Thursday, October 5, 2023

Thursday Trading Range on Lighter Volume...Jobs Report Friday BMO...Real Estate, Health Care, Financial Lead Sectors...


© 2023


SPX, NDX trading was mixed on Thursday and net change capital for the four days this week is positive.  This indicates that there was net rotation in of institutional money for the four days.  Jobs Report is out Friday morning before the open and can provide a positive or negative push to the market.

Earnings season starts next Friday with JPM EPS.

Breadth was negative on Thursday.


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


SPY down -.16 at 424.50, on 70.1.4 million shares, below average volume, closed slightly lower on lower volume. 
VIX down -.09 at 18.49
QQQ down -1.06 at 358.69


DIS, MRK, UNH, JNJ led the DJIA, 15 advancers, -7
LW, MKTX, EQT, NRG led the SPX, 214 advancers
CSGP, REGN, CEG, DLTR led the NDX, 27 advancers.

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

Up:  IWM, DIA,
DownSPY, QQQ,

Four of eleven sectors were higher on Thursday, led by XLRE, XLV and XLF.

The SPY MFC green line is pointed down at 12.6 and is short-term bearish.  SPY opened lower, traded in a range and closed slightly down for the 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 TrendDown


27 of 100 NDX stocks closed higher on Thursday.

17 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, COST, META, SIRI, AMGN, EA, GEHC, GOOGL, PCAR, SNPS, TSLA, VRTX, BIIB, MU, REGN,


NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
BIIB, MU, REGN,


Moving Below 30 DMA = 5
AMD, CSX, GFS, INTC, ZS,



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