SPX Five-day Rally...Real Estate, Basic Materials, Communication Services Lead Sectors Higher...AAPL Slightly Lower after EPS...

© 2023

The SPX +40.56 opened higher after a weaker than expected Jobs Report (bad news is good news), trended up throughout the day and closed higher.  Jobs Report non-farm payrolls was 150K less than 176K consensus forecast.

Breadth remained strong on Friday.

Friday EPS reactions:  EXPE +17.87, +18.84%, PODD +22.14, +15.76%, FTNT -7.11, -12.35%, AAPL -0.92, -0.52% 

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Approximately 53 SPX companies report next week.

Today, cumulative first day positive reactions exceed cumulative first day negative reactions 172 to 149.  Over 80% of the S&P 500 companies have reported EPS as of Friday, Nov. 3.

First day reaction: Reporting between: Oct 12 – Nov 3

Positive:  EXPE, PODD, IT, AES, CAH, MSI, D, MNST, SBAC, CBOE, MCHP LYV, FRT, SWKS, LNT,TFX, PARA, PWR, SBUX, TYL, PH, CDAY, SEE, HWM, TRGP, EPAM, SPGI, CLX, PYPL, ZTS, QCOM, IR, PTC, BR, AWK, LLY, COP, HST, VAX, BXP, AIG, EA, AEP, DINO, REGN, AFL, MRO, WMB, CI, EXC, NRG, BALL, COR, SO, JCI, MDLZ, FOXA, ETSY, PPL, ALB, ALL, GNRC, TT, AIZ, GRMN, AMD, MLM, TEL, ETR, KHC, 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, = 172

Neutral: DUK, PRU, APA, MET, CHRW, CMI, IRM, PNW, EIX, TAP, NI, YUM, DTE, FSLR, CVS, IQV, CDW, 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 = 68

Negative: FTNT, CHD, BWA, APTV, XRAY, MRNA, SEDG, ABNB, ROK, QRVO, MCK, ANSS, CTSH, ICE, MAR, PAYC, LUMN, EL, MTCH, TRMB, DD, HUM, EQR, NCLH, VRSK, AMCR, CZR, IDXX, OKE, 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 = 149

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

SPY up 3.93 at 434.69 on 100.1 million shares, above average volume, closed higher on higher volume.

VIX down .75 at 14.91, a six-week closing low

QQQ up 4.27 at 367.71

GS, WBA, DIS, NKE led the DJIA, 22 advancers, -6

EXPE, PODD, PARA, IT led the SPX, 411 advancers

MRNA, SIRI, WBD, ABNB led the NDX, 84 advancers.

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

Up:  IWM, QQQ, SPY, DIA,

Down: 

Ten of eleven sectors were higher on Friday, led by XLRE, XLB and XLC.

The SPY MFC green line is pointed up at 48.8 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 up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

84 of 100 NDX stocks closed higher on Friday.

60 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, AMD, AVGO, EXC, HON, META, MNST, MU, PEP, QCOM, SGEN, SIRI, AAPL, AMAT, BKR, CPRT, EA, KHC, LRCX, NVDA, SBUX, WBD, CMCSA, COST, CSGP, IDXX, PCAR, PDD, PYPL, TTD, WBA, WDAY, ZS,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 11

CMCSA, COST, CSGP, IDXX, PCAR, PDD, PYPL, TTD, WBA, WDAY, ZS,

Moving Below 30 DMA = 2

PANW, REGN,

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