DJI, SPX, NDX, RUT Closed Higher...VIX Fell...Breadth Strengthened led by Technology and Mega-cap Stocks...

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Our iBullyBear Mentoring account remained near its Net Liq high on strength in DELL, DDOG and other gainers on Friday. 

Employ a systematic approach to decision-making in the face of uncertainty.  If you want to improve your skills contact us through the iBullyBear link above.

Stay Focused on the trend.  Anders Ericsson said: “gaining expertise is largely a matter of improving one’s mental processes” and expertise was “a long term process.”

SPX +39.28, 7,743 rallied back above Monday’s S2 level, which closed above Thursday’s high. Breadth was positive as advancers led on both the NYSE and the NASDAQ exchanges.  A drop in oil prices along with a rally in technology stocks contributed to the rally in the broad market.

RUT 2,837 rose +1.98. Oil /CL fell -2.32 and closed at 92.44.  

SPX advancers: BE ON MCHP GNRC DELL CVS IT MHK PYPL HUM DDOG.

SPX decliners: GEN CHTR PANW DVN GDDY DRI CBOE INTC GIS LYB AXON.

SPY +4.17, +0.54%, below average volume of 36.6 million shares, bounce day. 

VIX -0.80, 14.87 fell.

NDX +0.42% closed above Thursday and just below its June high a setup for horizontal resistance breakout to an all-time high.

DJI, 51,828 +0.93%, a bullish engulfing candle.

Up: DIA, SPY, QQQ, IWM,

Down:

Mega caps MSFT, AAPL, AVGO, GOOGL, NVDA, AMD, MU, LLY, AMZN, BRK/B rose, and TSM, TSLA, META fell on Friday.  AMD remained above a $1T market cap for a fifth day.

SPCX closed at 148.68, +0.65, volume of 54.6 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s long-term fundamental future. 

The SPY MFC green line is up at 70.7, price-action on Friday is a bounce day and is short-term bullish. +6.5

Eight of eleven sectors were higher on Friday, led by XLI and XLK. 

65 of 100 NDX stocks closed higher on Friday.

47 NDX stocks are above their 30 DMA: GILD, SPCX, MSTR, TSLA, QCOM, AAPL, META, AMD, INTC, AZN, CRWD, FTNT, PANW, ISRG, LITE, MRVL, PLTR, MU, NXPI, SNDK, ADI, ALAB, NBIS, NVDA, STX, TER, TXN, ALNY, DDOG, MPWR, MSFT, RKLB, WBD, ASML, MAR, MDB, KLAC, LRCX, MCHP, SNPS, AMAT, CDNS, FAST, ROST, AMGN, GOOGL, KDP,

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 3

AMGN, GOOGL, KDP,       

Moving Below 30 DMA = 1

CRWV

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