SPX Closed Flat after Trading Lower Following Reports on Ukraine War...Health Care, Energy, Basic Materials Lead Sectors...After-hours: NVDA Lower after Earnings Beat...

© 2024

SPX +0.13, 5,917, sold off rapidly near the open after a report that Ukraine fired UK Storm Shadow missiles into Russia. SPX fell -.95% during the first hour of trading, traded in a sideways range over the next four hours, rallied during the final 90 minutes of trading to close slightly higher.

NDX -0.08%, formed a dragonfly doji in its bull flag pattern.  

Fed speakers Wednesday included Michael Barr, Lisa Cook, Michelle Bowman and Susan Collins.

TSLA -3.97, -1.15%, opened $1.00 lower, sold off in the first two hours of trading, recovered to close slightly lower.   

After-hours: NVDA -3.69, -2.53%, reported an earnings and revenue beat, raised guidance and traded lower after the close.  /NQ futures -0.45% in evening trade.

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

SPY up .20 at 590.50, 50.0 million shares, above average volume,

VIX up .81 at 17.16

QQQ down .29 at 503.17

UNH, AMGN, IBM, DIS led the DJIA, 18 advancers, +6         

KEYS, HUM, EQT, SW led the SPX, 311 advancers

CSGP, WBD, TTD, BKR, ABNB led the NDX, 62 advancers

Up:  DIA, IWM, SPY,

Down:  QQQ,

The SPY MFC green line is pointed down at 68.2 and is defensive. -4.2.

Six of eleven sectors were higher on Wednesday, led by XLV, XLE and XLB. 

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

62 of 100 NDX stocks closed higher on Wednesday.

53 NDX stocks are above their 30 DMA:  DASH, ADSK, CSCO, BKNG, FAST, TMUS, ADP, MRVL, NVDA, TEAM, PANW, TTWO, EA, ISRG, NFLX, BKR, TSLA, GOOGL, ODFL, CDNS, CHTR, VRSK, WBD, XEL, AMZN, ANSS, CRWD, INTU, ZS, PCAR, COST, CTAS, GFS, INTC, MAR, MDB, WDAY, CPRT, FTNT, HON, PYPL, DXCM, SBUX, ADBE, DDOG, MNST, SNPS, AAPL, CSGP, CMCSA, CTSH, LULU, TTD,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

AAPL, CSGP, CMCSA, CTSH, LULU, TTD,

Moving Below 30 DMA = 2

CSX, ORLY,

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SPX, NDX Bounced, Closed Higher for a Second Day...Technology, Utilities, Communication Services Lead Sectors...Bull Flag Setups...NVDA Reports EPS Wednesday AMC...

© 2024

SPX +23.36, 5,916, rose after a lower open following comments from Russia regarding its updated nuclear doctrine.  NDX +0.71%, for a second day, formed a bullish engulfing candle that confirmed Monday’s bullish harami.

Bull flag bounces on Tuesday included:  NVDA, QQQ, SPY, TEAM, DASH, CTAS, AMZN

Bull flag bounce continuations on Tuesday: TSLA, NFLX, CRWD, TTWO, GOOGL

Bull Flag Setups: MAR, HON, PYPL, FTNT

NVDA +6.86, +4.89%, opened higher, in a bull flag bounce as Truist raised its price target from $148 to $167, Stifel raised its price target from $165 to $180, and Fubon raised its price target from $170 to $200.  NVDA will report earnings tomorrow, Wednesday, Nov 20 after the close.

TSLA +7.26, +2.14%, opened lower, reversed, rose in a bull flag bounce continuation pattern.   

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

SPY up 2.15 at 590.30, 49.1 million shares, above average volume,

VIX up .77 at 16.35

QQQ up 3.44 at 503.46

NVDA, WMT, AMZN, BA led the DJIA, 12 advancers, -3       

SMCI, VST, NVDA, GEV, UAL led the SPX, 189 advancers

SMCI, DDOG, NVDA, TEAM, ARM led the NDX, 49 advancers

Up:  IWM, QQQ, SPY,

Down:  DIA,

The SPY MFC green line is pointed down at 72.4 and is defensive. -4.3.

Six of eleven sectors were higher on Tuesday, led by XLK, XLU and XLC. 

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

49 of 100 NDX stocks closed higher on Tuesday.

49 NDX stocks are above their 30 DMA:  DASH, ADSK, CSCO, BKNG, FAST, TMUS, ADP, MRVL, NVDA, TEAM, PANW, TTWO, EA, ISRG, NFLX, BKR, TSLA, GOOGL, ODFL, CDNS, CHTR, VRSK, WBD, XEL, AMZN, ANSS, CRWD, INTU, ZS, PCAR, COST, CSX, CTAS, GFS, INTC, MAR, MDB, WDAY, CPRT, FTNT, HON, ORLY, PYPL, DXCM, SBUX, ADBE, DDOG, MNST, SNPS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

DDOG, MNST, SNPS,

Moving Below 30 DMA = 4

CMCSA, DLTR, LULU, TXN,  

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SPX, NDX Closed Higher as Buyers Returned on Monday...Energy, Communication Services, Consumer Discretionary Led Sectors Higher...SMCI Led Both the SPX, NDX on Monday...

© 2024

Breadth was modestly stronger as the SPX rose +23.00, 5,893, after markets continued Friday’s modest afternoon rally.  Monday’s trading suggests that selling from Powell’s Thursday comment exhausted on Friday.  NDX +0.71% closed higher, and formed a bullish harami candle in its bull flag price pattern.

Bull flag bounces on Monday included:  TSLA, NFLX, BKNG

Bull flag setups for Tuesday: MAR, CTAS, TMUS, BKR, HON, FAST, CSCO, PYPL, FTNT

ADBE -3.86, -0.77%, drifted slightly on Monday.  Watch for a potential on Tuesday.

TSLA +18.02, +5.62%, gapped up above the high of the low day of its four-day bull flag pattern, continuing it previous up trend. 

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

SPY up 2.40 at 588.15, 37.0 million shares, below average volume,

VIX down .56 at 15.58

QQQ up 3.45 at 500.02

BA, IBM, VZ AAPL led the DJIA, 15 advancers, +3                

SMCI, HSIC, TSLA, CVS, ENPH led the SPX, 323 advancers

SMCI, MRNA, TSLA, MCHP led the NDX, 67 advancers

Up:  QQQ, SPY, IWM,

Down:  DIA,

The SPY MFC green line is pointed down at 76.7 and is defensive. -6.3.

Ten of eleven sectors were higher on Monday, led by XLE, XLC and XLY. 

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

67 of 100 NDX stocks closed higher on Monday.

50 NDX stocks are above their 30 DMA:  DASH, ADSK, CSCO, BKNG, FAST, TMUS, ADP, MRVL, NVDA, LULU, TEAM, PANW, TTWO, EA, ISRG, NFLX, CMCSA, BKR, TSLA, GOOGL, ODFL, CDNS, CHTR, VRSK, WBD, XEL, AMZN, ANSS, CRWD, INTU, ZS, PCAR, COST, CSX, CTAS, GFS, INTC, MAR, MDB, WDAY, CPRT, FTNT, HON, ORLY, PYPL, DXCM, SBUX, ADBE, DLTR, TXN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

DLTR, TXN,  

Moving Below 30 DMA = 1

PAYX,

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