© 2021
Reminder: Options
expiration is tomorrow, Thursday, April 1 this
week. Markets are closed April 2 in
observance of Good Friday.
The
SPX, DJI, NDX and RUT each ended March with their highest monthly
close ever.
The DJI -85.41, -0.26%, finished lower at 32,981. GS, TRV, JPM and MMM were the
largest point decliners on Wednesday.
NDX +194.91, +1.51%, was a channel bounce.
SPX +14.34, +0.36%, ended
at 3,972, a horizontal resistance BO
setup.
TSLA +5.08%, opened
higher, closed higher, bullish engulfing candle and channel bounce continuation.
Five
of eleven
sectors were higher on Wednesday, led by XLK,
XLY and XLU.
Technology leaders: ENPH, AMAT, TER, CDNS
Consumer Discretionary leaders: PVH,
TSLA, RL, UAA
Utilities leaders: AWK, NEE, NRG, SO
SPY up 1.60 at 396.33, on 112.7 million shares, above average volume, up on higher volume.
VIX down .21 at 19.40
WBA, AAPL, MSFT, BA led the DJIA, 9 advancers, -1
ENPH, PVH, TER, CDNS led the SPX, 215 advancers.
MRNA, AMAT, TSLA, PTON led the NDX, 73 advancers.
The two-year trend term is up. The one-year trend is up.
Up: QQQ, IWM, SPY,
Down: DIA,
Advancers were mixed on Wednesday as advancers led 1,817 to 1,505 on the NYSE and led 2,678 to 1,515 on the NASDAQ.
The SPY MFC green line
turned up and rose 6.7 to 86.2 and is bullish. Price action is a resistance breakout setup.
Uptrend sectors: XLP, XLI, XLB, XLRE, XLV, XLC, XLF,
XLE, XLY,
Neutral sectors: XLK, XLU,
Down trend sectors:
The 6-month intermediate trend is up. The
ten-day trend is sideways.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
73 of 100 NDX stocks
closed higher on Wednesday.
60 NDX stocks are above their 30 DMA: KHC, ADP, ORLY, CSCO, PAYX, AEP, XEL, AMAT,
EXC, FB, MDLZ, CTSH, WBA, SIRI, TXN, FAST, AMGN, DLTR, PEP, CSX, MNST, COST,
ASML, CERN, BIIB, CDW, NXPI, SBUX, ADBE, ALXN, BKNG, EBAY, GILD, INCY, INTC,
KLAC, LRCX, REGN, ROST, SWKS, VRSK, VRSN, EA, TMUS, MAR, MRVL, ADI, ADSK,
ALGN, ANSS, CDNS, CTAS, GOOGL, ISRG, MCHP, MSFT, MXIM, NVDA, SNPS, VRTX,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 14
ADI, ADSK, ALGN, ANSS, CDNS,
CTAS, GOOGL, ISRG, MCHP, MSFT, MXIM, NVDA, SNPS, VRTX,
Moving Below 30 DMA = 3
CHTR, FISV, LULU,
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2 comments:
Thank you, Dave! Interest rates up, market up? There goes that narrative. Silly media.
Hey Dave! Thanks for getting back. Looking at going thru Provo, 7/11 AM. I was thinking my friend, Ward, was near you. I messaged you on LNKD.
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