Monday, December 11, 2023

SPX Rally Continues for a Third Day...Mega Cap Selling Follows NDX 100 Rebalance...

© 2023

SPX continued to rise above resistance after Friday’s breakout.

NDX 100 announces on Friday a rebalancing, effective Dec 18, to add six stocks CDW, CCEP, DASH, MDB, ROP and SPLK, and the removal of six stocks ALGN, EBAY, ENPH, JD, LCID and ZMThe NDX 100 rebalance reportedly led to a selloff in the mega-caps AAPL, MSFT, AMZN, GOOGL, NVDA, META and TSLA and buying in the majority of the remaining NDX stocks.


87 of 100 NDX stocks closed higher on Monday.

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

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 10
ANSS, CDNS, CPRT, FTNT, GEHC, GFS, MNST, PEP, SIRI, VRSK,


Moving Below 30 DMA = 2
META, NVDA,




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