Broad Indexes Move Lower after AMZN Revenues Miss Thursday after the Close...TEAM, DXCM Lead NDX...Materials, Real Estate Lead Sectors...

  
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IWM, DIA, SPY, QQQ each pulled back on Friday. 
 
On Friday, AMZN closed -272.33, -7.56% at 3,327.59 on a negative earnings reaction, as EPS beat but revenues missed. 
 
PINS fell -13.14, -18.24% as EPS and revenues beat but average monthly users dropped in Q2.  SNAP, FB and GOOGL closed slightly lower on Friday.
 
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Earnings season week 3 is complete and more than 300 S&P companies reported during the first 14 days.  As you can see less than half of the companies had more than a +1% reaction after their earnings report.  Many of the stocks with a neutral to negative reaction have subsequentially reversed to the upside and likely many more may do so since the broad market is still in an uptrend.
 
 
Earnings reactions through Friday:
Positive (1%+):  PEP, WFC, TFC, UNH, USB, STT, IBM, JBHT, ZION, DOV, HAL, HCA, KEY, SYF, CMG, UAL, CMA, IPG, KO, NDAQ, NTRS, CSX, DGX, DHR, DOW, DPZ, MMC, NUE, UNP, SNAP, CE, RHI, TWTR, AXP, NEE, ROP, SLB, HAS, FFIV, ARE, UHS, PKG, GE, BSX, MSCI, PNR, RTX, DTE, FISV, AMD, GOOGL, ENPH, AVY, BXP, PFE, TDY, BMY, GRMN, BA, HES, TEL, QCOM, ALGN, CTSH, HOLX, AFL, CINF, F, IR, AVB, HIG, MAA, RE, XLNX, AOS, CARR, CBRE, HBAN, HLT, HSY, KIM, LH, LKQ, MA, MO, SPGI, WAB, WST, YUM, TEAM, DXCM, KLAC, BIO, DLR, FTV, RSG, CBOE, CERN, CHTR, GSS, LIN, PG, X,
 
Neutral/Negative:  FRC, JPM, GS, CAG, BAC, BLK, C, DAL, PNC, PGR, SCHW, PLD, PPG, OMC, TRV, ANTM, MTB, NFLX, VZ, CCI, DFS, FTI, GL, KMI, LVS, TXN, AAL, ALLE, FITB, GPC, LUV, SNA, T, COF, FE, INTC, SIVB, VRSN, WRB, HON, KMB, RF, LMT, OTIS, CNC, SWK, UPS, MMM, IVZ, IQV, WM, PCAR, ECL, LW, CDNS, AAPL, MSFT, SBUX, V, CB, CHRW, EQR, EXR, IEX, JNPR, MDLZ, MXIM, NLOK, NOV, PFG, SYK, TER, HUM, ADP, CME, GD, MCD, MCO, ODFL, ROL, APH, GNRC, TMO, NSC, FB, PYPL, LRCX, PTC, EQIX, FBHS, DRE, NOW, ORLY, RJF, TYL, UDR, URI, AMT, BAX, CMCSA, CMS, ICE, IP, MAS, MLM, MRK, NLSN, SO, TAP, TFX, TXT, VLO, XEL, PINS, AMZN, GILD, SWKS TMUS, VRTX, AJG, EIX, ES, ESS, EW, FTNT, MHK, MTD, SWN, WELL, ABBV, AON, CAT, CHD, CL, COG, CVX, DISH, IDXX, ITW, JCI, IDXX, ITW, JCI, VFC, WY, XOM,
 
Up from Initial Reaction:  CTAS, MS, BK, ISRG, NVR, KSU, TSCO, PM, JNJ, MKTX, STX, WHR, ABT, AEP, DHI, FCX, POOL, FAST, BKR, EFX, ALK, NEM, PKI, PHM, ADM, ROK, SHW, GLW, TSLA, AMP,
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SPY down 2.14 at 438.51, on 68.9 million shares, above average volume, down on higher volume.  
VIX up .54 at 18.24
QQQ down 1.91, -0.52% at 364.57
 
 
PG, CSCO, HON, NKE led the DJIA, 12 advancers, -12
GE, FTV, BIO, EQIX led the SPX, 210 advancers.
TEAM, DXCM, KLAC, SGEN led the NDX, 57 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: DIA, SPY, QQQ, IWM,
 
SPY = BO setup.
DIA = BO setup.
QQQ = Bull flag.
IWM = Channel bounce pause.
 
Four of eleven sectors were higher on Friday, led by XLB, XLRE and XLP.
 
Basic Materials leaders: YUM, LEN, TSLA, DHI, PHM
Real Estate leaders: FCX, ALB, NUE, MOS
Consumer Staples leaders: HIG, CINF, AFL, SPGI,
 
 
Advancers weakened on Friday as decliners led 1,924 to 1,407 on the NYSE and led 2,705 to 1,684 on the NASDAQ.
 
The SPY MFC green line turned down at 93.5 and is counter-trend defensive.  SPY is a BO test. 
 
 
Uptrend sectors:  XLV, XLY, XLK, XLRE, XLP, XLC,
Neutral sectors:  XLU, XLI, XLF, XLB, XLE,
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
 
57 of 100 NDX stocks closed higher on Friday.
 
68 NDX stocks are above their 30 DMA:  PAYX, INTU, GOOGL, IDXX, ILMN, SNPS, MRNA, REGN, DXCM, ADBE, DOCU, LULU, MSFT, TEAM, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, MELI, ADSK, CDW, COST, ORLY, VRSK, ADP, GILD, PEP, SBUX, FAST, CHKP, MNST, CTAS, AMD, OKTA, ALGN, CSCO, EXC, MRVL, HON, ASML, AVGO, CMCSA, FB, FISV, AEP, CTSH, EA, VRTX, XEL, AAL, MAR, AMAT, EA, KLAC, XLNX, CSX, NXPI, ROST, TSLA, TXN, ZM, CERN, CHTR, DLTR, LRCX, SGEN,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 5
CERN, CHTR, DLTR, LRCX, SGEN,
 
Moving Below 30 DMA = 8
AMZN, BKNG, EBAY, MDLZ, MTCH, NVDA, SIRI, SWKS,
 
 
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