SPX Opens Lower Closes Lower, Forms Spinning Top as Rally Pauses on Monday...Real Estate, Health Care, Industrials, Lead Sectors...

© 2023

The SPX -24.65 opened lower, traded in a range giving back most of Friday’s rally, closed lower forming a spinning top in an 8-day horizontal channel.  UPST, CCL, RCL, NKE, HD, and NET were among Monday’s leading gainers.

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

SPY down 2.41 at 456.69 on 71.4 million shares, near average volume, closed lower on lower volume. 

VIX up .45 at 13.08

QQQ down 3.62 at 386.32

MMM, MRK, NKE, HD led the DJIA, 15 advancers, -8

BBWI, NCLH, EL, VFC, CCL led the SPX, 257 advancers 

IDXX, ILMN, ENPH, CMCSA led the NDX, 38 advancers.

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

Up:  IWM,

Down:  DIA, SPY, QQQ,

Four of eleven sectors were higher on Monday, led by XLRE, XLV and XLI.

The SPY MFC green line is sideways at 95.7 and is short-term bullish.  SPY opened lower and closed 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

38 of 100 NDX stocks closed higher on Monday.

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

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 8

ANSS, CEG, GFS, META, MRVL, NVDA, SIRI, TTD,

Add Comments here: