SPX Closes Higher on Broad Rally...Real Estate, Financial, Utilities Lead All Sectors Higher...FOMC Announcement Wednesday 2 pm ET...

 

© 2023

The SPX +26.98 opened slightly higher, traded in a range during the morning and rallied in the afternoon and closed higher.

Breadth was positive on Tuesday.

Tuesday EPS reactions:  ANET +24.65, +14.03%, PINS +4.78, +19.04%

After-hours: FSLR +5.40, +3.79%, PAYC -76.27, -31.13%

FOMC announcement Thursday, 2 pm ET, Press conference 2:30 pm ET, markets expect rates to remain unchanged.

Wednesday day 15 of Q3 earnings season continues with 20 SPX companies BMO: CDW, CVS, DD, DTE, EL, ETR, GNRC, GRMN, HUM, IDXX, IQV, KHC, MLM, NCLH, NI, TEL, TRMB, TT, VRSK, YUM reporting BMO and 31 ABNB, AFL, AIG, ALB, ALL, ANSS, APA AWK, BXP, CDAY, CHRW, CLX, CTSH, EA, EIX, ETSY, HST, IR, MCK, MDLZ, MET, MRO, PRU, PTC, PYPL, QCOM, QRVO, SEDG, TYL, WMB, XRAY.  151 SPX companies report this week.

First day reaction:

Positive:  ANET, LDOS, ECL, GEHC, ETN, XYL, ACGL, SPG, INCY, MPC, PEG, GPN, WELL, SYY, BEN, WDC, MCD, DXCM, INTC, AMZN, AMD, META, MELI, MU, AVGO, MRVL, CMCSA, KDP, DDOG, WTW, FTI, AMT, MAS, AOS, EQIX, ORLY, KIM, RJF, IBM, LH, BG, ROL, NOW, IEX, GWW, AMP, BKR, TXT, NEM, EQT, MRK, UHS, LIN, AVB, KDP, CMS, GL, URI, WM, WAB, GD, MSFT, MCO, FFIV, CB, RHI, VZ, RTX, NEE, GE, FI, MMM, NUE, BRO, PCAR, IVZ, PKG, KO, WRK, DOW, DGX, PHM, ARE, NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 102

Neutral: ALLE, AME, PFE, PSA, ZBRA, WEC, L, PSX, LYB, RSG, CBRE, AJG, ESS, PFG, RCL, KLAC, CNP, DTE, VICI, BSX, IP, LUV, V, HLT, APH, TMUS, CME, ROP, HES, ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 42

Negative: VFC, FMC, CAT, HUBB, TECH, AMGN, PEAK, MSCI, ON, RVTY, ENPH, F, CHTR, BIO, CVX, CPT, UDR, VRSN, TROW, ABBV, AON, RMD, FE, MHK, LHX, XEL, CINF, HIG  XOM, CL, WY, ALGN, WHR, HAS, WST, CMCSA, EW, MO, BMY, LKQ, UPS, MA, KVUE, TSCO, VMC, MAA, INVH, EG, TER, META, HSY, PCG, STX, MOH, CARR, VLO, NOC, VLTO, HON, GOOGL, MKTX, ADP, FTV, TMO, NSC, CSGP, ODFL, TXN TDY, AVY, BA, OTIS, PNR, HCA, SYF, ADM, DHR, HAL, GM, NVR, CNC, SHW, DOV, KMB, CDNS, RF, CMA, AXP, HBAN, IPG, SLB, ISRG, GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 120

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

SPY up 2.61 at 418.20 on 79.5 million shares, below average volume, closed higher on lower volume.

VIX down 1.61 at 18.14

QQQ up 1.67 at 350.87

BA, INTC, HON, AXP led the DJIA, 25 advancers, -3

ANET, LDOS, ECL, ETN led the SPX, 416 advancers

CHTR, AMZN, ADBE, WBD, NFLX led the NDX, 80 advancers.

The two-year trend term is down a little.  The one-year trend is up.

Up:  IWM, SPY, QQQ, DIA,

Down: 

All eleven sectors were higher on Tuesday, led by XLRE, XLF and XLU.

The SPY MFC green line is pointed up at 10.2 and is short-term bullish.  SPY opened higher and closed higher.

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

80 of 100 NDX stocks closed higher on Tuesday.

28 NDX stocks are above their 30 DMA:  FAST, MSFT, FANG, GILD, LULU, NFLX, XEL, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, VRTX,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 11

ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, VRTX,  

Moving Below 30 DMA = 3

PDD, SBUX, SGEN,

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SPX Opens Higher, Closes Higher...Communication Services, Financial, Consumer Staplse Lead all Sectors Higher...Earnings Season Continues...

© 2023

The SPX +49.45 opened higher after a positive reaction to WDC and MCD EPS, traded in a range in morning trade and closed higher.

Breadth was positive on Monday.

Monday EPS reactions:  WDC +2.83, +7.26%, ON -18.18, -21.77%.

After-hours: ANET +15.68, +8.92%, PINS +4.03, +16.06%,

Tuesday day 14 of Q3 earnings season continues with 21 SPX companies BMO: ALLE, AME, AMGN, BEN, CAT, ECL, ETN, GEHC, GPN, HUBB, INCY, LDOS, MPC, MSCI, PEG, PFE, SYY, TECH, WEC, XYL, ZBRA reporting BMO and 10 AMC: AIZ, AMCR, AMD, CZR, EQR, FSLR, LUMN, MTCH, OKE, PAYC.  151 SPX companies report this week.

First day reaction:

Positive:  WDC, MCD, DXCM, INTC, AMZN, AMD, META, MELI, MU, AVGO, MRVL, CMCSA, KDP, DDOG, WTW, FTI, AMT, MAS, AOS, EQIX, ORLY, KIM, RJF, IBM, LH, BG, ROL, NOW, IEX, GWW, AMP, BKR, TXT, NEM, EQT, MRK, UHS, LIN, AVB, KDP, CMS, GL, URI, WM, WAB, GD, MSFT, MCO, FFIV, CB, RHI, VZ, RTX, NEE, GE, FI, MMM, NUE, BRO, PCAR, IVZ, PKG, KO, WRK, DOW, DGX, PHM, ARE, NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 87

Neutral: L, PSX, LYB, RSG, CBRE, AJG, ESS, PFG, RCL, KLAC, CNP, DTE, VICI, BSX, IP, LUV, V, HLT, APH, TMUS, CME, ROP, HES, ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 36

Negative:  ON, RVTY, ENPH, F, CHTR, BIO, CVX, CPT, UDR, VRSN, TROW, ABBV, AON, RMD, FE, MHK, LHX, XEL, CINF, HIG  XOM, CL, WY, ALGN, WHR, HAS, WST, CMCSA, EW, MO, BMY, LKQ, UPS, MA, KVUE, TSCO, VMC, MAA, INVH, EG, TER, META, HSY, PCG, STX, MOH, CARR, VLO, NOC, VLTO, HON, GOOGL, MKTX, ADP, FTV, TMO, NSC, CSGP, ODFL, TXN TDY, AVY, BA, OTIS, PNR, HCA, SYF, ADM, DHR, HAL, GM, NVR, CNC, SHW, DOV, KMB, CDNS, RF, CMA, AXP, HBAN, IPG, SLB, ISRG, GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 112

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

SPY up 4.91 at 415.59 on 86.5 million shares, below average volume, closed higher on lower volume.

VIX down 1.52 at 19.75

QQQ up 3.89 at 349.20

NKE, GS, VZ, TRV led the DJIA, 28 advancers, +20

WDC, MKTX, MHK, GS led the SPX, 398 advancers

CHTR, AMZN, ADBE, WBD, NFLX led the NDX, 77 advancers.

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

Up:  DIA, SPY, QQQ, IWM,

Down: 

All eleven sectors were higher on Monday, led by XLC, XLF and XLP.

The SPY MFC green line turned up at 8.6 and is short-term bullish.  SPY opened higher and closed higher. 

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down a little

77 of 100 NDX stocks closed higher on Monday.

20 NDX stocks are above their 30 DMA:  SGEN, PDD, FAST, MSFT, FANG, GILD, LULU, NFLX, XEL, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, SBUX, TMUS,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 8

AEP, AMZN, CEG, CRWD, CTAS, ROST, SBUX, TMUS,

Moving Below 30 DMA = 1

DXCM,

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SPX Opens Higher, Reverses Closes Lower...Consumer Discretionary, Technology Lead Sectors...FOMC Announcement Wednesday...

© 2023

The SPX -19.86 opened higher after a positive reaction to AMZN EPS, and a PCE Core report that was in line with expectations but reversed mid-day and closed lower.

Breadth was negative on Friday.

Friday EPS reactions:  DXCM +8.20, +10.11%, AMZN +8.17, +6.83%, CMG +81.12, +4.49%, ENPH -14.09, -14.65%.

Monday day 13 of Q3 earnings season continues with 5 SPX companies BMO: L, MCD, ON, RVTY, WDC reporting BMO and 8 AMC: ACGL, ANET, FMC, PEAK, PSA, SPG, VFC, WELL.  151 SPX companies report next week.

First day reaction:

Positive:  DXCM, INTC, AMZN, AMD, META, MELI, MU, AVGO, MRVL, CMCSA, KDP, DDOG, WTW, FTI, AMT, MAS, AOS, EQIX, ORLY, KIM, RJF, IBM, LH, BG, ROL, NOW, IEX, GWW, AMP, BKR, TXT, NEM, EQT, MRK, UHS, LIN, AVB, KDP, CMS, GL, URI, WM, WAB, GD, MSFT, MCO, FFIV, CB, RHI, VZ, RTX, NEE, GE, FI, MMM, NUE, BRO, PCAR, IVZ, PKG, KO, WRK, DOW, DGX, PHM, ARE, NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 85

Neutral: PSX, LYB, RSG, CBRE, AJG, ESS, PFG, RCL, KLAC, CNP, DTE, VICI, BSX, IP, LUV, V, HLT, APH, TMUS, CME, ROP, HES, ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 35

Negative:  ENPH, F, CHTR, BIO, CVX, CPT, UDR, VRSN, TROW, ABBV, AON, RMD, FE, MHK, LHX, XEL, CINF, HIG  XOM, CL, WY, ALGN, WHR, HAS, WST, CMCSA, EW, MO, BMY, LKQ, UPS, MA, KVUE, TSCO, VMC, MAA, INVH, EG, TER, META, HSY, PCG, STX, MOH, CARR, VLO, NOC, VLTO, HON, GOOGL, MKTX, ADP, FTV, TMO, NSC, CSGP, ODFL, TXN TDY, AVY, BA, OTIS, PNR, HCA, SYF, ADM, DHR, HAL, GM, NVR, CNC, SHW, DOV, KMB, CDNS, RF, CMA, AXP, HBAN, IPG, SLB, ISRG, GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 110

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

SPY down 1.87 at 410.68 on 107.3 million shares, above average volume, closed lower on lower volume. 

VIX up .59 at 21.27

QQQ up 1.65 at 345.31

INTC, AAPL, MSFT, HON led the DJIA, 8 advancers, -0

COF, SWK, JNPR, CMG led the SPX, 88 advancers

DXCM, AMZN, AMD, META led the NDX, 37 advancers.

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

Up:  QQQ,

Down:  SPY, DIA, IWM,

Two of eleven sectors were higher on Friday, led by XLY, XLK and XLB.

The SPY MFC green line is turned sideways at 6.6 and is short-term bearish.  SPY opened lower and closed lower.

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

37 of 100 NDX stocks closed higher on Friday.

13 NDX stocks are above their 30 DMA:  SGEN, PDD, FAST, MSFT, FANG, GILD, LULU, NFLX, XEL, DLTR, ORLY, DXCM, INTC,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

DXCM, INTC,

Moving Below 30 DMA = 5

AEP, CEG, ROST, TMUS, VRTX,

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SPX Closes Lower After META EPS, Durable Goods Orders and GDP Reports Above Expectations...After-hours: ORLY, AMZN, CMG Up, ENPH Down...

© 2023

The SPX -49.54 opened lower after a negative reaction to META EPS, continued lower after Durable Goods Orders and GDP reports were better than expected at 8:30 am ET (good news is bad news) and closed lower below short-term support.

Breadth was negative on Thursday.

After-hours:  ORLY +13.81, +17.03%, AMZN +6.41, +5.36%, CMG +68.51, +3.79%, ENPH -16.18, -16.82% after reporting EPS.

Friday day 12 of Q3 earnings season continues with 12 SPX companies BMO: ABBV, AON, CBRE, CHTR, CL, CVX, LYB, PSX, SWK, TROW, XEL, XOM reporting BMO.  163 SPX companies report this week.

First day reaction:

Positive:  WTW, FTI, AMT, MAS, AOS, EQIX, ORLY, KIM, RJF, IBM, LH, BG, ROL, NOW, IEX, GWW, AMP, BKR, TXT, NEM, EQT, MRK, UHS, LIN, AVB, KDP, CMS, GL, URI, WM, WAB, GD, MSFT, MCO, FFIV, CB, RHI, VZ, RTX, NEE, GE, FI, MMM, NUE, BRO, PCAR, IVZ, PKG, KO, WRK, DOW, DGX, PHM, ARE, NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 73

Neutral: RCL, KLAC, CNP, DTE, VICI, BSX, IP, LUV, V, HLT, APH, TMUS, CME, ROP, HES, ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 28

Negative:  ALGN, WHR, HAS, WST, CMCSA, EW, MO, BMY, LKQ, UPS, MA, KVUE, TSCO, VMC, MAA, INVH, EG, TER, META, HSY, PCG, STX, MOH, CARR, VLO, NOC, VLTO, HON, GOOGL, MKTX, ADP, FTV, TMO, NSC, CSGP, ODFL, TXN TDY, AVY, BA, OTIS, PNR, HCA, SYF, ADM, DHR, HAL, GM, NVR, CNC, SHW, DOV, KMB, CDNS, RF, CMA, AXP, HBAN, IPG, SLB, ISRG, GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 89

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

SPY down 5.00 at 412.55 on 115.1 million shares, above average volume, closed lower on higher volume. 

VIX up .49 at 20.68

QQQ down 6.68 at 343.66

IBM, VZ, MRK, DOW led the DJIA, 8 advancers, -2

WTW, FTI, AMT, MAS led the SPX, 242 advancers

ORLY, JD, BKR NXPI led the NDX, 29 advancers.

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

Up:  IWM,

Down:  DIA, SPY, QQQ,

Three of eleven sectors were higher on Thursday, led by XLRE, XLU and XLB.

The SPY MFC green line is pointed down at 6.5 and is short-term bearish.  SPY opened lower and closed lower.

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

29 of 100 NDX stocks closed higher on Thursday.

16 NDX stocks are above their 30 DMA:  SGEN, PDD, VRTX, CEG, FAST, MSFT, FANG, GILD, LULU, ROST, NFLX, TMUS, XEL, DLTR, AEP, ORLY,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

AEP, ORLY,

Moving Below 30 DMA = 6

AMGN, CRWD, CTAS, EA, PANW, SBUX,

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SPX Opens Lower, Closes Lower, on Broad Selloff after Negative GOOGL EPS Reaction...META, ALGN Fall After-hours...

© 2023

The SPX -60.91 opened lower after a negative reaction to GOOGL EPS, continued lower after New Homes Sales report was better than expected at 10 am ET (good news is bad news), broke short-term support and closed lower.

Breadth was negative on Wednesday.

After-hours:  ORLY +35.08, +4.01%, META -10.03, -3.35%, ALGN -64.32, -25.35% after reporting EPS.

Thursday day 11 of Q3 earnings season continues with 39 SPX companies BMO: AMT, AOS, BG, BMY, BSX, CARR CMCSA, CMS, CNP, DTE, FTI, GWW, HAS, HON, HSY, IP, KDP, KIM, KVUE, LH, LIN, LKQ, LUV, MA, MAS, MO, MRK, NEM, NOC, PCG, RCL, STX, TSCO, TXT, UPS, VLO, VMC, WST, WTW reporting BMO and 25 companies AMC: AJG, AMZN, BIO, CINF, CMG, COF, CPT DLR, DXCM, EMN, ENPH, ESS, F, FE, HIG, INTC, JNPR, LHX, MHK, PFG, RMD, RSG, UDR, VRSN, WY.  163 SPX companies report this week.

First day reaction:

Positive:  WM, WAB, GD, MSFT, MCO, FFIV, CB, RHI, VZ, RTX, NEE, GE, FI, MMM, NUE, BRO, PCAR, IVZ, PKG, KO, WRK, DOW, DGX, PHM, ARE, NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 44

Neutral: V, HLT, APH, TMUS, CME, ROP, HES, ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 20

Negative:  GOOGL, MKTX, ADP, FTV, TMO, NSC, CSGP, ODFL, TXN TDY, AVY, BA, OTIS, PNR, HCA, SYF, ADM, DHR, HAL, GM, NVR, CNC, SHW, DOV, KMB, CDNS, RF, CMA, AXP, HBAN, IPG, SLB, ISRG, GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 61

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

SPY down 6.08 at 417.55 on 94.2 million shares, above average volume, closed lower on higher volume. 

VIX up 1.22 at 20.19

QQQ down 8.79 at 350.34

TRV, MSFT, WBA, UNH led the DJIA, 10 advancers, -11

WM, WAB, GD, HRL led the SPX, 126 advancers

MSFT, WBA, KHC, FANG led the NDX, 13 advancers.

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

Up: 

Down:  DIA, SPY, IWM, QQQ,

Two of eleven sectors were higher on Wednesday, led by XLU, XLE and XLE.

The SPY MFC green line is pointed down at 10.1 and is short-term bearish.  SPY opened lower and closed lower.

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

13 of 100 NDX stocks closed higher on Wednesday.

20 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, AMGN, EA, VRTX, CEG, FAST, MSFT, FANG, GILD, LULU, ROST, SBUX, NFLX, PANW, CTAS, TMUS, XEL, DLTR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

DLTR,

Moving Below 30 DMA = 11

ADBE, ASML, AVGO, CPRT, GOOGL, KLAC, META, PAYX, SIRI, SNPS, ZS,

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