SPY, DIA Hit MACD Target as Rally Continues on Friday...A Strong Week One of EPS Reactions...

 
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DIA, SPY and QQQ opened on a gap up, trended up and closed higher on Friday.  IWM closed lower.  SPY, DIA, QQQ and IWM closed higher for the week.  SPY and DIA both hit their MACD bullish divergence bounce target.
 
 
Earnings Reactions Q3 beginning Oct 12:
Up: GS, JBHT, PLD, SCHW, TFC, BAC, MS, UNH, WBA, BLK, FRC, FAST
Neutral: C, DPZ, PGR
Down: PNC, USB, DAL, JPM
Week 1 = 19,
 
63% of the SPX stocks had positive earnings reaction, a positive first week to Q3 earnings season.
    
 
SPX closed at 4,471 and NDX closed at 15,146.
 
SPY up 3.37 at 445.87, on 66.2 million shares, below average volume, up on lower volume.  
VIX down .56 at 16.30
QQQ up 2.31, +0.63% at 368.94
 
 
GS, V, AXP, CAT led the DJIA, 23 advancers, -5
JBHT, WFC, HAL, FLT led the SPX, 323 advancers.
AMZN, MAR, TSLA, MELI led the NDX, 57 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, IWM,
Down:
 
SPY = mid-channel breakout
DIA = mid-channel breakout
QQQ = MACD divergence bounce continuation
IWM = channel bounce down
 
Eight of eleven sectors were higher on Friday, led by XLY, XLF and XLI.
 
Consumer Discretionary leaders: AMZN, MAR, TSLA, PENN
Financial leaders: WFC, GS, SCHW, BAC
Industrials leaders: JBHT, GNRC, CAT, ODFL
 
Advancers weakened on Friday as decliners led 1,691 to 1,619 on the NYSE and led 2,579 to 1,949 on the NASDAQ.
 
The SPY MFC green line is pointed up at 43.3 and is bullish.  SPY is a mid-channel breakout. 
 
 
Uptrend sectors:  XLE, XLF, XLY, XLK, XLRE, XLC, XLV,
Neutral sectors:  XLP, XLU, XLI, XLB,
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: Up
 
57 of 100 NDX stocks closed higher on Friday.
 
51 NDX stocks are above their 30 DMA:  NFLX, TSLA, BKNG, MTCH, MAR, FOXA, SGEN, TCOM, KHC, DLTR, PAYX, ADP, CSX, ORLY, TEAM, CTAS, MRVL, NTES, PEP, VRSK, EBAY, KDP, XLNX, BIDU, JD, SPLK, CHKP, AMD, CRWD, MSFT, WDAY, ADSK, ANSS, AVGO, CPRT, CTSH, EXC, GOOGL, INTC, MDLZ, NVDA, OKTA, WBA, XEL, ADI, AMZN, FISV, HON, TXN, VRSN,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 6
ADI, AMZN, FISV, HON, TXN, VRSN,  
 
Moving Below 30 DMA = 1
DXCM,  
 
 
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