DJI, SPX, RUT, NDX Rally Day Two...

 
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DJI, SPX, RUT and NDX, closed higher on strong buying volume for the second day.  SPX, NDX and RUT closed higher than their respective closes on Thursday, February 17.  This two-day rally was larger than the prior three-day selloff.  Once again showing that those who say, “the market always falls faster than it goes up,” aren’t paying attention to periodic asymmetries to the upside.  Breadth increased again on Friday.

SQ +26.14%, ETSY +16.21% gap higher Friday on strong earnings reports after the close on Thursday. 
 
 
SPY up 9.45 at 437.75, on 121.8 million shares, below average volume, up on lower volume.
VIX down 2.73 at 27.59
QQQ up 5.28 at 345.77
 
 
JNJ, MMM, UNH, PG led the DJIA, 30 advancers, +19
ETSY, DISH, MOS, NUE led the SPX, 485 advancers.
MELI, NTES, PYPL, PANW led the NDX, 89 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA, IWM, SPY, QQQ,
Down:  
 
All eleven sectors were higher on Friday, led by XLB, XLP and XLF. 
 
Basic Materials leaders: MOS, NUE, FCX, MLM
Consumer Staples leaders:  TAP, MNST, LW, KR
Financial leaders: SBNY, SIVB, TFC, PBCT, ZION
 
Advancers strengthened on Friday as advancers led 2,768 to 895 on the NYSE and led 3,426 to 1,295 on the NASDAQ.
 
The SPY MFC green line is turned up at 23.2 and is bullish.  SPY closed above the HOLD and confirmed its Jan 24 low. 
 
 
Uptrend sectors:  XLE, XLP,
Neutral sectors: XLF, XLU, XLB, XLV, XLRE, XLK,
Down trend sectors: XLY, XLI, XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Up
 
89 of 100 NDX stocks closed higher on Friday.
 
32 NDX stocks are above their 30 DMA:  ATVI, EXC, TMUS, DDOG, MAR, DLTR, KHC, AZN, ALGN, AVGO, CDNS, COST, CRWD, FTNT, ISRG, MU, PANW, SNPS, SPLK, ADI, AEP, AMD, AMGN, AMZN, CHTR, CTSH, IDXX, KDP, MELI, NTES, ODFL, REGN,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 13
ADI, AEP, AMD, AMGN, AMZN, CHTR, CTSH, IDXX, KDP, MELI, NTES, ODFL, REGN,
 
Moving Below 30 DMA = 1
ZS,
 
 
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