Retail Sales Better than Expected: Good News is Good News...SPX +72 points...Positive EPS Reactions Day 2...Financial, Communications Services, Health Care Lead as All Sectors Rise...

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The Retail Sales report this morning came in at 1.0% vs 0.9% consensus.  > 10.4% expectations. Futures rallied 42 points over the next hour.  The SPX opened 27 points higher, and trended higher to close at 3,863.  SPX +72.78 gapped up, formed a large white candle that closed above the HOLD in a channel bounce. 

TLT and /CL, closed higher, while DXY, GLD and TNX moved lower.

Earnings season continued this morning with positive reactions from all nine SPX companies that reported.  Also, JPM, MS and CAG rebounded with positive rallies today after moving lower after reporting earnings on Thursday. 

Six SPX companies report Monday.

17 SPX EPS reports this week:  PEP, DAL, FAST, CAG, CTAS, FRC, JPM MS, BK, BLK, C, PGR, PNC, STT, UNH, USB, WFC

First day reaction:

Positive:  C, STT, BK, WFC, UNH, USB, PGR, BLK, PNC, CTAS, FRC,

Neutral: MS, PEP,

Negative:  CAG, JPM, FAST, DAL,

Monday: GOOGL to split 20:1

SPY up 7.22 at 377.91, on 79.0 million shares, below average volume, up on lower volume.

VIX down 2.17 at 24.43

QQQ up 5.20 at 291.87

UNH, JPM, AXP, GS led the DJIA, 29 advancers, +18

C, STT, PENN, BK led the SPX, 468 advancers

NFLX, ILMN, SPLK, PYPL led the NDX, 91 advancers

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

Up: DIA, IWM, SPY, QQQ,

Down:  

All eleven sectors were higher on Friday, led by XLF, XLC and XLV.

Financial leaders:  C, STT, BK, BAC

Communication Services leaders:  NFLX, META, TWTR, DIS

Health Care leaders:  ILMN, UNH, MOH, ELV

Advancers strengthened on Friday as advancers led 2,653 to 567 on the NYSE and led 3,205 to 1,320 on the NASDAQ.

The SPY MFC green line is pointed down at 34.7 and is short-term bearish.  SPY bounced above the HOLD on Friday.

Uptrend sectors:    

Neutral sectors:  XLE, XLU, XLV,

Down trend sectors:  XLP, XLY, XLB, XLI, XLK, XLF, XLRE, 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 a little

91 of 100 NDX stocks closed higher on Friday.

52 NDX stocks are above their 30 DMA:   SGEN, MNST, BIIB, VRTX, DLTR, TMUS, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, GILD, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, LCID, QCOM, REGN, TSLA, ADI, CHTR, ROST, SWKS, TXN, ADP, AEP, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, FTNT, ISRG, LULU, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 20

ADP, AEP, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, FTNT, ISRG, LULU, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, XEL, 

Moving Below 30 DMA = 0

 

 

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