SPX Closes Lower Short of Record High...NDX, DJI Hit Record High in December...Happy New Year...Markets Closed on Monday...

© 2023

Happy New Year…Markets are close Monday and resume trading on Tuesday January 2, 2024

The SPX -13.52, 4,769.83 opened flat, traded in a range for the first hour, sold off for the next two hours and rallied in the afternoon to close lower on the final trading day of 2023.  The SPX closed one percent or 49 points below its all-time intra-day high of 4,818 on Jan 4, 2022.  Both the NDX and DJI made new record highs during December.

While share volume increased likely due to a combination of position closing for the three-day weekend and year-end tax loss selling, net change selling capital was low as has been the case in net change capital each day in this holiday shortened four-day trading week.

2023 Results (from Dec 30, 2022)

NDX 53.81%

SPX 24.23%

RUT 15.09%

DJI 13.7%

NVDA 239%

META 194%

TSLA 101%

AMZN 80%

MSFT 58%

GOOGL 58%

AAPL 49%

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

SPY down 1.38 at 475.31 on 122.2 million shares, above average volume, closed lower on higher volume. 

VIX down .02 at 12.45

QQQ down 1.78 at 409.52

TRV, VZ, PG, KO led the DJIA, 13 advancers, -7

BSX, MOH, HSY, MCK led the SPX, 147 advancers 

ORLY, TMUS, MRNA, PDD led the NDX, 26 advancers.

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

Up: 

Down:  DIA, SPY, QQQ, IWM,

Two of eleven sectors were higher on Friday, led by XLP, XLV and XLI.

The SPY MFC green line is flat at 96.3 and is short-term bullish. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLI, XLRE, XLB, XLV, XLP, XLU, XLE, 

Neutral sectors: 

Down trend sectors: 

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

26 of 100 NDX stocks closed higher on Friday.

89 NDX stocks are above their 30 DMA:  FAST, LULU, DLTR, INTC, AEP, AMZN, CRWD, CTAS, ROST, TMUS, ASML, DXCM, KDP, KLAC, AMD, HON, QCOM, AMAT, KHC, LRCX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, ADI, IDXX, ISRG, MCHP, ABNB, CSX, CTSH, NXPI, PYPL, TSLA, TXN, XEL, WBD, PANW, MRNA, ADSK, TEAM, REGN, AMGN, GILD, ILMN, ON, BIIB, WBA, AVGO, CMCSA, NFLX, MRVL, MU, TTD, ANSS, CDNS, FTNT, GEHC, GFS, SIRI, AZN, META, NVDA, VRTX, CSCO, ODFL, CCEP, CDW, DASH, MDB, ROP, SPLK, TTWO, BKR, FANG, GOOGL, MNST, MSFT, ADP, MDLZ, PEP, VRSK,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

VRSK,

Moving Below 30 DMA = 3

AAPL, CHTR, MELI,

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SPX Closes Higher on Range Trading...Utlities, Real Estate, Financial Lead Sectors...VIX Remains Low Before Last Trading Day of 2023...

© 2023

The SPX +1.77 opened flat, traded in a range and closed slightly higher.  The SPX closed less than one percent or 35 points below its all-time high of 4,818 on Jan 4, 2022.

STX, SHOP, WDC, FAS, CCL and UALL were among Thursday’s leading advancers.

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

SPY up .18 at 476.69 on 77.1 million shares, above average volume, closed higher on higher volume. 

VIX up .04 at 12.47

QQQ down .20 at 411.30

NKE, MMM, MRK, AMGN led the DJIA, 20 advancers, -1

MTCH, BXP, MAA, TSN led the SPX, 332 advancers 

AMD, WBD, EXC, GILD led the NDX, 54 advancers.

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

Up:  DIA, SPY,

Down:  QQQ, IWM,

Eight of eleven sectors were higher on Thursday, led by XLU, XLRE and XLF.

The SPY MFC green line is pointed up at 96.3 and is short-term bullish. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLI, XLRE, XLB, XLE, XLV, XLP, XLU,

Neutral sectors: 

Down trend sectors: 

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

54 of 100 NDX stocks closed higher on Thursday.

91NDX stocks are above their 30 DMA:  FAST, LULU, DLTR, INTC, AEP, AMZN, CRWD, CTAS, ROST, TMUS, ASML, DXCM, KDP, KLAC, MELI, AMD, HON, QCOM, AAPL, AMAT, KHC, LRCX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, ADI, IDXX, ISRG, MCHP, ABNB, CSX, CTSH, NXPI, PYPL, TSLA, TXN, XEL, WBD, PANW, MRNA, ADSK, TEAM, REGN, AMGN, GILD, ILMN, ON, BIIB, WBA, AVGO, CMCSA, NFLX, MRVL, MU, TTD, ANSS, CDNS, FTNT, GEHC, GFS, SIRI, AZN, META, NVDA, VRTX, CSCO, ODFL, CCEP, CDW, DASH, MDB, ROP, SPLK, TTWO, BKR, FANG, GOOGL, MNST, MSFT, ADP, MDLZ, PEP, CHTR,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 0

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SPX Trend Rises Nearing All-time High as 2023 Winds Down...Real Estate, Consumer Staples, Health Care Lead Sectors Higher...

© 2023

The SPX +6.83 opened flat, traded in a range and closed slightly higher.  The SPX closed less than one percent or 37 points below its all-time high of 4,818 on Jan 4, 2022.

UPST, UBER, AMD, SQ, NAIL, BX, FAS and RCL were among Wednesday’s leading advancers.

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

SPY up .86 at 476.51 on 68.0 million shares, near average volume, closed higher on higher volume. 

VIX down .56 at 12.43

QQQ up .62 at 411.50

WMT, AMGN, CAT, TRV led the DJIA, 21 advancers, 0

MRNA, KMX, UBER, LLY led the SPX, 299 advancers 

MRNA, REGN, TSLA, AMD led the NDX, 59 advancers.

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

Up:  IWM, DIA, SPY, QQQ,

Down: 

Eight of eleven sectors were higher on Wednesday, led by XLRE, XLP and XLV.

The SPY MFC green line is flat at 93.3 and is short-term bullish.

Uptrend sectors:   XLC, XLK, XLF, XLY, XLI, XLRE, XLB, XLE, XLV, XLP, XLU,

Neutral sectors: 

Down trend sectors: 

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

59 of 100 NDX stocks closed higher on Wednesday.

91NDX stocks are above their 30 DMA:  FAST, LULU, DLTR, INTC, AEP, AMZN, CRWD, CTAS, ROST, TMUS, ASML, DXCM, KDP, KLAC, MELI, AMD, HON, QCOM, AAPL, AMAT, KHC, LRCX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, ADI, IDXX, ISRG, MCHP, ABNB, CSX, CTSH, NXPI, PYPL, TSLA, TXN, XEL, WBD, PANW, MRNA, ADSK, TEAM, REGN, AMGN, GILD, ILMN, ON, BIIB, WBA, AVGO, CMCSA, NFLX, MRVL, MU, TTD, ANSS, CDNS, FTNT, GEHC, GFS, SIRI, AZN, META, NVDA, VRTX, CSCO, ODFL, CCEP, CDW, DASH, MDB, ROP, SPLK, TTWO, BKR, FANG, GOOGL, MNST, MSFT, ADP, MDLZ, PEP, CHTR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

CHTR,

Moving Below 30 DMA = 1

EA,

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SPX Closes Higher Near All-time of 4,418...Energy, Real Estate, Industrials Lead all Sectors Higher...

© 2023

The SPX +20.12 opened higher, trended up and closed higher on light volume.  The SPX closed one percent or 44 points below its all-time high of 4,818 on Jan 4, 2022.

ROKU, ENPH, ZION, UPST, SHOP NAIL NET and TSLA were among Tuesday’s leading advancers.

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

SPY up 2.00 at 475.65 on 55.3 million shares, below average volume, closed higher on lower volume. 

VIX down .04 at 12.99

QQQ up 2.50 at 410.88

INTC, CAT, MMM, WBA led the DJIA, 21 advancers, -1

INTC, APA, EIX, CTLT, TER led the SPX, 415 advancers 

INTC, GFS, AMD, MRNA, DLTR led the NDX, 87 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 XLE, XLRE and XLI.

The SPY MFC green line is pointed up at 93.3 and is short-term bullish. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLI, XLRE, XLB, XLE, XLV, XLP, XLU,

Neutral sectors: 

Down trend sectors: 

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

87 of 100 NDX stocks closed higher on Tuesday.

91NDX stocks are above their 30 DMA:  FAST, LULU, DLTR, INTC, AEP, AMZN, CRWD, CTAS, ROST, TMUS, ASML, DXCM, KDP, KLAC, MELI, AMD, HON, QCOM, AAPL, AMAT, EA, KHC, LRCX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, ADI, IDXX, ISRG, MCHP, ABNB, CSX, CTSH, NXPI, PYPL, TSLA, TXN, XEL, WBD, PANW, MRNA, ADSK, TEAM, REGN, AMGN, GILD, ILMN, ON, BIIB, WBA, AVGO, CMCSA, NFLX, MRVL, MU, TTD, ANSS, CDNS, FTNT, GEHC, GFS, SIRI, AZN, META, NVDA, VRTX, CSCO, ODFL, CCEP, CDW, DASH, MDB, ROP, SPLK, TTWO, BKR, FANG, GOOGL, MNST, MSFT, ADP, MDLZ, PEP,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 0

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SPX Closes Higher for Eight Straight Week...Consumer Staples, Basic Materials, Health Care Lead Sectors...Markets Closed Monday for Christmas Holiday...

© 2023

The SPX +7.88 closed higher on lighter volume heading into the 3-day Christmas Holiday weekend.  The SPX closed higher for the eighth straight week.  Markets are closed Monday for the Christmas Holiday and stocks resume trading on Tuesday Dec 26.  

BX, MU, COST, SHOP, ZION, RCL and IBM were among Friday’s leading advancers.

NKE -14.49, -11.83%, a negative EPS reaction after reporting Thursday AMC.

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

SPY up .95 at 473.65 on 67.1 million shares, below average volume, closed higher on lower volume.

VIX down .62 at 13.03

QQQ up .61 at 408.38

INTC, AMGN, MRK, WMT led the DJIA, 22 advancers, -6

ANSS, ALB, ALLE, BMY, INCY led the SPX, 371 advancers 

ANSS, MRNA, DLTR, BIIB led the NDX, 65 advancers.

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

Up:  IWM, SPY, QQQ,

Down:  DIA,

Ten of eleven sectors were higher on Friday, led by XLP, XLB and XLV.

The SPY MFC green line turned up at 92.9 and is short-term bullish. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLI, XLRE, XLB, XLE, XLV,

Neutral sectors:  XLU, XLP,

Down trend sectors:

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

65 of 100 NDX stocks closed higher on Friday.

91NDX stocks are above their 30 DMA:  FAST, LULU, DLTR, INTC, AEP, AMZN, CRWD, CTAS, ROST, TMUS, ASML, DXCM, KDP, KLAC, MELI, AMD, HON, QCOM, AAPL, AMAT, EA, KHC, LRCX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, ADI, IDXX, ISRG, MCHP, ABNB, CSX, CTSH, NXPI, PYPL, TSLA, TXN, XEL, WBD, PANW, MRNA, ADSK, TEAM, REGN, AMGN, GILD, ILMN, ON, BIIB, WBA, AVGO, CMCSA, NFLX, MRVL, MU, TTD, ANSS, CDNS, FTNT, GEHC, GFS, SIRI, AZN, META, NVDA, VRTX, CSCO, ODFL, CCEP, CDW, DASH, MDB, ROP, SPLK, TTWO, BKR, FANG, GOOGL, MNST, MSFT, ADP, MDLZ, PEP,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

ADP, MDLZ, PEP,

Moving Below 30 DMA = 1

SNPS,

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SPX Bounces Back with Higher Close...Consumer Discretionary, Health Care, Technology Lead all Sectors Higher...After-hours NKE Falls after EPS...

© 2023

The SPX +48.40 opened higher, closed higher and recovered almost 70% of Wednesday’s late selloff.  Additional reports on Wednesday’s trading indicated that the selloff may have either been triggered by or exacerbated by the buying of SPX 0DTE put options.  This may be like a rapid selloff that occurred back on August 15.  CCL, WDC, W, RCL, ENPH, STX, UPST and AMD were among Thursday’s leading advancers.

MU +6.79, +8.63%, a positive EPS reaction after reporting Wednesday AMC.

After-hours:  NKE -14.34, -11.70%, a negative EPS reaction after reporting $2 billion in cost cuts and a ‘softer second-half revenue outlook.’  This is after FDX reduced its full-year after the close on Tuesday.

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

SPY up 4.44 at 472.70 on 86.6 million shares, above average volume, closed higher on lower volume. 

VIX down .02 at 13.65

QQQ up 4.69 at 407.77

INTC, CRM, WBA, AXP led the DJIA, 28 advancers, +28

MU, VFC, CCL, WDC, NCLH led the SPX, 455 advancers 

MU, CTAS, MRNA, DXCM led the NDX, 91 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 Thursday, led by XLY, XLV and XLK.

The SPY MFC green line is pointed down at 92.1 and is counter-trend defensive. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLI, XLRE, XLB, XLE, XLV,

Neutral sectors:  XLU, XLP,

Down trend sectors:

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

91 of 100 NDX stocks closed higher on Thursday.

88 NDX stocks are above their 30 DMA:  FAST, LULU, DLTR, INTC, AEP, AMZN, CRWD, CTAS, ROST, TMUS, ASML, DXCM, KDP, KLAC, MELI, SNPS, AMD, HON, QCOM, AAPL, AMAT, EA, KHC, LRCX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, ADI, IDXX, ISRG, MCHP, ABNB, CSX, CTSH, NXPI, PYPL, TSLA, TXN, XEL, WBD, PANW, MRNA, ADSK, TEAM, REGN, AMGN, GILD, ILMN, ON, BIIB, WBA, AVGO, CMCSA, NFLX, MRVL, MU, TTD, ANSS, CDNS, FTNT, GEHC, GFS, SIRI, AZN, META, NVDA, VRTX, CSCO, ODFL, CCEP, CDW, DASH, MDB, ROP, SPLK, TTWO, BKR, FANG, GOOGL, MNST, MSFT,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

MNST, MSFT,

Moving Below 30 DMA = 2

ADP, PAYX,

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