SPX Inches to All-time Closing High...Energy, Utilities, Real Estate Lead Sectors...EL Leads SPX after Upgrade...Happy Easter, Markets are Closed on Friday...

© 2024

Happy Easter everyone!  The financial markets are closed on Good Friday for the 3-day Easter Holiday weekend.

The SPX +5.86, 5254.35, a new all-time closing high, opened flat, traded in a range most of the day, rallied during the last 90 minutes of the day, to close slightly higher. 

EL +9.11, +6.28% led the SPX on an upgrade from neutral to Buy from B of A Securities today. 

NVDA +1.06, +0.12%, 903.56, opened slightly lower, reversed, traded in a positive range and closed slightly higher.

The PCE Index will be reported on Friday morning at 8:30 am ET.  Consensus estimate for Core PCE is M/M 0.3%, Y/Y 2.8%.

Jerome Powell is scheduled to participate in a Moderated Discussion at the Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference, Friday at 11:30 am ET.

On Monday SOLV, a spinoff of MMM will be added to the S&P 500.

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

SPY down .10 at 523.07, on 96.2 million shares, above average volume, closed slightly lower on higher volume.

VIX up .23 at 13.01

QQQ down .82 at 444.01

MMM, DIS, VZ, INTC led the DJIA, 19 advancers, -8

EL, AES, BX, COF led the SPX, 364 advancers 

WBA, ADI FTNT, AEP led the NDX, 55 advancers

Up:  IWM, DIA,

Down:  SPY, QQQ,

Eight of eleven sectors were up on Thursday, led by XLE, XLU and XLRE

The SPY MFC green line turned up at 90.9 and is short-term bullish.

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

Neutral sectors:  XLU, XLRE,

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

55 of 100 NDX stocks closed higher on Thursday.

65 NDX stocks are above their 30 DMA:  CTAS, NVDA, AMZN, DASH, NFLX, ORLY, AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, LIN, QCOM, FANG, EXC, CPRT, MU, CSGP, MNST, BKR, AZN, DXCM, MCHP, MRNA, CMCSA, PYPL, MSFT, GOOGL, ISRG, ANSS, LRCX, MAR, PEP, ASML, CDNS, HON, KHC, ROP, TTD, ADSK, CSCO, AVGO, BKNG, AMGN, KDP, ADI, ADP, AEP, GEHC, GILD, ILMN, INTC, MRVL, NXPI, ROST, TXN, ODFL, PAYX, TMUS, TTWO, WBA, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 6

ODFL, PAYX, TMUS, TTWO, WBA, XEL,

Moving Below 30 DMA = 5

CCEP, CHTR, CRWD, META, SNPS,

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SPX Opens Higher Closes at a new All-time closing High...Utilities, Real Estate, Industrials Lead All Sectors Higher...CTAS Leads NDX on Positive EPS Reaction...

© 2024

The SPX +44.91, 5248.49, a new all-time closing high, opened higher and traded in a positive range most of the day, rallied during the last 45 minutes of the day, bouncing above the high of the low day in a bull flag bounce to close higher. 

CTAS +52.24, +8.25% led the NDX on a positive EPS reaction today. 

NVDA -23.11, -2.50%, 902.50, opened higher, reversed and closed lower.

Markets are closed on Good Friday for a 3-day Easter Holiday weekend. 

The PCE Index will be reported on Friday morning at 8:30 am ET.   Jerome Powell is scheduled to participate in a Moderated Discussion at the Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference at 11:30 am ET.

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

SPY up 4.36 at 523.17, on 82.9 million shares, above average volume, closed higher on higher volume 

VIX down .46 at 12.78

QQQ up 1.51 at 444.83

MRK, INTC, BA, CAT led the DJIA, 27 advancers, +15

ENPH, FSLR, CTAS, ALB, NCLH led the SPX, 452 advancers 

CTAS, MRVL, DLTR, ON led the NDX, 73 advancers

Up:  IWM, DIA, SPY, QQQ,

Down: 

All eleven sectors were up on Wednesday, led by XLU, XLRE and XLI

The SPY MFC green line is pointed down at 90.7 and is counter-trend defensive.

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

Neutral sectors:  XLU, XLRE,

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

73 of 100 NDX stocks closed higher on Wednesday.

64 NDX stocks are above their 30 DMA:  CTAS, META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY, AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, QCOM, FANG, CCEP, EXC, CPRT, MU, CSGP, MNST, BKR, AZN, DXCM, MCHP, MRNA, CMCSA, PYPL, MSFT, GOOGL, ISRG, ANSS, CRWD, LRCX, MAR, PEP, ASML, CDNS, HON, KHC, ROP, SNPS, TTD, ADSK, CSCO, AVGO, BKNG, AMGN, KDP, ADI, ADP, AEP, CHTR, GEHC, GILD, ILMN, INTC, MRVL, NXPI, ROST, TXN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

ADI, ADP, AEP, CHTR, GEHC, GILD, ILMN, INTC, MRVL, NXPI, ROST, TXN, 

Moving Below 30 DMA = 0

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SPX Closes Lower on Last Hour Selloff, 3-day Bull Flag... Health Care, Financial, Consumer Discretionary Lead Sectors...

© 2024

The SPX -14.61, 5203.58, opened higher and traded in a positive narrow range most of the day, sold off during the last hour of the day, closed lower and is now a three-day bull flag pattern.

MKC +7.36, +10.52% led the SPX on a positive EPS reaction today. 

NVDA -24.41, -2.57%, 925.61, opened higher, pulled back and closed lower. 

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

SPY down .96 at 518.81, on 65.4 million shares, average volume, closed lower on higher volume 

VIX up .05 at 13.24

QQQ down 1.44 at 443.32

UNH, HON, DIS, JPM led the DJIA, 12 advancers, +3

MKC, STX, WDC, MGM led the SPX, 214 advancers 

MRVL, TSLA, DASH, CRWD led the NDX, 45 advancers

Up:  

Down:  DIA, IWM, SPY, QQQ,

Four of eleven sectors were up on Tuesday, led by XLV, XLF and XLY

The SPY MFC green line turned down at 91.2 and is counter-trend defensive.

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

Neutral sectors:  XLU, XLRE,

Down trend sectors: 

The 6-month intermediate trend is up.  The ten-day trend is Up a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

45 of 100 NDX stocks closed higher on Tuesday.

52 NDX stocks are above their 30 DMA:  CTAS, META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY, AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, QCOM, FANG, CCEP, EXC, CPRT, MU, CSGP, MNST, BKR, AZN, DXCM, MCHP, MRNA, CMCSA, PYPL, MSFT, GOOGL, ISRG, ANSS, CRWD, LRCX, MAR, PEP, ASML, CDNS, HON, KHC, ROP, SNPS, TTD, ADSK, CSCO, AVGO, BKNG, AMGN, KDP,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

AEP, ODFL, TXN,

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SPX Closes Lower in a 2-day Bull Flag Setup...Energy, Utilities, Basic Materials Lead Sectors...MU Leads NDX...

© 2024

The SPX -15.99, 5218.19, opened lower and traded in a narrow light volume range first day of a shortened 4-day trading week forming a two-day bull flag pattern.

MU +6.92, +6.28% led the NDX with a bull flag bounce following last week’s positive EPS reaction.  

NVDA +7.13, +0.76%, 950.02, opened slightly lower, rallied from the open and closed higher. 

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

SPY down 1.44 at 519.77, on 48.5 million shares, below average volume, the lowest volume day of the past three months, closed lower on lower volume 

VIX up .13 at 13.19

QQQ down 1.62 at 444.76

DIS, AMGN, BA, VZ led the DJIA, 9 advancers, +3

SMCI, EMN, APA, IP led the SPX, 186 advancers 

MU, DXCM, CEG, MRNA led the NDX, 30 advancers

Up:  IWM,

Down:  SPY, QQQ, DIA,

Three of eleven sectors were up on Monday, led by XLE, XLU and XLB

The SPY MFC green line is pointed up at 92.6 and is short-term bullish.

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

Neutral sectors:  XLRE, 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: Sideways

30 of 100 NDX stocks closed higher on Monday.

55 NDX stocks are above their 30 DMA:  CTAS, META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY, AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, QCOM, FANG, AEP, CCEP, EXC, CPRT, MU, CSGP, MNST, BKR, TXN, AZN, DXCM, MCHP, MRNA, CMCSA, PYPL, MSFT, GOOGL, ISRG, ANSS, CRWD, LRCX, MAR, PEP, ASML, CDNS, HON, KHC, ROP, SNPS, TTD, ADSK, CSCO, ODFL, AVGO, BKNG, AMGN, KDP,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

AMGN, KDP, 

Moving Below 30 DMA = 8

ADI, ADP, GEHC, ILMN, MDLZ, NXPI, REGN, TTWO,

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SPX Pauses Slightly after All-time High on Thursday...Industrials, Financials, Energy Lead Sectors...FDX, NVDA Lead SPX...

© 2024

The SPX -7.35, 5234.18, as the post-FOMC rally pauses before the Good Friday shortened 4 -day trading week.  

FDX +19.47, +7.35% on a positive EPS reaction.  LULU -75,65 -15.80% on a negative EPS reaction

NVDA +28.54, +3.12%, 942.89, opened slightly lower, rallied from the open and closed higher.  UBS raised its price target to $1,100 from $800 as twenty firms now have price targets at $1,000 to $1,400.

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

SPY down .99 at 521.21, on 79.0 million shares, above average volume, closed lower on higher volume 

VIX up .14 at 13.06

QQQ up .51 at 446.38

BA, AAPL, AMZN, INTC led the DJIA, 6 advancers, -12

FDX, NVDA, AES, CLX, BDX led the SPX, 122 advancers 

NVDA, CEG, GOOGL, MRNA led the NDX, 31 advancers

Up:  QQQ,

Down:  SPY, DIA, IWM,

Three of eleven sectors were up on Friday, led by XLI, XLF and XLE

The SPY MFC green line is pointed up at 91.5 and is short-term bullish.

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

Neutral sectors:  XLRE, 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

31 of 100 NDX stocks closed higher on Friday.

61 NDX stocks are above their 30 DMA:  CTAS, META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY, AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, GEHC, QCOM, FANG, AEP, CCEP, EXC, CPRT, MU, CSGP, MNST, BKR, TXN, AZN, DXCM, MCHP, MRNA, CMCSA, PYPL, MSFT, GOOGL, ISRG, ANSS, CRWD, LRCX, MAR, PEP, ASML, CDNS, HON, KHC, REGN, ROP, SNPS, TTD, ADI, ADP, ADSK, CSCO, NXPI, ODFL, AVGO, BKNG, ILMN, TTWO, MDLZ,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

MDLZ, 

Moving Below 30 DMA = 7

CHTR, COST, CSX, GILD, LULU, PAYX, ROST,

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SPX All-time Closing High again...Industrials, Financial, Energy Lead Sectors...MU Leads SPX, NDX after Positive Earnings Reaction...

© 2024

The SPX +16.91, 5241.43, another new all-time closing high, as the post-FOMC announcement rally continued.

MU +13.60, +14.13%, led the SPX and NDX after a positive earnings reaction.

NVDA +10.63, +1.18%, 914.35, opened higher, traded in a range formed a black spinning top and closed higher.  TD Cowen raised its price target to $1,100 from $900.

After-hours: FDX +34.22, +12.92% on a positive EPS reaction.  LULU -53.83, -11.24% on a negative EPS reaction.

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

SPY up 1.72 at 522.20, on 68.5 million shares, average volume, closed higher on higher volume 

VIX down .12 at 12.92

QQQ up 2.10 at 445.87

GS, HD, CAT, AMGN led the DJIA, 18 advancers, -10

MU, SMCI, WDC, BIO, DECK led the SPX, 374 advancers 

MU, AVGO, LRCX, ILMN led the NDX, 73 advancers

Up:  IWM, DIA, QQQ, SPY,

Down: 

Ten of eleven sectors were up on Thursday, led by XLI, XLF and XLE.

The SPY MFC green line is pointed up at 88.3 and is short-term bullish.

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

Neutral sectors:  XLRE, 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

73 of 100 NDX stocks closed higher on Thursday.

67 NDX stocks are above their 30 DMA:  CTAS, META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY, AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, GEHC, QCOM, FANG, AEP, CCEP, EXC, CPRT, MU, CSGP, MNST, BKR, TXN, AZN, DXCM, MCHP, MRNA, GILD, CMCSA, PYPL, LULU, MSFT, GOOGL, ISRG, ANSS, CHTR, CRWD, LRCX, MAR, PEP, ASML, CDNS, HON, KHC, REGN, ROP, ROST, SNPS, TTD, ADI, ADP, ADSK, COST, CSCO, CSX, NXPI, ODFL, PAYX, AVGO, BKNG, ILMN, TTWO,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

AVGO, BKNG, ILMN, TTWO,  

Moving Below 30 DMA = 1

PDD,

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