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SPY, DIA and QQQ gapped higher, pulled back filled the gap, made a
lower low, then reversed and closed higher on Friday. Each formed a bullish harami candle pattern. IWM also gapped higher, filled the
gap, made a lower low, reversed and then engulfed Thursday’s candle closing
higher than Thursdays open.
SPX closed at 4,357 and NDX closed at 14,791.
SPY up 5.10 at 434.24, on 129.2 million shares, above average volume, up on lower volume.
VIX down 1.99 at 21.15
QQQ up 2.22, +0.62% at 360.18
MRK, DIS, AXP, V led the DJIA, 26 advancers, +24
PENN, LYV, UAL, DAL led the SPX, 395 advancers.
MAR, BKNG, MSFT, PAYX led the NDX, 65 advancers.
The two-year trend term is up. The one-year trend is up.
Up: IWM, DIA, SPY, QQQ,
Down:
SPY =
MACD divergence bounce at short-term support, bullish harami
DIA = MACD
divergence bounce at short-term support, bullish harami
QQQ = MACD
divergence bounce at short-term support, bullish harami / hammer
IWM =
channel bounce up at mid-channel
Ten of
eleven
sectors were higher, on Friday, led by XLE,
XLC and XLF.
Energy leaders: OXY, PXD, EOG, FANG
Communication Services leaders: LYV, DIS, DISH, GCI
Financial leaders: BRO, WLTW, DFS, KEY
Advancers strengthened on Friday as advancers led 2,341 to 1,002 on the NYSE and led 2,787 to 1,714 on the NASDAQ.
The SPY MFC green line
is pointed down at 24.7 and is short-term bearish. SPY is a MACD
divergence setup with a bullish harami candle at support.
Uptrend sectors: XLF, XLK, XLV, XLY,
Neutral sectors: XLE, XLC, XLP, XLU, XLRE,
XLI, XLB,
Down trend sectors:
The 6-month intermediate trend is up. The
ten-day trend is down.
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Sideways
65 of 100 NDX stocks
closed higher on Friday.
17 NDX stocks are above their 30 DMA: TEAM, NFLX, TSLA, BKNG,
MTCH, TXN, MAR, ORLY, FOXA, SGEN,
TCOM, KHC, DLTR, DXCM, EA, PAYX, INTC,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
INTC,
Moving Below 30 DMA = 0
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