SPX Closes Slightly Lower After PPI Miss...Energy, Health Care Lead Sectors...

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The SPX -4.78 continued to drift lower on Friday.  The SPX opened 18 points lower, after the PPI report BMO, and reversed during the first hour of trading and closed only slightly lower.

Core PPI M/M 0.3% vs 0.2% est., Y/Y 2.4% vs.2.3% est. miss

Headline PPI M/M 0.3% vs 0.2% est., Y/Y 0.8% vs.0.7% est. miss

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

SPY down .26 at 445.65, on 68.6 million shares, just below average volume, close slightly lower on lower volume.

VIX down 1.01 at 14.84

QQQ down 2.35 at 366.24,

CVX, MRK, AXP, VZ led the DJIA, 21 advancers, +6

NWSA, AXON, OXY, VFC led the SPX, 278 advancers

EBAY, PANW, REGN, BIIB led the NDX, 40 advancers.

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

Up:  DIA, IWM,

Down:  SPY, QQQ,

Seven of eleven sectors were higher on Friday, led by XLE, XLV and XLU.

The SPY MFC green line is pointed down at 54 and is defensive.  SPY opened lower and closed near flat.

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

Neutral sectors:  XLV, XLP, XLU, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

40 of 100 NDX stocks closed higher on Friday.

37 NDX stock are above their 30 DMA:  CEG, VRSK, COST, PDD, BKR, CSX, INTU, ROST, ODFL, ADP, CHTR, CMCSA, MAR, PAYX, BKNG, FANG, AMGN, PDD, KDP, CSCO, MRNA, INTC, GOOGL, REGN, AZN, MDLZ, CTSH, LULU, MELI, WBD, AMZN, GILD, TEAM, ILMN, MNST, SGEN, SBUX, PCAR,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

PCAR,

Moving Below 30 DMA = 7

ADBE, AMAT, JD, KLAC, LRCX, META, WDAY,

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