SPX Pauses after 150 Point Rally...Industrials, Utilities, Real Estate Lead Sectors...MSFT Closes Slightly Lower on After-hours EPS Reaction...

© 2023

 

-The SPX -2.86 opened lower and closed slightly lower.

-The SPX paused and found support at Monday’s S1 level.

- QQQ, paused and closed above Monday’s S1 level.

-VIX closed lower.

-After-hours: MSFT -2.44, -1.01% gapped up on EPS and reversed lower.

 

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

Mega caps AAPL, NVDA, TSLA, rose and GOOGL, AMZN, MSFT, META, closed lower on Tuesday.

iBB:  In our model account we maintain a net long position.  We had three LCV positions hit profit targets, and we reduced our Jan 27 risk exposure by scaling out of four positions and closing two positions.

Day 7 of Q4 Earnings Season today, 52 SPX companies have reported as of the close:

First day reaction: Q4 through Jan 23…

Positive:  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 = 27

Neutral: JNJ, HBAN, SLB, DFS, BLK = 5

Negative: MMM, UNP, IVZ, DHR, HAL, BRO, ZION, BKR, SYF, NTRS, KEY, PG, FAST, PNC, UAL, SCHW, GS, CFG, DAL, UNH = 20

88 SPX companies report EPS next 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 down .43 at 400.63, on 84.1 million shares, average volume, up on lower volume.

VIX down .61 at 19.20

QQQ down .59 at 288.37

TRV, VZ, CAT, HON led the DJIA, 18 advancers, -4

RTX, TAP, CPT, LUMN led the SPX, 229 advancers

PCAR, MNST, SGEN, NFLX led the NDX, 37 advancers.

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

Up:  DIA

Down:  SPY, QQQ, IWM,

Six of eleven sectors were higher on Tuesday, led by XLI, XLU and XLRE.

The SPY MFC green line turned up at 57.6 and is short-term bullish.  SPY opened lower and closed lower.

Uptrend sectors:   XLB, XLI, XLF, XLC, XLRE, 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

37 of 100 NDX stocks closed higher on Tuesday.

76 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, OKTA, VRTX, AAPL, EA, BIIB, COST, CPRT, CSGP, CSX, DLTR, FAST, ILMN, INTU, JD, MCHP, MRVL, MSFT, PANW, PAYX, TXN, WDAY, VRSK, ZM, ZS, ADI, DDOG, FTNT, GFS, PCAR, REGN, TSLA, MNST, ROST,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

MNST, ROST,

Moving Below 30 DMA = 1

CRWD,

Add Comments here: