© 2024
The SPX +32.33 opened higher, traded in a 30-point range, formed a spinning
top and closed higher forming a bull flag bounce. The FOMC will meet starting Tuesday and will
announce on Wednesday at 2 pm ET, its interest rate decision. Expectation is the Fed will hold rates at its
current 5 ¼ - 5 ½% range.
NVDA 6.18, +0.70%, 884.55, opened higher, traded in a range
and closed near the high of the low day.
AMAT, MU and SMH closed slightly higher.
Mega caps TSLA, GOOGL, META, NVDA,
AAPL, MSFT, AMZN rose on Monday.
SPY up 3.03 at 512.86, on 88.5 million
shares, above average volume, closed higher on higher volume
VIX down .08 at 14.33
QQQ up 3.56 at 437.48
CRM, DIS, CAT, JPM led the DJIA, 17 advancers, +10
TSLA, MTCH, ANET, CMI, PEP led the SPX, 304 advancers
TSLA, GOOGL, ADBE, PDD led the NDX, 72 advancers
Up: QQQ, SPY, DIA,
Down: IWM,
XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV,
XLY went ex-div today Monday,
March 18, 2024.
Nine of eleven sectors were up on Monday, led by XLC, XLY and
XLP
The SPY
MFC green line turned up at 87.4 and is short-term bullish.
Uptrend sectors: XLF, XLI,
XLE, XLB, XLP, XLC, XLK, XLY, XLV,
Neutral sectors: XLRE, XLU,
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 Trend: Down a little
72 of 100 NDX stocks
closed higher on Monday.
48 NDX stocks are above their 30
DMA: CTAS,
META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY,
AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, GEHC, QCOM, FANG, AEP, CCEP, EXC,
AMD, CPRT, MU, CSGP, MNST, BKR, TXN, AZN, DXCM, MCHP, MRNA, GILD, CMCSA,
PYPL, LULU, MSFT, GOOGL, ISRG, ANSS, CHTR, CRWD, CSCO, LRCX, MAR, PDD,
PEP,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 8
ANSS, CHTR, CRWD, CSCO, LRCX, MAR, PDD, PEP,
Moving Below 30 DMA = 4
ADI, HON, REGN, ROP,
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