© 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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