RUT Leads as SPX, NDX Form Hammer Candle in Bull Flag Pattern after Stocks Rally from Daily Lows...

 
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Earnings season continued Thursday with DOW, TSCO, T, PHM, VLO, LUV, KO, AAL, CTXS and UNP reporting EPS before the open.  After the close INTC, COF, STX and VRSN reported EPS.
 
NDX -2.46, -0.02%, opened slightly higher Thursday morning then pulled back after AAPL, AMZN and FB rolled over.  NDX closed at 11,662.  The move was led by weakness in AAPL, AMZN, FB, NVDA, PYPL and ADBE.  NDX is a bull flag price pattern.
 
SPX +17.93 closes at 3,453.  SPX is an 8-day pullback bull flag price pattern.  Stimulus talks continued to be a major topic of focus.  Markets rallied after Pelosi indicated optimism on stimulus negotiations.
 
Eight of eleven sectors were higher on Thursday, led by XLC, XLP and XLK.
 
Energy leaders: SWN, DVN, OKE MRO
Financial leaders: DFS, RF, PBCT, ZION
Healthcare leaders: ALGN, XRAY, HSIC, BIO
 
SPY up +1.88 at 344.61 on 55.3 million shares, below average volume, up on lower volume.
VIX down -.54 at 28.11
 
CVX, JPM, AXP, BA led the DJIA, 22 advancers, +13
GPS, DFS, SNA, SWN led the SPX, 369 advancers
ALGN, EXPE, MAR, BKNG led the NDX, 51 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY,
Down: QQQ,
 
Breadth strengthened on Thursday as advancers led 2,114 to 938 on the NYSE and led 2,227 to 1,300 on the NASDAQ
 
The SPY MFC green line is turned up at 69.7 and is bullish.  Price action is an 8-day bull flag pullback.
 
Uptrend sectors:  XLI, XLU, XLY, XLB, XLP, XLK, XLV, XLC,
Neutral sectors:  XLRE, XLF,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is up a little.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up a little
 
51 of 100 NDX stocks closed higher on Thursday.
 
71 NDX stocks are above their 30 DMA:   AVGO, ZM, ALXN, SGEN, WDAY, CDW, CPRT, CTAS, CTSH, IDXX, INTC, NVDA, PAYX, QCOM, SBUX, SNPS, ADP, COST, LRCX, SWKS, TXN, XLNX, KLAC, BIDU, NXPI, XEL, SIRI, AMAT, CERN, EXC, MCHP, MELI, MXIM, PCAR, SPLK, ADI, ALGN, ANSS, BMRN, CDNS, CSX, ILMN, INTU, ISRG, JD, MU, PEP, PYPL, WDC, ADSK, AMZN, DLTR, ULTA, VRSK, AAPL, MSFT, GOOGL, KHC, PDD, WBA, FB, ATVI, VRSN, BKNG, DXCM, EXPE, INCY, MRNA, MAR, MNST, TCOM,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 8
BKNG, DXCM, EXPE, INCY, MRNA, MAR, MNST, TCOM,
 
 
Moving Below 30 DMA = 7
ADBE, ASML, CHKP, DOCU, EBAY, ORLY, TTWO,
 
 
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