Wednesday, March 27, 2024

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...


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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 TrendUp 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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