SPX Opens Lower after a Strong Jobs Report, Broad Reversal Leads to Higher Close...GL Turns Up...Technology, Communication Services Lead Sectors Higher...

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The SPX +50.31, gapped down after a stronger than expected Jobs Report, 336K vs 170K expected as some narratives indicate fears of Fed hikes.  After the first hour of trading selling exhausts and a broad rally leads to a strong close and key reversal day.

Breadth was positive on Friday.

Earnings season starts next Friday with JPM EPS.

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

SPY up 5.04 at 429.54, on 113.2 million shares, above average volume, closed higher on higher volume. 

VIX down -1.04 at 17.45

QQQ up 6.01 at 364.70

CRM, DIS, HON, MSFT led the DJIA, 24 advancers, +9

PXD, MKTX, MGM, LLY led the SPX, 398 advancers

PDD, CRWD, ZS, TEAM led the NDX, 89 advancers.

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

Up:  QQQ, SPY, IWM, DIA,

Down: 

Ten of eleven sectors were higher on Friday, led by XLK, XLC and XLU.

The SPY MFC green line turned up at 14.8 and is short-term bullish.  SPY opened lower after the Jobs Report, reversed and closed broadly higher for the day.

Uptrend sectors:   XLE, XLC, XLF,

Neutral sectors:  XLV, XLK,

Down trend sectors: XLY, XLI, XLU, XLB, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

89 of 100 NDX stocks closed higher on Friday.

37 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, COST, META, SIRI, AMGN, EA, GEHC, GOOGL, PCAR, SNPS, TSLA, VRTX, BIIB, MU, REGN, ADP, AMD, CDNS, CEG, CPRT, CSGP, CSX, DDOG, FAST, INTC, INTU, MCHP, MSFT, NVDA, ODFL, PANW, TMUS, TTD, XEL, ZS,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 20

ADP, AMD, CDNS, CEG, CPRT, CSGP, CSX, DDOG, FAST, INTC, INTU, MCHP, MSFT, NVDA, ODFL, PANW, TMUS, TTD, XEL, ZS,

Moving Below 30 DMA = 0

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