SPX Closes Higher...NDX New All-time Closing High...Communication Services, Consumer Discretionary, Utilities Lead Sectors...

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Markets are closed on Monday for the Memorial Day holiday.  Enjoy the 3-day weekend with your loved ones, Be safe. Relax. Be amazing.

We express gratitude on this Memorial Day weekend to all individuals’ and their families who’s sacrifice of life and time have contributed to the establishment and preservation of the God given liberties and freedoms we enjoy in America.  Thank You!!!

The SPX +36.88, 5,304, gapped up 13 points on the open, trended higher and closed higher, in contrast to Thursday’s higher open and reversal pullback.  The SPX formed a white candle that neutralized in part Thursday’s bearish engulfing pattern.  The NDX made a new all-time closing high.

NVDA +26.70, +2.57%, 1,064.69, continued Thursday’s post blow away earnings breakout, closing above $1,000 for a second day in a row.  Declared a 10 for 1 split to take effect on June 7.

Both WDAY -55.27, -8.35%, the NDX’s largest decliner and INTU -55.27, -8.35%, the SPX’s largest decliner gapped down on a negative earnings reaction.

This week’s SPX earnings include PANW, NDSN, LOW, AZO, TGT, ADI, TJX, SNPS, NVDA, MDT, RL, DECK, INTU, ROST = Seven positive reactions, seven negative reactions

Next week’s SPX earnings include A, CRM, HPQ, BBY, HRL, DG. ULTA, COO, COST, NTAP.

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

SPY up 3.48 at 529.44 on 41.2 million shares, below average volume.

VIX. down .84 at 11.93

QQQ up 4.29 at 457.95

INTC, JPM, AAPL, DOW led the DJIA, 19 advancers, +19

DECK, FSLR, GEV, ENPH led the SPX, 354 advancers 

ROST, CEG, QCOM, AMD led the NDX, 75 advancers

Up:  IWM, QQQ, SPY,

Down:  DIA,

Nine of eleven sectors were higher on Friday, led by XLC, XLY and XLU. 

The SPY MFC green line is pointed down at 92.7 and is counter-trend defensive.

Uptrend sectors:  XLU, XLP, XLK, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLV, XLRE,

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

75 of 100 NDX stocks closed higher on Friday.

62 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, PEP, AEP, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, CTAS, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, ADP, IDXX, ISRG, MSFT, PAYX, CHTR, MU, TSLA, AMD, BKR, CTSH, MRVL, ROP, TMUS, TTWO, EA, LRCX, CDW, ANSS, DDOG, META, ROST,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

DDOG, META, ROST,

Moving Below 30 DMA = 3

ADBE, INTU, WDAY,

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