©
2020
Earnings season continued after the close Thursday with AMZN, FB, GOOGL,
AAPL, TWTR, ILMN, SBUX, MGM, VRTX and FTNT reporting. AAPL, AMZN and FB had negative reactions,
while GOOGL had a positive reaction. Seventy-two
SPX companies reported earnings on Thursday.
Companies reporting
before the open on Friday include CBOE, CHTR, CVX, HON, MO, PSX, UAA, WY
and XOM.
NDX +207.99, +1.87%, opened
lower and closed higher. The move was led by strength in
AAPL, GOOGL, AMZN, FB and MSFT.
NDX is a countertrend bounce above support.
SPX +38.08, +1.19%, closes
at 3,310, a bounce at the 78.6 Fib retracement level.
Nine
of eleven
sectors were higher on Thursday, led by XLE,
XLC and XLB.
Energy leaders: APA,
MPC, BKR, OKE
Communication Services leaders: TWTR, FB, NFLX, GOOG
Materials leaders: MLM, VMC, LYB, DD
SPY up +3.32 at 329.98 on 90.5 million shares, above average volume, up
on lower volume.
VIX down -1.56 at 37.59
AAPL, CVX, DIS, DOW led the DJIA, 18 advancers, +17
CBRE, TWTR, TPR, MLM led the SPX, 350 advancers
MRNA, KLAC, NXPI, FB led the NDX, 74 advancers
The two-year trend term is up. The one-year trend is up.
Up: QQQ, IWM, SPY, DIA,
Down:
Breadth strengthened on Thursday as advancers led 2,020 to 1,032 on the NYSE and led 2,312 to 1,167 on the NASDAQ
The SPY MFC green line
is pointed down at 48.5 and is bearish. Price action is a break of multi-week support
and
holding at the 78.6% Fib retracement level.
Uptrend sectors: XLU, XLI, XLY, XLB, XLP, XLK, XLC,
XLV,
Neutral sectors: XLRE, XLF,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The
ten-day trend is down.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
74 of 100 NDX stocks
closed higher on Thursday.
34 NDX stocks are above their 30 DMA: IDXX, QCOM, SNPS, ADP, COST, XLNX, BIDU, SIRI,
EXC, MELI, SPLK, ALGN, JD, GOOGL, PDD, FB, AAPL, ADSK, AMZN, CDNS, CPRT, DLTR,
EXPE, ILMN, KLAC, LRCX, MRNA, MU, MXIM, NXPI, PAYX, SBUX, TXN, XEL,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 18
AAPL, ADSK, AMZN, CDNS,
CPRT, DLTR, EXPE, ILMN, KLAC, LRCX, MRNA, MU, MXIM, NXPI, PAYX, SBUX, TXN, XEL,
Moving Below 30 DMA = 4
EBAY, SGEN, WDC, ZM,
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