Thursday, March 23, 2023

SPX Closes Higher...Financial Sector Volatility Continues...Technology, Communication Services Lead Sectors...


© 2023

 

-SPX +11.75, opened higher, rallied, pulled back and closed up for the day.
-Financial sector traded in a range at support, XLF -0.67%
-FRC -0.88, -6.00%, KRE -1.21, -2.78%, regional banks at support.
-VIX closed .35 higher.
-Yellen at House Appropriations Committee, correlated with late market volatility.
-NFLX is a horizontal breakout setup after inverse H&S breakout.
-AMD, NVDA, META, FTNT, PANW, CRWD hit 3-month high.

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

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


SPY up 1.06 at 393.17, on 119.3 million shares, above average volume, up on higher volume.
VIX up .35 at 22.61
QQQ up 3.63 at 309.75.

INTC, MSFT, AMGN, NKE led the DJIA, 18 advancers, +18
ACN, INTU, TTWO, LRCX led the SPX, 179 advancers
NFLX, REGN, MU, MRVL led the NDX, 65 advancers.

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

Up:  QQQ, SPY, DIA,
DownIWM

Two of eleven sectors were higher on Thursday, led by XLK, XLC and XLY.

The SPY MFC green line turned down at 36.0 and is short-term bearishSPY opened higher and closed higher.

Uptrend sectors:   XLK, XLC, XLY, XLB,
Neutral sectors:  XLI, XLE, XLF, XLP, XLV, XLRE,
Down trend sectors: XLU,

The 6-month intermediate trend is up a little.  The ten-day trend is up a little.

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendSideways


65 of 100 NDX stocks closed higher on Thursday.

49 NDX stock are above their 30 DMA:   META, SGEN, ANSS, CDNS, NVDA, PANW, FTNT, CRWD, AVGO, AMD, ATVI, OKTA, ODFL, VRSK, AAPL, ILMN, AMAT, CSCO, DXCM, INTC, MDLZ, MELI, MSFT, SNPS, GOOG, GOOGL, PEP, ADBE, ADI, AMZN, CPRT, EA, GFS, INTU, ISRG, LRCX, TXN, VRTX, ASML, AZN, BKNG, MU, KLAC, LULU, MCHP, NXPI, QCOM, REGN, WDAY

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 7
KLAC, LULU, MCHP, NXPI, QCOM, REGN, WDAY


Moving Below 30 DMA = 0




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