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 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 +.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 is near horizo6tal 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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SPX, NDX, DJI Closed Higher on Channel Bounce Continuation...RUT Closed Lower...Breadth Weakened...Mega-cap Day One Reactions Split...

 

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SPX +52.09, 7,474, opened and closed higher on Friday.  Mega cap earnings from META, MSFT, AAPL and AMZN split with day one reactions: two positive and two negative.  SPX is back above the middle of its eight-week trading range at 62% of the channel up from its support low.  More than 50% of SPX earnings reports are now completed and six of the original mega caps are complete with NVDA to report on August 26. 

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

SPX advancers: AMZN DXCM ETN GOOGL WY VRT COHR ANET FTNT SOLS.

SPX decliners: GDDY CTVA COIN AAPL EIX NXPI SYK TROW LIN MU IP.

AAPL -24.52, -7.35%, EPS $2.02 beats $1.89 estimate, sales $109.417B beat $108.651B estimate. 

AMZN +36.08, +15.32%, EPS $5.75 beats $1.82 estimate, sales $200.606B beat $196.460B estimate.

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Day 14, Q2 Earnings season:

Monday BMO: ECHO, L, MAR, TSN,

Monday AMC: AES, ARE, CLX, FANG, OKE, ON, PLTR, SBAC, TKO, VRTX, WMB,

Q2 First day reaction: +40%

Positive: 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, = 110

Neutral: 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 = 40

Negative: 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 = 125

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 143.73, -3.54% on its sixteenth trading day.  IPO was at 149.  SK Hynix is a profitable company with over $65 billion in revenues (larger than SPCX) and $28 billion in annual profit.  The ADR is speculative because as a new IPO it does not have a track record to evaluate. 

SpaceX, SPCX, closed at 108.37, -3.41% formed a red candle.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +0.72%, above average volume of 62.4 million shares.

VIX -1.10, 15.99, lowest close since July 15.

NDX +0.60% formed a black candle in a channel bounce continuation.

DJI, 52,485 +0.52%, just 1.08% below its all-time closing high on July 6.

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

Up: SPY, QQQ, DIA,

Down: IWM,

The SPY MFC green line is up at 44.6, price-action closed above the high of the low day and is short-term bullish. +5.0

Four of eleven sectors were higher on Friday led by XLY, XLC and XLE. 

52 of 100 NDX stocks closed higher on Friday.

54 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, MNST, PEP, SBUX, AVGO, CEG, AMZN, CRWD, CSCO, FTNT, GOOGL, MDB, MPWR, ORLY, PANW,

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 9

AMZN, CRWD, CSCO, FTNT, GOOGL, MDB, MPWR, ORLY, PANW,

Moving Below 30 DMA = 5

AAPL, KDP, MSTR, NFLX, TTWO,

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