© 2024
The SPX -16.13, 4,688.68 opened lower for a third day, traded
in a range and closed just below its Dec 20 short-term support on a selloff
during the final 15 minutes of trading before Friday morning’s Jobs Report at
8:30 am ET.
Piper Sandler downgraded AAPL to neutral before the
open, creating selling pressure in the tech sector which closed as the second
weakest sector on Thursday. As we
mentioned Wednesday, AAPL, as a bellwether for the technology industry, NDX
and SPX continues as a key to either a short-term bounce or break of
support.
Mega caps NVDA, META rose
and TSLA, MSFT, AAPL, GOOGL, AMZN fell on Thursday.
SPY down 1.51 at 467.28 on 84.1 million
shares, above average volume, closed lower on lower volume.
VIX up .09 at 14.13
QQQ down 2.05 at 396.28
MRK, AMGN, AXP, JPM led the DJIA, 16 advancers, +7
CCL, EPAM, DG, PODD led the SPX, 248 advancers
MRVL, VRTX, DXCM, MELI led the NDX, 47 advancers.
The two-year trend term is sideways. The
one-year trend is up.
Up: DIA,
Down: IWM, SPY, QQQ,
Three of eleven sectors were higher on Thursday, led by XLV,
XLF and XLI.
The SPY
MFC green line is pointed down at 80.8 and is counter-trend 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 down.
3-month Intermediate Term Market
Trend: Up
3-day Short Term Market Trend: Down
47 of 100 NDX stocks
closed higher on Thursday.
60 NDX stocks are above their 30
DMA: LULU, DLTR, INTC, AEP, CRWD, CTAS, ROST, TMUS, DXCM, KDP, AMD,
HON, QCOM, KHC, COST, PCAR, PDD, WDAY, ZS, BKNG, MAR, IDXX, ISRG, CSX, CTSH, TXN,
XEL, MRNA, TEAM, REGN, AMGN, GILD, ILMN, BIIB, WBA, AVGO, MRVL, MU, ANSS,
FTNT, GEHC, SIRI, AZN, META, VRTX, CSCO, CCEP, SPLK,
TTWO, FANG, GOOG, GOOGL, MNST, ADP,
MDLZ, PEP, ADSK, NFLX, VRSK, WBD,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
ADSK, NFLX, VRSK, WBD,
Moving Below 30 DMA = 5
BKR, CMCSA, GFS, NXPI, ON,
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