SPX Moves Lower, Forms Doji in 2-day Bull Flag BO Test Pullback...

© 2020

NDX -97.46, -0.92% and SPX -20.03, -0.62%.  NDX fell to a similar low and is a channel bounce setup.  SPX opened lower and closed higher than its open.  SPX is a 2-day bull flag setup. 

INTC -9.81, -16.24% beat expectations but said it was delaying next gen chip due to a defect.  AMD +9.83, +16.50% rose as their next gen is already on the market.  One company's misfortune is another company's fortune.  

AXP, VZ, SLB, HON, and NEE reported EPS Friday morning before the open.  SLB and VZ rose, while AXP, HON and NEE fell.

Three of eleven sectors were higher on Friday, led by XLY, XLP and XLC.

Consumer Discretionary leaders:  DRI, PHM, NVR, MHK

Consumer Staples leaders:  PM, MO, STZ, KO

Communication Services leaders:  GCI, TTWO, CMCSA, VZ

SPY down 2.08 at 320.88 on 73.7 million shares, below average volume, down on lower volume.

VIX down .24 at 25.84

VZ, CAT, MCD led the DJIA, 8 advancers, +1

GCI, FE, DRI, PHM led the SPX, 112 advancers

AMD, TTWO, CMCSA, FOXA led the NDX, 22 advancers

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

Up:

Down: SPY, DIA, QQQ, IWM,

Breadth weakened on Friday as decliners led 1,927 to 1,019 on the NYSE and led 2,464 to 899 on the NASDAQ

The SPX MFC green line is pointed down at 90.9 and is counter-trend defensive.  Price action is 2-day bull flag setup.

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

Neutral sectors:  XLU, XLRE, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

22 of 100 NDX stock closed higher on Friday.

59 NDX stocks are above their 30 DMA:  AMZN, CDNS, IDXX, NVDA, SWKS, AAPL, EBAY, FAST, MELI, PYPL, SPLK, ALGN, TSLA, BMRN, NTES, MXIM, TXN, LRCX, EA, TTWO, ATVI, ILMN, ANSS, NFLX, AMGN, DOCU, DXCM, PEP, VRSK, XLNX, CHKP, COST, GOOGL, MNST, CHTR, BKNG, CMCSA, CTSH, KHC, PCAR, DLTR, AMD, CTAS, ISRG, LULU, ORLY, XEL, CERN, CPRT, CSX, EXC, TCOM, CSCO, MRNA, FISV, SBUX, SIRI, FOXA, VRSN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

FOXA, VRSN,

Moving Below 30 DMA = 16

ADSK, AMAT, ASML, BIIB, CDW, EXPE, INTC, KLAC, LBTYA, MU, NTAP, NXPI, RGEN, SGEN, SNPS, WDC,

Add Comments here: