© 2023
The SPX -7.21, was a pause day which opened flat, traded in a range and closed slightly lower after rising 138 points over the prior four trading days. Breadth narrowed from Wednesday and turned slightly negative.
PCE Price Index reported BMO inline with consensus:
Headline Y/Y 3.3% vs. 3.3% est., Core Y/Y 4.2%
vs 4.2% est.
Friday BMO Jobs Report is +170,000 new jobs est. and
3.5% unemployment rate. The ISM Mfg.
Index at 10 am ET is 46.8 est. vs. prior 46.4.
NVDA 493.55, made at a new all-time closing
high.
Mega
caps AMZN, TSLA, META, GOOGL, NVDA, AAPL rose
and MSFT fell.
SPY down .66 at 450.35, on 66.0 million shares, below average volume, closed lower
on lower volume.
VIX down .31 at 13.57
QQQ up 1.13 at 377.99
CRM, MMM, INTC, VZ led the DJIA, 9 advancers, -10
WDC, ANET, STX, JNPR led the SPX, 174 advancers
CRWD, ZS, ZM, AVGO led the NDX, 46 advancers.
The two-year trend term is sideways. The
one-year trend is up.
Up: QQQ,
Down: SPY, IWM, DIA,
Four of eleven sectors were higher on Thursday, led by XLK,
XLY and XLC.
The SPY
MFC green line is pointed up at 51.6 and is short-term
bullish. SPY opened
flat, traded in a range, and closed slightly lower.
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
46 of 100 NDX stocks
closed higher on Thursday.
52
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, MRNA, PANW, SNPS, AMZN, AVGO, FAST,
INTC, LRCX, MU, NFLX, ORLY, PDD, TSLA, AAPL, ANSS, EBAY, ISRG, ON, WBD, ZM, ZS,
CRWD, LULU,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 2
CRWD, LULU,
Moving Below 30 DMA = 4
CSGP, MSFT, MNST, VRTX,
Add Comments here:
No comments:
Post a Comment