SPX Rises on Friday as Breadth Softens and Remains Positive...Energy, Communication and Discretionary Leads Sectors...Volatility Continues to Fall...

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The SPX +36.56 opened higher, traded in a range for the first two hours and then trended up for a higher close, forming a smaller white candle.  Institutional money rotated back many stocks like AAPL, MSFT, AMZN, GOOGL, TSLA, NVDA, META and many other large cap stocks with above average volume on Thursday and Friday.  Sectors XLF, XLB, XLI and XLV shifted from 3-month sideway trends to up trends.

Control of the Senate and the House is still undetermined as of Friday’s close.

QQQ and IWM broke through short-term resistance and SPY and DIA were bounce continuation after breakouts on Thursday.

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

SPY up 3.82 at 398.51, on 93.8 million shares, average volume, up on lower volume.

VIX down 1.01 at 22.52, volatility dropped to its lowest close since Aug. 25.

QQQ up 5.21 at 287.96

WBA, NKE, DOW, DIS led the DJIA, 18 advancers, -11

PARA, GCI, ALGN, VFC led the SPX, 315 advancers

DOCU, ALGN, OKTA, DDOG led the NDX 75 advancers

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

Up:  QQQ, SPY, IWM, DIA,

Down:

Six of eleven sectors were higher on Friday, led by XLE, XLC and XLY.

Energy leaders:  OXY, PSX, HES, DVN

Communication Services leaders:  PARA, GCI, WBD, DISH

Consumer Discretionary leaders:  VFC, RL, TPR, WYNN

Advancers weakened on Friday as advancers led 2,060 to 1,093 on the NYSE and led 3,097 to 1,567 on the NASDAQ.

The SPY MFC green line is pointed up at 82.9 and is short-term bullish.  SPY opened slightly higher and closed about 1% higher.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV,

Neutral sectors:  XLP,

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

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

75 of 100 NDX stocks closed higher on Friday

88 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ILMN, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, DLTR, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, MU, VRTX, XEL, AEP, EBAY, MELI, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, EXC, AAPL, ADSK, AMD, ATVI, CDNS, CPRT, FISV, FTNT, INTU, JD, MRVL, MSFT, MTCH, NFLX, PANW, PYPL, QCOM, SNPS, SPLK, VRSK, VRSN, WDAY, ZM, ABNB, ALGN, DDOG, DOCU, GOOGL, OKTA, SGEN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

ABNB, ALGN, DDOG, DOCU, GOOGL, OKTA, SGEN,

Moving Below 30 DMA = 2

KDP, REGN,

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