©
2026
SPX +15.60, 7,413, opened
lower, formed a piercing candle pattern that closed higher. NDX closed below seven-week support
and formed a hammer.
Breadth weakened slightly as advancers led on the
NYSE and decliners led by just 47 stocks on the NASDAQ exchange.
META, MSFT report Wednesday after market close and AAPL, AMZN report Thursday
after market close.
SPX
advancers: IQV INCY SHW WDAY ZBRA
HCA CRL NUE SOLV CTSH ACN.
SPX
decliners: SNDK GLW COHR CARR MU STX
LITE DELL AMD AMAT MRVL.
___________________________________________________________________
Day 11, Q2 Earnings
season:
Wednesday
BMO: ADP, AON, APH, BH,
BIIB, BSX, CBRE, CTSH, ETR, FTV, GD, GEHC,
GNRC, GRMN, HUM, IEX, JCI, LII, MAS, ODFL, PG, SW, SWK, VMC, VRSK, VRT,
WEC, Wednesday AMC: ALGN, AWK, CHRW, CMG, EG, EQIX, ESS, FICO, FTNT,
HOOD, INVH, LHX, LRCX, MAA, META, MGM, MSFT, ORLY, PSA, PTC, QCOM, REG, SBUX,
TYL, VICI, VTR,
Q2 First
day reaction: +44%
Positive: IQV, INCY, SHW, NUE, RCL, PNR
BRO KO, BA,
UHS, ECL, PYPL, XYL, ITW, PCAR, AMT PFG, CDNS, BKR, SLB,
DLR, VRSN,
VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON,
ROP, NSC,
UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK,
BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 60
Neutral: CNP, CMS, CNC, UDR, DTE,
CINF, NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 19
Negative: GLW, CARR, UPS, TXT,
SPGI, HUBB, HLT, IVZ, WELL DINO, FFIV, INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA,
LUV, HBAN,
CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF,
KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR,
ELV, JNJ, C, WFC, FAST = 57
Bold
is > +5% or -5%
____________________________________________________________________
SK Hynix ADR, SKHY,
closed 130.17, -8.98%
on its thirteenth trading day.
IPO was at 149. SK Hynix is a
profitable company with over $65 billion in revenues (larger than SPCX) and $28
billion in annual profit. The ADR is
speculative because as a new IPO it does not have a track record to evaluate.
News on Tuesday
about China’s development of DUV technology contributed to a decline in semiconductor
stocks. BofA issued a note that it
believes the ASML price decline was overdone. Our research suggests that China’s DUV
technology capacity through 2027 would likely only be equivalent to about 20%
of ASML’s expected production.
SpaceX, SPCX,
closed at 116.41, +2.56% formed
a bullish engulfing candle today. Our
view is that SPCX, with no earnings, is an overvalued speculation. IPO at 135 on June 12.
SPY +0.24%, below average volume of 46.9 million
shares.
VIX -0.46, 18.21,
NDX -0.98% formed a hammer candle below its June 9 support
low and its 8-week sideways consolidation.
DJI, 52,747 +1.03%, rose and closed near its all-time closing
high on July 6.
Mega caps BRK/B, GOOGL, LLY, WMT, MSFT AAPL, NVDA rose and META, AMZN, TSLA, AVGO, TSM, MU fell on Tuesday.
Up: DIA, SPY, IWM,
Down: QQQ,
The SPY
MFC green line is
down at 51.2,
price-action closed slightly above its July 8 ST support and is defensive. -5.7
Seven of eleven sectors were higher
on Tuesday led by XLV, XLP and XLC
59
of 100
NDX stocks closed higher on Tuesday.
52 NDX stocks are above their 30
DMA: EA, FAST, PCAR, CCEP, AMGN,
CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, AAPL, GILD, PDD, FANG, INTU, NVDA,
ROST, HON, ODFL, CEG, NVDA, EXC, XEL, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI,
WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MAR, MSFT, ORLY, TTWO,
CMCSA, GEHC, MNST, VRTX, PEP,
NDX Stocks to Watch on Wednesday
Moving Above 30 DMA = 5
CMCSA, GEHC, MNST, VRTX, PEP,
Moving Below 30 DMA = 1
PLTR,
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