SPX, NDX Closed Lower as Weekly Momentum Slows...Energy, Consumer Discretionary Led Sectors...

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SPX -20.71, 6,260, opened lower traded in a range and closed slightly lower but above its open. 

You can see from the weekly SPX chart, after breaking out to a new high on June 27, last week had upward momentum and this week formed a doji closing today essentially where it opened on Monday. Through Friday, Wednesday’s bull flag bounce produced a +0.27% momentum bounce above the high of the following day on Tuesday.

The NDX -0.21% traded in a range forming a spinning top.  Weakness in TEAM, ADSK, PANW, ZS and CRWD continued from Thursday while selling weakness appeared in PYPL and GILD on Friday.

The DJI, 44,371 -0.63%, a pause day after a bull flag bounce on Wednesday.   

Breadth weakened Friday.

TSLA +3.64, +1.17%, channel bounce continuation.

AVGO -1.02, -0.37%, BO test pattern, HBO setup.

DAL -0.13, -0.23%, gap up pause after a positive EPS reaction. 

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

SPY down 2.20 at 623.62, 63.6 million shares, below average volume

VIX up 0.62 at 16.40,

QQQ down 1.25 at 554.20

UNH, AMZN, CVX, MCD led DJIA, 8 advancers, -12

HAL, CPB, VTR, ANET led SPX, 110 advancers,

MSTR, KHC, CEG, BKR led NDX, 25 advancers,

Up:

Down: QQQ, SPY, DIA, IWM,

The SPY MFC green line is flat at 92.6 and is short-term bullish. -1.1

Two of eleven sectors were higher on Friday led by XLE and XLY.

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

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

25 of 100 NDX stocks closed higher on Thursday.

63 NDX stocks are above their 30 DMA: IDXX, CEG, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, SBUX, QCOM, NXPI, CSGP, GFS, BKNG, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, FAST, PEP, AAPL, CCEP, LIN, ABNB, AMGN, BIIB, KDP, ODFL, TTD, VRTX, MSTR, REGN, ORLY, PLTR, PDD, CDW, KHC, EXC, FANG, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 9

AZN, CHTR, CMCSA, CRWD, DXCM, GILD, MDB, NFLX, PYPL,

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