Wednesday, February 7, 2024

SPX, NDX, DJI make New All-time Closing Highs...Technology, Consumer Discretionary, Basic Materials Lead Sectors...


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The SPX +40.83, NDX and DJI each made an all-time closing high.   NVDA resumed its uptrend after a one-day pullback also making a new all-time closing high.  NDX leaders PANW and CRWD made all-time closing highs today.

ENPH +17.00, +16.91%, EMR +9.83, +10.43%, led the SPX on positive EPS reactions.

After-hours:  DIS +6.65, +6.71%, positive EPS reactions.


Thursday, day 19 of Q4 earnings season continues with 20 SPX companies BAX, BWA, COP, DTE, DUK, HSY, ICE, IPG, K, KIM, KVUE, MAS, PM, RL, SNA, SPGI, TDG, TPR, TROW, ZBH reporting BMO and 11 DXCM, EXPE, FE, ILMN, MHK, MSI, MTD, PEAK, REG, TTWO, VRSN reporting AMC.  104 SPX companies report this week.


First day reaction: Q4
Positive: ENPH, EMR, CMG, F, PRU, VLTO, AIZ, FTNT, JKHY, CVS, CDW, AMCR YUM, IEX, 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 = 118

Neutral:  HLT, UBER, ATO, DAY, UDR, CTSH, 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 = 46

Negative: VFC, FOXA, AMGN, CINF, GILD, OMC, BF, EW, ESS, 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, = 98


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


SPY up 4.12 at 498.10 on 70.4 million shares, slightly below average volume, closed higher on higher volume. 
VIX down .23 at 12.83
QQQ up 4.40 at 431.99

MS, HD, UNH, AXP led the DJIA, 22 advancers, +2
ENPH, EMR, CMG, GNRC led the SPX, 312 advancers 
PANW, CRWD, ZS, FTNT led the NDX, 72 advancers.

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

Up:  QQQ, SPY, DIA,
DownIWM,

Nine of eleven sectors were higher on Wednesday, led by XLK, XLY and XLB.

The SPY MFC green line turned up at 92.9 and is short-term bullish. 

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 TrendUp


72 of 100 NDX stocks closed higher on Wednesday.

66 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, AMD, COST, ZS, MAR, ISRG, REGN, ILMN, AVGO, MRVL, FTNT, META, 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, SNPS, CEG, CSX, MDB, PEP, BKNG, CPRT, DLTR, ROP, ODFL, GOOGL, IDXX, NXPI, AAPL, DXCM, GEHC, PAYX, PYPL, SBUX, CSGP, ON, QCOM, TTD,


NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 4
CSGP, ON, QCOM, TTD,


Moving Below 30 DMA = 3
AMGN, CCEP, CMCSA,



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