© 2023
-Memorial Day Holiday, markets closed on Monday.
-SPX +54.17, opened slightly higher and closed higher.
-Positive sentiment from expectations of a debt
ceiling deal getting done in time.
-VIX down 1.68
-MRVL +16.04, +32.42%,
PDD +11.40, +18.99%, WDAY +19.66, +10.01%, on
- Positive EPS reactions
-Core PCE Price YoY, 4.7% vs. 4.6%est., MoM 0.4% vs.
0.3% est.
/CL, GLD and TLT closed higher, while DXY and TNX moved
lower.
Mega caps TSLA, AMZN, META, NVDA,
MSFT, AAPL, GOOGL rose.
SPY up 5.37 at 420.02, on 93.8
million shares, above average volume, up on slightly higher volume.
VIX down 1.68 at 17.46.
QQQ up 8.68 at 348.40
INTC, AXP, CRM, GS led the DJIA, 22 advancers, +9
NVDA, AMD, ANET, AVGO, ADBE, AMAT led the SPX, 341 advancers
MRVL, PDD, AVGO, WDAY led the NDX, 82 advancers.
The two-year trend term is sideways. The
one-year trend is sideways.
Up: QQQ, SPY, IWM, DIA,
Down:
Eight of eleven sectors were higher on Friday, led by XLK,
XLY and XLC.
The SPY
MFC green line turned up at 70.5 and is short-term bullish. SPY opened higher closed higher as NVDA
EPS beat lifted tech stocks.
Uptrend sectors: XLK, XLC,
XLP, XLY, XLV,
Neutral sectors: XLB, XLI, XLU, XLRE,
Down trend sectors: XLE, XLF,
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 Trend: Up
82 of 100 NDX stocks
closed higher on Friday.
51
NDX stock are above their 30 DMA: AAPL,
AMZN, CPRT, ISRG, MNST, CSGP, MSFT, NVDA, LRCX,
META, VRSK, CTSH, DDOG, GOOG, GOOGL, AMD, CRWD, FTNT, ZS, NFLX, AMAT, ASML,
KLAC, OKTA, AVGO, MRVL, MU, SNPS, ADSK, RIVN, TSLA, WDAY, CSCO, ADBE, LCID,
PAYX, TEAM, CTAS, PANW, CDNS, FAST, NXPI, TXN, ZM, ANSS, COST, EA, GFS,
MCHP, MELI, PDD,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 7
ANSS, COST, EA, GFS, MCHP, MELI, PDD,
Moving Below 30 DMA = 1
ORLY,
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