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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SPX Closes Higher for a Third Day...Communication Services, Financial, Technology Lead all Sectors Higher...MU Leads NDX...

© 2024

The SPX +57.20, 5,180, gapped higher, trended up and closes higher for a third consecutive day, above its 30 DMA and at its highest close since April 11.

NVDA +33.51, +4.73%, 921.40, opened higher, trended up and closed higher.

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 NVDA, META, TSLA, MSFT, AMZN, GOOGL rose and AAPL fell on Monday.

SPY up 5.28 at 516.57 on 47.2 million shares, below average volume

VIX unchanged at 13.49

QQQ up 4.77 at 440.25

DIS, IBM, MSFT, CAT led the DJIA, 20 advancers, -0

AMGN, GEV, ENPH, LYV, FSLR led the SPX, 381 advancers 

MU, NVDA, AMD, DASH led the NDX, 72 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

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

The SPY MFC green line is pointed up at 42.8 and is short-term bullish.

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

Neutral sectors:  XLY, XLK, XLV,

Down trend sectors:  XLRE,

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

72 of 100 NDX stocks closed higher on Monday.

54 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, TMUS, MDLZ, PANW, PDD, MDB, 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, ABNB, AVGO, CHTR, CPRT, CSGP, DDOG, FANG, GFS, ISRG, MRVL, MSFT, MU, TTWO,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 13

ABNB, AVGO, CHTR, CPRT, CSGP, DDOG, FANG, GFS, ISRG, MRVL, MSFT, MU, TTWO,

Moving Below 30 DMA = 0

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SPX Opens and Closes Higher on a Higher Low W-pattern Reversal BO...Technology, Communication Services, Materials Lead all Sectors Higher...AMGN, AAPL Lead Indexes Higher on Positive EPS Reactions...

© 2024

The SPX +63.59, 5,127, gapped higher, traded in a range and closed +1.26% higher.  The SPX recovered all of Tuesday and Wednesday’s pullback with a higher low reversal breakout.

NVDA +29.72, +3.46%, 887.89, opened higher, trended up and closed higher.

Positive Earning reactions:  AMGN +32.90, +11.82% and AAPL +10.35, +5.98%, rose after earnings.

This Week 175 SPX eps reports:

Saturday: BRK/B

First day reaction: Q1 day 16 earnings season as of Friday, May 3,

Positive:  AMGN, LYV, AAPL, MSI, DLR, CPT, CTRA, CBOE, MNST, BKNG, HSY, HWM, MRNA, CHRW, APTV, QCOM, BWA, K, WRK, CTVA, ZTS, VTR, ALB, XYL, REGN, AIG, BDX, MGM, KIM, VMC, FSLR, CTSH, SO, TECH, GRMN, AMCR, DD, VRSK, PFE, EXR, AMZN, ADP, PPL, PRU, CZR, LDOS, LLY, TT, GLW, ZBRA, MMM, NXPI, ACGL, ECL, PYPL, DPZ, ON, RVTY, RMD, GOOGL, BALL, KLAC, TROW, MHK, LHX, WDC, LYB, CL, MSFT,  NEM, TYL, CARR, TER, CMG, URI, UNP, KDP, DOV, FTI, ROL, MRK, NOC, TSCO, LRCX, AAL, HES, GEV, MO, WM, TSLA, HAS, WAB, CSGP, BSX, TXN, SYF, BIIB, HLT, EQT, EQR, T, APH, IPG, GL, GE, DHR, KMB, DGX, PHM, FI, GM, PM, UPS, NEE, TFC, AXP, FITB, GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 134

Neutral:  HOLX, ED, LNT, PXD, CBRE, PRU, AMZN, GPN, PSA, PPL, MA, SYK CZR, CDW, EIX, PFE, GRMN, OKE, CTLT, NCLH, ESS, WEC, ADP, DD, INVH, COR, MAR, RSG, YUM, DAY, MDLZ, MCO, MAA, CAH, AWK, TRGP, PNW, EXC, D MRO, DVN, VICI, CHD, PWR, AFL, ZBH, EIX, PSA, CTLT, WEC, ESS, INVH, MAR, PEG, MCD, CNP, KO, WELL, EG, AEP, APD, INCY, CVX, COF, AVB, TMUS, EMN, JNPR, DOX, F, RCL, SPGI, PCG, CMS, VLO, DTE, UHS, XEL, HON, DOW, STX, AVY, TMO, V, ETR, ARE BRO, NVR, RTX, LMT, HAL, PNR, HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 100

Negative: EXPE, FTNT, TRMB, IR, DVA, ILMN, FRT, REG, AEE, AES, EOG, SBUX, EL, CLX, KHC, ETSY, QRVO, HII, PAYC, BAX, SWK, AME, TFX, LIN, MOS, IQV, APA, CI, EBAY, PTC, MET, PH, ANSS, HST, COP, ICE, ES, IRM, ALL, CMI, VS, SBUX, SWKS, NCLH, SMCI, EL, CDW, GPN, AMD, JCI, GNRC, KHC, DAY, CLX, IDXX, BXP, YUM, COR, RSG, OKE FANG, SYK, MA, MDLZ, UDR, GEHC, TAP, MPC, FFIV, HUBB, IT, SBAC, PARA, PCAR, SYY, ADM, MLM, ETN, ITW, AMT, BEN, DXCM, INTC, FICO, AON, CINF, ABBV, VRSN, HIG, PSX, XOM, ROP, PFG, HCA, CNC, EW, RHI, CHTR, WY, AJG, FE, META, BMY, IBM, CAT, LUV, CMCSA, AOS, LH, WST, RJF, MOH, NOW, ORLY, WTW, IP, NDAQ, POOL, ALLE, GWW, ALGN, ODFL, TDY, FTV, ENPH, MAS, OTIS, GD, HUM, NSC, BG, IEX, STLD, BA, CB, TEL, CME, VLTO, BKR, LKQ, MSCI, NUE, IVZ, WRB, PKG, AMP, PEP, SHW, FCX, CDNS, VZ, NFLX, PPG, SLB, ISRG, LVS, EFX, SNA, BX, JBHT, TRV, PLD, ASML, USB, ABT, NTRS, BAC, JNJ, PNC, BK, JPM, BLK, C, KMX, FAST, DAL = 175

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

SPY up 6.26 at 511.29 on 72.7 million shares, average volume

VIX down 1.19 at 13.49

QQQ up 8.58 at 435.48

AMGN, AAPL, MSFT, HD led the DJIA, 20 advancers, -1

AMGN, GEV, ENPH, LYV, FSLR led the SPX, 378 advancers 

AMGN, MELI, AAPL, CEG, ASML led the NDX, 81 advancers

Up:  QQQ, SPY, DIA, IWM,

Down: 

All eleven sectors were higher on Friday, led by XLK, XLC and XLB.

The SPY MFC green line is pointed up at 38.6 and is short-term bullish.

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

Neutral sectors:  XLY, XLV, XLK,

Down trend sectors:  XLRE,

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

81 of 100 NDX stocks closed higher on Friday.

41 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, TMUS, MDLZ, PANW, PDD, MDB, 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,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 10

ADBE, AMAT, BKNG, CEG, CRWD, CTAS, EA, INTU, KLAC, NVDA,

Moving Below 30 DMA = 1

DDOG,

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SPX Opens Higher, Closes Higher...Technology, Real Estate, Consumer Discretionary Lead Sectors Higher...After-hours: AMGN, AAPL Higher on Positive EPS Reactions...

© 2024

The SPX +45.81, 5,064, gapped higher, pulled back, filled its opening gap, bounced up, trended higher and closed +0.91%.  The SPX recovered 62% of Wednesday's post Fed press conference selloff, confirming Wednesday’s inverted hammer candle pattern.

NVDA +27.76, +3.34%, 858.17, opened higher and closed higher.

Positive Earning reactions:  HWM +10.32, +15.45%, MRNA +14.13, +12.68%, CHRW +8.84, +12.25%, QCOM +15.99, +9.74%, rose after earnings.

After-hours: AMGN +36.61, +13.15% and AAPL +11.77, +6.80%, on positive EPS reactions.

This Week 175 SPX eps reports:

Friday Q1 day 16 BMO: CBOE, CBRE, HSY, TRMB, Saturday: BRK/B

First day reaction: Q1

Positive:  HWM, MRNA, CHRW, APTV, QCOM, BWA, K, WRK, CTVA, ZTS, VTR, ALB, XYL, REGN, AIG, BDX, MGM, KIM, VMC, FSLR, CTSH, SO, TECH, GRMN, AMCR, DD, VRSK, PFE, EXR, AMZN, ADP, PPL, PRU, CZR, LDOS, LLY, TT, GLW, ZBRA, MMM, NXPI, ACGL, ECL, PYPL, DPZ, ON, RVTY, RMD, GOOGL, BALL, KLAC, TROW, MHK, LHX, WDC, LYB, CL, MSFT,  NEM, TYL, CARR, TER, CMG, URI, UNP, KDP, DOV, FTI, ROL, MRK, NOC, TSCO, LRCX, AAL, HES, GEV, MO, WM, TSLA, HAS, WAB, CSGP, BSX, TXN, SYF, BIIB, HLT, EQT, EQR, T, APH, IPG, GL, GE, DHR, KMB, DGX, PHM, FI, GM, PM, UPS, NEE, TFC, AXP, FITB, GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 123

Neutral:  MCO, MAA, CAH, AWK, TRGP, PNW, EXC, D MRO, DVN, VICI, CHD, PWR, AFL, ZBH, EIX, PSA, CTLT, WEC, ESS, INVH, MAR, PEG, MCD, CNP, KO, WELL, EG, AEP, APD, INCY, CVX, COF, AVB, TMUS, EMN, JNPR, DOX, F, RCL, SPGI, PCG, CMS, VLO, DTE, UHS, XEL, HON, DOW, STX, AVY, TMO, V, ETR, ARE BRO, NVR, RTX, LMT, HAL, PNR, HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 69

Negative: ETSY, QRVO, HII, PAYC, BAX, SWK, AME, TFX, LIN, MOS, IQV, APA, CI, EBAY, PTC, MET, PH, ANSS, HST, COP, ICE, ES, IRM, ALL, CMI, VS, SBUX, SWKS, NCLH, SMCI, EL, CDW, GPN, AMD, JCI, GNRC, KHC, DAY, CLX, IDXX, BXP, YUM, COR, RSG, OKE FANG, SYK, MA, MDLZ, UDR, GEHC, TAP, MPC, FFIV, HUBB, IT, SBAC, PARA, PCAR, SYY, ADM, MLM, ETN, ITW, AMT, BEN, DXCM, INTC, FICO, AON, CINF, ABBV, VRSN, HIG, PSX, XOM, ROP, PFG, HCA, CNC, EW, RHI, CHTR, WY, AJG, FE, META, BMY, IBM, CAT, LUV, CMCSA, AOS, LH, WST, RJF, MOH, NOW, ORLY, WTW, IP, NDAQ, POOL, ALLE, GWW, ALGN, ODFL, TDY, FTV, ENPH, MAS, OTIS, GD, HUM, NSC, BG, IEX, STLD, BA, CB, TEL, CME, VLTO, BKR, LKQ, MSCI, NUE, IVZ, WRB, PKG, AMP, PEP, SHW, FCX, CDNS, VZ, NFLX, PPG, SLB, ISRG, LVS, EFX, SNA, BX, JBHT, TRV, PLD, ASML, USB, ABT, NTRS, BAC, JNJ, PNC, BK, JPM, BLK, C, KMX, FAST, DAL = 160

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

SPY up 4.68 at 505.03 on 62.5 million shares, below average volume

VIX down .71 at 14.68

QQQ up 5.38 at 426.90

BA, AMZN, NKE AAPL led the DJIA, 21 advancers, +6

HWM, PARA, CHRW, APTV led the SPX, 355 advancers 

MRNA, PDD, QCOM, TEAM led the NDX, 71 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

Nine of eleven sectors were higher on Thursday, led by XLK, XLRE and XLY.

The SPY MFC green line turned up at 36.6 and is short-term bullish.

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

Neutral sectors:  XLY, XLV, XLK,

Down trend sectors:  XLRE,

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

71 of 100 NDX stocks closed higher on Thursday.

32 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, TMUS, MDLZ, PANW, PDD, DDOG, MDB, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, PYPL, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 7

AAPL, ADI, AMZN, MELI, ON, QCOM, REGN,

Moving Below 30 DMA = 1

ADP,

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SPX Opens Lower to Trading Range to Press Conference Rally to Post Press Conference Selloff, Closes Lower... Utilities, Communication Services, Materials Lead Sectors...

© 2024

The SPX -17.30, 5,018, opened lower, traded in a range, rallied 50+ points during Powell’s FOMC press conference, reversed down after the end of the press conference into a symmetrical selloff and closed -0.34% lower.  The Fed left rates unchanged as expected, while maintaining their data dependent approach and view that monetary policy is sufficiently restrictive to achieve their 2% inflation goal over time.

NVDA -33.61, -3.89%, 830.41, opened lower and closed lower.

Earning reactions:

SMCI -120.50, -14.03%, on a negative earnings reaction after an EPS beat and revenue miss.

AMD -14.11, -8.91%, on a negative earnings reaction after a slight EPS and revenue beat, and in-line guidance.

AMZN +4.00, +2.29%, on a positive earnings reaction to better-than-expected EPS and revenues.

This Week 175 SPX eps reports: Thursday AMC – AAPL 

Thursday Q1 day 15 BMO: AME, APTV, BAX, BDX, BWA, CAH, CHD, CI, CMI, COP, D, EXC, HII, HWM, ICE, IQV, IRM, K, KIM, LIN, MCO, MRNA, PH, PNW, PWR, REGN, SO SWK, TFX, TRGP, VMC, WRK, XYL, ZBH, ZTS, AMC: AAPL, AEE, AES, AMGN, BKNG, CPT, CTRA, DLR, DVA, ED, EOG, EXPE, FRT, FTNT, HOLX, ILMN, IR, LNT, LYV, MNST, MSI, PXD, REG

First day reaction: Q1

Positive:  TECH, GRMN, AMCR, DD, VRSK, PFE, EXR, AMZN, ADP, PPL, PRU, CZR, LDOS, LLY, TT, GLW, ZBRA, MMM, NXPI, ACGL, ECL, PYPL, DPZ, ON, RVTY, RMD, GOOGL, BALL, KLAC, TROW, MHK, LHX, WDC, LYB, CL, MSFT,  NEM, TYL, CARR, TER, CMG, URI, UNP, KDP, DOV, FTI, ROL, MRK, NOC, TSCO, LRCX, AAL, HES, GEV, MO, WM, TSLA, HAS, WAB, CSGP, BSX, TXN, SYF, BIIB, HLT, EQT, EQR, T, APH, IPG, GL, GE, DHR, KMB, DGX, PHM, FI, GM, PM, UPS, NEE, TFC, AXP, FITB, GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 101

Neutral:  EIX, PSA, CTLT, WEC, ESS, INVH, MAR, PEG, MCD, CNP, KO, WELL, EG, AEP, APD, INCY, CVX, COF, AVB, TMUS, EMN, JNPR, DOX, F, RCL, SPGI, PCG, CMS, VLO, DTE, UHS, XEL, HON, DOW, STX, AVY, TMO, V, ETR, ARE BRO, NVR, RTX, LMT, HAL, PNR, HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 54

Negative: CVS, SBUX, SWKS, NCLH, SMCI, EL, CDW, GPN, AMD, JCI, GNRC, KHC, DAY, CLX, IDXX, BXP, YUM, COR, RSG, OKE FANG, SYK, MA, MDLZ, UDR, GEHC, TAP, MPC, FFIV, HUBB, IT, SBAC, PARA, PCAR, SYY, ADM, MLM, ETN, ITW, AMT, BEN, DXCM, INTC, FICO, AON, CINF, ABBV, VRSN, HIG, PSX, XOM, ROP, PFG, HCA, CNC, EW, RHI, CHTR, WY, AJG, FE, META, BMY, IBM, CAT, LUV, CMCSA, AOS, LH, WST, RJF, MOH, NOW, ORLY, WTW, IP, NDAQ, POOL, ALLE, GWW, ALGN, ODFL, TDY, FTV, ENPH, MAS, OTIS, GD, HUM, NSC, BG, IEX, STLD, BA, CB, TEL, CME, VLTO, BKR, LKQ, MSCI, NUE, IVZ, WRB, PKG, AMP, PEP, SHW, FCX, CDNS, VZ, NFLX, PPG, SLB, ISRG, LVS, EFX, SNA, BX, JBHT, TRV, PLD, ASML, USB, ABT, NTRS, BAC, JNJ, PNC, BK, JPM, BLK, C, KMX, FAST, DAL = 135

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

SPY down 1.63 at 500.35 on 80.2 million shares, above average volume

VIX down .26 at 15.39

QQQ down 3.07 at 421.52

JNJ, AMZN, BA, MMM led the DJIA, 15 advancers, +13

TECH, GRMN, AMCR, DD led the SPX, 240 advancers 

VRSK, SIRI, WBD, TTD led the NDX, 46 advancers

Up:  IWM, DIA,

Down:  SPY, QQQ,

Five of eleven sectors were higher on Wednesday, led by XLU, XLC and XLB.

The SPY MFC green line is pointed down at 35.6 and is short-term bearish.

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

Neutral sectors:  XLY, XLV, XLK,

Down trend sectors:  XLRE,

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

46 of 100 NDX stocks closed higher on Wednesday.

26 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, TMUS, MDLZ, PANW, PDD, DDOG, MDB, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, PYPL, AMGN, ADP, TTD, VRSK,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

ADP, TTD, VRSK,

Moving Below 30 DMA = 5

ADI, CEG, KHC, KLAC, ON,

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