Wednesday, May 24, 2023

SPX Closes Lower as Debt Ceiling Talks Resume with No Deal...Energy Leads Sectors...After-hours: NVDA gains 24% on EPS Beat...


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-SPX -30.34, opened lower and closed lower after release of FOMC minutes.
-SPX traded lower as debt ceiling talks resumed.
-VIX up 1.50
-FOMC minutes caused price fluctuation and no significant impact on trend.
-PANW +14.57, +7.68%, after better-than-expected EPS and guidance.
-After hours: NVDA +75.22, +24.63%, after a beat and raise guidance quarter.

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

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


SPY down 3.00 at 411.09, on 89.2 million shares, above average volume, down on slightly higher volume.
VIX up 1.50 at 20.03.
QQQ down 1.71 at 331.65

CRM, MRK, UNH, CVX led the DJIA, 5 advancers, -3
GLW, VLO, FTI, EQT led the SPX, 81 advancers
PANW, ILMN, CRWD, NFLX led the NDX, 30 advancers.

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

Up:
DownQQQ, SPY, DIA, IWM,

One of eleven sectors was higher on Tuesday, led by XLE, XLY and XLC.

The SPY MFC green line turned down at 75.5 and is short-term defensiveSPY opened lower closed lower as debt ceiling talks continue.

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 down a little.

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


30 of 100 NDX stocks closed higher on Wednesday.

46 NDX stock are above their 30 DMA:  AAPL, MDLZ, AMZN, CPRT, ISRG, MNST, DLTR, CSGP, MSFT, NVDA, CMCSA, LRCX, META, VRSK, CTSH, DDOG, GOOG, GOOGL, AMD, CRWD, FTNT, ZS, NFLX, AMAT, ASML, KLAC, MELI, OKTA, AVGO, MRVL, MU, SNPS, ADSK, RIVN, TSLA, WDAY, CSCO, ADBE, LCID, PAYX, TEAMBKR, CTAS, ILMN, ORLY, PANW,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
BKR, CTAS, ILMN, ORLY, PANW,


Moving Below 30 DMA = 11
ADI, ADP, BIIB, CSX, FAST, INTU, MCHP, MRNA, NXPI, TXN, ZM,



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