Thursday, June 1, 2023

SPX Opens Flat Closes Higher as NVDA and Semiconductors Bounce Back...Communication Services, Materials, Industrials Lead Sectors...


© 2023


-SPX +41.19, opens flat, range trades, trends up and closes higher.
-Debt ceiling deal passed in the House Wed. and approved by Senate today.
-VIX down 2.29
-NTAP +5.61, +8.46% gap up on EPS, closes above resistance.
-CRWD -2.58, -1.61%, EPS beat, raise FY24 guidance
-CRM -10.48, -4.69%, EPS beat, raise Q2 guidance
-Fed speak from Harker prefers skipping June hike subject to data.
-After hours: AVGO -14.45, -1.83%, EPS & Sales beat
-Jobs Report Friday 8:30 am ET, Non-farm payrolls 190K est.


/CL, GLD and TLT closed higher, while DXY and TNX moved lower.

Mega caps NVDA, META, AMZN, TSLA, AAPL, MSFT, GOOGL rose.


SPY up 3.97 at 421.82, on 88.8 million shares, above average volume, up on lower volume.
VIX down 2.29 at 15.65.
QQQ up 4.02 at 352.01


AXP, V, HD, CAT led the DJIA, 23 advancers, +10
MTCH, NTAP, FTI, CEG led the SPX, 368 advancers
JD, PDD, ALGN, NVDA led the NDX, 70 advancers.


The two-year trend term is sideways.  The one-year trend is sideways.

Up:   QQQ, IWM, SPY, DIA,
Down:

Nine of eleven sectors were higher on Thursday, led by XLC, XLB and XLI.

The SPY MFC green line is pointed up at 83.2 and is short-term bullishSPY opened flat and closed higher.

Uptrend sectors:   XLK, XLC, XLY,
Neutral sectors:  XLV, XLP, XLB, XLI, XLU, XLRE,
Down trend sectors: XLE, XLF,

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 TrendUp a little


70 of 100 NDX stocks closed higher on Thursday.

54 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, MNST, CSGP, MSFT, NVDA, LRCX, META, VRSK, CTSH, DDOG, GOOG, GOOGL, AMD, CRWD, FTNT, ZS, NFLX, AMAT, ASML, KLAC, AVGO, MRVL, MU, SNPS, RIVN, TSLA, WDAY, CSCO, ADBE, TEAM, CTAS, PANW, CDNS, NXPI, TXN, ZM, ANSS, COST, EA, GFS, PDD, ATVI, INTC, QCOM, ADSK, BKR, CSX, DXCM, MCHP, ODFL, SIRI,

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 6
BKR, CSX, DXCM, MCHP, ODFL, SIRI,


Moving Below 30 DMA = 2
LCID, OKTA,




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