SPX Opens Higher, Closes Lower on Breakout Test on Expiration Friday...EPS Kick off with Positive Reactions from PGR, WFC, UNH, JPM...

© 2023

The SPX -21.83 fell less on Friday. The SPX opened higher, reversed and closed lower. 

Breadth continued negative on Friday.

Earnings season unofficially started Friday, October 13 with PGR, WFC, UNH, JPM, C, BLK, and PNC EPS.

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

SPY down 2.16 at 431.50, on 95.2 million shares, above average volume, closed lower on higher volume. 

VIX up 2.63 at 19.32

QQQ down 4.65 at 365.28

UNH, TRV, CVX, JPM led the DJIA, 12 advancers, -0

DG, PGR, ALL, APA led the SPX, 219 advancers
SIRI, ISRG, FANG, KHC led the NDX, 31 advancers

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

Up:  DIA,

Down:  SPY, IWM, QQQ,

Five of eleven sectors were higher on Friday, led by XLE, XLU and XLP.

The SPY MFC green line is pointed up at 40.2 and is short-term bullish.  SPY opened higher, reversed and closed lower on a reversal breakout test for the second day. 

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLY, XLI, XLF, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down a little

31 of 100 NDX stocks closed higher on Friday.

44 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, COST, META, SIRI, AMGN, EA, GOOGL, SNPS, VRTX, BIIB, REGN, ADP, AMD, CDNS, CEG, CPRT, CSGP, CSX, FAST, INTU, MSFT, NVDA, PANW, TMUS, XEL, ZS, AAPL, AVGO, CHTR, CTAS, FANG, PAYX, VRSK, ENPH, GILD, KLAC, WBA, ADBE, EXC, LRCX, GEHC, ORLY,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

GEHC, ORLY,

Moving Below 30 DMA = 14

ADSK, AMAT, ASML, AZN, INTC, MCHP, MU, MRVL, NXPI, ODFL, PCAR, QCOM, TSLA, TTD,

Add Comments here: