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2020
After the close Thursday AMZN, FB, GOOGL, AAPL and TWTR, reported earnings. AAPL, AMZN, FB and TWTR gapped down Friday morning and closed lower than they opened. The broad market dropped further on Friday led by the selling pressure from these stocks.
NDX -297.80, -2.62%, opened
and closed lower. The move was led by weakness from
the negative earnings reaction on AMZN, AAPL and FB. NDX is near its 3-month support level
in a 600+ point sideways channel.
SPX -40.15, -1.21%, closes at 3,269, a hammer formed at the 78.6% Fib retracement level and is a channel bounce setup.
Two of eleven sectors were higher on Friday, led by XLE, XLF and XLV.
Energy leaders: DVN, HFC, HAL, NOV
SPY down -3.44 at 326.54 on 120.4 million shares, above average volume, down on higher volume.
VIX up +.43 at 38.02
IBM, WBA, CAT, CVX led the DJIA, 13 advancers, -5
The two-year trend term is up. The one-year trend is up.
Up:
Breadth weakened on Friday as decliners led 1,864 to 1,186 on the NYSE and led 2,601 to 942 on the NASDAQ
The SPY MFC green line is pointed down at 37.2 and is bearish. Price action is a hammer at the 78.6% Fib retracement level and is a channel bounce setup.
Uptrend sectors: XLU, XLI, XLY, XLB, XLP, XLK, XLC, XLV,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The ten-day trend is down.
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Down
21 of 100 NDX stocks closed higher on Friday.
18 NDX stocks are above their 30 DMA: IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, MELI, ALGN, JD, GOOGL, PDD, CDNS, EXPE, NXPI, PAYX, CSX, CTSH,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
Moving Below 30 DMA = 18
AAPL, ADSK, AMZN, COST, CPRT, DLTR, FB, ILMN, KLAC, LRCX, MRNA, MU, MXIM, SBUX, SNPS, SPLK, TXN, XEL,
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1 comment:
Thank You Dave
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