SPX, RUT, DJI, NDX Close Lower Again...SPX, SPY in 3-day Bull Flag Pattern Setup...Health Care, Utilities Lead Sectors...Earnings Reactions Mixed...Broad Market Defensive...

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The SPX -39.59, 5,505, opened flat, traded in a range for about 45 minutes before falling about 45 points over the next three hours, selling exhausted and the SPX traded in a range until the close.  A three-day bull flag setup has formed on the SPX and SPY.

The NDX -0.93% also closed modestly lower.

Fed’s Williams and Bostic were scheduled to speak on Friday. 

Earnings season’s continues next week with 137 SPX companies reporting.  On Monday IQV, TFC, VZ report BMO and ARE, BRO, CDNS, NUE, NXPI, WRB .report AMC.

First day reaction: Q1

Positive:  ISRG, HBAN, SLB, FITB, DHI, CTAS, KMI, EFX, MTB, BX, DFS, USB, JNJ, CFG, PLD, STT, UNH, BAC, PNC, GS, BK, FAST= 22

Neutral: RF, TXT, CCI, STLD, SYF, MS, BLK = 7

Negative:  TRV, HAL, PPG, AXP, NFLX, DPZ, ABT, KEY, LVS, SNA, MMC, UAL, JBHT, ELV, NTRS, OMC, SCHW, PGR, WFC, C, JPM = 21

The first full week of earning’s reactions were mixed in a week where the broad market closed lower.

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

SPY down -3.67 at 548.99, 65.5 million shares, above average volume

VIX up .59 at 16.52

QQQ down -2.28 at 475.24

MRK, NKE, PG, UNH led the DJIA, 8 advancers, +5

ISRG, SBUX, HBAN, UAL, SYK, BSX led the SPX, 137 advancers 

ISRG, SBUX, DASH, ARM led the NDX, 32 advancers

Up: 

Down:  IWM, SPY, DIA, QQQ,

Two of eleven sectors were higher on Friday, led by XLV, XLU and XLRE.

The SPY MFC green line is pointed down at 79.5 and is defensive.

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

Neutral sectors: 

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

32 of 100 NDX stocks closed higher on Friday.

54 NDX stocks are above their 30 DMA:  VRSK, AAPL, REGN, FANG, VRTX, CHTR, TMUS, EA, HON, CTAS, ADSK, MAR, TSLA, ADBE, AMGN, BKR, GILD, INTU, FANG, TEAM, CSX, INTC, ODFL, WDAY, GFS, TXN, AEP, CTSH, GEHC, ILMN, ROP, CDW, CSCO, CSX, FAST, MDB, LIN, ADP, CMCSA, PAYX, EXC, MNST, PCAR, XEL, KHC, PEP, MDLZ, AZN, BKNG, ISRG, MELI, ORLY, PANW, SBUX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

AZN, BKNG, ISRG, MELI, ORLY, PANW, SBUX,

Moving Below 30 DMA = 5

ADI, CSGP, NXPI, ON, ZS, 

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