PCE Inflation Report Better-than-expected, NDX, SPX Strong Rally to End 2023 H1...Technology, Consumer Staples Lead All Sectors Higher...AAPL All-time High, First with $3 Trillion Market Cap...

© 2023

-PCE report better than expected, NDX, SPX strong rally,

-Core M/M 0.3% vs. .04% expected, Core Y/Y 4.6% vs 4.7% expected

-Breadth was stronger on Friday.

-AAPL +4.38, 193.97, all-time closing high, first stock with a $3 trillion market cap.

-TSLA +1.26, +0.49%, continued to bounce.

-Regional banks pulled back: KRE -.47, -1.14%, ZION -.42, -1.54%.

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

SPY up 5.17 at 443.28, on 104.9 million shares, above average volume, up on higher volume.

VIX up .05 at 13.59

QQQ up 5.61 at 369.42,

AAPL, WMT, MSFT, MRK led the DJIA, 26 advancers, +4

CCL, SEDG, ENPH, NCLH led the SPX, 438 advancers

SIRI, TEAM, NVDA, ALGN led the NDX, 92 advancers.

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

Up:  QQQ, SPY, DIA, IWM,

Down:

All eleven sectors were higher on Friday, led by XLK, XLY and XLU.

The SPY MFC green line is pointed up at 80 and is short-term bullish.  SPY opened l and closed higher on the fourth day of a bull flag bounce.

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

Neutral sectors:  XLU, XLE,

Down trend sectors:

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

92 of 100 NDX stocks closed higher on Friday.

76 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX, META, VRSK, FTNT, ZS, NFLX, AMAT, KLAC, AVGO, MRVL, TSLA, WDAY, CSCO, ADBE, CTAS, PANW, NXPI, COST, PDD, ATVI, INTC, QCOM, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, ADI, FAST, INTU, LULU, ROST, VRTX, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA, EA, EXC, GFS, ANSS, ASML, BKNG, CDNS, CTSH, DDOG, EBAY, MAR, TMUS, TXN, WBD, FANG, LCID, AEP, GEHC, PAYX, PEP, SNPS, ZM,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 6

AEP, GEHC, PAYX, PEP, SNPS, ZM,

Moving Below 30 DMA = 1

ADSK,

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SPX Opens Lower, Closes Higher on Late Rally...Financial, Basic Materials, Energy Lead Sectors...Tech and Mega Caps Struggle on Thursday...

© 2023

-PCE report BMO, Core M/M 0.4% vs. .04% prior, Core Y/Y 4.7% vs 4.7% prior

-Breadth was modestly stronger on Thursday.

-AAPL +.34, 189.59, all-time closing high, nearing $3 trillion market cap.

-TSLA +1.26, +0.49%, continued to bounce.

-Regional banks continue to rallyl: KRE +.76, +1.87%, ZION +.19, +0.70%. 

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

SPY up 1.72 at 438.11, on 67.7 million shares, below average volume, up on lower volume.

VIX up .11 at 13.54

QQQ down .73 at 363.81

JPM, GS, V, HON, IBM led the DJIA, 22 advancers, +6

CTLT, WFC, TECH, CZR led the SPX, 390 advancers

LCID, PCAR, MAR, AEP led the NDX, 52 advancers.

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

Up:  IWM, DIA, SPY,

Down:  QQQ,

Seven of eleven sectors were higher on Thursday, led by XLF, XLB and XLE.  Visible rotation from tech and into financial, material and industrial sectors today.

The SPY MFC green line is pointed up at 74.5 and is short-term bullish.  SPY opened lower and closed higher on the third day of a bull flag bounce.

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

Neutral sectors:  XLU, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

52 of 100 NDX stocks closed higher on Thursday.

71 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX, META, VRSK, FTNT, ZS, NFLX, AMAT, KLAC, AVGO, MRVL, TSLA, WDAY, CSCO, ADBE, CTAS, PANW, NXPI, COST, PDD, ATVI, INTC, QCOM, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, ADI, FAST, INTU, LULU, ROST, VRTX, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA, EA, EXC, GFS, ADSK, ANSS, ASML, BKNG, CDNS, CTSH, DDOG, EBAY, MAR, TMUS, TXN, WBD, FANG, LCID,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

FANG, LCID,

Moving Below 30 DMA = 3

PAYX, PDD, ZM,

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SPX Pause Stays Above Tuesday's S-1, Closes Flat...Energy, Communication Services, Consumer Discretionary Lead Sectors...AAPL All-time Closing High...

© 2023

-SPX -1.55, opened lower, traded in a range, closed flat on Wednesday

-Powell at ECB Forum, consecutive hikes possible.

-SPY pause stays above Tuesday’s S-1 and closes +.22 in bull flag bounce,

-VIX down .31.

-Breadth was modestly stronger on Wednesday.

-Mega caps TSLA, GOOGL, APPL, MSFT rally on Wednesday

-AAPL +1.19, 189.25, all-time closing high, nearing $3 trillion market cap.

-TSLA +6.03, +2.41%, continued Tuesday’s bounce.

-Regional banks rally: KRE +.68, +1.70%, ZION +.22, +0.81%.

-Powell speaks at Conference on Financial Stability in Spain on Thursday

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

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

SPY up .22 at 436.17, on 75.4 million shares, below average volume, up slightly on similar volume.

VIX down .31 at 13.43

QQQ up .71 at 364.54,

CRM, WBA, AXP, CVX led the DJIA, 16 advancers, -7

CCL, NCLH, WY, GNRC led the SPX, 205 advancers

LCID, SIRI, MELI, TEAM led the NDX, 50 advancers.

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

Up:  IWM, QQQ, SPY,

Down:  DIA,

Five of eleven sectors were higher on Wednesday, led by XLE, XLC and XLY.

The SPY MFC green line turned up at 73.6 and is short-term bullish.  SPY opened lower and closed slightly higher on a pause day after a strong rally.

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

Neutral sectors:  XLU, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

50 of 100 NDX stocks closed higher on Wednesday.

72 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX, META, VRSK, FTNT, ZS, NFLX, AMAT, KLAC, AVGO, MRVL, TSLA, WDAY, CSCO, ADBE, CTAS, PANW, NXPI, COST, PDD, ATVI, INTC, QCOM, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, ADI, FAST, INTU, LULU, ROST, VRTX, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA, EA, EXC, GFS, PAYX, ADSK, ANSS, ASML, BKNG, CDNS, CTSH, DDOG, EBAY, MAR, PDD, TMUS, TXN, ZM, WBD,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

WBD,

Moving Below 30 DMA = 2

PEP, SGEN,

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SPX Close Above the HOLD, Bull Flag Bounce...Consumer Discretionary, Technology, Communication Services Lead Sectors Higher...

© 2023

 

-SPX +49.59, opened and closed higher on Tuesday after economic reports.

-Durable Goods, Consumer Confidence and New Home Sales above expectations

-Mega caps TSLA, META NVDA, MSFT, APPL rallied on Tuesday

-SPX bounced above the high of the low day in a six-day bull flag pullback,

-VIX down .51.

-Breadth was stronger on Tuesday. 

-TSLA +9.16, +3.80%, rallies after Monday’s drop.

-Regional banks continue to fall: KRE +.68, +1.70%, ZION +.22, +0.81%.

-Powell speaks on a panel at ECB Forum on Wednesday 9:30 am ET.

-Powell speaks at Conference on Financial Stability in Spain on Thursday 

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

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

SPY up 4.73 at 436.17, on 72.8 million shares, below average volume, up on similar volume.

VIX down .51 at 13.74

QQQ up 6.15 at 363.83,

INTC, HD, BA, MSFT led the DJIA, 23 advancers, +7

CCL, GNRC, NWL, DAL led the SPX, 412 advancers

LCID, ODFL, CHTR, GFS led the NDX, 84 advancers.

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

Up:  QQQ, IWM, SPY, DIA,

Down:

Ten of eleven sectors were higher on Tuesday, led by XLY, XLK and XLC.

The SPY MFC green line is pointed down at 73 and is defensive.  SPY opened and closed higher as mega-caps and the broad market rallied after being in a six-day bull flag pullback.

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

Neutral sectors:  XLU, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

84 of 100 NDX stocks closed higher on Tuesday.

73 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX, META, VRSK, FTNT, ZS, NFLX, AMAT, KLAC, AVGO, MRVL, TSLA, WDAY, CSCO, ADBE, CTAS, PANW, NXPI, COST, PDD, ATVI, INTC, QCOM, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, ADI, FAST, INTU, SGEN, LULU, ROST, VRTX, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA, EA, EXC, GFS, PAYX, ADSK, ANSS, ASML, BKNG, CDNS, CTSH, DDOG, EBAY, MAR, PDD, PEP, TMUS, TXN, ZM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 14

ADSK, ANSS, ASML, BKNG, CDNS, CTSH, DDOG, EBAY, MAR, PDD, PEP, TMUS, TXN, ZM,

Moving Below 30 DMA = 3

AMGN, REGN, WBA,

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SPX Closes Lower Again...Real Estate, Energy Lead Sectors as Mega-Cap Tech Drops after TSLA Downgrade...

© 2023

-SPX -19.51, opened lower, traded in a range, closed lower on Monday.

-Mega caps TSLA, NVDA, META sold off after a TSLA downgrade by GS

-SPX closed below Friday’s low and is now a six-day bull flag setup.

-VIX up .81.

-Breadth was mixed but weaker on Monday.

-TSLA -15.55, -6.06%, drops after GS downgrade.

-Regional banks continue to fall: KRE +.50, +1.26%, ZION +.48, +1.80%.

-Powell speaks on a panel at ECB Forum on Wednesday

-Powell speaks at Conference on Financial Stability in Spain on Thursday

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

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

SPY down 1.77 at 431.44, on 72.7 million shares, below average volume, down on lower volume.

VIX up .81 at 14.25

QQQ down 4.86 at 357.68,

HD, NKE, CVX, VZ led the DJIA, 16 advancers, +12

BXP, ARE, NWL, WRK led the SPX, 345 advancers

GFS, CHTR, QCOM, AMAT led the NDX, 48 advancers.

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

Up:  IWM,

Down:  DIA, SPY, QQQ,

Six of eleven sectors were higher on Monday, smallest decliners XLRE, XLE and XLB.

The SPY MFC green line is pointed down at 73.6 and is defensive.  SPY opened lower and closed lower after mega-caps fell led by TSLA, NVDA.

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

Neutral sectors:  XLU, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

48 of 100 NDX stocks closed higher on Monday.

62 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX, META, VRSK, FTNT, ZS, NFLX, AMAT, KLAC, AVGO, MRVL, TSLA, WDAY, CSCO, ADBE, CTAS, PANW, NXPI, COST, PDD, ATVI, INTC, QCOM, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, WBA, ADI, FAST, INTU, SGEN, LULU, REGN, ROST, VRTX, ODFL, AMGN, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA, EA, EXC, GFS, PAYX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7

ADP, CHTR, CMCSA, EA, EXC, GFS, PAYX,

Moving Below 30 DMA = 6

ANSS, CDNS, GEHC, GILD, MNST, PEP,

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