SPX, NDX Close Higher...ORCL Leads SPX on Positive EPS Reaction...Real Estate, Technology, Consumer Discretionary Lead Sectors...CPI Report Wednesday 8:30 am ET...

© 2024

The SPX +24.47, 5,495, opened higher, traded in a range and closed higher.  The SPX on Monday and Tuesday regained about 91% of Friday’s selloff and closed above the high of Monday’s bullish harami candle pattern.  VIX closed slightly lower.

The NDX +0.90%, opened higher, pulled back, reversed and closed higher confirming Monday’s bullish harami candle pattern.

NVDA +1.63, +1.53%, opened higher, traded in a range and closed higher.

AVGO +7.39, +5.25%, opened higher, trended up and closed higher.

ORCL +16.00, +11.44%, gapped up and closed higher after better-than-expected Q1 results Monday after the close and was the leading SPX advancer Tuesday.

CPI report Wednesday 8:30 am ET.

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

SPY up 2.38 at 548.79, 36.3 million shares, below average volume

VIX down .37 at 19.08

QQQ up 4.20 at 458.66

AMZN, VZ, MSFT, WMT led the DJIA, 15 advancers, -11

ORCL, AVGO, DLR, TSLA EQIX led the SPX, 262 advancers

AVGO, TSLA, MRVL, MRNA led the NDX, 57 advancers

Up:  QQQ, SPY,

Down:  IWM, DIA,

Seven of eleven sectors were higher on Tuesday, led by XLRE, XLK and XLY.

The SPY MFC green line is pointed down at 68.5 and is defensive. -1.2

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

Neutral sectors:  XLY, XLE,

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

57 of 100 NDX stocks closed higher on Tuesday.

53 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, KHC, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, TEAM, MAR, VRSK, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TMUS, TSLA, TXN, AMD, AMGN, ARM, INTU, MSFT, ORLY,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

AMD, AMGN, ARM, INTU, MSFT, ORLY,

Moving Below 30 DMA = 1

CMCSA,

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SPX, NDX Close Higher...SPX Recovers 66% of Friday's Selloff...Technology, Industrials, Financials Lead All Sectors Higher...After-hours: ORCL Up on Positive EPS Reaction...

 

© 2024

The SPX +62.63, 5,471, opened higher, closed higher, regained about 66% of Friday’s selloff and formed a bullish harami candle pattern.  VIX opened lower, closed lower.

The NDX +1.30%, opened higher, traded in a range closed higher forming a bullish harami candle pattern.

NVDA +3.64, +3.54%, opened higher and closed higher.

AVGO +3.82, +2.97%, rallied after Friday’s negative earnings reaction after beating Q3 EPS and revenue estimates and inline guidance.

After-hours:  ORCL +12.42, +8.88%, positive reaction after better-than-expected Q1 results.

CPI report Wednesday BMO.

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

SPY up 6.05 at 546.41, 40.4 million shares, below average volume

VIX down 2.93 at 19.45

QQQ up 5.77 at 454.46

VZ, BA, TRV, AXP led the DJIA, 26 advancers, +21

SMCI, UAL, PAYC, DAY, DECK led the SPX, 418 advancers

ARM, SMCI, MRNA, MNST led the NDX, 84 advancers

Up:  QQQ, DIA, SPY, IWM,

Down: 

All eleven sectors were higher on Monday, led by XLK, XLI and XLF.

The SPY MFC green line is pointed down at 69.7 and is defensive.

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

Neutral sectors:  XLY, XLE,

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

84 of 100 NDX stocks closed higher on Monday.

48 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, KHC, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, TEAM, MAR, VRSK, MDB, PEP, MNST, AMZN, CMCSA, FAST, IDXX, LIN, PCAR, TMUS, TSLA, TXN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 9

AMZN, CMCSA, FAST, IDXX, LIN, PCAR, TMUS, TSLA, TXN,

Moving Below 30 DMA = 1

LULU,

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SPX, NDX Close Lower as Mega Caps Drop After AVGO Earnings and Jobs Report...

© 2024

The SPX -94.99, 5,408, opened flat, trended down and closed lower following a negative earnings reaction from AVGO and a lower-than-expected Job Report of 142K vs160K estimate. 

The NDX -2.69%, opened slightly lower, trended down led by heavy selling in mega caps TSLA, NVDA and GOOGL.

NVDA -4.38, -4.09%, opened higher, reversed and closed lower.

AVGO -15.83, -10.36%, on a negative earnings reaction after beating Q3 EPS and revenue estimates and inline guidance.

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

SPY down 9.25 at 540.36, 68.4 million shares, above average volume

VIX up 2.48 at 22.38

QQQ down 12.35 at 448.69

TRV, MCD, V, UNH led the DJIA, 5 advancers, -9

DG, SBAC, CCI, UAL led the SPX, 124 advancers

FAST, MNST, PCAR, IDXX led the NDX, 31 advancers

Up: 

Down:  DIA, SPY, IWM, QQQ,

Ten of eleven sectors were lower on Friday, least weak were XLRE, XLP and XLV.

The SPY MFC green line is pointed down at 76.1 and is defensive.

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

Neutral sectors:  XLY, 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

9 of 100 NDX stocks closed higher on Friday.

40 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, KHC, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, LULU, TEAM, MAR, VRSK, MDB, PEP, MNST,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

MNST

Moving Below 30 DMA = 14

AAPL, AMZN, CMCSA, CRWD, CSX, HON, ILMN, LIN, META, ORLY, REGN, TMUS, TSLA, TXN,

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SPX Closes Slightly Lower...NDX Higher as Mega-caps Rise...Consumer Discretionary, Communication Services Lead Sectors...After-hours: AVGO Lower after Earnings Beat...

© 2024

The SPX -16.66, 5,503, opened flat, traded in a range and closed lower.  The SPX formed a spinning top.  ADP private payrolls was 99K vs 140K expected.

The NDX +0.05%, opened slightly lower, traded in a range and closed slightly higher while forming a spinning top candle.

NVDA +1.00, +0.94%, opened lower, traded in a range and closed higher.

After a negative earnings reaction on Wednesday DLTR +7.72%, and ZS +3.26%, are the first and third largest gainers on the NDX today.

The August Jobs Report consensus in 160K non-farm payrolls and 4.2% unemployment rate, due 8:30 am ET on Friday. 

After-hours:  AVGO -10.12, -6.62%, on a negative earnings reaction after beating Q3 EPS and revenue estimates and inline guidance.

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

SPY down 1.34 at 549.61, 44.1 million shares, below average volume, C-pattern BO test, spinning top

VIX down 1.42 at 19.90

QQQ up .43 at 461.04

AMZN, MRK, AAPL, TRV led the DJIA, 5 advancers, -9

DLTR, MKTX, TSLA, HRL, BAX led the SPX, 124 advancers

DLTR, TSLA, ZS, CMCSA led the NDX, 31 advancers

Up:  QQQ,

Down:  SPY, DIA, IWM,

Two of eleven sectors were higher on Thursday, led by XLY, XLC and XLK.

The SPY MFC green line is pointed down at 82.9 and is counter-trend defensive.

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

Neutral sectors:  XLY, 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

31 of 100 NDX stocks closed higher on Thursday.

53 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, ORLY, MDLZ, KDP, PYPL, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, TXN, WDAY, TTWO, BKNG, CSGP, LULU, CRWD, TEAM, HON, MAR, VRSK, CSX, MDB, PEP, TSLA, AAPL, AMZN, CMCSA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

AAPL, AMZN, CMCSA,     

Moving Below 30 DMA = 5

ADI, AMGN, AZN, CPRT, MNST,

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SPX, NDX Close Slightly Lower while Holding Above Tuesday's Low, Form Inverted Hammer Candle Patterns...Utilities, Consumer Staples, Consumer Discretionary Lead Sectors...DLTR, ZS Gap Lower on Negative EPS Reactions...

© 2024

The SPX -8.86, 5,520, opened slightly lower and traded in a range at and above Tuesday’s low forming an inverted hammer.  The SPX rallied after the JOLTS report came in lighter than expected this morning. ADP private payrolls will be released Thursday BMO and the Jobs Report on Friday BMO. 

The NDX -0.20%, opened lower, traded in a range and closed lower.

NVDA -1.79, -1.66%, opened lower, traded in a range on average volume, and closed lower.

ZS -36.06, -18.67%, after a strong Q4 beat on revenues and earnings, but Q1 & FY25 guidance came in below expectations.

DLTR -18.09, -22.16%, Q2 miss on revenues and earnings, lowered FY24 guidance.

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

SPY down 1.13 at 550.95, 47.1 million shares, below average volume, C-pattern BO test, inverted hammer

VIX up .60 at 21.32

QQQ down 1.20 at 460.61

TRV, IBM, BA, MMM led the DJIA, 14 advancers, +8

TSLA, STX, FICO, GEV, CVS, GEHC led the SPX, 239 advancers

TSLA, MDLZ, GEHC, AMD led the NDX, 50 advancers

Up:  DIA,

Down:  IWM, SPY, QQQ,

Six of eleven sectors were higher on Wednesday, led by XLU, XLP and XLY

The SPY MFC green line is pointed down at 86.2 and is counter-trend defensive.

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

Neutral sectors:  XLY, 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

50 of 100 NDX stocks closed higher on Wednesday.

55 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, TXN, WDAY, TTWO, CPRT, BKNG, CSGP, LULU, CRWD, TEAM, HON, MAR, AMGN, VRSK, CSX, MDB, PEP, ADI, MNST, TSLA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

ADI, MNST, TSLA,    

Moving Below 30 DMA = 4

AAPL, AMZN, PCAR, ZS,

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SPX, NDX Fall as Mega-Cap Stocks Move Lower...VIX > 20...Consumer Staples, Real Estate Lead Sectors...NVDA -9%...

© 2024

The SPX -119.47, 5,528, opened lower, moved down about 25 points by 10 am ET when the ISM Manufacturing report came out at 47.2 above 46.8 in July but below the 47.5 consensus.  The ISM has been in contraction (below 50) since April 2024. The SPX fell another 24 points in 15 minutes and continued to trend down on Tuesday until the close.  

Some reports indicate that the below consensus report raising concerns of an economic contraction.  Other data does not yet confirm that perspective.  Traders await the JOLTS report tomorrow and the Jobs Report on Friday. 

The NDX -3.15%, opened lower, trended down and closed lower as Mega-cap stocks fell between AMZN -1.26% to GOOGL -3.68% and NVDA’s -9.53%.

NVDA -11.37, -9.53%, the largest decliner of the mega-caps, opened lower, trended down on above average volume, and closed lower.

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

SPY down 11.60 at 552.08, 60.4 million shares, above average volume, C-pattern BO test

VIX up 5.17 at 20.72

QQQ down 14.64 at 461.81

VZ, PG, UNH, V led the DJIA, 6 advancers, -20

TAP, DXCM, CBOE, SJM, CHD led the SPX, 147 advancers

DXCM, PEP, MNST, XEL led the NDX, 23 advancers

Up:   

Down:  DIA, SPY, QQQ, IWM,

Two of eleven sectors were higher on Tuesday, led by XLP, XLRE and XLU.

The SPY MFC green line turned down at 89.8 and is counter-trend defensive.

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

Neutral sectors:  XLY, 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

23 of 100 NDX stocks closed higher on Tuesday.

56 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, AAPL, ADBE, CSCO, MRVL, ROP, ROST, TXN, WDAY, ZS, TTWO, CPRT, BKNG, CSGP, LULU, CRWD, TEAM, HON, MAR, AMGN, VRSK, CSX, MDB, AMZN, PCAR, PEP,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

PEP,   

Moving Below 30 DMA = 22

ADI, AMD, ANSS, ARM, ASML, AVGO, CDNS, CDW, CEG, CMCSA, DDOG, EA, FAST, IDXX, KLAC, MCHP, MSFT, NXPI, NVDA, ON, QCOM, VRTX,

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