SPX, NDX Close Lower as Mega-Caps Pullback...Real Estate, Financials, Energy Lead Sectors...After-hours: ROST Up, INTU Down after EPS Reports...

© 2024

The SPX -50.21, 5,570, opened higher, but sold off after comments from the Fed’s Harker and a mixed PMI Composite Flash report and a better-than-expected Existing Home Sales report.  The VIX opened higher and closed higher.

Powell will speak at the annual Jackson Hole Economic Symposium on Friday at 10 am ET.  His comments are expected to set the stage for a potential rate cut at the next FOMC announcement on September 18.

The NDX -1.68%, opened slightly higher, traded in a range and closed lower.

NVDA -4.76, -3.70%, after Rosenblatt maintains its Buy rating and its $200 price target.  Opened higher and reversed along with the broad market pullback after the first 30 minutes of trading.  Reports EPS Aug 28 AMC.

NDSN +8.25, +3.33%, on a positive EPS reaction after reporting Wednesday AMC.

After-hours:  ROST +8.50, +5.57%, rose on a positive earnings reaction INTU -15.47, -2.33%, fell on a negative earnings reaction after the close.

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

SPY down 4.40 at 556.22, 56.0 million shares, average volume, C-pattern BO continuation pause

VIX up 1.28 at 17.55

QQQ down 7.65 at 474.85

JPM, AXP, JNJ, WMT led the DJIA, 9 advancers, -12

BEN, NDSN, CNP, ARE led the SPX, 209 advancers

GILD, PDD, BKNG, PAYX led the NDX, 21 advancers

Up: 

Down:  DIA, SPY, IWM, QQQ,

Four of eleven sectors were higher on Thursday, led by XLY, XLB and XLU.

The SPY MFC green line is pointed up at 86.7 and is short-term bullish.

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 up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

21 of 100 NDX stocks closed higher on Thursday.

61 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, AMD, ASML, CPRT, BKNG, CDW, CSGP, LULU,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 12

ADI, AMAT, AMGN, AMZN, CMCSA, DDOG, FAST, MU, ON, SNPS, TSLA, VRTX,

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SPX, NDX Close Higher after Fed Minutes...Consumer Discretionary, Basic Materials, Utilities Lead Sectors...KEYS, TGT, TJX Lead SPX on Positive EPS Reactions...

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The SPX +23.73, 5,620, opened flat, traded in a range ahead of Fed minutes release at 2 pm ET and closed slightly higher.  SPX closed just 47 points below its all-time closing high on July 16.  The VIX opened higher and closed higher.

Fed minutes indicated that a vast majority of participants indicated that if data continued to be about as expected that it would likely be appropriate to ease policy in September.  The minutes were consistent with market expectations. 

The NDX +0.53%, opened slightly higher, traded in a range and closed higher.

NVDA +1.25, +0.98%, after HSBC reiterated its Buy rating and raised its price target to $145 from $135. Reports EPS Aug 28 AMC.

KEYS +19.24, +13.88%, TGT +16.04, +11.20%, TJX +6.92, +13.886.11%, led the SPX on positive EPS reactions on Wednesday.

After-hours:  A +2.81, +2.01%, SNPS +7.82, +1.38%, rose on positive earnings reactions after the close.

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

SPY up 1.92 at 560.62, 41.4 million shares, below average volume, C-pattern BO continuation

VIX up .39 at 16.27

QQQ up 2.24 at 482.50

INTC, MCD, MMM, DIS led the DJIA, 21 advancers, +3

KEYS, TGT, TJX, ALB led the SPX, 400 advancers

ROST, TTWO, MDB, CEG led the NDX, 81 advancers

Up:  IWM, QQQ, SPY, DIA,

Down:   

Ten of eleven sectors were higher on Wednesday, led by XLY, XLB and XLU.

The SPY MFC green line is pointed up at 85.6 and is short-term bullish.

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 up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

81 of 100 NDX stocks closed higher on Wednesday.

73 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, AMD, ASML, SNPS, VRTX, CPRT, ADI, AMAT, AMGN, AMZN, BKNG, CDW, CSGP, DDOG, FAST, LULU, MU, TSLA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

ADI, AMAT, AMGN, AMZN, BKNG, CDW, CSGP, DDOG, FAST, LULU, MU, TSLA,  

Moving Below 30 DMA = 1

CHTR,   

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SPX, NDX Pause after Eight-Day Rally...Consumer Staples, Health Care, Real Estate Lead Sectors...PANW Leads SPX, NDX on Positive EPS Reaction...

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The SPX -11.13, 5,597, opened slightly lower, traded in a range above Monday’s large white candle S1 level and closed slightly lower.  A classic pause day after a strong 8-day run.  SPX closed just 70 points below its all-time closing high on July 16.  The VIX opened higher and closed higher.

The NDX -0.24%, opened slightly lower, traded in a range above Monday’s large white candle S1 level and closed slightly lower after a strong 8-day run.

NVDA -2.75, -2.12%, after Oppenheimer stated it expects upside to Q2 results and Q3 guidance and reiterated its Outperform rating and price target of $150. Reports Aug 28 AMC.

PANW +24.65, +7.18%, led both the SPX and NDX on a positive EPS reaction as $1.51 beat $1.41 estimate and sales $2.189 billion beat $2.162 billion.

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

SPY down .91 at 558.70, 33.6 million shares, below average volume, C-pattern BO continuation pause

VIX up 1.23 at 15.88

QQQ down 1.01 at 480.26

PG, HD, WMT, MSFT led the DJIA, 18 advancers, -7

PANW, DRI, LLY, INCY, ALB led the SPX, 170 advancers

PANW, PYPL, TTWO, WBD led the NDX, 38 advancers

Up: 

Down:  DIA, SPY, QQQ, IWM,

Three of eleven sectors were higher on Tuesday, led by XLP, XLV and XLRE.

The SPY MFC green line is pointed up at 79.4 and is short-term bullish.

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

Neutral sectors:  XLE, XLY,

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

38 of 100 NDX stocks closed higher on Tuesday.

62 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, AMD, ASML, SNPS, VRTX, CPRT,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

CPRT,   

Moving Below 30 DMA = 1

ADI,  

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SPX, NDX Closed Higher on Broad Rally...Technology, Consumer Discretionary, Communication Services Led all Sectors Higher...After-hours: PANW up on Positive EPS Reaction...

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The SPX +54.00, 5,608, opened flat, trended up and closed at its highest level in 23 days.  Today was the fifth highest close for the SPX, just 59 points below its all-time closing high on July 16.  The VIX opened slightly higher, reversed and closed lower.

The NDX +1.32%, opened flat, trended up and closed higher eighth straight day.

NVDA +5.42, +4.35%, after GS reiterated its Buy rating and price target of $135.

After-hours: PANW +8.84, +2.57%, rose on a positive EPS reaction as $1.51 beat $1.41 estimate and sales $2.189 billion beat $2.162 billion.

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

SPY up 5.30 at 559.61, 39.0 million shares, below average volume, C-pattern BO continuation

VIX down .15 at 14.65

QQQ up 6.24 at 481.27

MCD, INTC, AMGN, DIS led the DJIA, 25 advancers, +3

EQT, AMD, DRI, NVDA, ALB led the SPX, 413 advancers

AMD, NVDA, ILMN, DXCM led the NDX, 92 advancers

Up:  QQQ, IWM, SPY, DIA,

Down: 

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

The SPY MFC green line is pointed up at 73.3 and is short-term bullish.

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

Neutral sectors:  XLE, XLY,

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

92 of 100 NDX stocks closed higher on Monday.

62 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, ADI, AMD, ASML, SNPS, VRTX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

ADI, AMD, ASML, SNPS, VRTX,   

Moving Below 30 DMA = 2

CDW, FAST,

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SPX, NDX Close Slightly Higher on Expiration Friday...Financial, Utilities, Communication Services Lead Sectors...

© 2024

The SPX +11.03, 5,554, opened lower, reversed on a lighter volume expiration Friday and closed at its highest level in 18 days.  The VIX opened slightly higher, reversed and closed lower.

The NDX +0.09%, opened lower, traded in a range and closed slightly higher.

AMAT -3.93, -1.86%, reported better-than-expected EPS and revenue Thursday after the close, but moved lower after it issued guidance in a range.

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

SPY up 1.24 at 554.31, 44.4 million shares, below average volume, C-pattern BO continuation

VIX down .43 at 14.80

QQQ up .61 at 475.03

BA, CSCO, VZ, MCD led the DJIA, 22 advancers, -4

DXCM, ULTA, TPR, WST, BBWI led the SPX, 324 advancers

TEAM, DXCM, PDD, TTWO led the NDX, 58 advancers

Up:  DIA, IWM, SPY, QQQ,

Down: 

Eight of eleven sectors were higher on Friday, led by XLF, XLU and XLC.

The SPY MFC green line is pointed up at 63.7 and is short-term bullish.

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

Neutral sectors:  XLE, XLY,

Down trend sectors: 

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: Up

58 of 100 NDX stocks closed higher on Friday.

59 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS, CDNS, CDW, CEG, FAST, TTWO,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 5

CDNS, CDW, CEG, FAST, TTWO,  

Moving Below 30 DMA = 0

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SPX, NDX Close Higher...Consumer Discretionary, Technology, Basic Materials Lead Sectors...CSCP. WMT, DE Positive Earnings Reactions...After-hours: AMAT Lower...

© 2024

The SPX +88.01, 5,543, gapped higher, after better-than-expected Retail Sales report created a catalyst of buying and the SPX closed at its highest level in 17 days.  The VIX opened lower and made it lowest close in 17 days.

The NDX +2.46%, opened higher, trended higher as all seven mega-caps from AAPL to TSLA closed higher.

CSCO +3.09, +6.80%, WMT +4.52, +6.58%, and DE +21.98, +6.26%, were the largest SPX earnings gainers on Thursday.

After-hours: AMAT -6.53, -3.08%, reported better-than-expected EPS and revenue but moved lower after gaining +5.06% on Thursday.

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

SPY up 9.32 at 553.07, 60.7 million shares, above average volume, C-pattern signal

VIX down .96 at 15.23

QQQ up 11.69 at 474.42

CSCO, WMT, NKE, BA led the DJIA, 26 advancers, +3

ULTA, SMCI, ALB, PARA led the SPX, 416 advancers

SMCI, MRVL, MU, LULU led the NDX, 93 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

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

The SPY MFC green line is pointed up at 56 and is short-term bullish.

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

Neutral sectors:  XLE, XLY,

Down trend sectors: 

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: Up

93 of 100 NDX stocks closed higher on Thursday.

54 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 15

AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS,

Moving Below 30 DMA = 0

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