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The SPX -33.39 opened lower, traded in a 32-point range, formed a spinning
top and closed lower forming a bull flag price pattern on above average volume. The FOMC will meet starting Tuesday and will
announce on Wednesday at 2 pm ET, its interest rate decision. Expectation is the Fed will hold rates at its
current 5 ¼ - 5 ½% range.
NVDA -1.07, -0.12%, 878.36, pulled back modestly in a bull flag
setup. AMD and MU closed
slightly higher while most semi’s closed lower.
MU reports earnings on Wednesday, March 20 AMC.
JBL -24.31, -16.49%, ADBE -77.99, -13.67%, ULTA -29.46,
-5.21%, closed lower on negative earnings
reactions.
Mega caps TSLA rose and NVDA, AAPL, GOOGL, META, MSFT, AMZN fell on Friday.
SPY down 3.52 at 509.83, ex-div 1.595
today, on 107.6 million shares, above average volume, closed lower on similar volume
VIX up .01 at 14.41
QQQ down 5.22 at 433.92
MMM, CAT, JPM, MRK led the DJIA, 7 advancers, -0
CSGP, STLD, CMI, NUE led the SPX, 229 advancers
CSGP, ISRG, PCAR, AMD, MU led the NDX, 29 advancers
Up: IWM,
Down: DIA, SPY, QQQ,
Four of eleven sectors were up on Friday, led by XLE, XLU and
XLB
The SPY
MFC green line is pointed down at 87.2 and is counter-trend defensive.
Uptrend sectors: XLF, XLI,
XLE, XLB, XLP, XLC, XLK, XLY, XLV,
Neutral sectors: XLRE, XLU,
Down trend sectors:
The 6-month intermediate
trend is up. The ten-day trend is Down a little.
3-month Intermediate Term Market
Trend: Up
3-day Short Term Market Trend: Down
29 of 100 NDX stocks
closed higher on Friday.
44 NDX stocks are above their 30
DMA: CTAS,
META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY,
AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, GEHC, QCOM, FANG, AEP, CCEP, EXC,
AMD, CPRT, MU, CSGP, MNST, BKR, TXN, AZN, DXCM, MCHP, MRNA, ADI, GILD,
CMCSA, PYPL, ROP, LULU, MSFT, GOOGL, HON, ISRG, REGN,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
HON, ISRG, REGN,
Moving Below 30 DMA = 11
ADSK, ASML, CDNS, CHTR, CRWD, CSCO, LRCX,
MAR, NXPI, ROST, TMUS,
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