SPX Closes Higher...Semiconductor and Technology Stocks Pullback Led by NVDA, AMD...Basic Materials, Real Estate, Health Care Lead Sectors...

© 2024

The SPX +11.42, traded in range and closed higher on a broad rally as exchange, index and sector advancers gained significantly on Tuesday.  NVDA, AMD paused today leading semiconductor  and technology stocks in a modest pullback.

Fed speakers included Mester, Kashkari, Collins and Harker on Tuesday.

GEHC +8.55, +11.65%, leads SPX and NDX on a positive EPS reaction, FMC -6.97, -11.54%, on a negative EPS reaction.

After-hours:  ENPH +12.50, +12.44%, FTNT +7.69, +11.40%, F +0.48, +6.30%, positive EPS reactions.

Wednesday, day 18 of Q4 earnings season continues with 9 SPX companies BG, CDW, CVS, DAY, EMR, FOXA, HLT, UBER, YUM reporting BMO and 15 ALL, DIS, EFX, EG, FLT, GL, MAA, MCK, MOH, NWSA, ORLY, PAYC, PYPL, STE, WYNN reporting AMC.  104 SPX companies report this week.

First day reaction: Q4

Positive:  GEHC, DD, WTW, SPG, XYL, CMI, LIN, J, WAT, CNC, EL, ON, IDXX, TSN, CAT, META, AMZN, CLX, GWW, CI, HIG, CVX, CPT, CTVA, PH, ETN, TT, BALL, QRVO, MRK, TSCO, DOV, MO, CMS, ALGN, RVTY, BDX, WEC, SYK, COR, BA, FTV, ADP, BSX, MTCH, EQR, PSX, MSCI. GM, SYY, NUE, GLW, MPC, HCA, DHR, HUBB, AXP, COF, LHX, CL, URI, AAL, IBM, RMD, WRB, CCI, MKC, PKG, DOW, CMCSA, VLO, BX, LRCX, STX, CSX, NEE, RJF, XEL, LVS, NFLX, TXT, TEL, GD, FCX, APH, VZ, RTX, UAL, BRO, PG, PCAR, HAL, TRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 104

Neutral:  NXPI, LLY, AME, L, ABBV, BMY, XOM, AAPL, RCL, AVB, PTC, DGX, MA, CB, SWKS, EA, JNPR, AVY, FFIV, NVR, PHM, PNR, BEN, TMUS, WY, SHW, AMP, NOW, UNP, STLD, ELV, ISRG, SYF, GE, CMA, TFC, GS, PNC, BLK, JPM = 40

Negative: FMC, CARR, VRTX, FI, IT, APD, MCD,  CHTR, GEN, EMN, HOLX, AON, CHD, LYB, MCHP, REGN, CBOE, CHRW, AFL, MET, QCOM, IP, CAH, WRK, TECH, HON, ITW, SWK, BR,  MKTX, ROK, TER, GOOGL, APTV, BXP, TMO, ROP, MSFT, AMD, RHI, HES, OTIS, MDLZ, ODFL, NDAQ, SBUX, UPS, WHR, ARE, JCI, AOS, PFE, INTC, FICO, KLAC, WDC, AJG, V, NSC, TSLA, HUM, NOC, MMC, LUV, KMB, TDY, BKR, T, ABT, TXN, MMM, DHI, IVZ, LMT, JNJ, ZION, PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 89

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

SPY up 1.43 at 492.55 on 55.9 million shares, below average volume, closed higher on lower volume. 

VIX down .61 at 13.06

QQQ down .86 at 427.59

WBA, NKE, DIS, DOW led the DJIA, 20 advancers, +14

GEHC, DD, WTW, UPS, SPG led the SPX, 347 advancers 

GEHC, MRNA, DASH, PDD led the NDX, 55 advancers.

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

Up:  IWM, DIA, SPY,

Down:  QQQ, 

Nine of eleven sectors were higher on Tuesday, led by XLB, XLRE and XLV.

The SPY MFC green line is pointed down at 86.2 and is counter-trend defensive. 

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

Neutral sectors:  XLU,

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 Trend: Up

55 of 100 NDX stocks closed higher on Tuesday.

65 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, AMD, COST, ZS, MAR, ISRG, REGN, AMGN, ILMN, AVGO, MRVL, FTNT, META, CCEP, SPLK, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, VRSK, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, ADBE, CMCSA, SNPS, CEG, CSX, MDB, PEP, BKNG, CPRT, DLTR, ROP, ODFL, GOOGL, IDXX, NXPI, AAPL, DXCM, GEHC, PAYX, PYPL, SBUX,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

AAPL, DXCM, GEHC, PAYX, PYPL, SBUX, 

Moving Below 30 DMA = 4

MU, ON, TMUS, VRTX,

Add Comments here: