Selloff Resumes on Friday as All Sectors Fall...AAPL, FB, TSLA Decline...Earning's Continue Next Week...

 
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Stocks experienced a broad decline on Friday reversing Thursday’s rally and continuing Wednesday’s FOMC selloff.  Earning’s season continues next week with reports from AMZN, GOOL, PYPL, QCOM, KLAC, EBAY, ATVI, GILD, TMUS, PTON and many other SPX companies.
 
NDX -237.94, -1.81%, and SPX -73.14, -1.93%, closed at 3,714, closing  below both Wednesday’s low and its January 15 support
 
AAPL, FB and TSLA continued to fall on Friday after reporting earnings after the close on Wednesday.  TSLA fell another -5.02%.
 
 
All eleven sectors were lower on Friday, led by least weak XLU, XLV and XLRE. 
 
Utilities leaders: DUK, NRG, ED, XEL
Healthcare leaders: BIIB, HOLX, DGX, LH
Real Estate leaders: IRM, CCI, EXR, EQIX
 
SPY down 7.56 at 370.07 on 126.7 million shares, above average volume, down on higher volume.
VIX up 2.88 at 33.09
 
MCD, CRM, IBM, CAT led the DJIA, 1 advancer, -20
GCI, SWKS HOLX, DGX led the SPX, 61 advancers.
MRNA, WDC, SWKS, BIIB led the NDX, 16 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: 
Down: IWM, SPY, DIA, QQQ,
 
Advancers weakened on Friday as decliners led 2,312 to 865 on the NYSE and led 2,776 to 1,145 on the NASDAQ.
 
The SPY MFC green line is pointed down at 68 and is defensive, there was a break of Wednesday’s low.  Price action is a short-term break of support.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Neutral sectors:  XLRE,
Down trend sectors:
 
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
 
16 of 100 NDX stocks closed higher on Friday.
 
33 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, TSLA, BIDU, ILMN, CERN, SWKS, NTES, MRVL, AMGN, INTC, PDD, KLAC, EBAY, GILD, WBA, BIIB, FOXA, PCAR, CTAS, EA, GOOGL, MSFT, MRNA, SIRI, WDC, DXCM, MELI, MU, NFLX, QCOM, ATVI,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
ATVI,
 
Moving Below 30 DMA = 15
AAPL, ALXN, AMZN, CDW, CHKP, CHTR, CMCSA, CSCO, INCY, JD, KHC, REGN, SNPS, TXN, ZM,
 
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Stocks Bounce Back following Wednesday's Selloff...AAPL, FB, TSLA Lower after Earnings...

 
© 2021
 
Stocks experienced a broad rally Thursday rebounding from Wednesday’s FOMC selloff. 
 
NDX +88.88, +0.68%, and SPX +36.61, +0.98%, closed at 3,787, bounces up from January 15 support
 
AAPL, FB and TSLA fell on Thursday after reporting earnings after the close on Wednesday.  TSLA fell -3.32%, its negative earnings reaction.
 
Companies reporting BMO Friday include LLY, CVX, HON, CHTR, CAT, CL, CHD and SYF.
 
All eleven sectors were higher on Thursday, led by XLF, XLB and XLI. 
 
Financial leaders: CFG, DFS, RJF, SYF
Basic Materials leaders: CTVA, DD, AVY, IFF
Industrials leaders: AAL, AOS, URI, TDG
 
SPY up 3.22 at 377.63 on 94.1 million shares, above average volume, up on lower volume.
VIX down 7.00 at 30.21
 
DIS, INTC, AXP, NKE led the DJIA, 21 advancers, +17
LB, AAL, ENPH, ABMD led the SPX, 359 advancers.
BKNG, MTCH, MELI, CMCSA led the NDX, 74 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA, SPY, QQQ,
Down: IWM,
 
Advancers strengthened on Thursday as advancers led 2,214 to 971 on the NYSE and led 2,200 to 1,717 on the NASDAQ.
 
The SPY MFC green line is pointed down at 79.4 and is defensive, watch for a potential break of Wednesday’s low.  Price action is a channel bounce, bullish harami, inverted hammer.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Neutral sectors:  XLRE,
Down trend sectors:
 
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.
 
47 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, TSLA, BIDU, ILMN, CERN, SWKS, NTES, MRVL, AMGN, INTC, JD, PDD, KLAC, EBAY, GILD, WBA, BIIB, FOXA, PCAR, CDW, CTAS, INCY, REGN, EA, GOOGL, AAPL, AMZN, MSFT, MRNA, CHKP, CSCO, KHC, SIRI, WDC, ALXN, CHTR, CMCSA, DXCM, MELI, MU, NFLX, QCOM, SNPS, TXN, ZM,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 11
ALXN, CHTR, CMCSA, DXCM, MELI, MU, NFLX, QCOM, SNPS, TXN, ZM,
 
Moving Below 30 DMA = 2
FB, LRCX,
 
 
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SPX -98 Points after BA EPS and FOMC Announcement...FB, TSLA, AAPL Weak After-hours Earnings Reactions...

 
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Futures opened lower after a weak earnings report BMO from BA. The SPX traded down 40+ points in trading range until the Fed announcement and collapsed, closing down 98 points. 
 
NDX -377.54, -2.80%, and SPX -98.85, -2.57%, closed at 3,750, falls to January 15 support
 
After the close FB, TSLA and AAPL reported positive earnings but traded lower.
 
TSLA fell -2.14%, on Wednesday.  After reporting earnings TSLA fell -42.77, -5.07%.
 
Companies reporting BMO Thursday include MA, CMCSA, DHR, MCD, SHW, SWK, LUV, TSCO, PHM, AAL and WRK.
 
All eleven sectors were lower on Wednesday, led by least weak XLRE, XLE and XLP. 
 
Real Estate leaders: IRM, DLR, SLG, VNO
Energy leaders: SWN, FTI, COG, HFC
Consumer Staples leaders: CPB, KR, CLX, HRL
 
SPY down 9.38 at 374.71 on 123.3 million shares, above average volume, down on higher volume.
VIX up 14.19 at 37.21
 
MMM, WBA, CSCO, MSFT led the DJIA, 4 advancers, -10
SWN, IRM, STX, GCI led the SPX, 77 advancers.
SIRI, ILMN, MRNA, CERN led the NDX, 12 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: IWM, DIA, SPY, QQQ,
 
Advancers weakened on Wednesday as decliners led 2,678 to 542 on the NYSE and led 3,335 to 618 on the NASDAQ.
 
The SPY MFC green line turned down at 85.7 and is counter-trend defensive, prepare to become defensive.  Price action is a break of short-term support to its January 15 low.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Neutral sectors:  XLRE,
Down trend sectors:
 
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
 
12 of 100 NDX stocks closed higher on Wednesday.
 
38 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, TSLA, BIDU, ILMN, CERN, SWKS, NTES, MRVL, AMGN, INTC, JD, PDD, KLAC, EBAY, GILD, LRCX, WBA, BIIB, FOXA, PCAR, CDW, CTAS, INCY, REGN, EA, GOOGL, AAPL, AMZN, MSFT, FB, MRNA, CHKP, CSCO, KHC, SIRI, WDC,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 29
ADI, AEP, ALXN, AMD, ANSS, ATVI, CDNS, CHTR, EXC, INTU, MCHP, MDLZ, MELI, MU, MXIM, NFLX, NVDA, NXPI, PYPL, QCOM, SBUX, SNPS, SPLK, TMUS, TXN, VRTX, WDAY, XEL, XLNX,
 
 
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QQQ New All-time Closing High...MSFT Rises in after-hours on a Positive EPS Reaction...AAPL, FB, TSLA Report After the Close on Wednesday...

 
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QQQ made a new all-time closing high on Tuesday.  MSFT, FB, AMZN, GOOGL, AAPL and TSLA helped lift QQQ on Tuesday.  More EPS reports this week including AAPL, FB, and TSLA report after the close on Wednesday.
 
MSFT rose +8.59, +3.70%, in after-hours trading on a positive EPS reaction. 
 
The FOMC started their two-day meeting today with its interest rate announcement on Wednesday at 2 pm ET and press conference at 2:30 pm ET.
 
Companies reporting BMO Wednesday include T, ABT, BA BX, ADP GD, GLW TXT and EAT.
 
NDX +6.90, +0.05%, closed slightly higher on Tuesday, a new all-time closing high.
 
SPX -5.74, -0.15%, closed at 3,849, in a range.
 
TSLA rose +0.26%, closed at a new all-time high.  EPS report tomorrow, Wednesday, after market close.
 
Four of eleven sectors were higher on Tuesday, led by XLC, XLRE and XLP. 
 
Communication Services leaders: LUMN, FOXA, VIAC, DISCA
Real Estate leaders: IRM, SLG, PLD, DLR
Consumer Staples leaders: KR, SJM, CPB, TAP
 
SPY down .60 at 383.79 on 42.6 million shares, below average volume, down on lower volume.
VIX down .17 at 23.02
 
IBM, MMM, WBA, JNJ led the DJIA, 14 advancers, -1
LUMN, VIAC, KR, NLSN led the SPX, 246 advancers.
FOXA, SIRI, MRNA, EBAY led the NDX, 39 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ,
Down: DIA, SPY, IWM
 
Advancers weakened on Tuesday as decliners led 1,861 to 1,315 on the NYSE and led 2,435 to 1,447 on the NASDAQ.
 
The SPY MFC green line pointed up at 94.5 and is bullish.  Price action is a modest four-day horizontal bull flag.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Neutral sectors:  XLRE,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
 
39 of 100 NDX stocks closed higher on Tuesday.
 
67 NDX stocks are above their 30 DMA:   TXN, ADI, AMAT, MU, MXIM, ASML, AVGO, TSLA, PYPL, ANSS, ATVI, BIDU, CDNS, ILMN, SNPS, CERN, ALXN, SWKS, NTES, MRVL, AMGN, INTC, JD, PDD, KLAC, NXPI, EBAY, GILD, LRCX, WBA, BIIB, FOXA, MCHP, QCOM, EXC, PCAR, CDW, CTAS, INCY, MELI, REGN, SPLK, EA, GOOGL, INTU, VRTX, AAPL, AMZN, MSFT, NFLX, NVDA, CHTR, FB, MRNA, AEP, AMD, CHKP, WDAY, CSCO, XEL, XLNX, KHC, MDLZ, SBUX, SIRI, TMUS, WDC,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 6
KHC, MDLZ, SBUX, SIRI, TMUS, WDC,
 
Moving Below 30 DMA = 7
ALGN, DOCU, DXCM, IDXX, OKTA, PTON, ZM,
 
 
 
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QQQ, SPY New High as IWM, DIA Pause...AAPL, FB, MSFT, TSLA Lead a Big Week of EPS Reports...

 

© 2021
 
QQQ and SPY made new all-time closing highs while IWM made a new intraday high before closing 21 cents below Friday’s record high close.  AAPL, TSLA, MSFT, and FB lift QQQ on Monday.  More EPS reports this week including AAPL, FB, MSFT and TSLA.

Companies reporting BMO Tuesday include JNJ, AXP, MMM, GE, RTX, LMT FCX, DHI and ALK.
 
NDX +116.89, +0.87%, gap up on Monday to a new all-time closing high.
 
SPX +13.89, +0.36%, closed at 3,855, moved above Friday high to a new high close.
 
TSLA rose +4.03%, did a bull flag bounce and closed at a new all-time high.  Oppenheimer raises price target to $1,036.
 
Seven of eleven sectors were higher on Monday, led by XLU, XLP and XLRE. 
 
Utilities leaders: SRE, ES, AEE, DUK
Consumer Staples leaders: CLX, SJM, HRL, GIS
Real Estate leaders: IRM, VNO, KIM, SPG
 
SPY up 1.51 at 384.39 on 70.2 million shares, above average volume, up on higher volume.
VIX up 1.28 at 23.19
 
AAPL, PG, VZ, MSFT led the DJIA, 15 advancers, +4
IRM, CLX, VIAC, SJM led the SPX, 246 advancers.
MRNA, NTES, FOXA, PDD, TSLA led the NDX, 60 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY,
Down: DIA, IWM
 
Advancers weakened on Monday as decliners led 1,888 to 1,319 on the NYSE and led 2,034 to 1,822 on the NASDAQ.
 
The SPY MFC green line pointed up at 93.3 and is bullish.  Price action is a modest two-day bull flag.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Neutral sectors:  XLRE,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
 
60 of 100 NDX stocks closed higher on Monday.
 
68 NDX stocks are above their 30 DMA:   TXN, ADI, AMAT, MU, MXIM, ASML, AVGO, TSLA, PYPL, ANSS, ATVI, BIDU, CDNS, ILMN, SNPS, CERN, IDXX, ALXN, SWKS, NTES, MRVL, PTON, AMGN, INTC, JD, PDD, KLAC, NXPI, EBAY, GILD, LRCX, WBA, BIIB, FOXA, MCHP, QCOM, EXC, PCAR, CDW, CTAS, DOCU, INCY, MELI, REGN, SPLK, EA, ZM, GOOGL, INTU, OKTA, VRTX, AAPL, AMZN, DXCM, MSFT, NFLX, NVDA, CHTR, FB, MRNA, AEP, AMD, CHKP, WDAY, ALGN, CSCO, XEL, XLNX,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 4
ALGN, CSCO, XEL, XLNX,
 
Moving Below 30 DMA = 4
CTSH, SBUX, TCOM, TEAM,
 
 
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