Friday, October 18, 2024

SPX, NDX Make New All-time Closing High...Communication Services, Real Estate, Utilities Lead Sectors...NFLX, ISRG Rise on Positive EPS Reactions...


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The SPX +23.20, 5,864, opened higher, traded in a range and closed at a new all-time closing high.  The SPX closed above 5,800 for the fifth time.  The DJI made a new all-time closing high.

The NDX +0.66%, opened higher, closed higher in a bull flag bounce.

NVDA +1.07, +0.78%, opened higher, trade in a range and closed higher in a bull flag bounce continuation.


Positive earnings reactions: NFLX +76.24, +11.09% and ISRG +47.42, +10.01%.

First day reaction: Q3, Friday
PositiveNFLX, ISRG, SNA, TRV, BX, MTB, STLD, DFS, PPG, UAL, SYF, USB, PLD, JBHT, ABT, OMC, WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 24
Neutral:  PG, RF, MMC, KMI, STT, BAC, PGR, UNH = 8
Negative:  SLB, AXP, FITB, ELV, CSX, TFC, CCI, EFX, HBAN, KEY, CFG, BK, DAL, DPZ = 14


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


SPY up 2.24 at 584.59, 37.4 million shares, below average volume,
VIX down 1.08 at 18.03
QQQ up 3.22 at 494.47

INTC, AAPL, HON, AMZN led the DJIA, 20 advancers, +3   
NFLX, LW, ISRG, POSS, CSX, VST led the SPX, 321 advancers
NFLX, ISRG, DXCM, ASML led the NDX, 71 advancers

Up:   QQQ, SPY, DIA,
Down:  IWM,

Ten of eleven sectors were higher on Friday, led by XLC, XLRE and XLU.

The SPY MFC green line is pointed down at 93.6 and is short-term bullish, -0.3, because price is above 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 TrendUp a little


71 of 100 NDX stocks closed higher on Friday.

70 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, GEHC, TTD, ADSK, CSCO, BKNG, MAR, FAST, ARM, AVGO, CEG, CRWD, META, PCAR, ABNB, INTC, BKR, CMCSA, DDOG, CPRT, GOOGL, TMUS, ORLY, PDD, MU, SNPS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, SMCI, AAPL, ANSS, HON, PANW, ZS, AMZN, ODFL, QCOM, TTWO, MNST, VRTX, EXC, GFS, LIN, PEP, ROP, CSGP, CTSH, EA, ADI, DXCM, FANG, MELI, ROST, SNPS, ISRG, NFLX, SBUX, XEL,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
ISRG, NFLX, SBUX, XEL,


Moving Below 30 DMA = 0



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