RUT Closed at a New All-time High...DJI, SPX, NDX Closed Lower...Semiconductors had a Two-day net gain Thursday/Friday...

© 2026

SPX -3.47, 7,354, opened lower, after MU, SNDK, DRAM, SMH, SOXL and semiconductor stocks gave back some of Thursday’s large gains in Thursday’s after-hours and Fridays premarket.   Semiconductor stocks had a two-day net gain for the Thursday/Friday time frame after MU's major EPS beat Wednesday after the close.  

Breadth strengthened as advancers led on both the NYSE and the NASDAQ exchanges by large margins.  VIX closed lower. RUT and IWM closed at new all-time highs.

The charts indicate the four indexes are in an uptrend with NDX and SPX in a 3-week consolidation.  Narratives seem to become more ambiguous whenever major indexes are in consolidation.  It seems as if observers aren't aware that prices fluctuate continuously and that trends consolidate.  Consolidation does NOT mean the trend is over.

GOOGL will replace VZ in the DJIA Monday, June 29 before the open.

SpaceX, SPCX, closed at 153.23, +0.15%.  Our view is that SPCX with no earnings continues to be an overvalued speculation.  As Ben Graham observed there is intelligent speculation, like there is intelligent investing.  If you choose to speculate do so intelligently.

SPX advancers: MRNA FDS NOW WDAY DDOG VEEV LLY APP BIIB IT GDDY.

SPX decliners: ON WDC STX SNDK FLEX KEYS TXN QCOM EME TER ADI.

SPY -0.72% on above average volume of 71 million shares.

VIX -0.48, 17.56,

NDX -1.09% opened lower, traded in a range and closed lower.DJI, 51,920, -0.09%, closed lower.

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

Up: IWM,

Down: DIA, SPY, QQQ,

The SPY MFC green line is down at 34.8 and price-action closed lower but above ST support and is counter-trend defensive. -7.2

Seven of eleven sectors were higher on Friday led by XLV, XLRE and XLP. 

57 of 100 NDX stocks closed higher on Friday.

50 NDX stocks are above their 30 DMA: MRVL, ARM, AMD, AMAT, LRCX, AAPL, MU, MNST, PANW, CRWD, FTNT, KDP, ASML, KLAC, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, INTC, WDC, VRTX, FER, ABNB, DASH, TTWO, AEP, AMGN, ALAB, NBIS, TER, AXON, GEHC, ROP, XEL, AZN, HON, SBUX, CSX, KHC, ADP, DDOG, MELI, ORLY, PAYX, PYPL, REGN, TRI,

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 8

ADP, DDOG, MELI, ORLY, PAYX, PYPL, REGN, TRI,

Moving Below 30 DMA = 5

ADI, ALNY, STX, TXN, WBD,

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NDX, RUT, DJI, SPX Closed Higher...NDX, SPX in 3-week Consolidation...DJI New Intraday High...MU Reports EPS Beyond Expectations...

© 2026

SPX -0.73, 7,357, opened higher, after MU reported an EPS beat with a strong positive reaction which lifted semiconductor stocks, then traded in a range and closed flat.  Breadth was flat as advancers led on the NYSE, and decliners led slightly on the NASDAQ exchange.  VIX closed slightly higher.

The charts indicate the four indexes are in an uprend with NDX and SPX in a 3-week consolidation.  Narratives seem to become more ambiguous whenever major indexes are in consolidation.  It seems as if observers weren't aware that prices fluctuate continuously and that trends consolidate.  Consolidation does NOT mean the trend is over.

Before the open, the PCE report was inline, the GDP report adjusted up to 2.1% and Jobless Claims were better (lower) than expected.

SpaceX, SPCX, closed at 153.00, -1.00%.  Our view is that SPCX with no earnings continues to be a total speculation.  As Ben Graham observed there is intelligent speculation, like there is intelligent investing.  If you choose to speculate do so intelligently.

MU +165.05, +15.74%, reported Wednesday after the close adj. EPS $25.11 beats $20.63 estimate, Sales $41.456B beat $35.590B estimate.

SPX advancers: SNDK TECH MU AMAT GLW TER KLAC RVTY LRCX FLEX CAT.

SPX decliners: AAPL TJX ROST DELL MSCI CTSH AKAM PLTR CPAY COIN NDAQ.

SPY +0.14% on slightly below average volume of 54 million shares.

VIX -0.26, 18.89,

NDX +0.75% traded gapped up, traded in a range and closed higher.

DJI, 51,920, +0.14%, closed higher, hit an all-time intraday high.

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

Up: QQQ, IWM, DIA, SPY,

Down:

The SPY MFC green line is down at 42 and price-action closed above ST support and is short-term bullish. -3.8

Seven of eleven sectors were higher on Thursday led by XLI, XLV and XLB. 

49 of 100 NDX stocks closed higher on Thursday.

47 NDX stocks are above their 30 DMA: MRVL, ARM, AMD, STX, AMAT, LRCX, AAPL, MU, MNST, PANW, CRWD, FTNT, KDP, ASML, KLAC, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, INTC, WDC, VRTX, FER, ABNB, DASH, TTWO, AEP, AMGN, ALAB, NBIS, TER, AXON, GEHC, ROP, XEL, ALNY, AZN, HON, SBUX, WBD, ADI, CSX, KHC, TXN,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 4

ADI, CSX, KHC, TXN,

Moving Below 30 DMA = 5

CSCO, MAR, MDLZ, MELI, ROST,

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RUT, DJI Closed Higher, SPX, NDX Closed Lower...VIX Fell...Afterhours MU +18% on Better than expected EPS...

© 2026

SPX -7.24, 7,358, opened flat, traded in a range and closed slightly lower.  Breadth strengthened slightly as advancers led on the NYSE, and decliners led slightly on the NASDAQ exchange.  VIX fell. 

SpaceX, SPCX, closed at 154.54, -1.98%.  SPCX completed a $25 billion offering of senior unsecured notes on Tuesday. Our view is that SPCX with no earnings continues to be a total speculation.  As Ben Graham observed there is intelligent speculation, like there is intelligent investing.  If you choose to speculate, do so intelligently.

After hours: MU +166.04, +15.84%, reported adj. EPS $25.11 beats $20.63 Estimate, Sales $41.456B beat $35.590B Estimate

SPX advancers: MHK IQV CRL UAL BKNG PHM SWK EXPE GDDY DHI MAS.

SPX decliners: BX HOOD ARES COIN PFG ORCL CME STX WDC FCX BKR.

SPY -0.05% on slightly above average volume of 57.4 million shares.

VIX -0.86, 18.63,

NDX -0.43%, traded in a range and closed lower.

DJI, 51,848, +0.35%, closed higher.

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

Up: IWM, DIA,

Down: SPY, QQQ,

The SPY MFC green line is down at 45.8 and after-hours price-action is short-term bullish. -9.9

Six of eleven sectors were higher on Wednesday led by XLI, XLY and XLU. 

52 of 100 NDX stocks closed higher on Wednesday.

48 NDX stocks are above their 30 DMA: MRVL, ARM, AMD, STX, CSCO, AMAT, LRCX, AAPL, MU, MNST, PANW, CRWD, FTNT, KDP, ASML, KLAC, MAR, ROST, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, INTC, WDC, VRTX, FER, ABNB, DASH, TTWO, AEP, AMGN, ALAB, NBIS, TER, AXON, GEHC, ROP, XEL, ALNY, AZN, HON, MDLZ, MELI, SBUX, WBD,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 7

ALNY, AZN, HON, MDLZ, MELI, SBUX, WBD,

Moving Below 30 DMA = 3

CDNS, PAYX, TXN,

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