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Futures opened about 28 points higher and the SPX trended up on Friday. The SPX recovered all of Wednesday’s selloff and about half of Tuesday move down.
DJI +360.68, +1.06%, closed at 34,382. GS, BA, CRM and MSFT were the largest point gainers on Friday.
SPX +61.35, +1.49%, closed at 4,173.
TSLA +3.16%, rally to six-week support.
SPY = channel bounce.
All eleven sectors were higher on Friday, led by XLE, XLK and XLC.
Energy leaders: SWN, MRO, DVN, HES
Technology leaders: STX, WDC, PAYC, ENPH
SPY up 6.30 at 416.58, on 82.2 million shares, above average volume, up on lower volume.
VIX down 4.32 at 18.81
GS, CRM, BA, CVX led the DJIA, 25 advancers, -4
The two-year trend term is up. The one-year trend is up.
Up: IWM, QQQ, SPY, DIA,
Advancers strengthened on Friday as advancers led 2,264 to 1,083 on the NYSE and led 3,218 to 2,101 on the NASDAQ.
The SPY MFC green line is pointed down at 65.4 and is defensive. SPY is a channel bounce.
Uptrend sectors: XLB, XLF, XLI, XLP, XLV, XLE, XLRE, XLC, XLY, XLU, XLK,
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: Up
87 of 100 NDX stocks closed higher on Friday.
37 NDX stocks are above their 30 DMA: ORLY, AEP, XEL, FAST, COST, CERN, VRSN, ALXN, CHTR, MDLZ, CMCSA, KHC, PEP, BIIB, GILD, TMUS, AMGN, REGN, SGEN, ADP, CSCO, CSX, CTAS, PAYX, PCAR, WBA, ASML, CHKP, CPRT, EXC, FB, IDXX, INTU, ISRG, MRNA, ROST, VRTX, WDC,
NDX Stocks to Watch on Monday:
Moving Below 30 DMA = 2
FOXA, INCY,
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1 comment:
Thank you, Dave! It will be interesting to see if this bounce continues.
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