© 2023
-PCE report BMO, Core M/M 0.4% vs. .04%
prior, Core Y/Y 4.7% vs 4.7% prior
-Breadth was modestly
stronger on Thursday.
-AAPL +.34, 189.59, all-time closing high, nearing
$3 trillion market cap.
-TSLA
+1.26, +0.49%, continued to bounce.
-Regional banks continue to rallyl: KRE +.76, +1.87%, ZION +.19, +0.70%.
Mega
caps TSLA, AAPL rose and MSFT, NVDA, AMZN, GOOGL,
META fell.
SPY up 1.72 at 438.11, on 67.7 million shares, below average volume, up on lower
volume.
VIX up .11 at 13.54
QQQ down .73 at 363.81
JPM, GS, V, HON, IBM led the DJIA, 22 advancers, +6
CTLT, WFC, TECH, CZR led the SPX, 390 advancers
LCID, PCAR, MAR, AEP led the NDX, 52 advancers.
The two-year trend term is sideways. The
one-year trend is up.
Up: IWM, DIA, SPY,
Down: QQQ,
Seven of eleven sectors were higher on Thursday, led by XLF,
XLB and XLE. Visible rotation
from tech and into financial, material and industrial sectors today.
The SPY
MFC green line is pointed up at 74.5 and is short-term bullish. SPY opened lower and closed higher on the
third day of a bull flag bounce.
Uptrend sectors: XLK, XLC,
XLY, XLI, XLF, XLB, XLRE, XLV, XLP,
Neutral sectors: XLU, XLE,
Down trend sectors:
The 6-month intermediate
trend is up. The ten-day trend is up a little.
3-month Intermediate Term Market
Trend: Up
3-day Short Term Market Trend: Up
52 of 100 NDX stocks
closed higher on Thursday.
71
NDX stock are above their 30 DMA: AAPL,
AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX,
META, VRSK, FTNT, ZS, NFLX, AMAT, KLAC, AVGO, MRVL, TSLA, WDAY, CSCO, ADBE, CTAS,
PANW, NXPI, COST, PDD, ATVI, INTC, QCOM, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR,
ALGN, SIRI, ADI, FAST, INTU, LULU,
ROST, VRTX, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA,
EA, EXC, GFS, ADSK, ANSS, ASML, BKNG, CDNS, CTSH, DDOG, EBAY, MAR, TMUS,
TXN, WBD, FANG, LCID,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 2
FANG, LCID,
Moving Below 30 DMA = 3
PAYX, PDD, ZM,
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