SPX Closes Higher...VIX, DXY Fall...Consumer Discretionary, Industrials, Technology Lead Sectors...

© 2023 

 

-SPX +12.20 gapped higher, filled the gap and closed above the HOLD.

-VIX closed .72 lower.

-UNP +19.45, +10.09% after announcing plans to announce a new CEO in 2023,

 

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

Mega caps TSLA, NVDA, GOOGL, AAPL, MSFT, AMZN rose and META fell.

iBB:  In our model account we maintain a net long position.  We added two LCVs and a bearish put trade.

SPY up 1.35 at 397.73, on 80.4 million shares, average volume, up on lower volume.

VIX down .72 at 20.95

QQQ up 2.09 at 293.94

CAT, BA, JPM, AAPL led the DJIA, 17 advancers, +11

UNP, ENPH, SEDG, LYB led the SPX, 263 advancers

SGEN, RIVN, TSLA, LCID led the NDX, 74 advancers.

The two-year trend term is up a little.  The one-year trend down a little.

Up:  QQQ, IWM, SPY, DIA,

Down:

Seven of eleven sectors were higher on Monday, led by XLY, XLI and XLK.

The SPY MFC green line is pointed down at 39.3 and is short-term bearish.  SPY gapped higher, filled the gap and closed above the high of the low day.

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

Neutral sectors:  XLE, XLP, XLU, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down a little

74 of 100 NDX stocks closed higher on Monday.

37 NDX stock are above their 30 DMA:   ALGN, BKNG, META, SGEN, WBD, ANSS, CDNS, ISRG, ABNB, FISV, NVDA, AAPL, CPRT, FAST, PANW, WDAY, ZS, ADI, FTNT, GFS, TSLA, CRWD, ORLY, DXCM, KDP, PEP, ATVI, CSCO, REGN, INTU, MELI, MRVL, AMD, FANG, MCHP, MDLZ, ODFL,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

AMD, FANG, MCHP, MDLZ, ODFL,

Moving Below 30 DMA = 1

PCAR,

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