SPX Closes Higher after Strong GDP and TSLA, STX, STLD, URI Earnings Reactions...Energy, Discretionary, Technology Lead Sectors...

© 2023

-The SPX +44.21 gapped up, filled the gap and closed higher.

-GDP Q4 +2.9% vs. +2.7% estimate.

-TSLA, STX, STLD, URI gained 9%+ after positive EPS reactions.

-VIX closed lower.

-Today, we managed strangle trades on TSLA, IBM, WOLF & MSFT.

 

/CL, TNX and DXY closed higher, while GLD and TLT moved lower.

Mega caps TSLA, META, MSFT, NVDA, GOOGL, AMZN, AAPL rose on Thursday.

iBB:  In our model account we maintain a net long position.  We had 3 LCVs hit target, managed 4 earnings strangles, and we increased our 3 February exposure.

Day 9 of Q4 Earnings Season today, 107 SPX companies have reported as of the close:

First day reaction: Q4 through Jan 26…

Positive:  TSLA, STX, STLD, URI, NUE, PKG, LVS, TSCO, VLO, NOW, AAL, LRCX, CCI, MMC, ROK, AMP, MKTX, COF, T, USB, PGR, TDY, FCX, ELV, HES, PCAR, TRV, RTX, VZ, LMT, DHI, GE, SIVB, NFLX, PPG, STT, RF, CMA, MTB, TFC, FITB, KMI, JBHT, PLD, MS, SBNY, WFC, JPM, BAC, BK, C, FRC = 52

Neutral: CMCSA, ALK, DOW, XEL, TER, ADM, TXT, BA, APH, MSFT, FFIV, TEL, JNJ, HBAN, SLB, DFS, BLK = 17

Negative: SHW, MKC, IBM, NOC, RJF, LUV, CSX, TROW, MA, NEE, NDAQ, ISRG, NSC, ADP, GD, KMB, ABT, TXN, MMM, UNP, IVZ, DHR, HAL, BRO, ZION, BKR, SYF, NTRS, KEY, PG, FAST, PNC, UAL, SCHW, GS, CFG, DAL, UNH = 38

88 SPX companies report EPS this week:

Monday:  BKR, SYF, BRO, ZION

Tuesday:  DHI, DHR, GE, HAL, IVZ JNJ, LMT, MMM, PCAR, RTX, TRV, UNP, VZ, COF, FFIV, ISRG, MSFT, TXN

Wednesday:  ABT, ADP, APH, BA, ELV, FCX, GD, HES, KMB, MKTX, NDAQ, NEE NSC, PGR, T TDY, TEL, TXT, USB, AMP, CCI, CSX, IBM, LRCX, LVS, NOW, PKG, RJF, STLD, STX, TER, TSLA, URI,

Thursday:  AAL, ADM, ALK, CMCSA, DOW, LUV, MA, MKC, MMC, NOC, NUE, ROK, SHW, TROW, TSCO, VLO, XEL, AJG, EMN, INTC, KLAC, LHX, RHI, RMD, V, WRB, WY

Friday:  AXP, CHTR, CL, CVX, HCA, ROP

SPY up 4.40 at 404.75, on 72.2 million shares, below average volume, up on lower volume.

VIX down .35 at 18.73

QQQ up 5.61 at 293.34

CRM, CVX, MSFT, GS led the DJIA, 18 advancers, +3

STX, STLD, URI, NUE led the SPX, 361 advancers

TSLA, PDD, DDOG, MELI led the NDX, 84 advancers.

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

Up:  QQQ, SPY, DIA, IWM,

Down:

Ten of eleven sectors were higher on Wednesday, led by XLE, XLY and XLK.

The SPY MFC green line turned up at 71.6 and is short-term bullish.  SPY opened higher and closed higher.

Uptrend sectors:   XLC, XLRE, XLB, XLI, XLF, XLE, XLK, XLU, XLV, XLP,

Neutral sectors:  XLY,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

84 of 100 NDX stocks closed higher on Thursday.

77 NDX stock are above their 30 DMA:   AVGO, ALGN, BKNG, META, SGEN, CMCSA, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AMAT, ASML, CTSH, FANG, INTC, KLAC, LRCX, ODFL, TMUS, ADBE, ANSS, CDNS, MELI, ADSK, AMZN, ISRG, NXPI, QCOM, ABNB, AMD, FISV, LCID, MAR, NVDA, TEAM, CPRT, GOOG, GOOGL, VRTX, AAPL, EA, BIIB, COST, CPRT, DLTR, FAST, ILMN, INTU, JD, MCHP, MRVL, MSFT, PANW, TXN, WDAY, VRSK, ZS, ADI, FTNT, GFS, PCAR, REGN, TSLA, MNST, ROST, CSCO, SIRI, CRWD, CSGP, DDOG, OKTA, ZM,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

CRWD, CSGP, DDOG, OKTA, ZM,

Moving Below 30 DMA = 0

Add Comments here: