SPX Pauses after 122-point Gain on Wednesday...Breadth Narrows on Thursday...Communication Services, Health Care, Technology Lead Sectors...

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The SPX -3.54 opened higher, traded in a range until 10 am ET when the ISM Manufacturing report was lower than expected and the SPX sold off more than 40 points 35 minutes.  The selling exhausted and the SPX slowly recovered from its intraday low to close slightly lower for the day.  Thursday turned out to be a fairly classic pause or consolidation day after the SPX gained 122-points on Wednesday.

Friday:  Jobs Report BMO

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

SPY down .30 at 407.38, on 73.3 million shares, below average volume, down on lower volume.

VIX down .74 at 19.84

QQQ up .36 at 293.72

NKE, HD, DIS, WMT led the DJIA, 13 advancers, -15

ETSY, SNPS, TFX, CTLT led the SPX, 257 advancers

OKTA, SPLK, ZS, TEAM led the NDX, 59 advancers

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

Up:  QQQ,

Down:  SPY, IWM, DIA,

Five of eleven sectors were higher on Thursday, led by XLC, XLV and XLK.

Advancers weakened on Thursday as advancers led 1,745 to 1,393 on the NYSE and led 2,436 to 2,129 on the NASDAQ.

The SPY MFC green line turned down at 91.6 and is counter-trend defensive.  SPY opened higher and closed slightly lower.

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

Neutral sectors:  XLK,

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

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

59 of 100 NDX stocks closed higher on Thursday

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

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

DDOG, FTNT, SPLK, ZS,

Moving Below 30 DMA = 2

COST, MU,

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