SPX Closes Lower after Four-day Rally...Technology, Energy, Discretionary Lead Sectors...TSLA Leads NDX...

© 2023

 

-The SPX -8.12 opened flat, choppy range and closed slightly lower.

-QQQ closed higher and remained above its 30 DMA.

-VIX rose.

 

/CL and TNX closed higher, while DXY, GLD and TLT moved lower.

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

fell.

iBB:  In our model account we maintain a net long position.  We had 2 LCV

positions hit their target profit, and we increased our Jan 20 and Jan 27 risk

exposure with new positions.

Day 2 of Q4 Earnings Season today with four SPX companies reporting BMO:

First day reaction: Q4 through Jan 17…

Positive:  MS, SBNY, WFC, JPM, BAC, BK, C, FRC = 8

Neutral: BLK = 1

Negative:  GS, CFG, DAL, UNH = 4

26 SPX companies report EPS this week: 

Tuesday:  CFG, GS, MS, SBNY, UAL,

Wednesday:  JBHT, PLD, PNC, SCHW, DFS, KMI,

Thursday:  CMA, FAST, FITB, KEY, MTB, NTRS, PG, TFC, NFLX, PPG, SIVB,

Friday:  HBAN, RF, SLB, STT

SPY down .73 at 397.77, on 62.6 million shares, below average volume, down on

similar volume.

VIX up 1.01 at 19.36

QQQ up .57 at 281.54

MCD, CVX, AAPL, DIS led the DJIA, 6 advancers, -16

MS, KMX, VRTX, GPN led the SPX, 192 advancers

TSLA, ZS, CRWD, NVDA led the NDX, 46 advancers.

The two-year trend term is sideways.  The one-year trend down.

Up:  QQQ,

Down:  IWM, SPY, DIA,

Five of eleven sectors were higher on Tuesday, led by XLK, XLE and XLY.

The SPY MFC green line is pointed up at 59 and is short-term bullish.  SPY

opened flat and closed slightly lower. 

 Uptrend sectors:   XLB, XLI, XLF, XLC, XLRE, XLE, XLK, XLU, XLV, XLP,

Neutral sectors:  XLY,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

46 of 100 NDX stocks closed higher on Tuesday.

72 NDX stock are above their 30 DMA:   KHC, ROST, AZN, AVGO, EXC, ALGN, BKNG, META, SGEN, CMCSA, JD, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AMAT, ASML, CSX, CTSH, FANG, INTC, KLAC, LRCX, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, MCHP, MELI, ADSK, AMZN, COST, DLTR, ISRG, NXPI, PCAR, QCOM, ABNB, AMD, BIIB, CSGP, FISV, LCID, MAR, NVDA, PAYX, TEAM, CPRT, GFS, GOOG, GOOGL, MNST, MRVL, OKTA, VRTX, AAPL, DDOG, ILMN, SIRI, ZM, ZS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

AAPL, DDOG, ILMN, SIRI, ZM, ZS,

Moving Below 30 DMA = 6

ATVI, AMGN, CSCO, EA, FAST, HON,

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SPX Closed higher on Friday as Q4 Earnings Season Starts with Nine SPX Companies Reporting...Consumer Discretionary, Financial, Basic Materials Lead Sectors...Markets Closed Monday for MLK, Jr. Day...Have a Great Holiday Weekend...

© 2023

Today was the unofficial start of Q4 Earnings Season with seven SPX companies reporting:

First day reaction: Q4 Jan 13…

Positive:  WFC, JPM, BAC, BK, C, FRC = 6

Neutral: BLK = 1

Negative:  DAL, UNH = 2

26 SPX companies report EPS next week: 

Tuesday:  CFG, GS, MS, SBNY, UAL,

Wednesday:  JBHT, PLD, PNC, SCHW, DFS, KMI,

Thursday:  CMA, FAST, FITB, KEY, MTB, NTRS, PG, TFC, NFLX, PPG, SIVB,

Friday:  HBAN, RF, SLB, STT

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

iBB:  In our model account we maintain a net long position.  We had 5 LCV positions hit their target profit, and we increased our Jan 20 and Feb 3 risk exposure with new positions.

SPY up 1.54 at 398.50, on 63.9 million shares, below average volume, up on lower volume.

VIX down .48 at 18.35

QQQ up 1.92 at 280.97

JPM, CAT, GS, AAPL led the DJIA, 22 advancers, +3

WFC, SWK, TGT, AMZN led the SPX, 308 advancers

OKTA, MELI, ILMN, PDD led the NDX, 69 advancers.

The two-year trend term is sideway.  The one-year trend down.

Up:  QQQ, IWM, SPY, DIA,

Down:

Eight of eleven sectors were higher on Friday, led by XLY, XLF and XLB.

The SPY MFC green line is pointed up at 53.5 and is short-term bullish.  SPY opened lower and closed higher.

Uptrend sectors:   XLB, XLI, XLF, XLC, XLRE, XLE, XLK, XLU, XLV, XLP,

Neutral sectors:  XLY,

Down trend sectors:

The 6-month intermediate trend is sideways.  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 Friday.

72 NDX stock are above their 30 DMA:   KHC, ROST, AZN, AVGO, ATVI, EXC, ALGN, BKNG, META, SGEN, CMCSA, JD, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AMAT, ASML, CSCO, CSX, CTSH, FANG, INTC, KLAC, LRCX, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, MCHP, MELI, ADSK, AMZN, COST, DLTR, ISRG, NXPI, PCAR, QCOM, ABNB, AMD, BIIB, CSGP, EA, FAST, FISV, LCID, MAR, NVDA, PAYX, TEAM, CPRT, HON, AMGN, GFS, GOOG, GOOGL, MNST, MRVL, OKTA, VRTX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 8

AMGN, GFS, GOOG, GOOGL, MNST, MRVL, OKTA, VRTX,

Moving Below 30 DMA = 2

AEP, INTU,

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SPX Closed Slightly Higher in Choppy Range after CPI Drops...Energy, Real Estate, Communication Services Lead Sectors...

© 2023 

-The SPX +13.56 opened higher, choppy range and closed higher.

-IWM, DIA, QQQ and SPY closed higher and above its 30 DMA.

-VIX fell.

 

TLT, GLD and /CL closed higher, while DXY and TNX moved lower.

Mega caps were mixed on Thursday NVDA, META, MSFT, TSLA, AMZN rose,

GOOGL, GOOG, AAPL fell. SOXL +3.63%

 

The CPI report released at 8:30 am ET.  was M/M -0.1% vs. 0.0% expected and

Y/Y 6.5% vs 6.5% expected.  The report came in at consensus or better and

resulted in very choppy price action with only modest gains in the SPX.

iBB:  In our model account we maintain a net long position.  We had 9 LCV positions hit their target profit which did reduce our January 12 risk exposure over 70%, and we increased our Jan 20 risk exposure with new positions.

SPY up 1.44 at 396.96, on 90.1 million shares, above average volume, up on higher volume.

VIX down 2.26 at 18.83

QQQ up 1.50 at 279.05

DIS, CRM, BA, HON led the DJIA, 19 advancers, -3

AAL, UAL, RCL, NCLH led the SPX, 279 advancers

MELI, CTSH, LCID, WBD led the NDX, 56 advancers.

The two-year trend term is sideway.  The one-year trend down.

Up:  IWM, DIA, QQQ, SPY,

Down:

Eight of eleven sectors were higher on Thursday, led by XLE, XLRE and XLC.

The SPY MFC green line is pointed up at 47.6 and is short-term bullish.  SPY opened slightly higher and closed slightly higher.

Uptrend sectors:   XLB, XLI, XLF, XLE, XLU, XLRE, XLC, XLV, XLP, XLK,

Neutral sectors:  XLY,

Down trend sectors:

The 6-month intermediate trend is sideways.  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 Thursday.

66 NDX stock are above their 30 DMA:   KHC, ROST, AZN, AVGO, ATVI, EXC, ALGN, BKNG, META, SGEN, CMCSA, JD, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AEP, AMAT, ASML, CSCO, CSX, CTSH, FANG, INTC, KLAC, LRCX, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, MCHP, MELI, ADSK, AMZN, COST, DLTR, ISRG, NXPI, PCAR, QCOM, ABNB, AMD, BIIB, CSGP, EA, FAST, FISV, INTU, LCID, MAR, NVDA, PAYX, TEAM, CPRT, HON,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

CPRT, HON,

Moving Below 30 DMA = 6

AMGN, CTAS, GILD, ILMN, MDLZ, MNST,

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SPX Closes Higher Before CPI Report Thursday...Breadth Remains Strong...Real Estate, Consumer Discretionary, Technology Lead All Sectors Higher...

© 2023

-The SPX +50.36 opened higher, trended up and closed higher.

-QQQ, SPY, IWM, and DIA closed higher, and each is above its 30 DMA.

-VIX moved up.

/CL, TLT and DXY closed higher, while TNX and GLD moved lower.

Tomorrow the CPI report will be released at 8:30 am ET.  Consensus CPI

estimate M/M is 0.0% vs. 0.1% prior and Y/Y 6.6% vs 7.1% prior.  Market action

Tuesday and Wednesday indicate that institutions are expecting a meet or beat

report and a market move to the upside.  They don’t know the future, however

when traders take a long position, they are willing to take the risk that they will lose

if they are wrong.

In our model account we maintain a net long position.  We did reduce our January 12 risk exposure, increased our Jan 20 risk exposure and our cash balance today.

SPY up 4.94 at 395.52, on 68.7 million shares, below average volume, up on higher volume.

VIX up .51 at 21.09

QQQ up 4.72 at 277.55

MSFT, HD, AAPL, GS led the DJIA, 22 advancers, -2

BIO, ETSY, SEDG, ALB led the SPX, 403 advancers

LCID, TEAM, ABNB, AMZN led the NDX, 81 advancers

The two-year trend term is up a little.  The one-year trend down.

Up:  QQQ, SPY, IWM, DIA,

Down:

All eleven sectors were higher on Wednesday, led by XLRE, XLY and XLK.

Advancers strengthened on Wednesday as advancers led 2,392 to 707 on the NYSE and led 3,211 to 1,453 on the NASDAQ.

The SPY MFC green line is pointed up at 37.8 and is short-term bullish.  SPY opened higher and closed higher.

Uptrend sectors:   XLV, XLP, XLB, XLI, XLF, XLE, XLU, XLRE, XLK,

Neutral sectors:  XLC, XLY,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

81 of 100 NDX stocks closed higher on Wednesday

70 NDX stock are above their 30 DMA:   KHC, ROST, AZN, AVGO, ATVI, EXC, ALGN, BKNG, META, SGEN, CMCSA, JD, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AEP, AMAT, ASML, CSCO, CSX, CTSH, FANG, INTC, KLAC, LRCX, MDLZ, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, MCHP, MELI, ADSK, AMGN, AMZN, COST, DLTR, GILD, ISRG, NXPI, PCAR, QCOM, ABNB, AMD, BIIB, CSGP, CTAS, EA, FAST, FISV, ILMN, INTU, LCID, MAR, MNST, NVDA, PAYX, TEAM,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 16

ABNB, AMD, BIIB, CSGP, CTAS, EA, FAST, FISV, ILMN, INTU, LCID, MAR, MNST, NVDA, PAYX, TEAM,

Moving Below 30 DMA = 3

ISRG, OKTA, ZM,

Add Comments here:

SPX Opens Lower, Closes Higher...Communication Services, Consumer Discretionary, Basic Materials Lead Sectors...

© 2023

 

The SPX +27.16 opened lower, rallied, traded in a range until after Powell spoke and closed higher after an afternoon rally.

IWM, QQQ, SPY and DIA closed higher and is above its recent 3-week trading range. 

VIX moved low.

Jerome Powell participated in a discussion today at 9 am ET, at the Sveriges Riksbank International Symposium on Central Bank Independence, Stockholm, Sweden.  He did not specifically comment on current U.S. Fed policy, rather addressed the benefits of independent monetary policy.

 

TNX, DXY, GLD and /CL closed higher, while TLT moved lower.

SPY up 2.72 at 390.58, on 65.3 million shares, below average volume, up on lower

volume.

VIX down 1.39 at 20.58

QQQ up 2.29 at 272.83

DOW, CAT, VZ, AMGN led the DJIA, 24 advancers, +9

FSLR, NUE, STE, UAL led the SPX, 370 advancers

WBD, LCID, IDXX, NFLX led the NDX, 75 advancers

The two-year trend term is up a little.  The one-year trend down.

Up:  IWM, QQQ, SPY, DIA,

Down:

Ten of eleven sectors were higher on Tuesday, led by XLC, XLY and XLB.

Advancers strengthened on Tuesday as advancers led 2,213 to 876 on

the NYSE and led 3,201 to 1,245 on the NASDAQ.

The SPY MFC green line is pointed up at 31.2 and is short-term bullish. SPY opened lower and closed higher.

Uptrend sectors:   XLV, XLP, XLB, XLI, XLF, XLE, XLU, XLRE, XLK,

Neutral sectors:  XLC,

Down trend sectors:  XLY,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

75 of 100 NDX stocks closed higher on Tuesday

57 NDX stock are above their 30 DMA:   KHC, ROST, AZN, AVGO, ATVI, EXC, OKTA, ALGN, BKNG, META, SGEN, CMCSA, JD, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AEP, AMAT, ASML, CSCO, CSX, CTSH, FANG, INTC, KLAC, LRCX, MDLZ, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, MCHP, MELI, ADSK, AMGN, AMZN, COST, DLTR, GILD, ISRG, MRNA, NXPI, PCAR, QCOM, ZM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 12

ADSK, AMGN, AMZN, COST, DLTR, GILD, ISRG, MRNA, NXPI, PCAR, QCOM, ZM,

Moving Below 30 DMA = 3

FISV, ILMN, INTU,

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