In a wide-ranging swing, VIX rallied above Intermediate-term support/resistance at 17.07 and Short-term support/resistance at 18.26 before closing beneath both levels. Re-crossing the Intermediate-term resistance confirms the VIX buy signal.
S&P 500 repelled at the trendline.
This week SPX tested Long-term support at 2608.04 before rallying toward the 2-year trendline at 2713.74, but closing beneath it. It appears to be on a sell signal. A break beneath Long-term support at 2608.04 confirms the new outlook.
(Reuters) - Amazon and Microsoft pushed the Nasdaq higher on Friday, but weak reports from Exxon (NYSE:XOM) and other energy companies capped gains on the S&P 500 and the Dow Jones Industrial index.
Amazon.com Inc (NASDAQ:AMZN) surged 7.9 percent to a record high of $1,638.10 after the world’s largest online retailer more than doubled its profit and forecast strong spring results.
Microsoft Corp (NASDAQ:MSFT) rose 1.5 percent after topping Wall Street forecasts for profit, while Intel (NASDAQ:INTC) gained 2.2 percent as strength in its data center business drove a profit beat.
Exxon dropped 3.5 percent after posting a lower-than-expected quarterly profit.
The results come a day after Facebook’s impressive earnings beat led a rebound in technology stocks on Thursday and helped the main indexes close above 1 percent.
To read the entire report Please click on the pdf File Below: