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...

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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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