NDX, SPX, DJI, IWM Closed Lower...WMT & Retail Stocks Lower after WMT EPS...VIX Closed Higher...Technology & Semicondutor Stocks were Mixed...

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SPX -66.82, 7,641. Thursday rolled over in the pre-market after WMT -10.46, -9.15% announced positive EPS, decelerating growth from pharmacy-related variables and issued lower than expected current quarter guidance.  The SPX, fell below its August 4 S-1 support and still remained above June resistance.  Breadth turned negative as decliners led on both the NYSE and the NASDAQ exchanges.

The VIX closed higher, suggesting that institutions were net opening hedges.

Retail stocks BBY AZO HD TJX DLTR COST ROST ULTA AMZN also moved lower today after WMT earnings.

Technology & semiconductor stocks were mixed on Thursday: LITE MU STX SNDK WDC VRT TSM AMD ARM AVGO AMAT were up and META NVDA DELL MSFT PLTR GOOGL AAPL CIEN NET CRWD were down.

RUT 2,992 opened and closed lower in a 4-day bull flag pattern.

SPX advancers: NDSN COIN DE LITE Q MRVL CF MOS CBOE ARE YUM MU.

SPX decliners: MRNA WMT ISRG CRWD STLD BSX CCL AXON CSGP NRG RCL.

SPCX closed at 134.00, -5.65 on volume of 119.4 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12. 

SPY -6.61, a bull flag pattern, average volume of 45.4 million shares.

VIX +1.12, 16.01 closed higher. 

NDX -0.72% a bull flag pattern in 3-month channel.

DJI, 52,759 -1.32%, bull flag pattern, accelerating counter-trend.

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

Up:

Down: QQQ, SPY, DIA, IWM,

The SPY MFC green line is down at 80.6 price-action on Thursday, closed above horizontal resistance ($760.40) for a thirteenth day and is counter-trend defensive. -6.1

Two of eleven sectors were higher on Thursday.  XLK Technology sector was -0.29%.

33 of 100 NDX stocks closed higher on Thursday.

52 NDX stocks are above their 30 DMA: FAST, AMGN, ADP, PAYX, PYPL, REGN, INTU, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, BKR, CPRT, DASH, DXCM, MSFT, CMCSA, GEHC, CEG, AMZN, MDB, CRWV, LITE, NFLX, NVDA, PLTR, WBD, AXON, GILD, SPCX, VRTX, FANG, ASML, TER, MU, MRVL, NBIS, SNDK, PDD, KDP, PEP, CSX, CTAS, MELI, MSTR, TSLA, MNST,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 1

MNST,

Moving Below 30 DMA = 10

COST, CRWD, FER, ISRG, KHC, ORLY, PANW, RKLB, TMUS, XEL,

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RUT, DJI, SPX Closed Higher...NDX Closed Lower on Weakness in Technology Sector and Semiconductor Stocks...Breadth Strengthened...

 

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SPX +16.22, 7,708. Wednesday was a mixed day with RUT, DJI and SPX higher and the NDX moved lower on semiconductor and technology weakness.  The SPX, DJI and RUT breakouts remain above June resistance.  Breadth turned positive as advancers led on both the NYSE and the NASDAQ exchanges.

SPX closed back above 7,700 after one day below on below average volume. Closed above 7,700 for an eleventh day.   The VIX closed lower, suggesting that institutions were net closing hedges. 

RUT 3,032 forms a bullish harami candle in a bull flag pattern.

SPX advancers: MRNA EL MRK ARE MRVL COIN NEM FICO CSGP CPRT BLDR.

SPX decliners: STX STLD WDC DELL LRCX KEYS COHR TER FLEX NUE Q.

SPCX closed at 139.65, -3.69 on volume of 75.1 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  Absorbing insider/private selling, between August 6 to 17, does not mean the stock is not speculative, but it does mean there were more buyers than sellers and intelligent speculative buyers are speculating to make money.

SPY +1.61, a bull flag pattern, below average volume of 39.6 million shares.

VIX -0.97, 14.87 closed near 3-month low. 

NDX -0.22% a bull flag pattern in 3-month channel.

DJI, 53,463 +0.22%, bull flag pattern.

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

Up: IWM, DIA, SPY,

Down: QQQ,

The SPY MFC green line is down at 86.7 price-action on Wednesday, closed above horizontal resistance for a twelfth day and is short-term bullish. -2.3

Six of eleven sectors were higher and XLU unchanged on Wednesday. 

57 of 100 NDX stocks closed higher on Wednesday.

61 NDX stocks are above their 30 DMA: FAST, AMGN, ADP, PAYX, PYPL, REGN, INTU, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, BKR, COST, CPRT, DASH, DXCM, MSFT, CMCSA, GEHC, CEG, AMZN, CRWD, MDB, ORLY, PANW, CRWV, LITE, NFLX, NVDA, PLTR, WBD, AXON, GILD, RKLB, SPCX, VRTX, FANG, ISRG, ASML, TER, MU, MRVL, NBIS, SNDK, XEL, PDD, KDP, PEP, TMUS, CSX, CTAS, FER, KHC, MELI, MSTR, TSLA,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 7

CSX, CTAS, FER, KHC, MELI, MSTR, TSLA,

Moving Below 30 DMA = 6

CCEP, LRCX, SNPS, SBUX, STX, TTWO,

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DJI, SPX, RUT Closed Lower, Formed Bull Flag Patterns...NDX Closed Lower Formed Bull Flag in a Channel...

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SPX -53.30, 7,691. Closed below 7,700 after closing above for ten days.  The SPX, DJI and RUT breakouts remain above June resistance.  The SPX was down slightly on average volume and the VIX closed higher for a second day, suggesting that institutions were net adding hedges.  RUT 3,017 forms a two-day bull flag pattern.

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

AMAT -20.98, -3.92%, traded in Friday’s pullback range following an EPS beat on Thursday.

SPX advancers: TRGP PODD ULTA INTU MNST ERIE GDDY TYL LLY ADBE ABBV.

SPX decliners: COHR LITE STX SNDK CIEN TER JBL MRVL GLW FLEX WDC.

SPCX closed at 143.34, -2.89 on volume of 84.1 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  Absorbing insider/private selling, since August 6, does not mean the stock is not speculative, but it does mean there are more buyers than sellers and intelligent speculative buyers are speculating to make money.

SPY -0.68%, 3-day bull flag pattern, average volume of 43.9 million shares.

VIX +0.65, 15.84 up for a second day. 

NDX -1.68% formed bull flag pattern.

DJI, 53,343 -0.22%, bull flag pattern.

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

Up:

Down: DIA, SPY, IWM, QQQ,

The SPY MFC green line is down at 89, price-action on Tuesday, closed above horizontal resistance for an eleventh day and is short-term bullish. -2.1

Four of eleven sectors were higher on Tuesday. 

45 of 100 NDX stocks closed higher on Tuesday.

60 NDX stocks are above their 30 DMA: FAST, AMGN, ADP, PAYX, PYPL, REGN, INTU, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, BKR, COST, CPRT, DASH, DXCM, MSFT, CMCSA, GEHC, CEG, AMZN, CRWD, MDB, ORLY, PANW, CRWV, LITE, NFLX, NVDA, PLTR, WBD, AXON, GILD, RKLB, SNPS, SPCX, VRTX, FANG, ISRG, ASML, SBUX, TER, LRCX, MU, MRVL, NBIS, STX, SNDK, XEL, PDD, CCEP, KDP, PEP, TMUS, TTWO,

NDX Stocks to Watch on Wednesday

Moving Above 30 DMA = 5

CCEP, KDP, PEP, TMUS, TTWO,

Moving Below 30 DMA = 8

ADI, AMD, CSX, INTC, MPWR, MSTR, PCAR, WDC,

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