SPX Opens Lower, Rallies from Intra-day Support and Closes Lower...Jobs Report for May Friday before the Open...

 
© 2021
 
Friday morning:
7 am ET, Jerome Powell, Fed Chairman, will speak on a panel discussion at the Green Swan 2021 virtual conference sponsored by the Bank for International Settlements (BIS).  Topic is Central banks and climate change.
 
8:30 am ET:  May Employment Situation, Jobs Report
 
 
SPX opened lower and pulled back to its 30 DMA and bounced forming a hammer-like doji.    Semiconductor stocks SMH opened lower, pulled back in a BO test and formed a 2-day bull flag setup. 
 
DJI -23.34, -0.07%, closed at 34,577.  BA, CRM, HD and MSFT were the largest point decliners on Thursday.
NDX -146.11, -1.07%, closed at 13,529.
SPX -15.27, -0.36%, closed at 4,192.                 
 
TSLA -5.33%, bounce down continuation.
 
SPY = BO test pullback, re-breakout, bull flag setup.
DIA = BO test pullback, re-breakout, bull flag setup.
QQQ = pullback, bull flag setup.
IWM = BO test pullback, re-breakout, 1-day bull flag setup.
 
Five of eleven sectors were higher on Thursday, led by XLP, XLU and XLV.
 
Consumer Staples leaders: PG, WBA, SJM, KR
Utilities leaders: NRG, ES, PNW, EXC
Health Care leaders: CERN, MRK, ABT, LLY
 
SPY down 1.56 at 418.77, on 58.1 million shares, below average volume, down on higher volume. 
VIX up .56 at 18.04
 
DOW, MRK, PG, WBA led the DJIA, 16 advancers, -4
F, GM, FTI, NRG led the SPX, 242 advancers.
CERN, DLTR, MRNA, DXCM led the NDX, 31 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: DIA, SPY, IWM, QQQ,
 
Advancers weakened on Thursday as decliners led 1,848 to 1,440 on the NYSE and led 2,489 to 1,788 on the NASDAQ.
 
The SPY MFC green line is flat at 83 and is bullish with a potential shift to counter-trend defensive.  SPY did a BO test pullback, and formed a bull flag setup. 
 
 
Uptrend sectors:  XLRE, XLF, XLE, XLB, XLI, XLC, XLP, XLK, XLY, XLV, XLU,
Neutral sectors: 
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: Down a little
 
31 of 100 NDX stocks closed higher on Thursday.
 
50 NDX stocks are above their 30 DMA:  COST, CERN, ALXN, MDLZ, KHC, PEP, TMUS, SGEN, CSCO, PAYX, INTU, WDC, TCOM, NTES, ATVI, FB, MXIM, ADI, ADP, GOOGL, IDXX, ILMN, MRVL, NXPI, ZM, NVDA, PTON, AMAT, ASML, AVGO, CMCSA, EA, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, SIRI, AMD, EBAY, EXC, REGN, XLNX, JD, MAR, PDD, DXCM, MNST, WBA,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
 
Moving Below 30 DMA = 9
CHTR, CPRT, CTAS, INTC, KLAC, MU, QCOM, SPLK, TEAM,
                                                                                                                   
                                                                                     
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