Friday, February 28, 2025

SPX, NDX Close Higher on Broad Rally, Heavy Volume, Strong Breadth...Financial, Consumer Discretionary, Energy Lead All Sectors Higher...NVDA Leads DJI...


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SPX +92.93, 5,861, a choppy trading after an inline PCE report, a delayed Ukraine minerals deal and a late rally after a buy order imbalance at the NYSE lifted advancers more than 100% from Thursday’s level.   Breadth strengthened and all eleven sectors rose. 

The DJI, 43,840, +1.39%, formed a bullish engulfing pattern.  NDX +1.62% forms piercing line candle at three-month intermediate-term support.

SMCI: -1.49, -3.47% falls to 30 DMA.
TSLA +11.03, +3.91%, forms bullish engulfing pattern.

Friday EPS reactions: NTAP -18.41, -15.57%, HPQ -2.26, -6.82%,


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


SPY up 9.13 at 594.18, 88.7 million shares, above average volume, highest since December 20
VIX down 1.50 at 19.63
QQQ up 7.90 at 508.17

NVDA, MMM, GS, AXP led the DJIA, 26 advancers, +11
AES, EIX, ERIE, TPL led the SPX, 437 advancers,
MSTR, MNST, MRVL, WBD led the NDX, 85 advancers

Up: QQQ, SPY, DIA, IWM
Down:

The SPY MFC green line is pointed down at 43.1 and is short-term bearish. –5.3.

All eleven sectors were higher on Friday led by XLF, XLY and XLE 

Uptrend sectorsXLC, XLF, XLK, XLU, XLI, XLY,
Neutral sectors: XLP, XLE, XLRE, XLV, XLB,
Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market TrendSideways


85 of 100 NDX stocks closed higher on Friday.

47 NDX stocks are above their 30 DMA:  CDW, ISRG, AEP, EXC, PAYX, AMGN, MELI, ADP, AZN, LIN, SBUX, CTAS, DASH, FTNT, GILD, ORLY, ROP, VRSK, VRTX, CCEP, COST, TMUS, CSCO, XEL, ABNB, BKNG, MDLZ, TTWO, INTC, KDP, AAPL, MNST, WBD, ADI, DXCM, MCHP, KHC, TXN, PEP, REGN, EA, INTU, CHTR, CMCSA, CSGP, FAST, WDAY,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
CMCSA, CSGP, FAST, WDAY,


Moving Below 30 DMA = 3
CTSH, GEHC, PDD,  



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