Broad Rally Day 3 as Positive EPS Reactions Continue...AMZN, AAPL, CVX, XOM Gap Higher...Energy, Discretionary, Industrials Lead Sectors...

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The SPX +57.86 opened higher and closed higher following strong AMZN, AAPL, CVX and XOM positive earnings reaction.  /CL and GLD closed higher, while DXY, TLT and TNX moved lower.

GDP Q2 estimate was -0.9% vs. 0.5% consensus.

158 SPX companies report EPS next week:  Mon: GPN, J, L, / AFL, ANET, ATVI, CF, DVA, DVN, FANG, MOS, MPWR, SBAC, SPG, VNO, WMB/ Tue: AME, CAT, CMI, CNP, DD, ETN, EXPD, HSIC, IDXX, INCY, IPGP, IT, ITW, LDOS, MAR, MPC, PEG, SEE, SPGI, TAP, WAT, WEC, XYL, ZBH, ZBRA / AIZ, AMD, CTRA, CZR, EA, EXR, FMC, GILD, MCHP, MTCH, OXY, PAYC, PEAK, PRU, PXD, PYPL, SBUX, SEDG, STE, VRSK/ Wed: ABC, BWA, CDW, CRL, CVS, DISH, ETR, EXC, GNRC, MRNA, NI, PNW, PPL, REGN, TT UA, UAA, YUM / ALB, ALL, ANSS, APA, ATO, BKNG, CDAY, CLX, DXC, EBAY, FLT, FTNT, HST, IR, LNC, LUMN, MCK, MET, MGM, MRO O, QRVO/ Thu: ABMD, APD, APTV, BALL, BDX, CBRE, CEG, CI, COP, DUK, EPAM, EVRG, FIS, FRT, HII, HWM, ICE, IRM, JCI, K, LLY, NRG, OGN, PARA, PENN, PH, PKI, PWR, SRE, TECH, VMC, WRK, XRAY, ZTS / AEE, AES, AMGN, CTVA, ED, EOG, EXPE, LNT, LYV, MNST, MSI, NLOK, PSA, REG, RSG, SWKS, VRTX, VTR, WBD/ Fri: TRMB, WAB, WDC

 

First day reactions this past week:

Positive: AMZN, CVX, GWW, XOM, MTD, KLAC, VRSN, LHX, EIX, AAPL, HIG, AJG, PSX, FTI, ETSY, EQIX, RCL, ALGN, PTC, CHRW, TYL, F, URI, WST AVB, FTV, MAA, BEN, AMT, DRE, KDP, LRCX, HON, MOH, FBHS, SO, AWK, XEL, HSY, CMS, TMO, MA ORLY, MAS LIN, MLM, DTE, NOC, KIM, LH, ENPH, CMG, ROK GOOGL, HLT, ADP, AVY, APH, MSFT, TXN, BSX, AMP, TMUS, OTIS, TEL, SYK, EQR, WM, LW, IEX, GPC, BXP, BMY, ZION, HES, ESS, MDLZ, GD, MMM, GE, ADM, FISV, MCD, FFIV, MCD, PNR WHR, CDNS KO, CNC, GLW, PCAR, MSCI = 83, QTD = 133

Neutral: ES, WY, CPT, AON, CL, CHTR, IP, VICI, LKQ, AOS, WTW, TROW, ALLE, CARR, MO, HOLX, RJF, TXT, NLSN, UDR, FE, ODFL, BA, AEP, TER, NSC, IVZ, CB, V, KMB, NXPI, UHS

Negative: CHD, INTC, VFC, EW, PG, MHK, DXCM, ABBV, DLR, DLR NWL, CE CBOE, SWK, CINF, BAX, CMCSA, TFX, LUV, META, CTSH, RE, QCOM, NOW, PFE GL, VLO, MRK, SHW, GRMN, TDY, KHC, CME, HUM, ROC, JNPR, PKG, RTX, PHM, GM, UPS, ECL, NVR, MCO, BRO, NEM = 46, QTD = 81

Retail stocks continued to rally on Friday.

SPY up 5.92 at 411.99, on 87.0 million shares, above average volume, up on higher volume.

VIX down 1.00 at 21.33, lowest close in three months.

QQQ up 5.65 at 315.46

CVX, CAT, AAPL, NKE led the DJIA, 24 advancers, -1

FTI, GWW, URI, FCX, SEDG led the SPX, 389 advancers

AMZN, DDOG, TSLA, MRNA led the NDX 72 advancers

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

Up:  QQQ, SPY, DIA, IWM,

Down:   

Nine of eleven sectors were higher on Friday, led by XLE, XLY and XLI.

Energy leaders:  FTI, CVX, OXY, XOM

Consumer Discretionary leaders:  AMZN, TSLA, F, TGT

Industrials leaders:  GWW, URI, CAT, NOC

Advancers weakened slightly on Friday as advancers led 2,319 to 910 on the NYSE and led 2,707 to 1,859 on the NASDAQ.

The SPY MFC green line is pointed up at 86.9 and is short-term bullish.  SPY moved higher closed higher for the third straight day and is nearing intermediate-term resistance.

Uptrend sectors:    

Neutral sectors:   XLE, XLU, XLV, XLP, XLK, XLI, XLRE,

Down trend sectors:  XLC, XLY, XLF, XLB,

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

72 of 100 NDX stocks closed higher on Friday.

83 NDX stocks are above their 30 DMA:   SGEN, MNST, AZN, COST, DXCM, OKTA, ORLY, KDP, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, QCOM, TSLA, ADI, ROST, SWKS, TXN, ALGN, AMZN, ATVI, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, SNPS, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, INTU, LRCX, MAR, MDLZ, MELI, MRVL, NVDA, PAYX, PCAR, PYPL, EA, ILMN, NTES, HON, AEP, EXC, XEL, TMUS, BIIB, BKNG, CRWD, DOCU, GOOGL, LULU, MSFT, MTCH, OKTA, TEAM, WBA, WDAY, DLTR, FAST, FTNT, CTSH, DDOG,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

CTSH, DDOG,  

Moving Below 30 DMA = 1

INTC,

 

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