SPX Closes Higher, Nearing All-time Closing High...Real Estate, Utilities, Energy Lead Sectors...

© 2024

The SPX +26.41, 5,214, opened flat, traded higher and closed higher, 40 points below its March 28 all-time high.  Fed comments from Mary Daly participated in a moderated discussion at George Mason University today and made observations consistent with remarks by Fed Chair Powell in his May 1 FOMC press conference. 

Thursday’s Earning reactions: 

EPAM -67.27, -26.99%, CPAY -21.28, -6.99%, and ABNB -10.85, -6.87%, gapped down after earnings were released Thursday BMO or Wednesday AMC and were the three largest decliners in the SPX today.  RBLX -8.61, -22.06%, cratered after a revenue miss and downbeat guidance Thursday BMO.

NVDA -16.65, -1.84%, 887.47, opened slightly higher, traded down and closed lower.

SPX EPS Q1 First day reaction results:  Between Wed April 10 and Sat May 4, 2024, 410 SPX companies reported earnings.

135 up 1% or more = 32.9%

100 neutral, between .99% to -.99% = 24.4%

175 down, -1 or less = 42.7%

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

SPY up 2.98 at 520.17 on 43.5 million shares, below average volume day

VIX down .31 at 12.69

QQQ up .96 at 441.02

HD, CAT, GS, AMGN led the DJIA, 25 advancers, +4

EQIX, NRG, STE, UHS led the SPX, 415 advancers 

CEG, BKNG, TTD, WBD led the NDX, 69 advancers

Up:  IWM, DIA, SPY, QQQ,

Down: 

Ten of eleven sectors were higher on Thursday, led by XLRE, XLU and XLE.

The SPY MFC green line is pointed up at 73.5 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLK, XLV, XLRE,

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: Up

69 of 100 NDX stocks closed higher on Thursday.

53 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, ADBE, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, TMUS, ADP, BKR, CSGP, IDXX, ISRG, MNST, MSFT, PAYX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 8

ADP, BKR, CSGP, IDXX, ISRG, MNST, MSFT, PAYX,

Moving Below 30 DMA = 2

CHTR, MU,

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SPX Gaps Down, Rallies to Fill the Gap, Closes Flat...Utilities, Financial, Technology Lead Sectors...VST Leads SPX...

© 2024

The SPX -0.03, 5,187, gapped down, bounced, filled the gap and closed near unchanged.  Fed comments from Kashkari, Jefferson, Collins and Cook added opinions on monetary policy to assist with intraday fluctuations in the SPX.  VST replaces PXD in SPX and leads the index on its first day.

Wednesday’s Earning reactions: 

UBER -4.03, -5.72%, BR -10.90, -5.41%, and MTCH -1.69, -5.36%, gapped down after earnings were released Tuesday AMC and Wednesday BMO and were the three largest decliners in the SPX.  SHOP -14.32, -18.59%, cratered after an earnings and revenue beat Wednesday BMO.

NVDA -1.42, -0.16%, 904.12, opened lower, trended up and closed lower.

SPX EPS Q1 First day reaction results:  Between Wed April 10 and Sat May 4, 2024, 410 SPX companies reported earnings.

135 up 1% or more = 32.9%

100 neutral, between .99% to -.99% = 24.4%

175 down, -1 or less = 42.7%

Mega caps META, MSFT, AAPL rose and NVDA, AMZN, GOOGL, TSLA fell on Tuesday.

SPY up .05 at 517.19 on 41.9 million shares, below average and lightest volume day of 2024

VIX down .23 at 13.00

QQQ down .26 at 440.06

AMGN, BA, JPM, CSCO led the DJIA, 21 advancers, +1

VST, ANET, GL, EMR led the SPX, 245 advancers 

DDOG, CEG, AMGN, VRTX led the NDX, 45 advancers

Up:  DIA, SPY,

Down:  QQQ, IWM,

Three of eleven sectors were higher on Wednesday, led by XLU, XLF and XLK.

The SPY MFC green line is pointed up at 63.6 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLK, XLV, XLRE,

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: Up

45 of 100 NDX stocks closed higher on Wednesday.

47 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, ADBE, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, CHTR, FANG, GFS, MU, HON, NFLX, SNPS, VRTX, AVGO, TMUS,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

AVGO, TMUS,

Moving Below 30 DMA = 8

ADP, CPRT, CSGP, EA, ISRG, PAYX, PYPL, TTWO,

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SPX Closes Slightly Higher forms Spinning Top...Materials, Utilities, Consumer Staples Lead Sectors...DDOG, BLDR, DIS Down after Tuesday BMO earnings...

© 2024

The SPX +6.96, 5,187, opened slightly higher, traded in a range and formed a spinning top today.  Fed speak by Kashkari correlated with intraday fluctuations in the SPX.

NVDA -15.86, -1.72%, 905.54, opened lower, traded in a range and closed lower.

Tuesday’s Earning reactions: 

DDOG -14.57, -11.48%, BLDR -38.26, -19.05%, and DIS -11.08, -9.51%,

gapped down after earnings were released before the market open on Tuesday.

DIS was the DJIA‘s largest decliner, BLDR was the SPX’s largest decliner and DDOG was the NDX’s largest decliner.

NVDA -15.86, -1.72%, 905.54, opened lower, traded in a range and closed lower.

SPX EPS Q1 First day reaction results:  Between Wed April 10 and Sat May 4, 2024, 410 SPX companies reported earnings.

135 up 1% or more = 32.9%

100 neutral, between .99% to -.99% = 24.4%

175 down, -1 or less = 42.7%

Mega caps GOOGL, META, AAPL, AMZN rose and MSFT, NVDA, TSLA fell on Tuesday.

SPY up .57 at 517.14 on 52.3 million shares, below average volume

VIX down .26 at 13.23

QQQ up .07 at 440.32

MRK, DOW, V, UNH led the DJIA, 20 advancers, -0

FMC, IFF, KVUE, FIS led the SPX, 326 advancers 

GFS, CCEP, ODFL, VRSK led the NDX, 56 advancers

Up:  IWM, SPY, DIA, QQQ,

Down: 

Eight of eleven sectors were higher on Tuesday, led by XLB, XLU and XLP.

The SPY MFC green line is pointed up at 52.7 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLK, XLV, XLRE,

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: Up

56 of 100 NDX stocks closed higher on Tuesday.

53 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, PYPL, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, ADBE, AMAT, BKNG, CEG, CRWD, CTAS, EA, INTU, KLAC, NVDA, CHTR, CPRT, CSGP, FANG, GFS, ISRG, MU, TTWO, ADP, HON, NFLX, PAYX, SNPS, VRTX,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

ADP, HON, NFLX, PAYX, SNPS, VRTX, 

Moving Below 30 DMA = 7

ABNB, AVGO, DDOG, MDB, MRVL, MSFT, TMUS,

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