© 2023
The SPX +64.32, opened flat, traded up after the JOLTS and Consumer
Confidence reports came in lower than expected.
Bonds rose, the dollar index, bonds and volatility fell as stocks
rallied. The SPX experienced a broad rally and closed significantly higher on Tuesday.
NVDA bounced up from
its earnings flag with a
hammer and closed at an all-time closing high.
Macro announcements:
Wed – ADP Employment Report, GDP 2nd est., Intl
Trade in Goods
Thu – PCE Price Index,
Fri – Jobs Report, ISM Mfg. Index
Mega
caps TSLA, NVDA, GOOGL, META, AAPL, MSFT, AMZN rose.
SPY up 6.40 at 449.16, on 83.0 million shares, above average volume, closed
higher on higher volume.
VIX down .63 at 14.45
QQQ up 8.01 at 374.77
VZ, AAPL, NKE, INTC led the DJIA, 27 advancers, +2
TSLA, CTLT, PODD, STLD, ALB led the SPX, 442 advancers
PDD, TSLA, ABNB CHTR led the NDX, 92 advancers.
The two-year trend term is sideways. The
one-year trend is up.
Up: QQQ, SPY, IWM, DIA,
Down:
All eleven sectors were higher on Tuesday, led by XLY, XLC and XLK.
The SPY
MFC green line is pointed up at 35.3 and is short-term
bullish. SPY opened flat,
traded up, and closed higher.
Uptrend sectors: XLE,
XLV, XLC, XLF, XLI, XLY, XLB, XLK,
Neutral sectors: XLRE, XLP,
Down trend sectors: XLU,
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 Tuesday.
45
NDX stocks are above their 30 DMA: CEG, ROST,
ADP, CHTR, CMCSA, FANG, AMGN, CSCO, GOOGL, REGN,
CTSH, NVDA, ODFL, BKR, INTU, SGEN, VRSK, ADBE, ALGN, AMAT, CDNS, TEAM,
WDAY, BKNG, CTAS, KDP, KLAC, MAR, MELI, MNST, MRNA, PANW, SNPS, VRTX, AMZN, AVGO, FAST, GILD, INTC, LRCX, MU, NFLX, ORLY, PDD, TSLA,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 11
AMZN, AVGO, FAST, GILD, INTC, LRCX,
MU, NFLX, ORLY, PDD, TSLA,
Moving Below 30 DMA = 0
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