SPX Opens, Closes Lower as Concerns over Central Bank Rate Hikes Return...All Sectors Lower...TSLA Closes Lower...

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-SPX -33.56, opened lower, traded in a range, closed below Thursday’s low.

-Recession concerns reported after multi Central Banks raised rates.

-SPX closed below Thursday’s low and is now a five-day bull flag setup.

-VIX up .53.

-Breadth weakened on Friday.

-TSLA -8.01, -3.03%, closes lower.

-Regional banks continue to fall: KRE -.58, -1.44%, ZION -.37, -1.37%.

-There continues to be numerous bull flag setups:

-SPY, QQQ, ISRG, MSFT, AMAT, FTNT, COST and many more.

 

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

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

SPY down 3.30 at 433.21, on 92.0 million shares, above average volume, down on higher volume.

VIX up .53 at 13.44

QQQ down 3.63 at 362.54,

INTC, MRK, V, MMM led the DJIA, 4 advancers, -13

KMX, GNRC, CE, DGX led the SPX, 94 advancers

SIRI, ADBE, META, CEG led the NDX, 14 advancers.

The two-year trend term is sideways.  The one-year trend is sideways.

Up: 

Down:  DIA, SPY, QQQ, IWM,

All eleven sectors were lower on Friday, smallest decliners XLC, XLV and XLF.

The SPY MFC green line is pointed down at 78.5 and is defensive.  SPY opened lower and closed lower after central banks continued to hike rates and weak PMI data.

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

Neutral sectors:  XLU, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

14 of 100 NDX stocks closed higher on Friday.

61 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX, META, VRSK, FTNT, ZS, NFLX, AMAT, KLAC, AVGO, MRVL, TSLA, WDAY, CSCO, ADBE, CTAS, PANW, CDNS, NXPI, ANSS, COST, PDD, ATVI, INTC, QCOM, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, WBA, ADI, FAST, INTU, SGEN, LULU, REGN, ROST, VRTX, GILD, ODFL, GEHC, AMGN, IDXX, PYPL, ON, ORLY, DLTR, MNST, PEP,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 18

ADP, ADSK, ASML, AZN, BKNG, CMCSA, DDOG, EXC, GFS, GOOGL, JD, KDP, MAR,

PAYX, SNPS, TEAM, TXN, ZM,

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