SPX Opened and Closed Higher after Strong Jobs Report and Fed Rate Comments from Barkin, Collins, Evans...Materials, Financial, Technology Lead All Sectors Higher...

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The SPX +50.66 opened higher, traded in a volatile range, closed higher and formed a hammer candle.  Friday’s Jobs Report reported 261K new jobs vs. 210K expected.  Fed comments from Barkin, Collins and Evans reiterated that future rate increases may moderate from the current 75 bps.

Friday was a trend continuation bounce in DIA, IWM and SPY.

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

Saturday: BRK/B

From Oct 12 through Nov 4 more than 420 SP500 companies reported and there were more Day one EPS reactions gaining 1%+ than there were neutral or negative reactions.  In that time, the SPX rose 5.41%.

First day reaction: Q3 Oct 12 through Nov 4…

Positive:

GCI, ETSY, RCL, APD, APA, BALL EQIX, PTC, COP, JCI, PWR, MRO, IR, ATV, TRGP, ICE, ALB, BKNG, CDAY, EBAY, ABC, PNW, SRE, IRM, ANSS, CI, MTCH, CRL, CVS, MCK EA, MDLZ, ABMD, IDXX, HOLX, IT, FOXA, ANET, MPC, HSIC, SPG, TECH, NXPI, INCY PFE, XYL, PSX, WAT, AFTL, SBAC, WMB, LDOS, AME, ETN, DXCM, GILD, INTC, VRSN, VRTX, AAPL, PFG, TMUS, GWW, AJG, COF, NEE, VICI, CHTR, XOM, HIG, AON, CL, CVX,  NOW, CAT, RE, RJF, ALLE, ORLY, MCD, HON, LKQ, LUV, SPGI, TXT, CARR, TFX, MAA, CMCSA, F, MRK, CMS, XEL, FBHS, UHS, ROL, ENPH, CSGP, AMP, HES, V, TDY, IEX, TER, NSC, JNPR, ROP, BMY IQV, CB, BSX, CNC, MSCI, NVR, SYF, ARE, MCO, DFS, PHM, GM, SHW, PNR, ZION, KMB, ITW, KO, ADM, HAL, SLB, HBAN, CSX, LRCX, T, DGX, LVS, IBM, FCX, NUE, NFLX, ISRG, BKR, UAL, TRV, ELV, LMT, SBNY, GS, BAC, BK, USB, WFC, JPM, DAL, DPZ, FAST, PGR, WBA, BLK, PEP = 159 SQ, SHOP, PINS, FSLR,

Neutral:

PH, O, ALL, ES, REGN, MET, MRNA, HUM, TT, ETR, AIG, FMC, CDW, PEAK, YUM, PRU, CZR, WED, WAB, CNP, XRAY, EMN, WY, CPRT, SWN, CHD, KIM, BWA, AMT, NOC, WTW, KLAC, URI, TWTR, EQT, DTE, MA, AOS, AEP, DLR, LIN, UDR, IP, SO, APH, ODFL, GRMN, GD, KHC, HLT, OTIS, MMM, IVZ, PKG, PCAR, UPS, BIIB, GE, IPG, WHR, DOW, NVR, GPC, PG, JBHT, CFG, STT, JNJ, C, UNH = 70

Negative:

LNC, FIS, LUMN, CTSH, FTNT, ZTS, MGM, K, EPAM, QCOM, HST, MAR, HII, CMI, EXC, FLT, QRVO, DVN, PARA, EXR, TRMB, CHRW, EL, PSA, TEL, BR, ROK, GNRC, PAYC, VRSK, AMCR, CLX, ZBH, MLM, DISH, AIZ, EIS, AMD, OKE, VMC, CTLT, ZBRA, ECL, SEE, SYK, CINF, BEN, TAP, SYY, LLY, AWK, VNO, NEM, ON, GPN, PEG, PCG, HWM, L, DVA, EW, BIO, AMZN, RMD, LYB, NWL, ABBV, PXD, LHX, MHK, RSG, META, ALGN, WST, INVH, BAX, LH, MOH, FTI, SWK, CBRE, ESS, FISV, TYL, VFC, WDC, TROW, GL, MO, KDP, BRO, GOOG, GOOGL, BA, STX, AVY, MSFT, FFIV, CMG, MAS, EQR, BXP, FE, WM, TXN, TMO, CME, FTV, ADP, CDNS, WRB, VLO, GLW, RTX, SIVB, RHI, HCA, VZ, AXP RF, UNP, TSLA, FITB, EFX, DHR, PPG, SNA, KMI, POOL, ALK, KEY, AL, TSCO, CCI, DOV, PM, MMC, MTB, NTRS, CMA, ABT, PLD, MTKX, NDAQ, OMC, TFC, HAS, FRC, SCHW, MS, PNC = 150 SNAP, WOLF

SPY up 5.34 at 376.35, on 103.5 million shares, average volume, up on lower volume.

VIX down .75 at 24.55, lowest close since Sep 12 and volatility continues elevated.

QQQ up 4.19 at 264.68

NKE, DOW, CAT, AXP led the DJIA, 27 advancers, +16

FCX, EL, NEM, TPR led the SPX, 402 advancers

JD, BIDU, PSS, SBUX led the NDX 74 advancers

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

Up:  QQQ, SPY, IWM, DIA,

Down:

All eleven sectors were higher on Friday, led by XLB, XLF and XLK.

Basic Materials leaders:  FCX, NEM, LYB, DOW

Financial leaders:  IVZ, ALL, BEN, PFG

Technology leaders:  MCHP, ANET, MSI, SWKS

Advancers strengthened on Friday as advancers led 2,249 to 914 on the NYSE and led 2,670 to 1,910 on the NASDAQ.

The SPY MFC green line is pointed down at 72.4 and is defensive.  SPY opened higher and closed higher.

Uptrend sectors:  XLE,

Neutral sectors:  XLF, XLI, XLV,

Down trend sectors:  XLB, XLP, XLY, XLK, XLU, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

74 of 100 NDX stocks closed higher on Friday

60 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ILMN, NFLX, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, DLTR, MRNA, AMAT, CHTR, COST, CPRT, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, REGN, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, MU, VRTX, XEL, AEP, EBAY, LCID, MELI,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 14

ADI, AMD, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN,

Moving Below 30 DMA = 1

ZM,

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