SPX Flat after Shut-down Averted...Mega-caps Lift NDX, QQQ...Technology, Communication Services, Consumer Discretionary Lead Sectors on Mixed Trading...GL Closes Pointed Up...

 

© 2023

QQQ formed a white candle bounce above Thursday’s high and SPY formed another  hammer at support.

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

SPY down -.17 at 427.31, on 83.7 million shares, average volume, closed slightly lower on lower volume.

VIX up .09 at 17.61

QQQ up 2.99 at 361.26

UNH, MSFT, AAPL, CSCO led the DJIA, 11 advancers, -8

DFS, PODD, PFE, META led the SPX, 111 advancers

ZS, NVDA, GOOGL, ADBE led the NDX, 49 advancers.

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

Up:  QQQ,

Down:  SPY, DIA, IWM,

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

The SPY MFC green line is pointed up at 13.4 and is short-term bullish.  SPY opened lower and closed slightly lower, 36 cents below the high of the low day.

Uptrend sectors:   XLE, XLC, XLF,

Neutral sectors:  XLV, XLK,

Down trend sectors: XLY, XLI, XLU, XLB, 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 a little

49 of 100 NDX stocks closed higher on Monday.

20 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, AMGN, TMUS, COST, META, CHTR, GEHC, GFS, PCAR, ABNB, QCOM, SIRI, SNPS, ZM. ZS, CDNS, GOOGL, NXPI,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

CDNS, GOOGL, NXPI,

Moving Below 30 DMA = 8

CEG, CSX, EA, EBAY, FANG, KHC, LULU, TEAM,

Add Comments here: