QQQ Leads Broad Rally on Expiration Friday...Double Bottom Breakout...Discretionary, Technology, Real Estate Lead Sectors...

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The SPX +100.40 opened higher, traded higher during the day, formed a large white candle, and completed a double bottom breakout on expiration Friday.  This was the second largest expiration Friday gain during the past 14 months, eclipsed only by the 105-point gain on January 28.  SPY, QQQ, IWM, DIA each have broken out of a double bottom reversal pattern.

PDD +6.37, +15.19%, ZS +17.87, +12.57%, ULTA +47.12, +12.47%, ADSK +19.75, +10.31%, rose on Friday on positive earnings reaction.

SPY up 9.95 at 415.26, on 84.7 million shares, below average volume, up on similar volume.

VIX down 1.78 at 25.72

QQQ up 9.77 at 309.10

AAPL, BA, DIS, DOW led the DJIA, 30 advancers, +3

ULTA, MRNA, TSLA, PKI led the SPX, 480 advancers

PDD, ZS, ADSK, DDOG led the NDX, 97 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  QQQ, IWM, SPY, DIA,

Down:

All eleven sectors were higher on Friday, led by XLY, XLK and XLRE.

Consumer Discretionary leaders:  ULTA, TSLA, CCL, NCLH

Technology leaders:  ADSK, PYPL, AVGO, PTC

Real Estate leaders: IRM, PLD, WY, DRE

Advancers strengthened on Friday as advancers led 2,870 to 465 on the NYSE and led 3,792 led to 855 on the NASDAQ.

The SPY MFC green line is pointed up at 30.4 and is short-term bullish.  SPY opened higher and continued it channel support bounce broke out of a double bottom reversal pattern.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

97 of 100 NDX stocks closed higher on Friday.

63 NDX stocks are above their 30 DMA:   MNST, GILD, EA, NTES, NXPI, XEL, ADI, SNPS, AMGN, EXC, MCHP, REGN, SIRI, TMUS, VRTX, AEP, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM, ADBE, ADSK, AMAT, ATVI, BIDU, BIIB, BKNG, CDNS, CPRT, DLTR, FISV, FTNT, LCID, MU, PDD, TXN, ADP, ANSS, ASML, AVGO, CTAS, DOCU, FAST, HON, INTC, INTU, JD, MAR, MRNA, MRVL, MSFT, MTCH, NVDA, ORLY, PCAR, PEP, PYPL, QCOM, SBUX, WBA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 24

ADP, ANSS, ASML, AVGO, CTAS, DOCU, FAST, HON, INTC, INTU, JD, MAR, MRNA, MRVL, MSFT, MTCH, NVDA, ORLY, PCAR, PEP, PYPL, QCOM, SBUX, WBA,

Moving Below 30 DMA = 0

 

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