SPX Lower After Weekly Jobless Claims...AAPL, AMZN, WDC Lower in After-hours...

© 2020

The SPX -27.08, -0.92%, pulled back on Thursday and finished April +12.68%, reportedly the best monthly gain since Jan 1987.  

FB, MSFT and TSLA reported EPS after the close on Wednesday and initially had positive reactions.  Futures had been higher over night but turned lower after the weekly Jobless Claims report was higher than expected Thursday before the open.

The SPX is a one-day bull flag setup and horizontal resistance breakout test.

In after-hours trading AMZN -119.00, -4.81%, AAPL -7.50, -2.55%, WDC -4.68, -10.16%, V -1.32, -0.74%, moved lower after reporting EPS.

Most of this week’s 171 scheduled EPS reports from SPX companies are out and the SPX is up for the week through Thursday.  Friday’s trading will reflect the impact of AMZN, AAPL, WDC and others that reported after the close on Thursday and before the open on Friday.

Before the open Thursday, ZM was added to the Nasdaq 100 replacing WLTW which is being acquired by AON.

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All eleven sectors were lower on Thursday, led by XLC, XLK and XLV

SPY down 2.73 at 290.48 on 122.9 million shares, below average volume, Down on higher volume.

VIX up 2.92 at 34.15

AAPL, UNH, BA led the DJIA, 6 advancers, -18

GCI, ABMD, NOW DLPH led the SPX, 72 advancers

FB, AMZN, CTXS LBTYA led the NDX, 23 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up:

Down: QQQ, SPY, DIA, IWM,

Breadth weakened on Thursday as decliners led 2,159 to 793 on the NYSE and led 2,393 to 907 on the NASDAQ

The SPX MFC green line is pointed up at 95 and is a short-term bullish.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB, XLU,

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down a little.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

23 of 100 NDX stocks closed higher on Thursday.

95 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC, DLTR, AAL, BIDU, UAL, CTXS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

CTXS,

Moving Below 30 DMA = 2

WBA, ZM

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Higher Open, Higher Close After Strong GOOGL EPS Reaction, Fed Keeps Rates Unchanged...FB, MSFT, TSLA Gain After-hours...

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Nine of eleven sectors were higher on Wednesday, led by XLE, XLC and XLK

SPY up 7.48 at 293.21 on 118.7 million shares, below average volume, up on higher volume.

VIX down 2.34 at 31.23

AXP, V, BA led the DJIA, 24 advancers, +8

NCLH, NBL, APA, MRO led the SPX, 396 advancers

AAL, UAL, MU, MAR led the NDX, 84 advancers

The two-year trend term is up.  The one-year trend is sideways.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Wednesday as advancers led 2,628 to 365 on the NYSE and led 2,676 to 609 on the NASDAQ

The SPX MFC green line is pointed up at 94 and is a short-term bullish.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB, XLU,

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down a little.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

84 of 100 NDX stocks closed higher on Wednesday.

96 NDX stocks are above their 30 DMA:  SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC, DLTR, WBA, AAL, BIDU, UAL

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

AAL, BIDU, UAL,

Moving Below 30 DMA = 1

CTXS,

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Open Higher, Close Lower, Pullback after Consumer Confidence Weakens...GOOGL, AMD Report After-hours...FOMC to Announce Wednesday...

© 2020

The SPX -41.74, -1.47%, gapped up about 30 points on the open but started falling after the Consumer Confidence report came in lower than expected at 10 am ET.  With GOOGL EPS after the close, the SPX sold off about 15 points in the last 20 minutes of trading. 

The SPX is a horizontal resistance breakout setup.

In after-hours trading GOOGL +98.41, +7.98%, moved higher and AMD -1.71, -3.08%, moved lower after reporting EPS.

This week is the biggest EPS reporting week with 171 scheduled EPS reports from SPX companies.  AMD, AAPL, AMZN, FB, GOOGL, MSFT, GILD, MXIM, PEP, QCOM, SBUX, TSLA, WDC, CAT, MMM, MRK, PFE, BA, V, DOW, MCD, CVX, XOM report earnings this week.

The FOMC holds its press conference Wednesday afternoon.

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up: IWM,

Down: DIA, SPY, QQQ,

Breadth weakened on Tuesday as advancers led 2,134 to 824 on the NYSE and led 1,886 to 1,377 on the NASDAQ

The SPX MFC green line is pointed up at 91 and is a short-term bullish.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB, XLU,

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

37 of 100 NDX stocks closed higher on Tuesday.

94 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC, DLTR, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 1

BIDU,

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Uptrend Continues...SPX is a Breakout Setup as Heaviest Earnings Week Begins....FOMC Tues/Wed,,,

© 2020

The SPX continued the bull flag bounce that began on Wednesday and rose to resistance on Monday and is now a horizontal resistance breakout.  The SPX +41.74, +1.47%, had a 9-point going into the close.  The VIX had its lowest close since March 4. 

This week is the biggest EPS reporting week with 171 scheduled EPS reports from SPX companies.  AMD, AAPL, AMZN, FB, GOOGL, MSFT, GILD, MXIM, PEP, QCOM, SBUX, TSLA, WDC, CAT, MMM, MRK, PFE, BA, V, DOW, MCD, CVX, XOM report earnings this beginning Tuesday April 29.

The FOMC meets Tuesday and Wednesday with a press conference Wednesday afternoon.

All eleven sectors were higher on Monday, led by XLF, XLRE and XLB

SPY up 4.08 at 287.05 on 77.7 million shares, below average volume, up on lower volume.

VIX down 2.64 at 33.29

DIS, MMM, JPM led the DJIA, 24 advancers, -3

GCI, KSS, PVH led the SPX, 438 advancers

TSLA, DLTR FOXA, ROST led the NDX, 76 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up: IWM, DIA, SPY, QQQ,

Down:

Breadth strengthened on Monday as advancers led 2,328 to 643 on the NYSE and led 2,601 to 697 on the NASDAQ

The SPX MFC green line is pointed up at 88 and is a short-term bullish.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB, XLU,

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

76 of 100 NDX stocks closed higher on Monday.

95 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, BIDU, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC, DLTR, WBA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

DLTR, WBA,

Moving Below 30 DMA = 0

Add Comments here:

SPX Higher Open, Higher Close Regains Thursday's Late Pullback as VIX Drops to Nine Week Closing Low...

© 2020

The SPX recovered from Thursday’s GILD news correlated pullback and continued the bull flag bounce that began on Wednesday.  For the second expiration Friday in a row, the SPX +38.94, +1.39%, had an afternoon rally and VIX dropped going into the close. 

While individual EPS reactions over the first two weeks of earnings season have been mixed the SPX is +72.11, +2.72% over the past nine trading days since April 13.  Next week is the biggest EPS reporting week with 171 scheduled EPS reports from SPX companies.

All eleven sectors were higher on Friday, led by XLK, XLY and XLB

SPY up 3.89 at 282.97 on 85.1 million shares, below average volume, up on lower volume.

VIX down 5.45 at 35.93

HD, AAPL, IBM led the DJIA, 27 advancers, +12

FCX, IVZ, SIVB, KMX led the SPX, 412 advancers

CPRT, NXPI, EXPE, NTAP led the NDX, 90 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is a bull flag bounce and is up.

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Friday as advancers led 1,834 to 1,107 on the NYSE and led 2,135 to 1,100 on the NASDAQ

The SPX MFC green line is pointed up at 85 and is a short-term bullish.

Uptrend sectors:  XLV, XLP, XLK, XLC, XLY, XLB, XLU,

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

90 of 100 NDX stocks closed higher on Friday.

93 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, BIDU, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

WDC,  

Moving Below 30 DMA = 0

Add Comments here:

SPX Rally Undercut after a Report of a Clinical Trial of GILD Remdesivir...

© 2020

News services reported today that the WHO inadvertently released draft documents on a Chinese clinical trial of remdesivir that was terminated early due to low enrollment.  The WHO in existence since 1948, with 7,000 people in 150 plus offices worldwide.  Inadvertent?  Accidental?  With this many years of experience and this large of an organization, does anyone know of any other instances of inadvertent or accidental posting of draft documents on clinical trials during a pandemic?

At 12:44 pm ET the SPX was at 2,835 when news a Financial Times article, citing WHO documents, suggesting a Chinese trial of GILD’s remdesivir was not effective drove GILD stock down $6.73 or -8.11% in three minutes.  In that same three minutes the SPX fell 38 points to 2,797.  While that low became support for the day, the SPX which had been up 45 points had lost its momentum and closed down -1.51 points.  GILD was -3.53, -4.34% for the day.

GILD response indicated results were inconclusive and the trial was terminated early due to low enrollment.

After the close INTC -3.54, -6.00%, fell on a negative EPS reaction, while the industry ETF SMH was down -2.05, -1.59%.

Five of eleven sectors were higher on Thursday, led by XLE, XLI and XLC

SPY down .02 at 279.08 on 104.7 million shares, below average volume, unchanged on higher volume.

VIX down .60 at 41.38

XOM, UNH, CVX led the DJIA, 15 advancers, -13

LVS, APA, ODFL, ADS led the SPX, 268 advancers

SIRI, NTAP, EXPE, TCOM led the NDX, 42 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is a bull flag bounce and is down.

Up: IWM, DIA,

Down: SPY, QQQ,

Breadth weakened on Thursday as advancers led 1,818 to 1,134 on the NYSE and led 1,935 to 1,301 on the NASDAQ

The SPX MFC green line is pointed up at 81 and is a short-term bullish.

Uptrend sectors:  XLV, XLP, XLK, XLY, XLB, XLC,

Neutral sectors:  XLU, XLRE, XLI, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

42 of 100 NDX stocks closed higher on Thursday.

92 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, BIDU, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

CMCSA, CPRT, NTAP, SIRI, TCOM,

Moving Below 30 DMA = 2

DLTR, WDC,

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