SPX Opens Higher Closes Higher...Mega Caps Lift Stocks...Communication Services, Consumer Discretionary, Technology Lead Sectors...

© 2023 

-Breadth was stronger on Friday.

-Core PCE 4.1% vs 4.2% est. vs 4.6% prior, lower than expected.

-SPX +44.82

-EPS Gainers: KLAC +28.66, +5.94%, FSLR +9.60, +4.83%,

-AAPL +2.61, 195.83, re-breakout.

-TSLA +10.73, +4.20%, bounce at short-term support, close below 30 DMA.

-Regional banks were higher: KRE +.69, +1.44%, ZION +1.08, +2.87%. 

169 SPX companies report next week including AAPL, AMZN.

Monday, day 13 of Q2 Earnings Season with 2 SPX companies reporting BMO: L, ON, and 9 AMC: ANET, AVB, ES, FANG, HOLX, RSG, SBAC, WDC, WELL.

First day reaction: Q2 …

Positive: TROW, NWL, CINF, DLR, INTC, KLAC, FSLR, BEN MDLZ, EIX, PG, ESS, DXCM, CHD, ALGN, TXT, LRCX, RCL, STX, CMCSA, ABBV, IP, META, CARR, TSCO, WAB, KDP, IEX, PNR, AMT, MCD, UNP, BA, ODFL, GOOGL, ADP, CB,, APH, EQT, CME, OTIS, FTV, TEL, GD, KO, PKG, MSCI, GE, PHM, FFIV, MMM, NXPI, ADM, SHW, BRO, GLW, NVR, DOW, MCO, ROP, ZION, JNJ, ABT, KEY, UAL FCX, FITB, MKTX, IBM, KMI, TRV, MMC, NTRS, USB, CFG, ELV, JBHT, MTB, SCHW, MS, BAC, BK PNC, SYF, UNH, PEP = 87

Neutral: TMUS, PEAK, AJG, CVX, VRSN, PTC, MAS, AWK, BSX, VLO, NSC, URI, LIN, TMO, T, HES, HLT, V, VZ, ARE, NEE, GEHC, DHR, DPZ, COF, WRB, PPG, HBAN, PM, GS, BKR, JPM, WFC, CAG, CTAS, DAL = 36

Negative:  LYV, ENPH, JNPR, MHK, CNC, AON, HIG, PFG, F, CL, EMN, EQR, WY, XOM, MTD, CHTR, EBAY, CMG, EW, LUV, ROL, WTW, SPGI, BAX, WST, FTI, LHX, TYL, CBRE, HON, GWW, ORLY, UDR, BMY, LKQ, TER, XEL, NOW, MLM, ACGL, CMS, HSY, KIM, CNP, AEP, NOC, GL, VICI, MAA, HCA, RJF, MA, EG, AOS, INVH, PCG, AMP, DTE, LH, MOH, CSGP, ALLE, TDY, DGX, RHI, UHS, TXN, WM, MSFT, PI,  RTX, ALK, IVZ, LW, DOV, GM, KMB, WHR, PCAR, BIIB, AVY, CDNS, IPG, CMA, AXP, CSX, ISRG, RF, SLB, DFS, TSLA, EFX, NFLX, GPC, SNA, TFC, AAL, NEM, LVS, CCI, STLD, DHI, POOL, OMC, HAL, NDAQ, HAS, LMT, PLD, STT, C, BLK, PGR, FAST = 115

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

SPY up 4.43 at 456.92, on 80.0 million shares, average volume, up on lower volume.  

VIX down 1.08 at 13.33

QQQ up 6.86 at 383.48,

INTC, PG, MSFT, BA led the DJIA, 22 advancers, +13

TROW, NWL, CINF, DLR led the SPX, 338 advancers

LCID, JD, INTC, SIRI led the NDX, 86 advancers.

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

Up:  QQQ, IWM, SPY, DIA,

Down: 

Nine of eleven sectors were higher on Friday, led by XLC, XLY and XLK.

The SPY MFC green line turned up at 89.8 and is short-term bullish.  SPY opened higher, traded in a range and closed higher.

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

Neutral sectors:  XLV, XLP, 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 a little

86 of 100 NDX stocks closed higher on Friday.

82 NDX stock are above their 30 DMA:  AAPL, NVDA, CEG, META, TTD, VRSK, FTNT, AVGO, WDAY, ADBE, PANW, NXPI, COST, PDD, BKR, CSX, MCHP, ABNB, PCAR, SIRI, ADI, INTU, ROST, ODFL, IDXX, PYPL, ON, DLTR, ADP, CHTR, CMCSA, EA, EXC, DDOG, MAR, TMUS, LCID, PAYX, BKNG, FANG, AMGN, ANSS, CTAS, MRVL, SBUX, SNPS, ZM, PDD, QCOM, KDP, CSCO, FAST, KHC, MRNA, PEP, JD, MNST, ADI, CRWD, INTC, MU, GOOGL, LRCX, ZS, ALGN, AMAT, KLAC, REGN, ADSK, AEP, AMZN, ASML, AZN, CSX, DXCM, ILMN, MDLZ, MELI, PANW, TEAM, TXN, VRTX, WBD,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 15

ADSK, AEP, AMZN, ASML, AZN, CSX, DXCM, ILMN, MDLZ, MELI, PANW, TEAM, TXN, VRTX, WBD,

Moving Below 30 DMA = 3

CDNS, CTSH, WBA,

Add Comments here: