SPX Gaps Up after Inline PCE Inflation Report, Reverses Down on Rapid Selloff, Afternoon Rally Bounces to Higher Close...Energy, Real Estate, Utilities Lead All Sectors Higher...

© 2024

The SPX +42.03, 5,277, gapped up after the PCE inflation report was inline with consensus estimate at Y/Y Core at 2.8%, reversed and sold off 64 points after a 9:45 am Chicago PMI report came in weaker-than-expected.  The SPX bottomed out at midday and rallied 86 points to close higher. The NDX formed a long-tailed hammer and closed -0.01%.

NVDA -8.67, -0.78%, 1,096.33, opened higher, reversed, sold off with the broad market and rallied during an afternoon rally into the close. 10 for 1 split to take effect on June 7.

This week’s SPX earnings A, CRM, HPQ, BBY, HRL, DG. ULTA, COO, COST, NTAP.  Five up, five down.

Next week’s SPX earnings include: BBWI, HPE CPB, DLTR, BF/B, LULU, SJM

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

SPY up 4.76 at 527.37 on 90.7 million shares, above average volume.

VIX down 1.55 at 12.92

QQQ down .84 at 450.71

CRM, UNH, BA, MCD led the DJIA, 28 advancers, +6

CZR, DG, CVS, ELV led the SPX, 425 advancers 

ZS, WBA, CHTR, ILMN led the NDX, 65 advancers

Up:  DIA, SPY, IWM,

Down:  QQQ,

All eleven sectors were higher on Friday, led by XLE, XLRE and XLU. 

The SPY MFC green line turned up at 84.6 and is short-term bullish.

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

Neutral sectors:  XLY, XLV, XLRE,

Down trend sectors: 

The 6-month intermediate trend is up.  The ten-day trend is down a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

65 of 100 NDX stocks closed higher on Friday.

55 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, PDD, MRNA, MCHP, TXN, NXPI, TSLA, COST, AMGN, TTD, VRSK, AAPL, ADI, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, MSFT, CHTR, MU, TSLA, AMD, BKR, TMUS, TTWO, EA, LRCX, CDW, ROST, BIIB, HON, WBD, AEP, BKR, CCEP, CMCSA, LIN, META, ROP, SBUX, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 9

AEP, BKR, CCEP, CMCSA, LIN, META, ROP, SBUX, XEL,

Moving Below 30 DMA = 2

AVGO, MRVL,

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SPX Closes Lower...Real Estate, Utilities, Basic Materials...PCE Inflation Report Friday BMO

© 2024

The SPX -31.47, 5,235, gapped down as futures fell overnight and traded in a range closing slightly higher than its open but below Tuesday’s low.  Breadth strengthened.  The NDX closed -0.70%.  

PCE Inflation Report Friday, BMO.

NVDA -43.25, -3.77%, 1,105.00, opened slightly lower, trended lower and closed lower.  10 for 1 split to take effect on June 7.

After-hours earnings reactions: ZS, +25.15, +16.05%, DELL -30.22, -17.78%,

COST -14.24, -1.75% 

This week’s SPX earnings include A, CRM, HPQ, BBY, HRL, DG. ULTA, COO, COST, NTAP.

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

SPY down 3.49 at 522.61 on 46.4 million shares, below average volume.

VIX up .19 at 14.47

QQQ down 4.89 at 451.55

VZ, HON, NKE, AMGN led the DJIA, 22 advancers, +19

HPQ, BBY, CVS, BBWI led the SPX, 361 advancers 

WBD, WBA, BIIB, CMCSA led the NDX, 58 advancers

Up:  IWM,

Down:  SPY, DIA, QQQ,

Nine of eleven sectors were higher on Thursday, led by XLRE, XLU and XLB. 

The SPY MFC green line is pointed down for a sixth day at 83.9 and is counter-trend defensive.

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

Neutral sectors:  XLY, XLV, XLRE,

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

58 of 100 NDX stocks closed higher on Thursday.

48 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, PDD, MRNA, MCHP, TXN, NXPI, TSLA, COST, AMGN, TTD, VRSK, AAPL, ADI, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, AVGO, ISRG, MSFT, CHTR, MU, TSLA, AMD, BKR, MRVL, TMUS, TTWO, EA, LRCX, CDW, ROST, BIIB, HON, WBD,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

BIIB, HON, WBD,

Moving Below 30 DMA = 4

CRWD, META, PANW, ROP,

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SPX, NDX Close Lower...All Sectors Close Lower as Breadth Turns Negative...NVDA All-time High...CRM, A Lower after Earnings...

© 2024

The SPX -39.09, 5,266, gapped down as futures fell overnight and traded in a range closing slightly higher than its open but below Tuesday’s low.  The NDX closed -0.70%.

NVDA +9.24, +0.81%, 1,148.25, opened lower found support after about 15 minutes, rallied back to even before closing at a new all-time high.  10 for 1 split to take effect on June 7.

After-hours earnings reactions: HPQ, +0.70, +2.14%, CRM -43.52, -16.02%,

A -19.50, -13.40% 

This week’s SPX earnings include A, CRM, HPQ, BBY, HRL, DG. ULTA, COO, COST, NTAP.

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

SPY down 3.71 at 526.10 on 45.1 million shares, below average volume.

VIX up 1.36 at 14.28

QQQ down 3.24 at 456.44

CRM, AAPL, JNJ led the DJIA, 3 advancers, -7

MRO, UHS, UAL, UBER led the SPX, 55 advancers 

TTWO, LULU, ROST, PDD led the NDX, 18 advancers

Up: 

Down:  SPY, QQQ, DIA, IWM,

All eleven sectors were lower on Wednesday, with XLC, XLK and XLY down the least. 

The SPY MFC green line is pointed down for a fifth day at 88.3 and is counter-trend defensive.

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

Neutral sectors:  XLY, XLV, XLRE,

Down trend sectors: 

The 6-month intermediate trend is up.  The ten-day trend is up a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

18 of 100 NDX stocks closed higher on Wednesday.

49 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, PANW, PDD, MRNA, MCHP, TXN, NXPI, TSLA, COST, AMGN, TTD, VRSK, AAPL, ADI, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, AVGO, ISRG, MSFT, CHTR, MU, TSLA, AMD, BKR, MRVL, ROP, TMUS, TTWO, EA, LRCX, CDW, META, ROST,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 6

AEP, ANSS, BIIB, CCEP, HON, IDXX,

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SPX Trading Range...Energy, Technology, Communication Services Lead Sectors...NVDA Continues to Soar Post EPS...

© 2024

The SPX +1.32, 5,306, opened slightly higher, traded in a choppy range with three Fed speakers on today.  The SPX formed a hammer and finished in an eight-day sideways consolidation.  The NDX made another new all-time closing high.

NVDA +74.32, +6.98%, 1,139.01, continued to soar after Thursday’s post blow away earnings breakout, closing above $1,100 for the first time.  The current high price target is $1,400 by Rosenblatt.  Declared a 10 for 1 split to take effect on June 7.

After-hours: HOOD, +0.82, +4.01%, AAL -0.84, -6.25%,

This week’s SPX earnings include: A, CRM, HPQ, BBY, HRL, DG. ULTA, COO, COST, NTAP

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

SPY up .37 at 529.81 on 36.2 million shares, below average volume.

VIX up .99 at 12.92

QQQ up 1.73 at 459.68

HD, INTC, CVX, AMZN led the DJIA, 10 advancers, -9

NVDA, RL, DECK, FCX, VST led the SPX, 132 advancers 

NVDA, ASML, AMD, MU led the NDX, 43 advancers

Up:  QQQ, SPY,

Down:  IWM, DIA,

Three of eleven sectors were higher on Tuesday, led by XLE, XLK and XLC. The SPY MFC green line is pointed down at 91.8 and is counter-trend defensive.

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

Neutral sectors:  XLY, XLV, XLRE,

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: Sideways

43 of 100 NDX stocks closed higher on Tuesday.

55 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, AEP, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, KLAC, NVDA, FANG, HON, NFLX, SNPS, VRTX, AVGO, IDXX, ISRG, MSFT, CHTR, MU, TSLA, AMD, BKR, MRVL, ROP, TMUS, TTWO, EA, LRCX, CDW, ANSS, META, ROST,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

ADP, CTAS, CTSH, DDOG, GFS, PAYX, PEP,

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SPX Closes Higher...NDX New All-time Closing High...Communication Services, Consumer Discretionary, Utilities Lead Sectors...

© 2024  

Markets are closed on Monday for the Memorial Day holiday.  Enjoy the 3-day weekend with your loved ones, Be safe. Relax. Be amazing.

We express gratitude on this Memorial Day weekend to all individuals’ and their families who’s sacrifice of life and time have contributed to the establishment and preservation of the God given liberties and freedoms we enjoy in America.  Thank You!!!

The SPX +36.88, 5,304, gapped up 13 points on the open, trended higher and closed higher, in contrast to Thursday’s higher open and reversal pullback.  The SPX formed a white candle that neutralized in part Thursday’s bearish engulfing pattern.  The NDX made a new all-time closing high.

NVDA +26.70, +2.57%, 1,064.69, continued Thursday’s post blow away earnings breakout, closing above $1,000 for a second day in a row.  Declared a 10 for 1 split to take effect on June 7.

Both WDAY -55.27, -8.35%, the NDX’s largest decliner and INTU -55.27, -8.35%, the SPX’s largest decliner gapped down on a negative earnings reaction.

This week’s SPX earnings include PANW, NDSN, LOW, AZO, TGT, ADI, TJX, SNPS, NVDA, MDT, RL, DECK, INTU, ROST = Seven positive reactions, seven negative reactions

Next week’s SPX earnings include A, CRM, HPQ, BBY, HRL, DG. ULTA, COO, COST, NTAP.

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

SPY up 3.48 at 529.44 on 41.2 million shares, below average volume.

VIX. down .84 at 11.93

QQQ up 4.29 at 457.95

INTC, JPM, AAPL, DOW led the DJIA, 19 advancers, +19

DECK, FSLR, GEV, ENPH led the SPX, 354 advancers 

ROST, CEG, QCOM, AMD led the NDX, 75 advancers

Up:  IWM, QQQ, SPY,

Down:  DIA,

Nine of eleven sectors were higher on Friday, led by XLC, XLY and XLU. 

The SPY MFC green line is pointed down at 92.7 and is counter-trend defensive.

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

Neutral sectors:  XLY, XLV, XLRE,

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: Down a little

75 of 100 NDX stocks closed higher on Friday.

62 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, PEP, AEP, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, CTAS, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, ADP, IDXX, ISRG, MSFT, PAYX, CHTR, MU, TSLA, AMD, BKR, CTSH, MRVL, ROP, TMUS, TTWO, EA, LRCX, CDW, ANSS, DDOG, META, ROST,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

DDOG, META, ROST,

Moving Below 30 DMA = 3

ADBE, INTU, WDAY,

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SPX Gap Up, Reverse, Fill the Gap, Close Lower...NVDA Beats Expectations...All Sectors Lower...After-hours DECK, ROST Up, INTU Down...

© 2024

The SPX -39.17, 5,267, gapped up 33 points on the open, immediately reversed and started selling off.  Within 24 minutes the SPX filled the gap and consolidated near Wednesday’s close for the next three hours before breaking support and falling another 40 points.  The SPX formed a bearish engulfing pattern.

NVDA +88.49, +9.32%, 1,037.99, gapped up after a better-than-expected earnings beat, and traded as high as 1,063.  NVDA’s earnings beat on eps 6.12 vs. 5.59 estimate and revenues $26.04B vs. $24.64 estimate, raised guidance, raised its dividend to 10 cents (1 cent post-split) and declared a 10 for 1 split to take effect on June 7.

After-hours: DECK, +73.35, +8.11%, ROST +10.48, +7.95%, INTU -42.75, -6.46%, each reporting earnings after the close.

This week’s SPX earnings include PANW, NDSN, LOW, AZO, TGT, ADI, TJX, SNPS, NVDA, MDT, RL, DECK, INTU, ROST

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

SPY down 3.87 at 525.96 on 57.2 million shares, average volume.

VIX up .48 at 12.77

QQQ down 2.05 at 453.66

MRK, CVX, V WMT led the DJIA, 0 advancers, -12

NVDA, IP, RL, GE, PWR led the SPX, 54 advancers 

NVDA, PDD, SNPS, MRVL led the NDX, 18 advancers

Up: 

Down:  QQQ, SPY, DIA, IWM,

All eleven sectors were lower on Thursday, the weakest were XLY, XLU and XLRE. 

The SPY MFC green line is pointed down at 93.4 and is counter-trend defensive.

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

Neutral sectors:  XLY, XLV, XLRE,

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: Down

18 of 100 NDX stocks closed higher on Thursday.

62 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, PEP, AEP, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, ADP, IDXX, ISRG, MSFT, PAYX, CHTR, MU, TSLA, ADBE, AMD, BKR, CTSH, MRVL, ROP, TMUS, TTWO, WDAY, EA, LRCX, CDW, ANSS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

ANSS,   

Moving Below 30 DMA = 7

ADSK, AMZN, EXC, GILD, MDB, MDLZ, XEL,

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