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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NDX, SPX, RUT, DJI Closed Higher as Technology & Industrials Sectors Led, MSFT Positive Earnings Reaction...Afterhours - AMZN Positivie EPS Reaction...

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SPX +121.48, 7,437, opened and closed higher the day following the myopic and incomplete narratives regarding Wednesday’s FOMC press conference where the FOMC left rates unchanged as expected.  Nine (75%) of the FOMC committee voted to leave rates unchanged.  NDX closed above Monday, Tuesday and Wednesday’s close. 

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

It is worthwhile noting that there were eighteen S&P 500 stocks that increased between +11.3% to +25.99% on Thursday.  The twelve advancers below and CIEN, CMG, MRVL, COHR, STX and INTC were up big.  Of the 18, three from the industrials sector EME, PWR and HII, and one from consumer discretionary CMG.  The rest were from the information technology sector. 

Those silly narratives about technology and AI trades being dead.  It’s the goofy media narratives (that should be buried) from individuals who don’t comprehend the difference between signal and noise.

SPX advancers: SNDK EME MU LRCX PWR MSFT WDC LITE AMAT TER HII AMD.

SPX decliners: FICO CHRW LKQ NCLH MO LHX META IT FDS VRSK ERIE.

META -46.58, -7.95%, missed EPS and beat on sales, a negative earnings reaction

MSFT +60.56, +15.51% had both an earnings and sales beat and a positive earnings reaction

After-hours - AAPL -21.10, -6.33%, EPS $2.02 beats $1.89 estimate, sales $109.417B beat $108.651B estimate. 

AMZN +22.50, +9.55%, EPS $5.75 beats $1.82 estimate, sales $200.606B beat $196.460B estimate.

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Day 13, Q2 Earnings season:

Friday BMO: ABBV. ARES, BEN, CBOE, CHD, CL, CVX, D, ETN, FRT, LIN, LYB, MRNA, TROW, XOM,

Q2 First day reaction: +40%

Positive: 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, = 96

Neutral: 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 = 33

Negative: 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 = 109

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 149.00, +17.52% on its fifteenth 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 112.20, -0.31% formed another red spinning top candle.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +1.68%, above average volume of 70.6 million shares.

VIX -3.57, 17.09, reversed last Thursday’s, Monday’s and Wednesday’s gains.

NDX +3.36% formed a white candle that reversed Tuesday and Wednesday’s selloff and closed above the high of the low day on Wednesday.

DJI, 52,208 +1.19%, just 1.78% below its all-time closing high on July 6.

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

Up: QQQ, SPY, IWM, DIA,

Down:

The SPY MFC green line turned up at 39.6, price-action closed above diagonal support from June 9 and 26 and is short-term bullish. +1.2

Five of eleven sectors were higher on Thursday led by XLK, XLI and XLY 

52 of 100 NDX stocks closed higher on Thursday.

50 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, AAPL, 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, TTWO, CMCSA, GEHC, MNST, PEP, KDP, NFLX, SBUX, AVGO, CEG, MSTR,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 3

AVGO, CEG, MSTR,

Moving Below 30 DMA = 3

EXC, MAR, ORLY,

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For What It's Worth...

© 2026

Some of the narratives created on Wednesday don’t meet logic tests.  They sound plausible but they don’t offer supporting facts, just opinions.  In evaluation of information we ask, "is there vague or ambiguous language?"  An analytical mind would say, "show me the evidence."  

You can decide for yourself, but Wednesday’s post-FOMC narratives don’t make sense.  Price action seemed to be market maker induced effects of the microstructure process not the alleged fears being described.  FWIW

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