SPX, NDX Close at an All-time Closing High after Jobs Report...Communication Services, Consumer Staples, Consumer Discretionary Lead Sectors...META, AAPL, MSFT among Market Leaders...

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The SPX +30.17, 5,567, opened flat, after a Jobs Report that produced 206K jobs vs 189K consensus, but a 4.1% unemployment rate vs. 4.0% consensus, trended up, and closed above 5,500 for the third day at an all-time new closing high.  The NDX +1.02% also closed at a new all-time closing high.  META, AAPL, MSFT and TSLA were among today’s leaders. 

Fed Chair Powell spoke at the ECB Forum on Tuesday in a moderated panel with ECB President Christine Legarde and Brazil ‘s Roberto Campos Neto.  The market reacted to the upside after the panel. 

Powell again acknowledged that at last year’s ECB meeting there was a lot the Fed didn’t know that was going to occur in the second half of 2023 including seven months of much lower inflation rates. They continue to speak about the present and future in a way that suggests like last year, there is still a lot that they don’t know.

NVDA -2.45, -1.91%, 125.83, opened slightly lower, traded in a range above Wednesday’s S1 level. 

MU -5.22, -3.82%, reversed Wednesday’s bounce a closed below the high of the low day hammer on Monday, July 1 and is a BO re-test.

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

SPY up 3.18 at 554.64, 41.4 million shares, below average volume

VIX up .22 at 12.48

QQQ up 5.12 at 496.16

WMT, INTC, AAPL, MSFT led the DJIA, 19 advancers, +5

META, BAX, AMD, WRK, STZ led the SPX, 237 advancers 

ARM, META, AMD, GFS led the NDX, 71 advancers

Up:  QQQ, SPY, DIA,

Down:  IWM,

Eight of eleven sectors were higher on Friday, led by XLC, XLP and XLY.

The SPY MFC green line is pointed up at 91.8 and is short-term bullish.

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

Neutral sectors:  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: Up

71 of 100 NDX stocks closed higher on Friday.

65 NDX stocks are above their 30 DMA:  GOOGL, TSLA, COST, TTD, VRSK, AAPL, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, TMUS, EA, ROST, HON, META, ROP, MSFT, AVGO, CRWD, LRCX, ZS, CTAS, PANW, ORLY, ADSK, MAR, TSLA, ADBE, ABNB, AMGN, AMZN, BKR, CTSH, GILD, INTU, CSCO, DDOG, FANG, ARM, TEAM, FTNT, CSX, INTC, ODFL, WDAY, AMD, ANSS, CPRT, GFS, ON, TXN, MDB, MRVL, NXPI, CCEP, ILMN, LIN, MELI,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

CCEP, ILMN, LIN, MELI,

Moving Below 30 DMA = 1

MU,

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