NDX, SPX Close Higher on Strong Breadth in Mega Caps and Technology...Consumer Discretionary, Industrials Lead All Sectors Higher on Election Day...After-hours: SMCI Lower after Preliminary EPS...

© 2024

The SPX +70.07, 5,782, opened higher, trended up and closed higher.  Breadth strengthened significantly in consumer discretionary, technology and communication services along with a drop in VIX.

The NDX +1.32% trading range, lower close.

Question:  Did you expect today’s election day market to rally like it did?  We asked the same question to iBullyBear members, and all responded, NO.  Before today, I heard no one forecast a big rally on election day.  Put all the talking heads from financial TV together and they still can’t see the future.  Stop trying to guess the future and Trade what you see!

PLTR +9.72, +23.47% after EPS and revenue beat and raised guidance.

CE -32.50, -26.32%. EPS and revenue miss and lower dividend.

NXPI -12.25, -5.17%. EPS beat, revenue in-line and lower guidance.

After-hours: SMCI -4.09, -14.80%. releases preliminary guidance on revenues < previous guidance and eps > previous guidance, that its independent special committee has found no evidence of fraud or misconduct, but still unsure of when its annual report will be filed.

102 SPX Companies report EPS this week.

SPX companies reporting on Wednesday. 11 BMO: AEP, COR, CRL, CVS, HWM, IRM, JCI, MKTX, PNW, SRE, TRMB. 17 AMC:  AEE, ALB, ANSS, APA, ATO, CTVA, FICO, GILD, HST, MCK, MRO, MTCH, PTC, QCOM, STE, TTWO, WMB.

First day reaction: Q3, Tuesday, (excludes Oct 22 and 23)

Positive: PLTR, CMI, EMR, VRTX, BLDR, TRGP, DD, BR, AVB, MPC, IT, YUM, EXPD, RVTY, FOXA, WAT, CHTR, INTC, CAH, AMZN, CHD, CVX, TROW, PAYC, ETR, IP, AME, GEN, MO, COP, NCLH, XEL, BMY, BKNG, CMCSA, GDDY, WTW, SO, AWK, PH, AMGN, CLX, GRMN, SW, FMC, TECH, DAY, IEX, VMC, ABBV, ZBH, VRSK, GPN, MLM, EQT, HUM, ITW, V, GOOGL, EA, GEHC, NI, ADP, SYK, CDNS, INCY, FFIV, LDOS, ZBRA, WM, WELL, GLW, RCL, BRO, CNP, ON, DECK, DLR, RMD COF, AON, WDC, CNC, LHX CINF, TSLA, MOH, WST, CBRE, POOL, RJF, TMUS, NOW, UPS, LRCX, TYL, LH, ALGN, LVS, FTI, NOC, NFLX, ISRG, SNA, TRV, BX, MTB, STLD, DFS, PPG, UAL, SYF, USB, PLD, JBHT, ABT, OMC, WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 112

Neutral:  O, FIS, JNPR, LYB, SPG, D, GWW, CI, SBUX, CTSH, GNRC, BWA, EQIX, K, WEC, MAA, CMS, MDLZ, OKE, EXC, EIX, HES, EXR, TEL, REG. MAS, MCD, ORLY, DTE, LKQ, DOW, PG, RF, MMC, KMI, STT, BAC, PGR, UNH = 39

Negative:  CE, WYNN, ADM, HOLX, NXPI, HSIC FANG, ES, AIG, CEG, PEG, ZTS, L, BEN, MAR, AES, AMCR, ERIE, CTRA, EMN, LNT, PPL, IR, CPT, CBOE, XOM, AAPL, VICI,  HII, EL, APTV, TFX, SMCI, MGM, IDXX, UBER, REGN, EBAY, BALL, XYL, EG, ICE, ACGL, MSFT CHRW, MET, INVH, DINO, EQR, AFL, IQV, META, KLAC, LIN, PRU, ETN, PWR, UDR, FRT, MA, MRK, PSA, ALL, VTR, KIM, QRVO, CDW, DVA, AMD, CZR, CMG, LLY, BXP, TT, FTV, KHC, OTIS, RSG, BG, CAT, FE, ESS, BIIB, CB, FSLR, SWK, F, DHI, PSX, AMT, PYPL, SBAC, MSCI, HUBB, PFE, SYY, ECL, MHK, UHS, HCA, HIG, PFG, CL, DOC, VRSN, DXCM, AJG, EW, WY, NEM, TER, CARR, ROL, TXT, IBM, TSCO, HAS, LUV, HON, KDP, VLTO, UNP, ALLE, DOV, AMP, GL, VLO, URI, SLB, AXP, FITB, ELV, CSX, TFC, CCI, EFX, HBAN, KEY, CFG, BK, DAL, DPZ = 143

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

SPY up 6.89 at 576.70, 39.0 million shares, below average volume,

VIX down 1.49 at 20.49

QQQ up 6.20 at 492.21

INTC, GS, AXP, AMZN led the DJIA, 25 advancers, +17       

PLTR, CMI, EMR, GEV led the SPX, 443 advancers

GFS, SMCI, VRTX, MU led the NDX, 86 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

The SPY MFC green line is pointed down at 39.4 and is bearish, -5.6.

All eleven sectors were higher on Tuesday, led by XLY, XLI and XLU. 

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 down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

86 of 100 NDX stocks closed higher on Tuesday.

55 NDX stocks are above their 30 DMA:  GILD, PAYX, DASH, TTD, ADSK, CSCO, BKNG, FAST, ABNB, DDOG, TMUS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, PANW, TTWO, MNST, EA, ISRG, NFLX, SBUX, CMCSA, BKR, TSLA, GOOGL, ODFL, CDNS, SNPS, CHTR, VRSK, VRTX, WBD, XEL, AMZN, ANSS, CRWD, INTU, MELI, ZS, PCAR, AEP, CCEP, COST, CSGP, CSX, CTAS, GFS, INTC, MAR, MDB, MU, WDAY,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 12

AEP, CCEP, COST, CSGP, CSX, CTAS, GFS, INTC, MAR, MDB, MU, WDAY,

Moving Below 30 DMA = 1

TXN,

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SPX, NDX Close Slightly Lower...Energy, Real Estate, Basic Matierials Lead Sectors...After-hours: PLTR up, NXPI, CE down...

© 2024

The SPX -16.11, 5,712, opened lower, trading range and closed lower.  Breadth weakened in technology, communication services and consumer discretionary, along with a slight increase in VIX.

The NDX -0.35% trading range, lower close.

After-hours: PLTR +5.67, +13.69% after EPS and revenue beat and raised guidance, NXPI -13.77, -5.81%. EPS beat, revenue in-line and lower guidance,    

CE -19.50, -15.79%. EPS and revenue miss and lower dividend.

102 SPX Companies report EPS this week.

SPX companies reporting on Tuesday. 12 BMO: ADM, BLDR, BR, CMI, DD, EMR, EXPD, HSIC, IT, MPC, TRGP, YUM. 6 AMC:  AIZ, DVN, IFF, JKHY, MCHP, SMCI.

First day reaction: Q3, Monday, (excludes Oct 22 and 23)

Positive: RVTY, FOXA, WAT, CHTR, INTC, CAH, AMZN, CHD, CVX, TROW, PAYC, ETR, IP, AME, GEN, MO, COP, NCLH, XEL, BMY, BKNG, CMCSA, GDDY, WTW, SO, AWK, PH, AMGN, CLX, GRMN, SW, FMC, TECH, DAY, IEX, VMC, ABBV, ZBH, VRSK, GPN, MLM, EQT, HUM, ITW, V, GOOGL, EA, GEHC, NI, ADP, SYK, CDNS, INCY, FFIV, LDOS, ZBRA, WM, WELL, GLW, RCL, BRO, CNP, ON, DECK, DLR, RMD COF, AON, WDC, CNC, LHX CINF, TSLA, MOH, WST, CBRE, POOL, RJF, TMUS, NOW, UPS, LRCX, TYL, LH, ALGN, LVS, FTI, NOC, NFLX, ISRG, SNA, TRV, BX, MTB, STLD, DFS, PPG, UAL, SYF, USB, PLD, JBHT, ABT, OMC, WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 112

Neutral:  FIS, JNPR, LYB, SPG, D, GWW, CI, SBUX, CTSH, GNRC, BWA, EQIX, K, WEC, MAA, CMS, MDLZ, OKE, EXC, EIX, HES, EXR, TEL, REG. MAS, MCD, ORLY, DTE, LKQ, DOW, PG, RF, MMC, KMI, STT, BAC, PGR, UNH = 38

Negative:  CEG, PEG, ZTS, L, BEN, MAR, AES, AMCR, ERIE, CTRA, EMN, LNT, PPL, IR, CPT, CBOE, XOM, AAPL, VICI,  HII, EL, APTV, TFX, SMCI, MGM, IDXX, UBER, REGN, EBAY, BALL, XYL, EG, ICE, ACGL, MSFT CHRW, MET, INVH, DINO, EQR, AFL, IQV, META, KLAC, LIN, PRU, ETN, PWR, UDR, FRT, MA, MRK, PSA, ALL, VTR, KIM, QRVO, CDW, DVA, AMD, CZR, CMG, LLY, BXP, TT, FTV, KHC, OTIS, RSG, BG, CAT, FE, ESS, BIIB, CB, FSLR, SWK, F, DHI, PSX, AMT, PYPL, SBAC, MSCI, HUBB, PFE, SYY, ECL, MHK, UHS, HCA, HIG, PFG, CL, DOC, VRSN, DXCM, AJG, EW, WY, NEM, TER, CARR, ROL, TXT, IBM, TSCO, HAS, LUV, HON, KDP, VLTO, UNP, ALLE, DOV, AMP, GL, VLO, URI, SLB, AXP, FITB, ELV, CSX, TFC, CCI, EFX, HBAN, KEY, CFG, BK, DAL, DPZ = 133

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

SPY down 1.23 at 569.81, 38.1 million shares, below average volume,

VIX up .10 at 21.98

QQQ down 1.42 at 486.01

CRM, HD, CSCO, CVX led the DJIA, 8 advancers, -11          

BBWI, MOS, ENPH, SHW led the SPX, 273 advancers

MNST, CDNS, CHTR, ILMN led the NDX, 48 advancers

Up:  IWM,

Down:  SPY, QQQ, DIA,

The SPY MFC green line is pointed down at 45.0 and is bearish, -11.6.

Four of eleven sectors were higher on Monday, led by XLE, XLRE and XLB. 

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 down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

48 of 100 NDX stocks closed higher on Monday.

44 NDX stocks are above their 30 DMA:  GILD, PAYX, DASH, TTD, ADSK, CSCO, BKNG, FAST, ABNB, DDOG, TMUS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, PANW, TTWO, MNST, EA, ISRG, NFLX, SBUX, CMCSA, BKR, TSLA, GOOGL, ODFL, CDNS, SNPS, CHTR, VRSK, VRTX, WBD, XEL, AMZN, ANSS, CRWD, INTU, MELI, TXN, ZS, PCAR,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

PCAR,

Moving Below 30 DMA = 5

DXCM, INTC, MAR, NXPI, ON,

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SPX, NDX Close Higher...Consumer Discretionary, Technology, Health Care Lead Sectors...After-hours: NVDA to be added to DJIA...

© 2024

The SPX +23.35, 5,728, opened higher, rallied, reversed and closed higher and below the high of the day.  Breadth was mixed with strength in consumer discretionary, technology and communication services along with a decrease in VIX.

The NDX +0.72% opened higher and closed higher. The NDX remains below its July 10 all-time high.

After-hours: NVDA +3.94, +2.91% gained after it was announced that NVDA will be added to the DJIA and INTC will be removed.

102 SPX Companies report EPS next week.

SPX companies reporting on Monday. 9 BMO: BEN, CEG, FIS, FOXA, L, MAR, PEG, RVTY, ZTS. 11 AMC:  AIG, AVB, CE, ES, FANG, HOLX, NXPI, O, PLTR, VRTX, WYNN,

First day reaction: Q3, Friday, (excludes Oct 22 and 23)

Positive: WAT, CHTR, INTC, CAH, AMZN, CHD, CVX, TROW, PAYC, ETR, IP, AME, GEN, MO, COP, NCLH, XEL, BMY, BKNG, CMCSA, GDDY, WTW, SO, AWK, PH, AMGN, CLX, GRMN, SW, FMC, TECH, DAY, IEX, VMC, ABBV, ZBH, VRSK, GPN, MLM, EQT, HUM, ITW, V, GOOGL, EA, GEHC, NI, ADP, SYK, CDNS, INCY, FFIV, LDOS, ZBRA, WM, WELL, GLW, RCL, BRO, CNP, ON, DECK, DLR, RMD COF, AON, WDC, CNC, LHX CINF, TSLA, MOH, WST, CBRE, POOL, RJF, TMUS, NOW, UPS, LRCX, TYL, LH, ALGN, LVS, FTI, NOC, NFLX, ISRG, SNA, TRV, BX, MTB, STLD, DFS, PPG, UAL, SYF, USB, PLD, JBHT, ABT, OMC, WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 110

Neutral:  JNPR, LYB, SPG, D, GWW, CI, SBUX, CTSH, GNRC, BWA, EQIX, K, WEC, MAA, CMS, MDLZ, OKE, EXC, EIX, HES, EXR, TEL, REG. MAS, MCD, ORLY, DTE, LKQ, DOW, PG, RF, MMC, KMI, STT, BAC, PGR, UNH = 37

Negative:  AES, AMCR, ERIE, CTRA, EMN, LNT, PPL, IR, CPT, CBOE, XOM, AAPL, VICI,  HII, EL, APTV, TFX, SMCI, MGM, IDXX, UBER, REGN, EBAY, BALL, XYL, EG, ICE, ACGL, MSFT CHRW, MET, INVH, DINO, EQR, AFL, IQV, META, KLAC, LIN, PRU, ETN, PWR, UDR, FRT, MA, MRK, PSA, ALL, VTR, KIM, QRVO, CDW, DVA, AMD, CZR, CMG, LLY, BXP, TT, FTV, KHC, OTIS, RSG, BG, CAT, FE, ESS, BIIB, CB, FSLR, SWK, F, DHI, PSX, AMT, PYPL, SBAC, MSCI, HUBB, PFE, SYY, ECL, MHK, UHS, HCA, HIG, PFG, CL, DOC, VRSN, DXCM, AJG, EW, WY, NEM, TER, CARR, ROL, TXT, IBM, TSCO, HAS, LUV, HON, KDP, VLTO, UNP, ALLE, DOV, AMP, GL, VLO, URI, SLB, AXP, FITB, ELV, CSX, TFC, CCI, EFX, HBAN, KEY, CFG, BK, DAL, DPZ = 127

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

SPY up 2.40 at 571.04, 45.6 million shares, average volume,

VIX down 1.28 at 21.88

QQQ up 3.58 at 487.43

INTC, AMZN, BA, CVX led the DJIA, 19 advancers, +6         

WAT, CAH, AMZN, DAY, DELL led the SPX, 246 advancers

TEAM, CHTR, LULU, INTC led the NDX, 65 advancers

Up:  QQQ, DIA, IWM, SPY,

Down: 

The SPY MFC green line is pointed down at 56.6 and is defensive, -9.1.

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

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 down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

65 of 100 NDX stocks closed higher on Friday.

48 NDX stocks are above their 30 DMA:  GILD, PAYX, DASH, TTD, ADSK, CSCO, BKNG, MAR, FAST, ABNB, DDOG, TMUS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, PANW, TTWO, MNST, EA, DXCM, ISRG, NFLX, SBUX, CMCSA, BKR, TSLA, GOOGL, ODFL, CDNS, SNPS, CHTR, VRSK, VRTX, WBD, XEL, AMZN, ANSS, CRWD, INTC, INTU, MELI, NXPI, ON, TXN, ZS,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 10

AMZN, ANSS, CRWD, INTC, INTU, MELI, NXPI, ON, TXN, ZS,

Moving Below 30 DMA = 1

PCAR,

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