SPX All-time Closing High...NVDA Closes Above $900...Communication Services, Technology Lead Sectors...After-hours: COST, AVGO Lower on Negative Earnings Reactions...

 

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The SPX +52.60 made another all-time closing high at 5,157.36.  The SPX opened higher, trended higher during Powell’s report to the Senate and closed higher. Fed Chair Jerome Powell said today, “the economy is growing at a healthy, sustainable, solid, strong pace.”  He also indicated that the Fed was near a confidence level on inflation to be able to reduce rates for the current restrictive level.

CRWD +0.11, +0.03% is forming an earnings flag setup.

NVDA +39.69, +4.47%, 926.69, closed higher and made another new all-time closing high

After-hours:  AVGO -46.01, -3.27%, COST -31.89, -4.06% fell on negative earnings reactions.

Jobs Report, Friday 8:30 am ET.

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

SPY up 5.06 at 514.81 on 58.6 million shares, below average volume, closed higher on lower volume 

VIX down .06 at 14.44

QQQ up 6.66 at 445.45

INTC, AXP, AMZN, MSFT led the DJIA, 16 advancers, +0

KR, EW, POSS, RMD led the SPX, 366 advancers 

ON, MCHP, QCOM, MRVL, NVDA led the NDX, 75 advancers

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

Up:  QQQ, SPY, IWM, DIA,

Down: 

Nine of eleven sectors were up and one was unchanged on Thursday, led by XLC, XLK and XLB

The SPY MFC green line turned up at 90.8 and is short-term bullish.

Uptrend sectors:  XLI, XLF, XLY, XLB, XLV, XLP, XLK, XLC, XLRE,

Neutral sectors:  XLE, XLU,

Down trend sectors: 

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 Trend: Up a little

75 of 100 NDX stocks closed higher on Thursday.

59 NDX stocks are above their 30 DMA:  CTAS, ROST, COST, ISRG, REGN, AVGO, META, SPLK, NVDA, AMZN, DASH, LRCX, NFLX, CDNS, ORLY, AMAT, ASML, CDW, FAST, KLAC, PCAR, ABNB, SNPS, CEG, CSX, DLTR, ODFL, IDXX, NXPI, GEHC, ON, QCOM, TTD, FANG, AEP, MAR, CCEP, EXC, TMUS, AMD, CPRT, FTNT, MU, CSGP, MNST, BKR, MRVL, TXN, AZN, DXCM, MCHP, MRNA, ADI, ANSS, CRWD, HON, INTC, MSFT,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

MSFT,

Moving Below 30 DMA = 1  

INTU,

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