EXC, FOXA, MAR, PEP, TCOM,

Add Comments here: