Friday, January 5, 2024

SPX Closes Higher after Jobs Report...Financial, Communication Services, Utilities Lead Sectors...


© 2024


The SPX +8.56, 4,697.24 opened higher for the first time this week, traded in a range and closed higher just above its Dec 20 short-term support. 

The Jobs Report was higher, 216K vs 164K, than expected but contained a downward revision of Oct and Nov by a total of 71K jobs essentially offsetting the Dec higher than expected numbers.

CPI report Thursday, Jan 11.  PPI report Friday, Jan 12.


Mega caps NVDA, META, AMZN rose and MSFT, TSLA, AAPL, GOOGL fell on Friday.


SPY up .64 at 467.92 on 86.1 million shares, above average volume, closed higher on higher volume. 
VIX down .78 at 13.35
QQQ up .47 at 396.75


WBA, VZ, BA, HD led the DJIA, 17 advancers, +1
CTLT, LUV, AAL, VTRS led the SPX, 280 advancers 
MRVL, PYPL, DDOG, NVDA led the NDX, 47 advancers.

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

Up:  SPY, QQQ, DIA,
DownIWM,

Seven of eleven sectors were higher on Friday, led by XLF, XLC and XLU.

The SPY MFC green line is pointed down at 73.8 and is defensive. 

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

The 6-month intermediate trend is up.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendDown


47 of 100 NDX stocks closed higher on Friday.

52 NDX stocks are above their 30 DMA:  LULU, DLTR, INTC, AEP, CRWD, CTAS, ROST, TMUS, DXCM, AMD, HON, QCOM, KHC, COST, PCAR, PDD, ZS, BKNG, MAR, IDXX, ISRG, CSX, TXN, XEL, MRNA, TEAM, REGN, AMGN, GILD, ILMN, BIIB, WBA, AVGO, MRVL, MU, ANSS, FTNT, GEHC, SIRI, AZN, META, VRTX, CSCO, CCEP, SPLK, FANG, GOOG, MNST, ADP, MDLZ, PEP, ADSK, CMCSA, NVDA, PYPL,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
CMCSA, NVDA, PYPL,


Moving Below 30 DMA = 8
CTSH, GOOGL, KDP, NFLX, TTWO, VRSK, WBD, WDAY,




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