SPX Makes another All-time Closing High as MU Leads SPX, NDX...Basic Materials, Technology, Communication Services Lead Sectors...After-hours: COST Down on Earnings Reaction...

© 2024

The SPX +23.11, 5,745, gapped up as futures rose overnight, filled the gap, made a new all-time closing high.  SPX closed above 5,700 for the sixth day.

The NDX +0.72% its highest close since July 16.

NVDA +0.53, +0.43%, opened higher, traded in a range and closed below its open but higher for the day.   

AVGO +2.57, +1.48%, continued to rally with semiconductor stocks, all-time high of 185.16.

After-hours: COST -9.80, -1.09%, after an EPS beat and a sales miss $79.697B vs $79.973B estimate.

PCE report expectation M/M 0.1%, Y/Y 2.3% consensus, Core PCE M/M 0.2%, Y/Y 2.7% consensus, on Friday 8:30 am ET.

PCE, Core PCE Trend as of July, released Aug 30, 2024

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

SPY up 2.26 at 572.30, 48.2 million shares, average volume

VIX down .04 at 15.37

QQQ up 3.65 at 489.47

DOW, CAT, MMM, AMGN led the DJIA, 20 advancers, +8

MU, JBL, EL, ALB, UAL led the SPX, 329 advancers

MU, PDD, AMAT, MCHP led the NDX, 69 advancers

Up:  QQQ, DIA, IWM, SPY,

Down:     

Eight of eleven sectors were higher on Thursday, led by XLB, XLK and XLC

The SPY MFC green line is flat at 93.0 and is short-term bullish. -0.7

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

Neutral sectors: 

Down trend sectors:  XLE,

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

69 of 100 NDX stocks closed higher on Thursday.

76 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, TTD, ADSK, NFLX, CSCO, MRVL, BKNG, MAR, MDB, MNST, AMZN, FAST, IDXX, LIN, PCAR, TSLA, AMD, ARM, MSFT, ADI, AVGO, CEG, CRWD, CDNS, META, PCAR, WBD, ABNB, QCOM, TXN, INTC, BKR, CMCSA, DDOG, TEAM, AAPL, ANSS, CPRT, GOOGL, HON, TMUS, TXN, AMAT, NVDA, ORLY, PDD, ROST, LRCX, MU, SBUX, ASML, CDW, CSX, CTSH, ILMN, KLAC, LULU, MCHP, NXPI, ON, QCOM, ROP, SNPS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 13

ASML, CDW, CSX, CTSH, ILMN, KLAC, LULU, MCHP, NXPI, ON, QCOM, ROP, SNPS,

Moving Below 30 DMA = 2

AEP, ODFL,

Add Comments here: