SPX Close Higher after Positive GOOGL, MSFT EPS Reactions and PCE Report...Communication Services, Technology, Consumer Discretionary Lead Sectors...NVDA Continues to Bounce...

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The SPX +51.54, 5,099, opened higher, after MSFT and GOOGL gapped UP on positive EPS reactions and the PCE report M/M 0.3% was inline and the Core PCE Y/Y was unchanged from the March report at 2.8% vs 2.7% above expected.  Again, the issue is not the inflation rate it is the expectation that is once again inaccurate with reality.  Some news services have reported the Core PCE remains elevated, more accurately stated would be, it is elevated at the lowest level in more than two years.  Core PCE in April of 2022 was 5.0%.

GOOGL +15.95, +10.22%, and MSFT +7.28, +1.82%, gapped up on positive EPS reactions.  

NVDA +51.03, +618%, 877.35, opened higher, trended up and closed at its highest leve in nine day in channel bounce continuation.

Next Week 175 SPX eps reports: Tuesday AMC – AMZN, Thursday AMC – AAPL   

Monday Q1 day 12 BMO: BEN, DPZ, ON, RVTY AMC: ACGL, EG, FFIV, NXPI, PARA, SBAC, WELL

First day reaction: Q1

Positive:  RMD, GOOGL, BALL, KLAC, TROW, MHK, LHX, WDC, LYB, CL, MSFT,  NEM, TYL, CARR, TER, CMG, URI, UNP, KDP, DOV, FTI, ROL, MRK, NOC, TSCO, LRCX, AAL, HES, GEV, MO, WM, TSLA, HAS, WAB, CSGP, BSX, TXN, SYF, BIIB, HLT, EQT, EQR, T, APH, IPG, GL, GE, DHR, KMB, DGX, PHM, FI, GM, PM, UPS, NEE, TFC, AXP, FITB, GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 76

Neutral:  CVX, COF, AVB, TMUS, EMN, JNPR, DOX, F, RCL, SPGI, PCG, CMS, VLO, DTE, UHS, XEL, HON, DOW, STX, AVY, TMO, V, ETR, ARE BRO, NVR, RTX, LMT, HAL, PNR, HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 38

Negative:  DXCM, INTC, FICO, AON, CINF, ABBV, VRSN, HIG, PSX, XOM, ROP, PFG, HCA, CNC, EW, RHI, CHTR, WY, AJG, FE, META, BMY, IBM, CAT, LUV, CMCSA, AOS, LH, WST, RJF, MOH, NOW, ORLY, WTW, IP, NDAQ, POOL, ALLE, GWW, ALGN, ODFL, TDY, FTV, ENPH, MAS, OTIS, GD, HUM, NSC, BG, IEX, STLD, BA, CB, TEL, CME, VLTO, BKR, LKQ, MSCI, NUE, IVZ, WRB, PKG, AMP, PEP, SHW, FCX, CDNS, VZ, NFLX, PPG, SLB, ISRG, LVS, EFX, SNA, BX, JBHT, TRV, PLD, ASML, USB, ABT, NTRS, BAC, JNJ, PNC, BK, JPM, BLK, C, KMX, FAST, DAL = 94

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

SPY up 4.77 at 508.26 on 64.3 million shares, below average volume,

VIX down .34 at 15.03

QQQ up 6.55 at 431.00

AMZN, MSFT, GS, CAT led the DJIA, 17 advancers, -7

RMD, GOOGL, SMCI, BALL, TER led the SPX, 259 advancers 

GOOGL, NVDA, DDOG, KLAC led the NDX, 68 advancers

Up:  QQQ, IWM, SPY, DIA,   

Down: 

Seven of eleven sectors were higher on Friday, led by XLC, XLK and XLY

The SPY MFC green line is pointed up at 34.6 and is short-term bullish.

Uptrend sectors:  XLE, XLC, XLU, XLI, XLB, XLF, XLP,

Neutral sectors:  XLY, XLV, XLK,

Down trend sectors:  XLRE,

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: Up a little

68 of 100 NDX stocks closed higher on Friday.

35 NDX stocks are above their 30 DMA:  CTAS, FANG, AZN, GOOGL, KHC, KDP, XEL, PEP, AEP, EXC, TMUS, CEG, MDLZ, PANW, PDD, DDOG, MDB, MRNA, ABNB, ADI, CCEP, MCHP, TXN, NXPI, TSLA, AVGO, BIIB, COST, CSGP, INTU, KLAC, MRVL, NVDA, PYPL, TTD,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 10

AVGO, BIIB, COST, CSGP, INTU, KLAC, MRVL, NVDA, PYPL, TTD,

Moving Below 30 DMA = 5

ADP, BKR, DXCM, PAYX, TEAM,

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