Friday, August 21, 2020

SPX & NDX New All-time Highs as AAPL, NVDA, TSLA Continue to Surge...IWM Small Caps Lag...


NDX +78.12, +0.68%, closes at a new all-time closing high as AAPL, NVDA and TSLA close higher.

SPX +11.65, +0.35%, closes at 3,397 on a breakout to a new all-time closing high.

Seven of eleven sectors were higher on Friday, led by XLK, XLY and XLI.

Technology leaders:  AAPL, NVDA, MCHP, QCOM
Consumer Discretionary leaders:  ULTA, DHI, LEN, WYNN
Industrials leaders:  DE, FBHS, JBHT, CARR

SPY up +1.20 at 339.48 on 55.1 million shares, average volume, up on higher volume.
VIX down -0.18 at 22.54

AAPL, NKE, HD led the DJIA, 16 advancers, +5
EL, DE, DHI, LEN led the SPX, 219 advancers
NVDA, ULTA MCHP, EXPE led the NDX, 41 advancers

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

Up: DIA, QQQ, SPY,
Down: IWM,

Breadth weakened slightly on Friday as decliners led 1,956 to 1,007 on the NYSE and led 2,286 to 1,117 on the NASDAQ

The SPY MFC green line turned up at 96.6, is short-term bullish.  Price action is a BO and a new all-time closing high.


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

41 of 100 NDX stocks closed higher on Friday.

63 NDX stocks are above their 30 DMA:  AMZN, CDNS, IDXX, NVDA, SWKS, AAPL, FAST, MELI, PYPL, TTWO,  VRSK, CHKP, COST, MNST, CHTR, CMCSA, CTSH, PCAR, AMD, CTAS, ISRG, LULU, ORLY, XEL, CPRT, CSX, TCOM, QCOM. SBUX, KLAC, AVGO, FB, MSFT, NXPI, TMUS, DLTR, TXN, BKNG, ULTA, MAR, PAYX, CERN, EXPE, ADBE, ANSS, EA, INTU, MSFT, PEP, TSLA, FOXA, ADSK, ATVI, DOCU, EBAY, GOOGL, NTES, SNPS, WDAY, ZM, MCHP, VRSN, SPLK,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
SPLK,

Moving Below 30 DMA = 6
ADI, BIDU, DXCM, KHC, MXIM, NFLX,


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