SPX Soars after Better-than-expected CPI...Real Estate, Utilities, Consumer Discretionary Lead All Sectors Higher...Solar Stocks Sizzle...

© 2023

The SPX +84.15 gapped up after better-than-expected CPI report, trended higher on a broad rally and closed higher.  Core CPI Y/Y 4.0% vs. 4.1%, M/M 0.2% vs. 0.3%.

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

SPY up 8.54 at 448.73 on 97.1 million shares, above average volume, closed higher on higher volume.

VIX down .60 at 14.16

QQQ up 8.12 at 385.53

HD, WBA, DOW, GS led the DJIA, 25 advancers, +10

ARE, FSLR, SEDG, BXP led the SPX, 464 advancers

ENPH, GFS, MRVL, TTD led the NDX, 94 advancers.

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

Up:  IWM, QQQ, SPY, DIA

Down:

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

The SPY MFC green line is pointed up at 94.4 and is short-term bullish.  SPY gapped up at the open 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: Sideways

3-day Short Term Market Trend: Up

94 of 100 NDX stocks closed higher on Tuesday.

80 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, VRTX, AMD, AVGO, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, SBUX, WBD, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, MRVL, VRSK, ADI, ADSK, ANSS, IDXX, ISRG, MCHP, PANW, PAYX, ABNB, BKR, CSCO, CSX, CTSH, EXC, GFS, GOOGL, NXPI, ODFL, PYPL, TEAM, TMUS, TXN, WBD, XEL, ZM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 17

ABNB, BKR, CSCO, CSX, CTSH, EXC, GFS, GOOGL, NXPI, ODFL, PYPL, TEAM, TMUS, TXN, WBD, XEL, ZM,

Moving Below 30 DMA = 0

Add Comments here: