SPX, NDX Fall for Second Day on Friday...Earnings Season Day 4...Utilities, Health Care, Staples Lead Sectors...

 
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Earnings season continues on Monday with PLD, TSCO reporting BMO and IBM, JBHT, PPG, ZION reporting AMC.
 
Earnings reactions after four days:
Positive:  PEP, WFC, TFC, UNH, USB, STT,
Neutral/Negative:  FRC, JPM, GS, CAG, FAST, BAC, BLK, C, DAL, PNC, MS, BK, PGR, KSU, SCHW,
Up from Initial Reaction:  CTAS,
 
On July 21, MRNA will replace ALXN in the SP 500 and HON will replace ALXN in the NDX.  ALXN is being acquired by AZN.
 
 
Semiconductor stocks, SMH -2.09%, move below short-term support, led by weakness in NVDA, AMAT and LRCX.
 
DJI -299.17, -0.86%, closed at 34,687.  GS, BA, DIS and JPM were the largest point decliners on Friday.
NDX -113.31, -0.77%, closed at 14,681.  A pullback for a second day in large cap tech stocks NVDA, AAPL, AMZN, MSFT, FB and TSLA weighed on the NDX.
SPX -32.87, -0.75%, closed at 4,327.  SPX trades in a range on expiration Friday until a selloff during the last two hours of trading.
 
TSLA -0.98%, a channel bounce down.
 
SPY = Two-day bull flag.
DIA = BO setup near all-time high.
QQQ = Three-day bull flag.
IWM = Channel bounce down at three-month support.
 
Four of eleven sectors were higher on Friday, led by XLU, XLV and XLP.
 
Utilities leaders: PNW, EVRG, ES, NEE
Health Care leaders: TFX, ABMD, HOLX, DXCM
Consumer Staples leaders: CLX, KMB, KR, CPB,
 
 
SPY down 3.41 at 431.34, on 75.8 million shares, above average volume, down on higher volume.  
VIX up 1.44 at 18.45
 
PG, AMGN, TRV, CRM led the DJIA, 6 advancers, -10
TFX, STT, CLX, ABMD led the SPX, 159 advancers.
MRNA, CTAS, DOCU, SGEN led the NDX, 32 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: SPY, QQQ, DIA, IWM,
 
Advancers weakened on Friday as decliners led 2,325 to 998 on the NYSE and led 3,048 to 1,336 on the NASDAQ.
 
The SPY MFC green line turned down (fourth time in nine days) at 88 and is counter-trend defensive.  SPY a two-day bull flag pattern. 
 
 
Uptrend sectors:  XLRE, XLV, XLP, XLK, XLC, XLY, XLI, XLF,
Neutral sectors:  XLU, XLB, XLE,
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: Down
 
32 of 100 NDX stocks closed higher on Friday.
 
58 NDX stocks are above their 30 DMA:  TMUS, SGEN, PAYX, INTU, GOOGL, IDXX, ILMN, SNPS, MRNA, PYPL, EBAY, REGN, DXCM, ADBE, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, MELI, MTCH, NFLX, TSLA, VRSN, ADSK, AMAT, CDW, COST, ORLY, SWKS, BIDU, ROST, VRSK, ADP, AMGN, GILD, CMCSA, NTES, PEP, AEP, CSCO, SBUX, FAST, CHKP, FISV, JD, MDLZ, NTES, CSCO, MNST, XEL, CHTR, EXC, VRTX, CTAS, EA,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
CTAS, EA,
 
Moving Below 30 DMA = 8
AMD, ASML, AVGO, CERN, FB, MRVL, OKTA, ROST, 
 
 
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