SPX, NDX Higher Open, Pullback, Rally to a Higher Close...Consumer Discretionary, Technology, Basic Materials Lead Sectors...

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Markets are closed on Monday for Labor Day.  Have a wonderful 3-day weekend.

The SPX 56.44, 5,648, opened higher, pulled back, reversed after noon and rallied to close higher, just 18 points below its all-time closing high on July 16, an HBO setup.  The VIX opened lower, trended down and closed lower.

The NDX +1.29%, opened higher, reversed after noon and closed lower.

NVDA +1.78, +1.51%, opened higher, traded in a range and closed higher.  Several analysts raised their price targets on NVDA after earnings.  On Friday, Phillip Securities raised their price target to $155 from $140.

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

SPY up 5.33 at 563.68, 62.7 million shares, above average volume, C-pattern BO continuation, HBO setup to all-time high

VIX down.65 at 15.00

QQQ up 5.61 at 476.27

INTC, AMZN, IBM, MMM led the DJIA, 26 advancers, -1

INTC, GEV, WDC, HPE led the SPX, 430 advancers

MDB, INTC, MRVL, TSLA, AVGO led the NDX, 82 advancers

Up:  QQQ, SPY, IWM, DIA,

Down: 

All eleven sectors were higher on Friday, led by XLY, XLK and XLB.

The SPY MFC green line is pointed up at 92.7 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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 a little

75 of 100 NDX stocks closed higher on Friday.

77 NDX stocks are above their 30 DMA:  EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, MRVL, ROP, ROST, TXN, WDAY, ZS, CEG, TTWO, AMD, CPRT, BKNG, CDW, CSGP, LULU, ADI, CRWD, ON, TEAM, ASML, HON, MAR, AMGN, VRSK, VRTX, CSX, DDOG, MDB, AMZN, ARM, CDNS, CMCSA, FAST, MCHP, MSFT, NXPI, PCAR, QCOM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 10

AMZN, ARM, CDNS, CMCSA, FAST, MCHP, MSFT, NXPI, PCAR, QCOM,

Moving Below 30 DMA = 1

FANG,

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