Monday, January 22, 2024

SPX, NDX, DJI Hit another All-time Closing High...Industrials, Financial, Real Estate Lead Sectors...Earnings Ramp Up on Tuesday...


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The SPX +10.62 closed at a new all-time high as did NDX and DJI.   UPST, NAIL, W, NET, CRWD, PANW, DDOG were among the advancers on Monday.  NDX 17,330 closes at an all-time closing high.


GDP report Thursday at 8:30 am ET.  Personal Income and Outlays, PCE report Friday at 8:30 am ET.


Tuesday day 7 of Q4 earnings season continues with 12 SPX companies DHI, GE, HAL, IVZ, JNJ, LMT, MMM, PCAR, PG, RTX, SYF, VZ reporting BMO and 5 BKR, ISRG, NFLX, STLD, TXN reporting AMC.  74 SPX companies report this week. 

First day reaction: Q4
PositiveTRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 12
Neutral:  CMA, TFC, GS, PNC, BLK, JPM = 6
Negative:  PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 13


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


SPY up 1.02 at 483.45 on 75.8 million shares, just below average volume, closed higher on lower volume. 
VIX down .11 at 13.19
QQQ up .55 at 421.73


WBA, DIS, UNH, DOW led the DJIA, 23 advancers, -3
VFC, ALB, JBHT, WDC led the SPX, 361 advancers 
SNPS, ZS, TTD, ODFL led the NDX, 69 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 Monday, led by XLI, XLF and XLRE.


The SPY MFC green line is pointed up at 88.8 and is short-term bullish. 

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


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 TrendUp


69 of 100 NDX stocks closed higher on Monday.

71 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, TMUS, DXCM, AMD, QCOM, COST, ZS, BKNG, MAR, ISRG, CSX, MRNA, TEAM, REGN, AMGN, ILMN, AVGO, MRVL, MU, ANSS, FTNT, META, VRTX, CSCO, CCEP, SPLK, GOOG, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, GOOGL, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, ROP, VRSK, SIRI, AMAT, ASML, CDW, FAST, INTC, INTU, KLAC, PCAR, PYPL, TXN, AAPL, ABNB, ADBE, ADI, CMCSA, CPRT, GFS, MCHP, MDB, PAYX, AZN, CEG, ODFL, SNPS,

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 4
AZN, CEG, ODFL, SNPS


Moving Below 30 DMA = 3
EA, GILD, MNST,



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