SPX, NDX Close Higher, Form Bull Flag Setup...Utilities, Financial, Real Estate Lead Sectors Higher...NVDA Bounces Back...Q3 EPS Continue...

© 2024

The SPX +27.21, 5,842, opened flat, trended up, formed a piercing line candle and bull flag setup.  The SPX closed above 5,800 for the fourth time. 

The NDX +0.07%, opened flat, trended down, reversed, rallied and formed a hammer in a bull flag setup.  The NDX is also re-breakout setup.

NVDA +4.12, +3.13%, opened higher, traded in a range and closed higher in a bull flag setup and a horizontal re-breakout.  

First day reaction: Q3, Wednesday

Positive:  UAL, SYF, USB, PLD, JBHT, ABT, OMC, WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 15

Neutral:  STT, BAC, PGR, UNH = 4

Negative:  CFG, BK, DAL, DPZ = 4

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

SPY up 2.52 at 582.30, 30.6 million shares, below average volume, moved above, Oct 14, the low of the high day

VIX down 1.06 at 19.58

QQQ up .06 at 490.91

CSCO, V, UNH, DIS led the DJIA, 21 advancers, +6

UAL, DAL, MS, WBA led the SPX, 358 advancers

WBD, CEG, MU, DXCM, NVDA led the NDX, 54 advancers

Up:   IWM, DIA, SPY, QQQ,

Down: 

Nine of eleven sectors were higher on Wednesday, led by XLU, XLF and XLRE.

The SPY MFC green line is pointed down at 94.7 and is short-term bullish, -1.0, because price moved above the low of the high day, Oct. 14.

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

Neutral sectors: 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 a little

54 of 100 NDX stocks closed higher on Wednesday.

68 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, GEHC, TTD, ADSK, CSCO, BKNG, MAR, FAST, ARM, AVGO, CEG, CRWD, META, PCAR, ABNB, INTC, BKR, CMCSA, DDOG, CPRT, GOOGL, TMUS, ORLY, PDD, MU, SNPS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, SMCI, AAPL, ANSS, HON, PANW, ZS, AMZN, CSX, ODFL, QCOM, TTWO, MNST, VRTX, EXC, GFS, LIN, PEP, ROP, CHTR, CSGP, CTSH, EA, VRSK, ADI, DXCM, FANG, WBD, XEL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

ADI, DXCM, FANG, WBD, XEL,

Moving Below 30 DMA = 5

CDNS, COST, MDB, NFLX, SNPS,

Add Comments here:

SPX, NDX Close Lower on NVDA, Semiconductor, Technology Weakness...IWM Closes Higher...Real Estate, Consumer Staples, Utilities Lead Sectors Higher...

© 2024

The SPX -44.39, 5,815, opened slightly higher, reversed, trended down and closed lower in a counter-trend pullback.  The SPX closed above 5,800 for the third time. 

The NDX -1.37%, opened flat, trended down and closed lower.  The NDX was a breakout test today.

NVDA -4.47, -4.69%, opened flat, trended down and closed in a counter-trend pullback.  

First day reaction: Q3, Monday = 8

Positive:  WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 4

Neutral:  STT, BAC, PGR, UNH = 4

Negative:  BK, DAL, DPZ = 3

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

SPY down 4.54 at 579.78, 54.2 million shares, above average volume

VIX up .94 at 20.64

QQQ down 6.65 at 490.85

BA, WMT, MRK, JNJ led the DJIA, 15 advancers, -6

WBA, CCL, SCHW, NCLH led the SPX, 244 advancers

MRVL, ROST, MNST, MDLZ led the NDX, 40 advancers

Up:   IWM,  

Down:  SPY, DIA, QQQ,

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

The SPY MFC green line turned down at 95.7 and is counter-trend defensive. -1.5

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

Neutral sectors: 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 a little

40 of 100 NDX stocks closed higher on Tuesday.

68 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, GEHC, TTD, ADSK, NFLX, CSCO, BKNG, MAR, FAST, ARM, AVGO, CEG, CRWD, META, PCAR, ABNB, INTC, BKR, CMCSA, DDOG, CPRT, GOOGL, TMUS, ORLY, PDD, MU, SNPS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, SMCI, AAPL, ANSS, CDNS, HON, PANW, SNPS, ZS, AMZN, CSX, ODFL, QCOM, TTWO, MDB, MNST, VRTX, EXC, GFS, LIN, PEP, ROP, CHTR, CSGP, CTSH, EA, VRSK, COST,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

COST,

Moving Below 30 DMA = 15

ADI, AMAT, AMD, ASML, CDW, DXCM, FANG, ISRG, KLAC, LRCX, MCHP, MELI, NXPI, ON, TXN,

Add Comments here: 

SPX, DJIA, NVDA Open Higher Make New All-time Closing High...Technology, Utilities, Real Estate Lead Sectors

© 2024

The SPX +44.82, 5,859, opened higher, trended up and closed at a new all-time-closing high.  The SPX closed above 5,800 for the second time.  The DJI closed at a new all-time-closing high.

The NDX +0.82%, opened higher, trended up and closed higher.  The NDX was a short-term breakout today.

NVDA +3.27, +2.43%, opened higher, trend higher, closed at a new all-time closing high.  

First day reaction: Q3

Positive:  FAST, WFC, JPM, BLK, = 4

Neutral:  = 0

Negative:  BK, DAL, DPZ = 3

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

SPY up 4.74 at 584.32, 36.2 million shares, below average volume

VIX down .76 at 19.70

QQQ up 4.14 at 497.50

AAPL, MCD, TRV, GS led the DJIA, 21 advancers, -7

VST, QCOM, HUM, DAL led the SPX, 398 advancers

ARM, MRVL, QCOM, AMAT led the NDX, 75 advancers

Up:  QQQ, SPY, IWM, DIA,  

Down: 

Ten of eleven sectors were higher on Monday, led by XLK, XLU and XLRE.

The SPY MFC green line is pointed up at 97.2 and is short-term bullish. +3.5

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

Neutral sectors: 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

75 of 100 NDX stocks closed higher on Monday.

82 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, GEHC, TTD, ADSK, NFLX, CSCO, BKNG, MAR, FAST, AMD, ARM, AVGO, CEG, CRWD, META, PCAR, ABNB, INTC, BKR, CMCSA, DDOG, CPRT, GOOGL, TMUS, AMAT, ORLY, PDD, LRCX, MU, SNPS, ADP, ADI, ILMN, KLAC, MRVL, NVDA, FANG, LULU, TEAM, SMCI, AAPL, ANSS, ASML, CDNS, CDW, DXCM, HON, PANW, SNPS, ZS, AMZN, CSX, NXPI, ODFL, QCOM, TTWO, MDB, MNST, VRTX, EXC, GFS, ISRG, LIN, MCHP, MELI, PEP, ROP, TXN,  CHTR, CSGP, CTSH, EA, ON, VRSK,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 6 

CHTR, CSGP, CTSH, EA, ON, VRSK,

Moving Below 30 DMA = 1

AMGN,

Add Comments here: