SPX, NDX Close Lower after News that Tariffs to Start Sat. Feb 1...Communication Services Lead Sectors...AAPL Reports Best Quarter Ever...

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SPX -30.64, 6,040, opened higher after the PCE Report was inline with consensus at M/M 0.3% and Y/Y 2.6%, headed for an all-time high, but reversed lower around 1 pm ET when news hit that tariffs of Canada and Mexico would be in effect Saturday Feb. 1.  Breadth turned negative, the MFC GL turned down, many stocks turned negative, and the SPX formed a bearish engulfing pattern. 

AAPL -1.59, -0.67%, delivered its best quarter ever, driven by strong sales of iPads, Macs and record services revenue while the stock reversed from a bullish gap higher to a bearish engulfing pattern.

The DJI, 44,544, closed -0.75%, opened higher, closed lower and formed a bearish engulfing candle.  NDX -0.14% opened higher, closed lower and formed a bearish engulfing pattern.

TSLA +4.32, +1.08%, gapped up after earnings, traded in a range and closed higher.

Friday EPS reactions: KLAC -4.19, -0.56%, V -1.25, -0.36%, DECK -45.75, -20.51%.

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130 SPX companies report next week: Monday BMO: IDXX, TSN, Monday AMC: CLX, DOC, EG, EQR NXPI, PLTR

Mega Caps: Tue AMC: GOOGL, GOOG, Thu AMC: AMZN

First day reaction: Q4

Positive: BEN, EMN, ABBV, BKR, CHTR, IBM, LVS, LRCX, TMO, WM, PH, DGX, ROP, PHM, WDC, DOV, MA, TSLA, URI, SHW, META, CCI, FFIV, SBUX, TMUS, NSC, CB, RCL, IVZ, NUE, RTX, BA, T, NEE, GE, UNP, ELV, MKC, NTRS, NFLX, APH, STX, TDY, TEL, COF, GEV, PG, PLD, SCHW, MMM, FITB, SLB, TFC, FAST, CFG, HBAN, MS, BK, WFC, C, GS, BLK, JPM, WBA, DAL = 65

Neutral: AJG, ETN, AON, V, BR, LYB, RVTY, KLAC, AAPL, MMC, TT, CAH, NOC, LHX, RJF, ADP, NDAQ, PGR, HES, WRB, VZ, ABT, ADM, BAC = 24

Negative: DECK, RMD, PPG, GWW, CL, CVX, GEN, INTC, XOM, PSX, HIG, CHD, WY, UPS, NOW, CMCSA, CHRW, CI, MSFT, DOW, TER, AVY, TSCO, AMP, CAT, BX, VLO, AOS, MO, IP, LUV, PKG, DHR, LII, BXP, MSCI, GD, GLW, OTIS, SYK, LMT, GM, SYY, ARE, SYF, NVR, BRO, PCAR, KMB, TXN, ISRG, HCA CSX, AXP, FCX, HAL, TXT, UAL, JNJ, KEY, DHI, JBHT, STT, RF, UNH, USB, MTB, PNC, STZ = 69

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

SPY down 3.22 at 601.82, 66.6 million shares, above average volume

VIX up .59 at 16.43,

VIX1D up 1.79 at 16.51,

QQQ down .76 at 522.29

AMZN, AMGN, CSCO, MSFT led the DJIA, 4 advancers, -19           

BEN, EMN, ABBV, KEYS led the SPX, 116 advancers,

TEAM, VRTX, ARM, EA led the NDX, 37 advancers

Up:

Down: QQQ, SPY, DIA, IWM,

The SPY MFC green line is pointed down at 76.6 and is defensive. -3.5.

One of eleven sectors was higher on Friday, led by XLC, XLRE and XLV.

Uptrend sectors: XLF, XLC, XLI, XLY, XLK, XLU,

Neutral sectors: XLE, XLRE, XLB, XLP,

Down trend sectors: XLV,

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: Sideways

37 of 100 NDX stocks closed higher on Friday.

67 NDX stocks are above their 30 DMA:  CEG, BKR, KLAC, CDW, GEHC, ISRG, AEP, DXCM, ARM, EXC, PAYX, QCOM, AMGN, ANSS, MELI, META, PDD, PYPL, SNPS, ADP, AZN, LIN, SBUX, AMZN, APP, CSGP, CTAS, DASH, ODFL, CRWD, CSX, FTNT, GILD, ORLY, ROP, VRSK, VRTX, ZS, ADSK, CTSH, MDB, NFLX, PANW, PLTR, TEAM, LULU, MAR, CCEP, TTWO, COST, TMUS, WDAY, ADBE, AXON, CSCO, GOOGL, AMAT, KDP, PCAR, PEP, WBD, ASML, CPRT, IDXX, LRCX, ROST, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0   

Moving Below 30 DMA = 3

FANG, FAST, KHC,

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