SPX Closes Lower, Forms Dragonfly Doji...Consumer Staples, Utilities, Health Care Lead Sectors...TSLA Rallies, ALB, Lithium stocks Fall on Heavy Selling...Washington's Birthday 3-day Holiday Weekend...

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Markets are closed Monday, February 20, national holiday in observance of Washington’s Birthday.  Have a great 3-day weekend!

-SPX -11.32 opened lower formed a dragonfly doji following an afternoon rally.

-VIX closed lower.

-Fed speak from Barkin and Bowman on Friday.

-ALB -27.61, -9.67% as lithium stocks SQM, LTHM, fall on heavy selling…

-Volume was 5.75 million shares, 3 x average, 5% of outstanding shares…

 

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

Mega caps TSLA, META, rose and NVDA, MSFT, GOOGL, AMZN, AAPL fell.

iBB:  In our model account we maintain a net long position.

SPY down 1.02 at 407.26, on 89.2 million shares, above average volume, down on higher volume.

VIX down .15 at 20.02

QQQ down 2.14 at 301.16

MRK, AMGN, UNH, PG led the DJIA, 17 advancers, +15

DE, BIO, OGN, GEHC led the SPX, 257 advancers

TSLA, LCID, BIIB, AEP led the NDX, 37 advancers.

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

Up:   DIA, IWM,

Down:  SPY, QQQ,

Six of eleven sectors were higher on Friday, led by XLP, XLU and XLV.

The SPY MFC green line turned down at 81.7 and is counter-trend defensive.  SPY opened lower and closed lower.

Uptrend sectors:   XLY, XLK, XLC, XLRE, XLF, XLB, XLI, XLE, XLP, XLV, XLU,

Neutral sectors:

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

37 of 100 NDX stocks closed higher on Friday.

62 NDX stock are above their 30 DMA:   AVGO, ALGN, BKNG, META, SGEN, EBAY, IXX, WBD, CHTR, AMAT, CTSH, LRCX, ODFL, ANSS, CDNS, ADSK, ISRG, NXPI, ABNB, AMD, FISV, LCID, MAR, NVDA, TEAM, CPRT, AAPL, COST, CPRT, FAST, MCHP, MRVL, MSFT, PANW, WDAY, ZS, ADI, FTNT, GFS, PCAR, TSLA, MNST, DDOG, OKTA, ZM, CRWD, RIVN, SBUX, LULU, ORLY, AZN, DXCM, KDP, PEP, ATVI, ILMN, LULU, TMUS, CSCO, EXC, CTAS, MDLZ, REGN, WBA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 4

CTAS, MDLZ, REGN, WBA,

Moving Below 30 DMA = 10

ADBE, AMZN, BKR, CMCSA, CSGP, MELI, MU, NFLX, PDD, QCOM,

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