"Trends Matter Most"...DJI, SPX, NDX, RUT Closed Lower...Breadth Weakens Slightly...VIX Closed Slightly Lower...

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iBullyBear has been teaching over the past nine years and emphasizing in our morning sessions the past two weeks that: Trend is the most important factor in every trade!

Fed Chairman Kevin Warsh, today in his Jack Hole Symposium speech shared seven principles that guide his thinking on the appropriate conduct of monetary policy.  Sharing his first principle he said: “Trends matter most.”

Each morning, we review: Trade what you see. Trend direction. Trend strength.

What do we know?  SPX, DJI, RUT are in three-month uptrends.  NDX is in a three-month sideways trend.

SPX -19.23, 7,711, bull flag bounce paused on Friday.  Closed above 7,700 for a second day since August 19.  Breadth weakened as decliners led on the NYSE and NASDAQ exchanges.  The VIX made its second lowest close in 7 months.  RUT 2,972 pulled back on Friday.

SPX advancers: SOLS WDAY DPZ LULU NOW SLB AMZN CHTR BG EXPE EBAY.

SPX decliners: PYPL MRVL PCG GNRC LITE COIN COHR CIEN LRCX HOOD Q.

SPCX closed at 141.50, +0.63, on volume of 55 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12. 

SPY -1.75, -0.23%, below average volume of 36.7 million shares.

VIX -0.08, 14.43 second lowest close in 7 months. 

NDX -0.70% a bull flag bounce pause day.

DJI, 53,559 -0.02%, flag bounce pause day, red spinning top.

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

Up:

Down: DIA, SPY, QQQ, IWM,

The SPY MFC green line is up at 75.7, price-action on Friday, paused and remained above the high of the low day (August 20), a bull flag bounce pause day and is short-term bullish. +1.4

Five of eleven sectors were higher on Friday. 

43 of 100 NDX stocks closed higher on Friday.

54 NDX stocks are above their 30 DMA: AMGN, ADP, PAYX, REGN, INTU, ADSK, ROP, ADBE, BKNG, FAST, TRI, WDAY, ABNB, BKR, CPRT, DASH, DXCM, MSFT, CMCSA, GEHC, CEG, MDB, LITE, NFLX, PLTR, WBD, AXON, GILD, SPCX, VRTX, MU, MRVL, SNDK, KDP, PEP, CSX, MELI, MSTR, TSLA, SBUX, SNPS, CDNS, QCOM, CRWD, FTNT, NVDA, PANW, AAPL, AMZN, CCEP, GOOGL, ISRG, KHC, TMUS,   

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 7

AAPL, AMZN, CCEP, GOOGL, ISRG, KHC, TMUS,   

Moving Below 30 DMA = 6

CRWV, FANG, LRCX, MDLZ, NBIS, PYPL,

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