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Futures drifted lower overnight and stock indexes opened lower on weekly
expiration Friday. Index ETFs DIA,
SPY and QQQ traded in a range and closed slightly higher on Friday. IWM closed lower.
SPX closed above 4,400 and NDX closed above 15,300.
SPY up .73 at 443.91, on 62.0 million shares, below average volume, up on lower volume.
VIX down .88 at 17.75
QQQ up .35, +0.09% at 373.33
CRM, V, AXP, JPM led the DJIA, 16 advancers, -11
EXPE, CCL, NCLH, RCL led the SPX, 275 advancers.
MTCH, COST, TSLA, FOXA led the NDX, 43 advancers.
The two-year trend term is up. The one-year trend is up.
Up: SPY, QQQ, DIA,
Down: IWM,
SPY =
channel bounce continuation
DIA = channel
bounce continuation
QQQ = channel
bounce continuation
IWM = channel
bounce pause
Seven
of eleven
sectors were higher on Friday, led by XLC,
XLE and XLF.
Communication Services leaders: MTCH, FOXA, FB, EA
Energy leaders: COG,
PXD, COP, APA
Financial leaders: CME,
FITB, SCHW, RJF
Advancers declined on Friday as decliners led 1,930 to 1,338 on the NYSE and
led 2,562 to 1,862 on the NASDAQ.
The SPY MFC green line
turned up at 38.3 and is bullish. SPY is a bounce continuation.
Uptrend sectors: XLY, XLK, XLC, XLRE, XLF, XLP, XLU, XLV,
Neutral sectors: XLI, XLB,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The
ten-day trend is down.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
43 of 100 NDX stocks
closed higher on Friday.
46 NDX stocks are above their 30 DMA: INTU, DXCM, TEAM,
CDNS, VRSK, ALGN, ASML, MCHP, NFLX, TSLA, WDAY, AVGO, KLAC, BKNG, OKTA, MRNA, MTCH, ADI, LULU, AMAT, TXN, MAR, ORLY, FOXA, SGEN, BIDU, TCOM, AMZN, CPRT, CRWD, CTAS, LRCX,
MELI, MRVL, MSFT, MU, NVDA, NXPI, XLNX, CTSH, GOOGL, IDXX, INTC, SPLK, VRSN, COST,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
COST,
Moving Below 30 DMA = 6
EXC, GILD,
ISRG, JD, PDD, SNPS,
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