SPX, NDX Close Lower on NVDA and Mega-Cap Weakness...Real Estate, Utilities Lead Sectors...After-hours: TSLA up, IBM down...

 

© 2024

The SPX -53.78, 5,797, opened lower, trended down, rallied from its intraday low and closed lower.  The SPX closed below 5,800 for the first time in eight days. 

The NDX -1.55%, opened lower, trended down, closed lower.

NVDA -4.03, -2.81%, opened lower, trended down, closed lower.

After-hours: TSLA +25.85, +12.10% and IBM -5.80, -2.49% earnings reactions.

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

SPY down 5.33 at 577.99, 49.3 million shares, average volume,

VIX up 1.04 at 19.24

QQQ down 7.60 at 488.36

VZ, WMT, JNJ, IBM led the DJIA, 4 advancers, -3                  

NTRS, TDY, PKG, SW led the SPX, 180 advancers

TXN, BKR, ON, NXPI led the NDX, 19 advancers

Up:  

Down:  IWM, SPY, DIA, QQQ,

Two of eleven sectors were higher on Wednesday, led by XLRE, XLU and XLF.

The SPY MFC green line turned down at 91.9 and is counter-trend defensive, -2.2, because price is below the low of the high day, Oct. 14.

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

Neutral sectors: XLE,

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

19 of 100 NDX stocks closed higher on Wednesday.

53 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, TTD, ADSK, CSCO, BKNG, MAR, FAST, CEG, CRWD, PCAR, ABNB, DDOG, TMUS, ORLY, MU, ADP, ILMN, MRVL, NVDA, LULU, TEAM, SMCI, AAPL, HON, PANW, ZS, TTWO, MNST, EXC, LIN, PEP, ROP, EA, DXCM, ISRG, NFLX, SBUX, CHTR, CMCSA, MSFT, BKR, COST, NXPI, XEL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

BKR, COST, NXPI, XEL,

Moving Below 30 DMA = 15

AMZN, ANSS, ARM, AVGO, CSGP, FANG, GOOGL, INTC, MELI, META, ODFL, PDD, QCOM, VRTX, WDAY,

Add Comments here: