© 2023
The SPX -9.94 opened
higher, rallied and sold off twice before ending slightly lower for Friday. The SPX closed below four-week support
on August 18.
Breadth was stronger and finished negative on Friday.
Mega
caps NVDA, META, AAPL rose and GOOGL, AMZN, MSFT, TSLA fell on Friday.
SPY down .97 at 430.42, on 100.8 million
shares, above average volume, closed lower on lower volume.
VIX down -.34 at 17.20
QQQ up .05 at 357.91
UNH, CVX, AAPL, CSCO led the DJIA, 2 advancers, -7
ON, AVGO, FDS, FTI led the SPX, 174 advancers
PDD, SGEN, ON, TEAM led the NDX, 53 advancers
The two-year trend term is sideways. The
one-year trend is up.
Up: QQQ,
Down: SPY, IWM, DIA,
Two of eleven sectors were higher on Friday, led by XLK, XLE and XLB.
The SPY
MFC green line is pointed down at 25.6 and is short-term
bearish. SPY opened higher
and closed lower.
Uptrend sectors: XLE, XLC,
XLF,
Neutral sectors: XLY, XLV, XLK, XLI, XLU
Down trend sectors: XLB, XLRE, XLP,
The 6-month intermediate
trend is up. The ten-day trend is down.
3-month Intermediate Term Market
Trend: Sideways
3-day Short Term Market Trend: Down
53 of 100 NDX stocks
closed higher on Friday.
22
NDX stocks are above their 30 DMA: CEG, SGEN,
VRSK, CTAS, MU, PDD, CRWD, AMGN, TMUS, CHTR, COST, GFS, HON, AEP, CSX,
KHC, VRTX, XEL, LULU, META, PCAR, ZS,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
LULU, META, PCAR, ZS,
Moving Below 30 DMA = 3
EBAY, EXC, TSLA,
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