Thursday, July 1, 2021

SPX Sixth Straight All-time Closing High, RUT, DJI, NDX Higher...MU Negative EPS Reaction Drags Semis Lower...


© 2021
 
The SPX made a new all-time closing high for the sixth day in a row.  The NDX, which was lower most of Thursday on weakness in semiconductor stocks after a negative earnings reaction in MU, did close five points higher and twelve points below its 14,572 all-time high on Tuesday.
 
Semiconductor stocks, SMH fell -1.48% after a negative earnings reaction in MU
 
DJI +131.02, +0.38%, closed at 34,633.  UNH, NKE, AMGN and HD were the largest point gainers on Thursday.
NDX +5.25, +0.04%, closed at 14,560.
SPX +22.44, +0.52%, closed at 4,319.
 
TSLA -0.26%, formed a spinning top in a six-day pennant.
 
SPY = All-time high.
DIA = Channel bounce continuation.
QQQ = Trend continuation.
IWM = Channel bounce continuation.
 
Ten of eleven sectors were higher on Thursday, led by XLE, XLU and XLV.
 
Energy leaders: FANG, OXY, MRO, FTI
Utilities leaders: ETR, XEL, CMS, SO
Health Care leaders: VTRS, REGN, CTLT, HCA,
 
 
SPY up 2.37 at 430.33, on 53.4 million shares, below average volume, up on lower volume.  
VIX down .35 at 15.48
 
NKE, TRV, CVX, AXP led the DJIA, 24 advancers, -1
FANG, OXY, MRO, FTI led the SPX, 400 advancers.
REGN, MAR, CPRT, FB led the NDX, 52 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, SPY, DIA, QQQ,
Down:
 
Advancers strengthened on Thursday as advancers led 2,150 to 1,149 on the NYSE and led 2,471 to 1,896 on the NASDAQ.
 
The SPY MFC green line is pointed up at 97.9 and is bullishSPY closed at a new all-time high. 
 
 
Uptrend sectorsXLK, XLC, XLV, XLRE, XLE, XLY, XLP, XLI, XLF, XLB,
Neutral sectors:  XLU,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp
 
52 of 100 NDX stocks closed higher on Thursday.
 
71 NDX stocks are above their 30 DMA:  ALXN, TMUS, SGEN, PAYX, INTU, FB, MXIM, ADI, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, SNPS, MRNA, PYPL, AMD, EBAY, REGN, XLNX, DXCM, ADBE, BIIB, DOCU, LULU, MSFT, TEAM, ALGN, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, MTCH, WDAY, NFLX, OKTA, TSLA, VRSN, ADSK, AMAT, CDW, CHTR, COST, JD, ORLY, SWKS, BIDU, ROST, SIRI, TXN, VRSK, ADP, AMGN, GILD, AVGO, CMCSA, NTES, PEP, AEP, CSCO, FOXA, SBUX, VRTX,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 5
AEP, CSCO, FOXA, SBUX, VRTX,
 
Moving Below 30 DMA = 9
ASML, ATVI, EA, INCY, KLAC, LRCX, MU, NXPI, PDD,
 
 
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1 comment:

Ben W. said...

Thank you, Dave. I’m on vacation with my family. Great to be able to stay in synch with the market by reading your blog.