NDX, RUT, SPX, DJI Closed Higher as Semis, Tech Stocks Rally...Breadth Strengthens...

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SPX +60.93, 7,543, opened and closed higher, confirmed Wednesday’s hammer candle for a bounce continuation move.  SPX is just 66 points below its highest close, in its multi-week channel.  Both the NDX and SPX rose in their 5-week sideways channel.  Breadth strengthened as advancers led on both the NYSE and NASDAQ exchanges.

Reports indicates that SK Hynix ADR IPO (SKHY) is 7 times oversubscribed, will start trading on Friday.  MU, SK Hynix and Samsung South Korean companies have been tradeable in the DRAM ETF since April 2.

SpaceX, SPCX, closed at 152.16, +2.60%. Our view is that SPCX, with no earnings, IS an overvalued speculation.

SPX advancers: LITE HPE FDXF SNDK NCLH LRCX IVZ AMD PANW FCX WDC.

SPX decliners: APA PSKY COST CINF PEP MCK PM DVN J AXON EOG.

SPY +0.85%, below average volume of 40.8 million shares.

VIX -1.06, 15.84.

NDX +1.62% opened and closed higher, below its 30 DMA.

DJI, 52,487 +0.27%, a three-day bull flag pattern.

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

Up: QQQ, IWM, SPY, DIA,

Down:

The SPY MFC green line is up at 71, price-action remained above ST support and is short-term bullish. +6.5

Seven of eleven sectors were higher on Wednesday led by XLK, XLY and XLF. 

65 of 100 NDX stocks closed higher on Thursday.

49 NDX stocks are above their 30 DMA: AMAT, MNST, PANW, CRWD, FTNT, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, VRTX, ABNB, DASH, TTWO, AEP, AMGN, ALAB, AXON, GEHC, ROP, AZN, SBUX, CSX, KHC, ADP, DDOG, MELI, PAYX, PYPL, REGN, ALNY, CTAS, MDB, TRI, AAPL, GILD, WDAY, DXCM, META, PDD, AMD, AMZN, ASML, AVGO, CDNS, IDXX, TSLA, TXN, 

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 8

AMD, AMZN, ASML, AVGO, CDNS, IDXX, TSLA, TXN,   

Moving Below 30 DMA = 4

AZN, ISRG, PLTR, XEL,

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NDX Closed Higher as Semi and Technology Stocks Rallied...SPX, RUT, DJI Closed Lower...SPX Formed a Hammer Candle...

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SPX -21.14, 7,482, traded in a range and formed a hammer candle, in its multi-week channel.  Both the NDX and SPX paused in its 4 1/2 -week consolidation sideways channel.  Breadth remained negative as decliners led on the NYSE and NASDAQ exchanges.

SpaceX, SPCX, closed at 148.30, -0.78%, closed lower. Our view is that SPCX, with no earnings, IS an overvalued speculation.

SPX advancers: AKAM ANET SMCI SNDK DINO VLO BKR MPC CIEN CASY PSX.

SPX decliners: SYF MRNA SW AXON RMD GPN ALGN AMCR COF BLDR PHM.

SPY -0.31%, below average volume of 42.9 million shares.

VIX +0.77, 16.90.

NDX +0.27% opened lower, closed higher, below its 30 DMA.

DJI, 52,348 -1.09%, a two-day bull flag pattern.

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

Up: QQQ,

Down: SPY, IWM, DIA,

The SPY MFC green line is flat at 64.5, price-action remained above ST support and is short-term bullish. -0.7

Two of eleven sectors were higher on Wednesday led by XLE, XLK and XLP. 

39 of 100 NDX stocks closed higher on Wednesday.

45 NDX stocks are above their 30 DMA: AMAT, MNST, PANW, CRWD, FTNT, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, VRTX, ABNB, DASH, TTWO, AEP, AMGN, ALAB, AXON, GEHC, ROP, XEL, AZN, SBUX, CSX, KHC, ADP, DDOG, MELI, PAYX, PYPL, REGN, ALNY, CTAS, MDB, TRI, AAPL, GILD, ISRG, WDAY, DXCM, META, PDD, PLTR,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

AMD, APP, KDP, GOOGL, IDXX, PEP, TMUS,

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DJI Makes Intraday All-time High...DJI, SPX, RUT, NDX Closed Lower as Semi's and Tech Stocks Pull Back...SPCX Joins NDX...

 

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SPX -3.11, 7,503, traded in a range and closed slightly lower, in its multi-channel.  Both the NDX and SPX paused in its 4-week consolidation sideways channel.  Breadth weakened and turned negative as decliners led on the NYSE and NASDAQ exchanges.

SpaceX, SPCX, closed at 149.47, -6.83%, was added to the NDX 100 today. Our view is that SPCX, with no earnings, IS an overvalued speculation.

SPY -0.48% on below average volume of 43.7 million shares.

VIX +0.56, 16.13.

NDX -1.77% opened and closed lower, below its 30 DMA.

DJI, 52,925 -0.25%, an all-time intraday high 53,289.

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

Up:

Down: DIA, SPY, IWM, QQQ,

The SPY MFC green line is up at 65.2, price-action remained above ST support and is short-term bullish. +3.5

Six of eleven sectors were higher on Tuesday led by XLE, XLV and XLRE. 

47 of 100 NDX stocks closed higher on Tuesday.

52 NDX stocks are above their 30 DMA: AMD, AMAT, MNST, PANW, CRWD, FTNT, KDP, KLAC, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, VRTX, ABNB, DASH, TTWO, AEP, AMGN, ALAB, AXON, GEHC, ROP, XEL, AZN, SBUX, CSX, KHC, ADP, DDOG, MELI, PAYX, PYPL, REGN, ALNY, APP, CTAS, MDB, TRI, AAPL, GILD, IDXX, ISRG, PEP, WDAY, DXCM, GOOGL, META, PDD, PLTR, TMUS,   

NDX Stocks to Watch on Wednesday

Moving Above 30 DMA = 1

TMUS,     

Moving Below 30 DMA = 7

ASML, FER, HON, INTC, KLAC, TSLA, TXN,

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