SPX Closes Higher on Late Rally...Health Care, Financial, Industrials Lead Sectors...CRM Leads DJI, SPX on Positive EPS Reaction...

© 2023

The SPX +17.22 opened slightly higher, traded in a range, rallied in the final 30 minutes to close higher, and formed a hammer candle.  CRM, NUE, UNH, BA, STLD, SCHW and PANW were among Thursday’s leading gainers.

PCE Price Index: M/M 0.0% vs. 0.1% consensus, Y/Y 3.0% vs. 3.1% consensus.

Fed speakers today included Williams.

After-hours:  ULTA +50.90, +11.95% on a positive EPS reaction.

Powell on Friday will be at Spelman College in Atlanta, GA to participate in a Conversation with College President Helene Gayle at 11 am ET and a Roundtable Discussion with Fed Governor Lisa Cook at 2 pm ET.

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

SPY up 1.79 at 456.40 on 79.7 million shares, average volume, closed higher on higher volume. 

VIX down .06 at 12.92

QQQ down .98 at 388.83

CRM, UNH, BA, AXP led the DJIA, 25 advancers, +8

CRM, PSX, DFS, CNC, MOH led the SPX, 403 advancers 

PDD, WDAY, ADSK, PANW led the NDX, 57 advancers.

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

Up:  DIA, SPY, IWM,

Down:  QQQ

Nine of eleven sectors were higher on Thursday, led by XLV, XLF and XLI.

The SPY MFC green line is sideways at 95.8 and is short-term bullish.  SPY opened higher and closed slightly higher.

Uptrend sectors:   XLC, XLK, XLF, XLY, XLE,

Neutral sectors:  XLI, XLB, XLV, XLU, XLRE,

Down trend sectors:  XLP,

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 a little

57 of 100 NDX stocks closed higher on Thursday.

82 NDX stocks are above their 30 DMA:  FAST, MSFT, LULU, NFLX, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, KDP, KLAC, MDLZ, MELI, SNPS, AMD, AVGO, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, MRVL, VRSK, ADI, ANSS, IDXX, ISRG, MCHP, PAYX, ABNB, CSX, CTSH, GOOGL, NXPI, PYPL, TMUS, TXN, XEL, ZM, JD, WBD, ADP, ENPH, PANW, EBAY, MRNA, ADSK, LCID, TEAM, ALGN, AZN, REGN, AMGN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

AMGN,

Moving Below 30 DMA = 3

FTNT, GFS, SBUX,

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SPX Gaps Higher, Fills the Gap, Closes Lower...Real Estate, Financials Lead Sectors...NTAP leads SPX, WDAY leads NDX...CRM Up After-hours on Positive EPS Reaction...

© 2023

The SPX -4.31 gapped higher, filled the gap, traded in a narrow range, closed slightly lower on light volume and formed a dark cloud cover candle.  NTAP, WDAY, CRWD, NET, PANW, BX and W were among Wednesday’s leading gainers.

Fed speakers today included Barkin, Mester and Bostic.

After-hours:  CRM +20.15, +8.75% on a positive EPS reaction.

Thursday, 8:30 am ET, PCE Index will be released, consensus M/M 0.1%, Y/Y 3.1%.

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

SPY down .38 at 454.61 on 63.10 million shares, below average volume, closed lower on slightly higher volume. 

VIX up .29 at 12.98.

QQQ down .38 at 389.81

CRM, INTC, GS, NKE led the DJIA, 17 advancers, -5

NTAP, GM, SCHW, HPE led the SPX, 286 advancers 

WDAY, CRWD, ILMN, DLTR led the NDX, 51 advancers.

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

Up:  IWM, DIA,

Down:  SPY, QQQ

Six of eleven sectors were higher on Wednesday, led by XLRE, XLF and XLB.

The SPY MFC green line is sideways at 96 and is short-term bullish.  SPY opened higher and closed slightly lower.

Uptrend sectors:   XLC, XLK, XLF, XLY, XLE,

Neutral sectors:  XLI, XLB, XLV, XLU, XLRE,

Down trend sectors:  XLP,

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: Sideways

51 of 100 NDX stocks closed higher on Wednesday.

84 NDX stocks are above their 30 DMA:  FAST, MSFT, LULU, NFLX, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, KDP, KLAC, MDLZ, MELI, SNPS, AMD, AVGO, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, SBUX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, MRVL, VRSK, ADI, ANSS, IDXX, ISRG, MCHP, PAYX, ABNB, CSX, CTSH, GFS, GOOGL, NXPI, PYPL, TMUS, TXN, XEL, ZM, JD, WBD, ADP, ENPH, PANW, EBAY, MRNA, ADSK, LCID, TEAM, ALGN, AZN, FTNT, REGN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

ALGN, AZN, FTNT, REGN,

Moving Below 30 DMA = 1

EXC,

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SPX Closes Higher as Light Volume 4-day Trading Range Continues...Consumer Discretionary Leads Sectors...PDD Gaps Higher after EPS, Leads NDX...

© 2023

The SPX +4.66 opened slightly lower, traded in a narrow range and closed slightly higher on light volume.  PDD, W, SQ, ROKU, PANW, DDOG, ETSY and BA were among Tuesday’s leading gainers.

Fed speakers today included Goolsbee, Waller, Bowman and Barr.

Thursday, 8:30 am ET, PCE Index will be released, consensus M/M 0.1%, Y/Y 3.1%.

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

SPY up .45 at 454.93 on 62.0 million shares, below average volume, closed higher on higher volume. 

VIX unchanged at 12.69.

QQQ up 1.02 at 390.19

MMM, BA, WMT, DOW, MSFT led the DJIA, 22 advancers, +12

NEM, SYF, CCI, PYPL led the SPX, 229 advancers 

PDD, LCID, TSLA, TEAM led the NDX, 42 advancers.

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

Up:  QQQ, DIA, SPY,

Down:  IWM,

Eight of eleven sectors were higher on Tuesday, led by XLY, XLRE and XLP.

The SPY MFC green line is sideways at 96.7 and is short-term bullish.  SPY opened flat and closed slightly higher. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLE,

Neutral sectors:  XLI, XLB, XLV, XLU, XLRE,

Down trend sectors:  XLP,

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: Sideways

42 of 100 NDX stocks closed higher on Tuesday.

81 NDX stocks are above their 30 DMA:  FAST, MSFT, LULU, NFLX, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, KDP, KLAC, MDLZ, MELI, SNPS, AMD, AVGO, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, SBUX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, MRVL, VRSK, ADI, ANSS, IDXX, ISRG, MCHP, PAYX, ABNB, CSX, CTSH, GFS, GOOGL, NXPI, PYPL, TMUS, TXN, XEL, ZM, JD, WBD, ADP, ENPH, PANW, EBAY, EXC, MRNA, ADSK, LCID, TEAM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

ADSK, LCID, TEAM,

Moving Below 30 DMA = 3

GEHC, ODFL, SGEN,

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SPX Closes Lower as Breadth Weakens on Light Volume after Holiday Weekend...Real Estate, Consumer Discretionary, Utilities Lead Sectors...

© 2023

The SPX -8.91 opened slightly lower, traded in a narrow range and closed slightly lower on light volume.  NVDA +4.66, +0.98% recovered about half of Friday’s pullback.  NVDA is a bull flag price pattern in a channel.

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

SPY down .82 at 454.48 on 50.5 million shares, below average volume, closed lower on higher volume. 

VIX up .23 at 12.69, bounces up from 52-week low.

QQQ down .34 at 389.17

MMM, TRV, WMT, MSFT led the DJIA, 10 advancers, -17

DPZ, IP, CCI, STLD, ETSY led the SPX, 174 advancers 

MELI, TTD, ZM, PANW led the NDX, 33 advancers.

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

Up: 

Down:  QQQ, DIA, SPY, IWM,

Three of eleven sectors were higher on Monday, led by XLRE, XLY and XLU.

The SPY MFC green line is sideways at 96.9 and is short-term bullish.  SPY opened flat and closed flat.

Uptrend sectors:   XLC, XLK, XLF, XLY, XLE,

Neutral sectors:  XLI, XLB, XLV, XLU, XLRE,

Down trend sectors:  XLP,

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 a little

33 of 100 NDX stocks closed higher on Monday.

81 NDX stocks are above their 30 DMA:  FAST, MSFT, LULU, NFLX, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, AMD, AVGO, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, SBUX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, MRVL, VRSK, ADI, ANSS, IDXX, ISRG, MCHP, PAYX, ABNB, CSX, CTSH, GFS, GOOGL, NXPI, ODFL, PYPL, TMUS, TXN, XEL, ZM, JD, WBD, ADP, ENPH, PANW, EBAY, EXC, MRNA, SGEN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

ALGN, AZN, CMCSA,

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SPX Closes Flat on Light Volume Holiday Half-day Trading as Mega-caps Pause...Health Care, Basic Materials, Energy Lead Sectors...VIX Hits 52-week Low...

© 2023

The SPX +2.72 opened flat, traded in a range and closed flat during a holiday half day trading which was the lowest daily volume in 2023.  VIX closed at a 52-week closing low.  NVDA -9.40, -1.93% closed lower for a second day after record revenues, earnings beat and raised guidance after the close on Tuesday.

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

SPY up .28 at 455.30 on 29.7 million shares, below average volume, closed higher on lower volume.

VIX down .34 at 12.46, a 52-week low

QQQ down .55 at 389.51

JNJ, DIS, WMT, TRV led the DJIA, 27 advancers, +4

BBY, A, WRK, FIS led the SPX, 377 advancers 

DXCM, WBD, JD, DLTR led the NDX, 72 advancers.

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

Up:  IWM, DIA, SPY,

Down:  QQQ,

Nine of eleven sectors were higher on Friday, led by XLV, XLB and XLE.

The SPY MFC green line is sideways at 97.4 and is short-term bullish.  SPY opened flat and closed flat. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLE,

Neutral sectors:  XLI, XLB, XLV, XLU, XLRE,

Down trend sectors:  XLP,

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

72 of 100 NDX stocks closed higher on Friday.

84 NDX stocks are above their 30 DMA:  FAST, MSFT, LULU, NFLX, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, AMD, AVGO, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, SBUX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, MRVL, VRSK, ADI, ANSS, IDXX, ISRG, MCHP, PAYX, ABNB, CSX, CTSH, GFS, GOOGL, NXPI, ODFL, PYPL, TMUS, TXN, XEL, ZM, JD, WBD, ADP, CMCSA, ENPH, PANW, EBAY, ALGN, AZN, EXC, MRNA, SGEN,NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 5

ALGN, AZN, EXC, MRNA, SGEN,

Moving Below 30 DMA = 0

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SPX Closes Higher as VIX Drops Before Thanksgiving Holiday...Communication Services, Consumer Staples, Utilities Lead Sectors...NVDA Closes Lower after Record EPS...

© 2023

The SPX +18.43 opened higher, traded in a range and closed higher.  VIX closed within 3 cents of its 52-week closing low.  NVDA -12.28, -2.46% closed lower after record revenues, earnings beat and raised guidance after the close on Tuesday.

Have a wonderful Thanksgiving Holiday and weekend!!!!

Markets are closed on Thursday and open only a half day on Friday.

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

SPY up 1.75 at 455.02 on 59.4 million shares, below average volume, closed higher on higher volume. 

VIX down .50 at 12.85, within 3 cents of a 52-week low

QQQ up 1.59 at 390.06

MMM, NKE, MSFT, HD led the DJIA, 23 advancers, +12

HPQ, PODD, PNW, NWSA led the SPX, 388 advancers 

EBAY, AMD, MELI, AMZN led the NDX, 72 advancers.

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

Up:  IWM, DIA, QQQ, SPY,

Down:   

Ten of eleven sectors were higher on Wednesday, led by XLC, XLP and XLU.

The SPY MFC green line is sideways at 97.3 and is short-term bullish.  SPY opened higher and closed higher. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLE,

Neutral sectors:  XLI, XLB, XLV, XLU, XLRE,

Down trend sectors:  XLP,

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

72 of 100 NDX stocks closed higher on Wednesday.

79 NDX stocks are above their 30 DMA:  FAST, MSFT, LULU, NFLX, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, AMD, AVGO, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, SBUX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, MRVL, VRSK, ADI, ANSS, IDXX, ISRG, MCHP, PAYX, ABNB, CSX, CTSH, GFS, GOOGL, NXPI, ODFL, PYPL, TMUS, TXN, XEL, ZM, JD, WBD, ADP, CMCSA, ENPH, PANW, EBAY,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 2

ADSK, TEAM,

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