DJI Closed at 54,349, an All-time Closing Higher as SPX, RUT, NDX Pause after a Four-day Rally...After-hours: SNDK, WDC Fall...

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SPX -12.97, 7,723, paused and pulled back above horizontal resistance after a strong four-day rally and closed above 7,700 for a second day, closing just below Tuesday’s all-time closing high.  The SPX breakout joins the previous DJI and RUT breakouts above June highs. 

DJIA closed at 54,349, a new all-time closing high.

Breadth weakened as decliners led on both the NYSE and the NASDAQ exchanges.

SPX advancers: CRL IFF AIZ NEM BKNG MCK LLY MAR AMGN CNC PSKY.

SPX decliners: PODD DVA CDW AMD EOG DINO SNDK WDC UBER CVS SBAC.

After-hours: Reports suggesting that SNDK and WDC guidance weren’t strong enough.  

SNDK -107.50, -7.96%, EPS $39.25 beats $34.45 estimate, sales $8.965B beat $8.394B estimate.

WDC -61.17, -11.78%, EPS $3.56 beats $3.29 estimate, sales $3.747B beat $3.692B estimate.

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Day 17 Q2 Earnings season:

Thursday BMO: BDX, CEG, COP, DDOG, EVRG, FISV, FOXA, HWM, KDP, KVUE, PH, RL, SRE, TAP, TRGP, VRTS, WBD, ZTS.

Thursday AMC: ABNB, AFL, AIG, AKAM, ED, GEN MCHP, MNST, RMD, RSG, TTD.

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SPCX, closed at 108.27, -13.61% earning after the close Tuesday $(0.09) beats $(0.24) estimate, sales $7.814B beat $6.934B estimate, but included an increase in AI spending. Private shares lock-up expire on August 6 with at least 911.5 million shares becoming free to trade.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY -0.20%, a pause day after a four-day advance, below average volume of 44.6 million shares.

VIX -0.69, 15.81,  

NDX -0.83% formed a dark cloud cover in a channel bounce pause.

DJI, 54,349 +0.49%, an all-time closing high.

Mega caps LLY, NVDA, WMT, AAPL, BRK/B, META, MU, AVGO rose and TSM, MSFT, AMZN, TSLA, GOOGL fell on Wednesday.

Up: DIA,

Down: SPY, IWM, QQQ,

The SPY MFC green line is up at 80, price-action paused on Wednesday, closed above horizontal resistance for a second day and is short-term bullish. +15.4

Five of eleven sectors were higher on Tuesday led by XLV, XLB and XLY. 

37 of 100 NDX stocks closed higher on Wednesday.

60 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, GILD, PDD, INTU, ROST, HON, ODFL, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MSFT, CMCSA, GEHC, AVGO, CEG, AMZN, CRWD, CSCO, FTNT, GOOGL, MDB, ORLY, PANW, CRWV, FER, LITE, NFLX, NVDA, PLTR, MSTR, NBIS, SBUX, TER, MPWR,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 1

MPWR,  

Moving Below 30 DMA = 2

ALAB, FANG,

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DJIA, SPX, RUT Make All-time Closing Highs, NDX Closed Higher...Technology Led Sectors...After-hours: AMD, SPCX Negative EPS Reactions...

 

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SPX +136.02, 7,736, broke above horizontal resistance and closed above 7,700 for the first time at a new all-time closing high.  SPX breakout joins the previous DJI and RUT breakouts above June highs. 

DJIA closed at 54,085, a new all-time closing high.

Breadth was positive as advancers led on both the NYSE and the NASDAQ exchanges. 

SPX advancers: PLTR ZBRA IT MRVL COHR SNDK INTC SMCI TER LDOS GLW.

SPX decliners: APTV NRG CMG VST ARE ROK GWW PLD FANG RVTY HUM.

After-hours: 

ANET +20.99, +10.02%, EPS $1.02 beats $0.89 estimate, sales $3.036B beat $2.818B estimate.

AMD -45.64, -8.80%, EPS $1.66 beats $1.61 estimate, sales $11.536B beat $11.284B estimate.

SPCX -9.35, -7.46%, $(0.09) beats $(0.24) estimate, sales $7.814B beat $6.934B estimate.

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Day 16 Q2 Earnings season:

Wednesday BMO: CDW, COR, CPAY CRL, CVS, DIS, GPN, IRM, KHC, LLY, NI, PODD, PSX, UBER, ZBH,

Wednesday AMC: ALB, ALL, APA, APP, ATO, AXON, CF, CPAY, DASH, EBAY, EXPE, HST, MCK, MET, MSI, NWSA, O, OXY, SNDK, SOLV, STE, TPL, WDC, XYZ

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SpaceX, SPCX, closed at 125.33, +9.43% formed a white candle.  First EPS today AMC.  Private shares lock-up expire on August 6 with at least 911.5 million shares becoming free to trade.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +1.42%, above average volume of 59.9 million shares.

VIX +.64, 16.50, a trader that hedges against large SPX exposure and wants to hedge the potential for a BO test would buy put options.

NDX +3.32% formed another white candle in a channel bounce continuation.

DJI, 54,085 +1.71%, an all-time closing high.

Mega caps MU, AVGO, TSM, NVDA, AAPL, TSLA, GOOGL, MSFT, BRK/B, WMT rose and META, LLY, AMZN fell on Tuesday.

Up: QQQ, IWM, SPY, DIA,

Down:

The SPY MFC green line is up at 64.6, price-action broke out, closed above horizontal resistance and is short-term bullish. +9.7

Seven of eleven sectors were higher on Tuesday led by XLK, XLB and XLI. 

82 of 100 NDX stocks closed higher on Tuesday.

61 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, GILD, PDD, FANG, INTU, ROST, HON, ODFL, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MSFT, CMCSA, GEHC, AVGO, CEG, AMZN, CRWD, CSCO, FTNT, GOOGL, MDB, ORLY, PANW, CRWV, FER, LITE, NFLX, NVDA, PLTR, ALAB, MSTR, NBIS, SBUX, TER,

NDX Stocks to Watch on Wednesday

Moving Above 30 DMA = 5

ALAB, MSTR, NBIS, SBUX, TER,

Moving Below 30 DMA = 2

PEP, TTWO,

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DJIA Closed New All-time High...NDX, SPX, RUT Closed Higher...After-hours: PLTR Postive EPS Reaction...

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DJIA closed at 53,178, a new all-time closing high.

SPX +110.78, 7,600, opened and closed higher just 9 points below its all-time closing high of 7,609 on June 2.  Mega caps gains from META, MSFT, GOOGL, AMZN and NVDA provided +85.93 SPX points on Monday.  SPX is at resistance with potential BO to a new all-time on Tuesday. 

Breadth strengthened as advancers led on both the NYSE and the NASDAQ exchanges. 

SPX advancers: FSLR COHR LITE ORCL AXON BLDR VRT ARES MHK BA BAX.

SPX decliners: MAR FICO EBAY CF CBOE FTI MCK CTVA LVS WDC BF/B.

After-hours: PLTR +18.72, +14.90%, CORRECTION: Palantir Technologies Q2 Adj. EPS $0.41 beats $0.35 estimate, sales $1.935B beat $1.802B estimate

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Day 15, Q2 Earnings season:

Tuesday BMO: ADM, AME, APO, APTV, BALL, BR, CAT, CMI, DD, DUK, EXPD, FIS, GWW, HISC, IDXX, IT, KIM, KMB, LDOS, MCD, MPC, MRK, NRG, PEG, PFE, PNW, Q, ROK, RVTY, SYY, TDG, WAT, ZBRA,

Tuesday AMC: AIZ, AMD, AMGN, ANET BKNG, DOC, CVA, DVN, EA, EMR, EOG, GILD, IFF, J, MOS, PRU, PSKY, WYNN,

Q2 First day reaction: +40%

Positive: TSN, ECHO, AMZN, DXCM, ETN, WY, CBOE, ERIE, ARES, MHK, LYB, MTD, FSLR, CVX, BEN, CHD, EME, LRCX, PWR, MSFT, HII, CMG, BAX, WTW, REGN, AVY, EQIX, VLO, YUM, SOLS, PTC, BMY LH, MA, APD, KKR, SBUX, ICE, IP,  GRMN, GEHC, CTSH, APH, EXE, BXP, MDLZ, ADP STX, IEX, F, BIIB, BH, IQV, INCY, SHW, NUE, RCL, PNR BRO KO, BA, UHS, ECL, PYPL, XYL, ITW, PCAR, AMT PFG, CDNS, BKR, SLB, DLR, VRSN, VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON, ROP, NSC, UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 112

Neutral: L, AEE, LNT, FRT, SATS, CL, D, XOM, FTNT, MGM, XEL, REG, AWK, V, CBRE, EXR, VRSK, VLTO, BSX, GNRC, TER, JCI, CNP, CMS, CNC, UDR, DTE, CINF, NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 41

Negative: MAR, GDDY, CTVA, COIN, AAPL, EIX, SYK, TROW, LIN, MRNA, LYV, ES, AJG, ABBV, CPT, AES, IR, FICO, CHRW, LKQ, NCLH, MO, LHX, META, VTR, MLM, ESS, EG, FTI, ALGN, PSA, HSY, ORLY, HOOD, AOS, EXC, TYL, VICI, CI, MAA, QCOM, BLDR, SO, INVH, TT, AEP,  LII, VRT, MAS, KLAC, FTV, NXPI, PPG, HUM, SWKS, SW, OMC, ETR, GD, WED, PG, ACGL, CSGP, VMC, ODFL, SWK, WM, AON, FE, GLW, CARR, UPS, TXT, SPGI, HUBB, HLT, IVZ, WELL DINO, FFIV, INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA, LUV, HBAN, CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF, KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 126

Bold is > +5% or -5%

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SpaceX, SPCX, closed at 114.53, +5.68% formed a bullish engulfing candle.  First EPS Tuesday AMC.  Private shares lock-up expire on August 6 with at least 911.5 million shares becoming free to trade.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +1.42%, above average volume of 59.9 million shares.

VIX -1.13, 15.86, lowest close since July 15.

NDX +1.78% formed a white candle in a channel bounce continuation.

DJI, 53,178 +1.32%, an all-time closing high.

Mega caps META, MSFT, GOOGL, AMZN, TSLA, NVDA, MU, AVGO, TSM, BRK/B rose and WMT, AAPL, LLY fell on Monday.

Up: QQQ, IWM, SPY, DIA,

Down:

The SPY MFC green line is up at 54.9, price-action is near horizontal resistance and is short-term bullish. +10.3

Eight of eleven sectors were higher on Monday led by XLC, XLI, XLY and XLK. 

70 of 100 NDX stocks closed higher on Monday.

58 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, GILD, PDD, FANG, INTU, ROST, HON, ODFL, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MSFT, CMCSA, GEHC, PEP, AVGO, CEG, AMZN, CRWD, CSCO, FTNT, GOOGL, MDB, ORLY, PANW, CRWV, FER, LITE, NFLX, NVDA, PLTR, TTWO,

NDX Stocks to Watch on Tuesday

Moving Above 30 DMA = 7

CRWV, FER, LITE, NFLX, NVDA, PLTR, TTWO,

Moving Below 30 DMA = 3

MNST, MPWR, SBUX,

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