SPX Opens Lower, Closes Higher Above the HOLD...Technology, Communication Services, Consumer Discretionary Lead Sectors...NVDA, Semis Lead NDX...

© 2023

 

The SPX +25.67 bounced above the HOLD on Monday.  The SPX opened 6 points lower, reversed during the first half-hour of trading and trended higher into the close.

Retails Sales Tuesday, 8:30 am ET.

FOMC Minutes Wednesday at 2:00 pm ET.

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

SPY up 2.46 at 448.11, on 47.8 million shares, below average volume, close higher on lower volume.

VIX down .02 at 14.82

QQQ up 4.11 at 370.35

INTC, CRM, MRK, V led the DJIA, 13 advancers, -8

STLD, TDY, GNRC, DXCM led the SPX, 233 advancers

NVDA, MU, MRVL, AMD led the NDX, 68 advancers.

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

Up:  QQQ, SPY, DIA,

Down:  IWM,

Six of eleven sectors were higher on Monday, led by XLK, XLC and XLY. 

The SPY MFC green line is pointed down at 50 and is defensive.  SPY opened lower, reversed and closed higher above the high of the low day.

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

Neutral sectors: XLP, XLU, 

Down trend sectors: 

The 6-month intermediate trend is up.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

68 of 100 NDX stocks closed higher on Monday.

47 NDX stock are above their 30 DMA:  CEG, VRSK, COST, PDD, BKR, CSX, INTU, ROST, ODFL, ADP, CHTR, CMCSA, MAR, PAYX, BKNG, FANG, AMGN, PDD, KDP, CSCO, MRNA, INTC, GOOGL, REGN, AZN, MDLZ, CTSH, LULU, MELI, WBD, AMZN, GILD, TEAM, ILMN, MNST, SGEN, SBUX, PCAR, ADBE, ADSK, ALGN, CRWD, FAST, KLAC, LRCX, META, MU, TMUS, WDAY,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 11

ADBE, ADSK, ALGN, CRWD, FAST, KLAC, LRCX, META, MU, TMUS, WDAY,

Moving Below 30 DMA = 1

MDLZ,

Add Comments here: