SPX Closes Slightly Lower as the NDX, QQQ and SPY Make New All-time Closing Highs...Technology, Communication Services Lead Sectors...4-day Trading Week...

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The SPX -2.14, 5,431, opened slightly lower after political developments in France turned futures lower in the pre-market, offsetting gains from positive EPS reaction from ADBE and traded in a narrow range.  The SPX closed above 5,400 for a third day. The SPY, QQQ and NDX +0.42% made a new all-time closing highs. Breadth was mixed on Friday.

New Fed speak opinions from Mester and Goolsbee added intraday fluctuations to Friday’s trading range.

NVDA +2.27, +1.75%, 131.88, made an all-time closing high.

ADBE +66.57, +14.51%, beat earnings and revenue estimates, raised guidance and made positive comments regarding adoption of its AI functionality.

AVGO +56.05, +3.34%, made an all-time closing high after an EPS beat with revenues from AI at $3.1 billion and announcing a 10 for 1 stock split July 15.

TSLA -4.46, -2.44%, 178.01, fell back into its 5-week trading range the day shareholders voted to ratify Musk’s $56 billion 2018 pay package.

Markets will be closed on Wednesday, June 19, for Juneteenth National Independence Day, making next week a four-day trading week.

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

SPY up .33 at 542.78 on 40.0 million shares, below average volume.

VIX up .72 at 12.66

QQQ up 2.47 at 479.19

CRM, AXP, WMT, CSCO led the DJIA, 13 advancers, -2

ADBE, HAS, AVGO, NOW, NFLX led the SPX, 134 advancers 

ADBE, MDB, AVGO, SIRI led the NDX, 47 advancers

Up:  QQQ, SPY,

Down:  DIA, IWM,

Four of eleven sectors were higher on Friday, led by XLK, XLC and XLP.

The SPY MFC green line is turned up at 96.7 and is short-term bullish.

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

Neutral sectors:  XLV, XLRE, XLY,

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: Up

47 of 100 NDX stocks closed higher on Friday.

54 NDX stocks are above their 30 DMA:  AZN, GOOGL, PDD, TXN, TSLA, COST, TTD, VRSK, AAPL, ADI, QCOM, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, MU, TMUS, TTWO, EA, CDW, ROST, BIIB, HON, CCEP, CMCSA, META, ROP, SBUX, MSFT, AVGO, CRWD, LIN, LRCX, ZS, ILMN, CEG, CTAS, PANW, LIN, ORLY, ADSK, DDOG, FTNT, MAR, MRVL, TSLA, ADBE,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

ADBE,

Moving Below 30 DMA = 10

ANSS, CDW, DASH, IDXX, KDP, MRNA, NXPI, ON, PAYX, PCAR,

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