©
2020
NDX -149.23.09, -1.27%, pulled back for a second day and
formed a long-tailed hammer and bull flag price pattern. The move lower was led by weakness in DOCU,
PYPL ADBE, NVDA, ZM, GOOGL, FB and AMZN.
SPX -28.10, -0.81%, closes
at 3,426, forms a bull flag price pattern.
Three
of eleven
sectors were higher on Friday, led by XLF,
XLI and XLB.
Financial leaders: UNM, LNC COF, SYF
Industrials leaders: FDX, CARR, UAL, TDG
Basic Materials leaders: FCX, CE, LYB, WRK
SPY down -2.82 at 342.57 on 139.1 million shares, above average volume, down on lower
volume.
VIX down -2.85 at 30.75
JPM, GS, BA, AXP led the DJIA, 11 advancers, +9
UNM, LNC, COTY, COF led the SPX, 193 advancers
AVGO, TSLA, CDW, TCOM led the NDX, 25 advancers
The two-year trend term is up. The one-year trend is up.
Up:
Down: DIA, IWM, SPY, QQQ,
Breadth strengthened on Friday
as decliners led 1,790 to 1,221 on the NYSE and led 2,141 to 1,279 on
the NASDAQ
The SPY MFC green line is
pointed down at 83 and is counter
trend defensive. Price action is a is
a 2-day bull flag pullback with a hammer candle pattern on Friday.
Uptrend sectors: XLI, XLP, XLB, XLY, XLK, XLC, XLV,
Neutral sectors: XLU, XLRE, XLF, XLE,
Down trend sectors:
The 6-month intermediate trend is up. The
ten-day trend is sideways.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
25 of 100 NDX stocks
closed higher on Friday.
53 NDX stocks are above their 30 DMA: AMZN, NVDA, AAPL, VRSK,
COST, MNST, CHTR, CMCSA, CTAS, ISRG, LULU, ORLY, CPRT, CSX, TCOM, QCOM. SBUX,
AVGO, FB, NXPI, TMUS, TXN, BKNG, ULTA, MAR, PAYX, EXPE, ADBE, ANSS, INTU, MSFT,
PEP, TSLA, FOXA, GOOGL, NTES, SNPS, WDAY, ZM, MCHP, ADI, KHC, ROST, AMGN, ALXN,
DOCU, NFLX, CERN, INTC, ALGN, XLNX, XEL, CDW, WDC,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
CDW, WDC,
Moving Below 30 DMA = 9
ADP, ADSK, AMD, ASML, CTSH,
FISV, LBTYA, PYPL, SPLK,
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