Stocks Rally as Fed Chair Powell Speaks...IWM Leads as QQQ, SPY Make All-time Closing Highs...Energy, Communication Services, Financials Lead Sectors...

 
 
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QQQ and SPY made new all-time closing highs.  SPX closed above 4,500 for the first time and NDX closed above 15,400 on Friday as markets reversed Thursday’s pullback after the bomb attack and deaths at the Kabul airport in Afghanistan.
 
StockS started to trend up strong as FOMC Chairman Powell began his address at the Jackson Hole virtual Conference, Friday morning at 10 am ET.
 
WDAY +22.52, +9.13%, rose Friday on a positive earnings reaction.
 
 
SPY up 3.99 at 450.25, on 77.2 million shares, above average volume, up on higher volume.  
VIX down 2.45 at 16.39
QQQ up 3.62, +0.97% at 376.04
 
 
DOW, BA, DIS, AXP led the DJIA, 23 advancers, +19
SWN, OXY, COG, APA led the SPX, 435 advancers.
WDAY, LRCX, AMD, XLNX led the NDX, 82 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ, SPY, DIA,
Down:
 
SPY = Bounce to all-time high
DIA = Bounce continuation
QQQ = Bounce to all-time high
IWM = Mid-channel BO
 
Nine of eleven sectors were higher on Friday, led by XLE, XLC and XLF.
 
Energy leaders: SWN, OXY, COG, APA
Communication Services leaders: GCI, LYV, VIAC, FB
Financial leader: ZION, SCHW, IVZ, LNC
 
 
Advancers strengthened on Friday as advancers led 2,733 to 566 on the NYSE and led 3,421 to 986 on the NASDAQ.
 
The SPY MFC green line is pointed up at 95.8 and is bullish.  SPY is an all-time closing high. 
 
 
Uptrend sectors:  XLK, XLV, XLC, XLU, XLP, XLRE, XLF, XLY,
Neutral sectors:  XLI, XLB,
Down trend sectors: XLE,
 
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: Up
 
82 of 100 NDX stocks closed higher on Friday.
 
67 NDX stocks are above their 30 DMA:  INTU, GOOGL, ILMN, SNPS, MRNA, REGN, DXCM, ADBE, MSFT, TEAM, ISRG, CDNS, QCOM, SPLK, MELI, CDW, COST, VRSK, AMD, ALGN, CSCO, EXC, ASML, CMCSA, AEP, CTSH, XLNX, CHTR, SGEN, MCHP, CSX, FISV, MNST, GILD, WBA, BIIB, EBAY, CHKP, FAST, LULU, MRVL, NFLX, NVDA, AAPL, FB, FOXA, NXPI, TSLA, AVGO, EA, KLAC, TCOM, BKNG, HON, JD, OKTA, PDD, CRWD, AMAT, ANSS, CPRT, CTAS, DOCU, INTC, KDP, PAYX, TXN, VRTX,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 10
AMAT, ANSS, CPRT, CTAS, DOCU, INTC, KDP, PAYX, TXN, VRTX,
 
Moving Below 30 DMA = 11
ADI,
 
 
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