SPX Rallies to All-time Closing High after PCE Inflation inline with Consensus Estimate...Technology, Communication Services Lead Sectors...Hormel Leads SPX on Positive EPS Reaction...

 

© 2024

The SPX +26.51 gapped higher, reversed filled the gap, rallied in the afternoon to an all-time closing high.   Today’s price action was a bull flag bounce.  Today’s gap up occurred after the PCE inflation report was in line with consensus estimates.

HRL +4.49, +14.56% led the SPX on a positive earnings reaction.

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

SPY up 1.82 at 508.08 on 83.9 million shares, above average volume, closed higher on higher volume 

VIX down .44 at 13.40

QQQ up 3.73 at 439.00

CRM, INTC, AMZN, MSFT led the DJIA, 14 advancers, +4

HRL, FMC, AMD, ENPH, CZR led the SPX, 314 advancers 

AMD, MRVL, MNST, GFS led the NDX, 65 advancers

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

Up:  QQQ, IWM, SPY, DIA,

Down:

Eight of eleven sectors were up on Thursday, led by XLK, XLC and XLRE

The SPY MFC green line turned down at 92.2 and is counter-trend defensive.

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

Neutral sectors:  XLE, XLU,

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 a little

65 of 100 NDX stocks closed higher on Thursday.

64 NDX stocks are above their 30 DMA:  CTAS, ROST, COST, ISRG, REGN, AVGO, META, SPLK, ADP, ADSK, NVDA, AMZN, DASH, LRCX, MSFT, NFLX, CDNS, ORLY, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, SNPS, CEG, CSX, DLTR, ODFL, IDXX, NXPI, GEHC, PAYX, ON, QCOM, TTD, EA, FANG, AEP, CTSH, MAR, CCEP, EXC, TMUS, AMD, CPRT, CRWD, DDOG, FTNT, MDB, MU, CSGP, TSLA, MNST, BKR, HON, LULU, MRVL, SBUX, TXN, ZS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 7

BKR, HON, LULU, MRVL, SBUX, TXN, ZS,

Moving Below 30 DMA = 3    

AZN, ILMN, MRNA,

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SPX Closes Slightly Lower in Light Volume Narrow Range Day...Real Estate, Consumer Discretionary, Financial Lead Sectors...PCE Report Thursday morning BMO...

© 2024

The SPX -8.42 opened flat, traded in a narrow range on light volume, closed slightly lower, formed a spinning top in a bull flag price pattern.

PCE inflation report Thursday at 8:30 am ET BMO.

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

SPY down .67 at 506.26 on 56.5 million shares, below average volume, closed lower on higher volume. 

VIX up .41 at 13.84

QQQ down 2.33 at 435.27

DIS, HD, TRV, AAPL led the DJIA, 18 advancers, +2

NCLH, CEG, CCL, AZO, ALB led the SPX, 255 advancers 

CEG, TTD, AEP, PANW led the NDX, 30 advancers

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

Up:  

Down:  DIA, SPY, QQQ, IWM,

Seven of eleven sectors were up on Wednesday, led by XLRE, XLY and XLF

The SPY MFC green line turned up at 92.7 and is short-term bullish.

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

Neutral sectors:  XLE, XLU,

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: Down a little

30 of 100 NDX stocks closed higher on Wednesday.

60 NDX stocks are above their 30 DMA:  CTAS, ROST, COST, ISRG, REGN, AVGO, META, SPLK, ADP, ADSK, NVDA, AMZN, DASH, LRCX, MSFT, NFLX, CDNS, ORLY, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, SNPS, CEG, CSX, DLTR, ODFL, IDXX, NXPI, GEHC, PAYX, ON, QCOM, TTD, EA, FANG, AEP, CTSH, MAR, CCEP, EXC, TMUS, AMD, CPRT, CRWD, DDOG, FTNT, MDB, MU, AZN, CSGP, TSLA, MNST, ILMN, MRNA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

ILMN, MRNA,

Moving Below 30 DMA = 8    

ANSS, BKR, LULU, MRVL, SBUX, TXN, VRTX, ZS,

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SPX Forms Hammer, Poised for Bull Flag Bounce...Utilities, Communications Services, Basic Materials Lead Sectors...NCLH, CEG Leads SPX on Positive Earnings Reactions...

© 2024

The SPX +8.65 opened flat, traded in a range on lighter volume, rallied in the last two hours of trading to form a hammer in a bull flag price pattern. 

NCLH +3.16, +19.84%, CEG +22.54, +16.92%, on Tuesday led the SPX on positive earnings reactions.

PANW +11.97, +3.95%, continued to recover from Wednesday’s -29% gap down on lowered guidance.  Over the past four days PANW has recovered +20.1%.

After-hours: A +6.45, +4.87%, FSLR +6.91, +4.77%, AXON +12.18, +4.48%, EBAY +1.85, +4.17%, SPX components that rose on positive earnings reaction

PCE inflation report Thursday at 8:30 am ET BMO.

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

SPY up .94 at 506.93 on 48.7 million shares, below average volume, closed higher on lower volume. 

VIX down .31 at 13.43

QQQ up 1.05 at 437.60

DIS, HD, TRV, AAPL led the DJIA, 16 advancers, +11

NCLH, CEG, CCL, AZO, ALB led the SPX, 313 advancers 

CEG, TTD, AEP, PANW led the NDX, 51 advancers

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

Up:  IWM, QQQ, SPY,

Down:  DIA,

Nine of eleven sectors were up on Tuesday, led by XLU, XLC and XLB

The SPY MFC green line turned up at 91.1 and is short-term bullish.

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

Neutral sectors:  XLU, XLE,

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

51 of 100 NDX stocks closed higher on Tuesday.

66 NDX stocks are above their 30 DMA:  CTAS, ROST, COST, ISRG, REGN, AVGO, META, SPLK, ADP, ADSK, NVDA, AMZN, DASH, LRCX, MSFT, NFLX, CDNS, ORLY, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, SNPS, CEG, CSX, DLTR, ODFL, IDXX, NXPI, GEHC, PAYX, SBUX, ON, QCOM, TTD, EA, FANG, AEP, CTSH, MAR, CCEP, EXC, TMUS, TXN, AMD, ANSS, CPRT, CRWD, DDOG, FTNT, MDB, MU, AZN, BKR, CSGP, VRTX, LULU, MRVL, TSLA, ZS, MNST,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MNST,

Moving Below 30 DMA = 3

HON, ROP, WDAY,

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SPX Closes Lower on Light Volume Trading...Energy, Consumer Discretionary, Technology Lead Sectors...PANW Continues Rebound...

© 2024

The SPX -19.27 opened flat, traded in a range on lighter volume and closed lower in a day one pull back above Thursday’s S-1 level.  AMZN did replace WBA in the DJIA, today.

BRK/B -8.08, -1.94%, made an all-time today before reversing and closing lower after reporting strong earnings on Saturday.

PANW +20.69, +7.33%, continued to recover from Wednesday’s -29% gap down on lowered guidance.  Over the past three days PANW has recovered +15.5%.

PCE inflation report Thursday at 8:30 am ET BMO.

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

SPY down 1.86 at 505.99 on 50.3 million shares, below average volume, closed lower on lower volume. 

VIX down .01 at 13.74

QQQ down .23 at 436.55

CRM, WMT, AXP, CAT led the DJIA, 5 advancers, -16

PANW, DPZ, FIS, AMAT, STLD led the SPX, 162 advancers 

PANW, CCEP, MU, TSLA led the NDX, 47 advancers

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

Up:  IWM,

Down:  QQQ, DIA, SPY,

Three of eleven sectors were up on Monday, led by XLE, XLY and XLK

The SPY MFC green line is flat at 89 and is counter-trend defensive. 

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

Neutral sectors:  XLU, XLE,

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

47 of 100 NDX stocks closed higher on Monday.

68 NDX stocks are above their 30 DMA:  CTAS, ROST, COST, ISRG, REGN, AVGO, META, SPLK, ADP, ADSK, NVDA, AMZN, DASH, LRCX, MSFT, NFLX, WDAY, CDNS, ORLY, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, SNPS, CEG, CSX, DLTR, ODFL, IDXX, NXPI, GEHC, PAYX, SBUX, ON, QCOM, TTD, EA, FANG, AEP, CTSH, MAR, ROP, CCEP, EXC, HON, TMUS, TXN, AMD, ANSS, CPRT, CRWD, DDOG, FTNT, MDB, MU, AZN, BKR, CSGP, VRTX, LULU, MRVL, TSLA, ZS,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 4

LULU, MRVL, TSLA, ZS,

Moving Below 30 DMA = 3

MDLZ, PEP, VRSK,

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SPX Inches to All-time Closing High...Utilities, Basic Materials, Industrials Lead Sectors as Technology, Communication Services, Consumer Discretionary Close Lower...NVDA Holds Thursday's Record Gains...

© 2024

The SPX +1.77 opens slightly higher, traded in a range and inched to a new all-time closing high.  The DJI also made a new all-time closing high.  The NDX closed lower as the Technology, Communication Services and Consumer Discretionary sectors closed lower on Friday.

NVDA +2.79, +0.36%, opened higher, traded in a range, held onto Thursday record gains and made a new all-time closing high. 

PANW +14.27, +5.33%, recovered slightly from Wednesday’s massive gap down on lowered guidance.

AMZN will replace WBA in the DJIA, on Monday, Feb 26, 2024.

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

SPY up .35 at 507.85 on 61.3 million shares, below average volume, closed higher on lower volume. 

VIX down .79 at 13.75

QQQ down 1.29 at 436.78

AMGN, JNJ, IBM, WBA led the DJIA, 21 advancers, -1

PANW, D, ETSY, IRM, HSIC led the SPX, 336 advancers 

PANW, ZS, CPRT, ADBE led the NDX, 53 advancers

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

Up:  IWM, DIA, SPY,

Down:  QQQ,

Seven of eleven sectors were up on Friday, led by XLU, XLB and XLI

The SPY MFC green line turned down at 89 and is counter-trend defensive. 

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

Neutral sectors:  XLU, XLE,

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

53 of 100 NDX stocks closed higher on Friday.

67 NDX stocks are above their 30 DMA:  CTAS, ROST, COST, ISRG, REGN, AVGO, META, SPLK, ADP, ADSK, NVDA, AMZN, DASH, LRCX, MSFT, NFLX, WDAY, CDNS, ORLY, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, SNPS, CEG, CSX, DLTR, ODFL, IDXX, NXPI, GEHC, PAYX, SBUX, ON, QCOM, TTD, EA, FANG, AEP, CTSH, MAR, ROP, CCEP, EXC, HON, TMUS, TXN, AMD, ANSS, CPRT, CRWD, DDOG, FTNT, MDB, MDLZ, MU, AZN, BKR, CSGP, PEP, VRSK, VRTX, 

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 6

AZN, BKR, CSGP, PEP, VRSK, VRTX,

Moving Below 30 DMA = 4

BKNG, MELI, MRNA, MRVL,

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SPX All-time Closing High as NVDA Leads SPX, NDX Higher...Technology, Consumer Discretionary, Communication Services Lead Sectors...After-hours: BKNG, MELI Down on Negative EPS Reactions...

© 2024

The SPX +105.23 opened higher after NVDA’s positive EPS reaction, trended higher all day and closed higher for its largest daily gain in the past one year and a new all-time closing high.

NVDA +110.66, +16.40%, reported eps of $5.16 vs. 4.59 estimate a 57-cent beat.  Y/Y eps $5.16 vs. 0.88.  Revenue, EPS beat and raised guidance.  After the past two quarters of under-responsive reaction, Thursday’s reaction more accurately reflected the significant growth that NVDA’s AI growth strategy has produced.  The third time appears to be the charm!

MRNA +11.85, +13.53%, PWR +21.71, +10.28% like NVDA were SPX leaders on positive earnings reactions.

After-hours: BKNG -361.99, -9.28%, MELI -166.83, -9.18%, fell on negative earnings reactions.

AMZN will replace WBA in the DJIA, next Monday, Feb 26, 2024.

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

SPY up 10.29 at 507.50 on 75.9 million shares, average volume, closed higher on higher volume. 

VIX down .80 at 14.54

QQQ up 12.46 at 438.07

CRM, V, IBM, MSFT led the DJIA, 22 advancers, +8

NVDA, PWR, RCL, MOS, AVGO led the SPX, 366 advancers 

NVDA, MRNA, AMD, SNPS led the NDX, 81 advancers

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

Up:  QQQ, SPY, DIA, IWM,

Down: 

Ten of eleven sectors were up on Thursday, led by XLK, XLY and XLC

The SPY MFC green line is pointed up at 89.3 and is short-term bullish. 

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

Neutral sectors:  XLU, XLE,

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

81 of 100 NDX stocks closed higher on Thursday.

65 NDX stocks are above their 30 DMA:  CTAS, ROST, COST, ISRG, REGN, AVGO, META, SPLK, ADP, ADSK, NVDA, AMZN, DASH, LRCX, MSFT, NFLX, WDAY, MELI, CDNS, ORLY, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, SNPS, CEG, CSX, BKNG, DLTR, ODFL, IDXX, NXPI, GEHC, PAYX, SBUX, ON, QCOM, TTD, EA, FANG, AEP, CTSH, MAR, ROP, CCEP, EXC, HON, TMUS, TXN, AMD, ANSS, CPRT, CRWD, DDOG, FTNT, MDB, MDLZ, MRNA, MRVL, MU,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 11

AMD, ANSS, CPRT, CRWD, DDOG, FTNT, MDB, MDLZ, MRNA, MRVL, MU,

Moving Below 30 DMA = 5

ADI, CSGP, KDP, PEP, XEL,

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