SPX Closes Higher for Bounce Day 2...Communication Services, Technology, Industrials lead Sectors...After-hours: TSLA Up after ETS Miss...

© 2024

The SPX +59.95, 5,070.55, opened higher, trended up and closed higher above the high of the low day on a bounce continuation move.  

GL +9.37, +14.11%, 75.76, led the SPX after a positive earnings reaction. 

NVDA +29.058, +3.65%, 824.23, opened higher, trended up and closed higher with a close above the high of the following day which was a bullish harami candle.

After-hours: TSLA +19.28, +13.33%, 163.96, a positive reaction after an EPS and revenue miss.

Wednesday Q1 day 9: BMO: APH, AVY, BA, BG, BIIB, BSX, CME, ETR, FTV, GD, HAS, HLT, HUM, IPG, MAS, NSC, ODFL, OTIS, SYF, T, TDY, TEL, TMO, WAB, AMC: ALGN, CMG, F, IBM, LRCX, META, MOH, NOW, ORLY, RJF, ROL, TER, TYL UHS URI, WM

This week: META on Wed…GOOGL, MSFT on Thur.

First day reaction: Q1

Positive:  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 = 31

Neutral:  ARE BRO, NVR, RTX, LMT, HAL, PNR, HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 15

Negative:  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 = 36

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

SPY up 5.93 at 505.65 on 64.6 million shares, slightly below average volume,

VIX down 1.20 at 15.74

QQQ up 6.25 at 425.07

VZ, AXP, MSFT, GS led the DJIA, 23 advancers, -2

GL, GE, GEV, DHR, SMCI led the SPX, 388 advancers 

MDB, PANW, NFLX, TTD, NVDA led the NDX, 84 advancers

Up:   IWM, QQQ, SPY, DIA,

Down: 

Ten of eleven sectors were higher on Tuesday, led by XLC, XLK and XLI

The SPY MFC green line is pointed up at 14.1 and is short-term bullish.

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

Neutral sectors:  XLY, XLV,

Down trend sectors:  XLK, XLRE,

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: Up

84 of 100 NDX stocks closed higher on Tuesday.

22 NDX stocks are above their 30 DMA:  CTAS, FANG, AZN, GOOGL, KHC, KDP, XEL, PEP, AEP, EXC, TMUS, ADP, CEG, MDLZ, PANW, PDD, AMGN, DDOG, MDB, MRNA, ODFL, TEAM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

AMGN, DDOG, MDB, MRNA, ODFL, TEAM,

Moving Below 30 DMA = 0

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SPX Higher Close as Buyers Control Monday...Financial, Consumer Staples, Utilities Lead all Sectors Higher...GS Leads DJIA...Earnings Season Accelerates with 162 SPX Companies to Report...

© 2024

The SPX +43.37, 5,010.60, opened higher, trended up and closed higher just below the high of the low day.  

GS +13.35, +3.30%, 417.35, led the DJIA after decision to sell their Robo-Investing for the masses business unit. 

NVDA +33.18, +4.35%, 762.00, opened higher, trended up and closed higher after a selloff in sympathy with SMCI on Friday.

Tuesday Q1 day 8: BMO: DGX, DHR, FCX, FI, GE, GM, HAL, IVZ, KMB, LKQ, LMT, MSCI, NEE NVR, PEP, PHM, PM, PNR, RTX, SHW, UPS, WRB, AMC: BKR, CB, CSGP, ENPH, EQR, EQT, IEX, STLD, STX, TSLA, TXN, V, VLTO

This week: TSLA on Tue…META on Wed…GOOGL, MSFT on Thur., Total = 162 SPX

First day reaction: Q1

Positive:  TFC, AXP, FITB, GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 20

Neutral:  HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 8

Negative:  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 = 25

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

SPY up 4.56 at 499.72 on 67.8 million shares, average volume,

VIX down 1.77 at 16.94

QQQ up 4.17 at 418.82

GS, JPM, PG, AMZN led the DJIA, 25 advancers, +4

F, UAL, NVDA, ENPH, DVA led the SPX, 411 advancers 

PDD, NVDA, MDB, MRNA led the NDX, 85 advancers

Up:   IWM, QQQ, SPY, DIA,

Down: 

All eleven sectors were higher on Monday, led by XLF, XLP and XLU

The SPY MFC green line turned up at 7.7 and is short-term bullish.

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

Neutral sectors:  XLY, XLV,

Down trend sectors:  XLK, XLRE,

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 a little

85 of 100 NDX stocks closed higher on Monday.

16 NDX stocks are above their 30 DMA:  CTAS, FANG, AZN, GOOGL, KHC, KDP, XEL, PEP, AEP, EXC, TMUS, ADP, CEG, MDLZ, PANW, PDD,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

ADP, CEG, MDLZ, PANW, PDD,

Moving Below 30 DMA = 0

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SPX Falls as Semiconductor and Technology Stocks Continue to Slide...Utilities, Financial, Energy Lead Sectors...NFLX Lower after EPS Beat...

© 2024

The SPX -43.89, 4,967.23, opened lower, trended down and closed lower for a sixth day. 

AXP +13.54, +6.23%, 231.04, led the DJIA after a positive earnings reaction. 

NVDA -84.71, -10.00%, 762.00, opened lower, trended down and closed lower.  Semiconductor and technology stocks accelerated their downward momentum on Friday.

NFLX -55.52, -9.09%, 581.49, after earnings and revenue beat, announces changes to reporting of quarterly membership numbers starting with Q1 2025 earnings.

SMCI -214.83, -23.14%, 713.65, was the largest percentage decliner in the SPX.

Monday Q1 day 7: BMO: TFC, VZ, AMC: AMP, ARE, BRO, CDNS, GL, NUE, PKG

First day reaction: Q1

Positive:  AXP, FITB, GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 19

Neutral:  HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 8

Negative:  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 = 24

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

SPY down 4.36 at 495.16 on 102.2 million shares, above average volume,

VIX up .71 at 18.71

QQQ down 8.76 at 414.65

AXP, JPM, AMGN, KO led the DJIA, 21 advancers, +6

PARA, FITB, KMI, BAC led the SPX, 335 advancers 

WBA, ADSK, EXC, AMGN led the NDX, 39 advancers

Up:   DIA, IWM,

Down:  SPY, QQQ,

Six of eleven sectors were higher on Friday, led by XLU, XLF and XLE.

The SPY MFC green line is pointed down at 4.7 and is short-term bearish.

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

Neutral sectors:  XLY, XLV, 

Down trend sectors:  XLK, XLRE,

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

39 of 100 NDX stocks closed higher on Friday.

11 NDX stocks are above their 30 DMA:  CTAS, FANG, AZN, GOOGL, KHC, KDP, XEL, PEP, AEP, EXC, TMUS,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

AEP, EXC, TMUS,

Moving Below 30 DMA = 4

CEG, DDOG, MU, PANW,

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SPX Closes Lower...Utilities, Communication Services, Consumer Staples Lead Sectors...Selling Pressure and Fed Speak Continue...GPC Leads SPX on Positive EPS Reaction...After-hours: NFLX Lower after Earnings...

© 2024

The SPX -11.09, 5,011.12, opened higher, reversed, traded in a range and closed lower for a fifth day.

Fedspeak from Bowman, Williams, Bostic and Kashkari continued to guess the Fed won’t cut rates until later this year or next.  Their repeated comments correlate with selling pressure again on Thursday.

Friday Q1 day 6: BMO: AXP, FITB, HBAN, PG, RF, SLB, AMC:

First day reaction: Q1

Positive:  GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 17

Neutral:  CSX, DHI, KEY, PGR, WFC = 5

Negative:  LVS, EFX, SNA, BX, JBHT, TRV, PLD, ASML, USB, ABT, NTRS, BAC, JNJ, PNC, BK, JPM, BLK, C, KMX, FAST, DAL = 20

GPC +16.16, +11.22%, 160.23, led the SPX after a positive earnings reaction. 

NVDA +6.36, +0.76%,846.71, opened higher, traded in range and closed higher as many semiconductors (TSM, MU, AMAT, LRCX, ASML, SMH and more) moved lower on a continuation selloff after ASML earnings miss Tuesday evening.

After-hours:  NFLX -29.66, -4.85%, 581.49, after earnings and revenue beat, announces changes to reporting of quarterly membership numbers starting with Q1 2025 earnings. 

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

SPY down 1.03 at 499.52 on 74.5 million shares, average volume,

VIX down .21 at 18.00

QQQ down 2.43 at 423.41

UNH, TRV, NKE, VZ led the DJIA, 15 advancers, +4

GPC, UAL, EL, AAL led the SPX, 260 advancers 

PEP, AEP, CMCSA, META led the NDX, 35 advancers

Up:   DIA,

Down:  IWM, SPY, QQQ,

Six of eleven sectors were higher on Thursday, led by XLU, XLC and XLP

The SPY MFC green line is pointed down at 9.9 and is short-term bearish.

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

Neutral sectors:  XLV, XLRE,

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

35 of 100 NDX stocks closed higher on Thursday.

12 NDX stocks are above their 30 DMA:  CTAS, CEG, FANG, MU, AZN, GOOGL, KHC, KDP, XEL, PEP, DDOG, PANW,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

DDOG, PANW,  

Moving Below 30 DMA = 1

AMZN,

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SPX Opens Higher, Closes Lower...Utilities, Consumer Staples, Financial Lead Sectors...UAL Leads SPX on Positive EPS Reaction...

© 2024

The SPX -29.20, 5,022.21, opened higher after UAL, CFG, OMC reported EPS with positive earnings reactions and reversed down after the first seventeen minutes of trading. 

Since last Friday, Middle East concerns, Powell’s comments on Tuesday regarding inflation and interest rates and today’s weakness in semiconductor and technology stocks after ASML missed earnings expectations last night have collectively weighed on the SPX, -176 points, -3.4%, since last Thursday’s close.  The 4.4% pullback since the SPX’s closing high on March 28 is the largest pullback both in time (13 trading days) and size -4.4%, it is only a modest 21% retracement of the 1,145-point 28% rally from the Oct 27 SPX low.

Thursday Q1 day 5: BMO: BX, CMA, DHI, ELV, GPC, KEY, MMC, SNA, AMC: ISRG, NFLX, PPG

First day reaction: Q1

Positive:  UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 10

Neutral:  PGR, WFC = 2

Negative:  JBHT, TRV, PLD, ASML, USB, ABT, NTRS, BAC, JNJ, PNC, BK, JPM, BLK, C, KMX, FAST, DAL = 16

UAL +7.24, +17.45%, 48.74, led the SPX after a positive earnings reaction. 

NVDA -33.80, -3.87%, 840.35, opened higher, reversed as most semiconductors (AMD, AMAT, LRCX, KLAC, SMH and more) moved lower after ASML earnings missed on EPS and revenues.

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

SPY down 2.98 at 500.55 on 75.9 million shares, average volume,

VIX down .19 at 18.21

QQQ down 5.26 at 425.84

UNH, GS, MCD, NKE led the DJIA, 11 advancers, +0

UAL, AAL, GL, DAY led the SPX, 152 advancers 

AEP, EXC, LULU, KDP led the NDX, 26 advancers

Up:   

Down:  DIA, SPY, IWM, QQQ,

Four of eleven sectors were higher on Wednesday, led by XLU, XLP and XLF

The SPY MFC green line is pointed down at 22.4 and is short-term bearish.

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

Neutral sectors:  XLV, XLRE,

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

26 of 100 NDX stocks closed higher on Wednesday.

11 NDX stocks are above their 30 DMA:  CTAS, AMZN, CEG, FANG, MU, AZN, GOOGL, KHC, KDP, XEL, PEP,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

PEP,

Moving Below 30 DMA = 8

AMAT, ASML, AVGO, DDOG, DXCM, LRCX, NFLX, ODFL,

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